ONEOK closes $9 billion equity investment with Apollo
The transaction involves a nonvoting Class B minority interest in ONEOK Holdings and is considered credit-enhancing by rating agencies
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Midstream energy services provider
oneok.comLast updated
In short: ONEOK closed a $9 billion equity deal with Apollo, acquired $4.4 billion in Permian assets, and raised its 2026 financial guidance.
The transaction involves a nonvoting Class B minority interest in ONEOK Holdings and is considered credit-enhancing by rating agencies
ONEOK purchases Permian assets for $4.425 billion funded by a $9 billion Apollo investment used to extinguish $5 billion in debt.
Net income rose 13% to $967 million and full-year guidance increased, driven by record NGL volumes and completed pipeline expansions.
Adjusted EBITDA rises 13% to $2.0 billion. 2026 guidance increases for net income to $3.5 billion midpoint and adjusted EBITDA to $8.25 billion.
ONEOK's Brazos Permian assets deal could lift EBITDA and unlock upside at 11.2x forward EBITDA. Read here for a detailed analysis of OKE stock.
TULSA, Okla., Sept. 10, 2026 (GLOBE NEWSWIRE) -- ONEOK, Inc. (NYSE: OKE) today announced the closing of the previously announced $9 billion minority equity investment...
The energy company secures a $9 billion investment from Apollo Global Management to acquire Brazos Midstream's Permian Basin operations and reduce debt.
ONEOK (OKE) has launched cash tender offers for up to $2 billion of its outstanding senior notes, as...
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