Oneok acquires remaining interest in Delaware Basin JV for $940M

Oneok (OKE) announced the acquisition of the remaining 49.9% interest in Delaware G&P LLC from NGP XI Midstream Holdings, L.L.C. for $940M, consisting of $530M in cash and $410M in Oneok common stock. Delaware Basin JV owns natural gas gathering and processing facilities in the Delaware Basin in West Texas and New Mexico, with a total processing capacity of more than 700M cubic feet per day. Following the close of the transaction on May 28, ONEOK became the sole owner of Delaware Basin JV.