TULSA, OKLA. -- ONEOK, Inc. (NYSE: OKE) signed a definitive agreement on Aug. 30, 2026, to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash. Funds and affiliates managed by Apollo (NYSE: APO) will fund the purchase through a $9 billion nonvoting minority equity investment in ONEOK, with $5 billion of that sum earmarked to retire existing ONEOK debt. ONEOK's board approved both transactions unanimously, and the Brazos acquisition is expected to close in the fourth quarter of 2026.