ONEOK Inc. has completed the acquisition of a 49.9% interest in the Delaware Basin Joint Venture for $940 million.
The acquisition expands ONEOK’s presence in the Permian Basin, aligning with the company’s growth strategy in the region.
Key details of the acquisition include:
- Acquisition price: $940 million
- Interest acquired: 49.9% of the Delaware Basin Joint Venture
The acquisition is expected to advance ONEOK’s growth strategy in the Permian Basin.
ONEOK’s stock has shown a moderate increase in value, outperforming the energy sector. However, its impact on the stock price remains to be seen.
Financial Performance ONEOK’s stock price has increased, but the extent of this increase is not specified. The company’s financial performance will be closely monitored to assess the impact of this acquisition.
Future Outlook The acquisition is seen as a positive development for ONEOK, but its long-term effects on the company’s growth strategy and financial performance will be evaluated over time.