Fort Worth’s own Brazos Midstream announced that its natural‑gas gathering and processing assets in the Permian Basin will be sold to ONEOK for $4.4 billion. The transaction, one of the largest ever in the region, will broaden ONEOK’s footprint in one of the nation’s most productive natural‑gas areas.
Deal details and infrastructure impact
The assets include roughly 700 miles of gathering pipelines and the upcoming Cassidy II processing plant, slated for completion in the third quarter of 2027. Once operational, the plant will add 1.2 billion cubic feet per day of processing capacity across seven core Midland Basin counties.
ONEOK already operates a substantial Permian platform, supported by 14 active drilling rigs from major producers such as ExxonMobil, Diamondback Energy and Fort Worth‑based Double Eagle. The acquisition will further solidify the company’s role in moving natural gas from the Permian to markets, especially the Gulf Coast where liquefied natural gas (LNG) exports have surged.
Local perspective
Rey Treviño, director of operations at Pecos Country Energy in Fort Worth, said the deal underscores the importance of robust energy infrastructure. “It’s exciting for the Permian Basin and it’s exciting for Fort Worth,” he noted.
Broader market context
Natural‑gas demand continues to rise, driven by record LNG shipments to Europe—now a critical alternative after the Ukraine conflict—and the growing power needs of AI‑intensive data centers across the United States. According to Ray Perryman of The Perryman Report, U.S. natural‑gas production hit a record 118.5 billion cubic feet per day in 2025, with the Permian accounting for about 23 percent of that output.
The transaction follows a $1.6 billion sale in June, when Western Midstream Partners bought Brazos Midstream’s Delaware Basin pipelines. The current deal is expected to close in the fourth quarter of 2026, pending customary regulatory approvals.
What this means for Fort Worth
Beyond expanding ONEOK’s national reach, the acquisition is likely to create construction and operational jobs in the Fort Worth area and reinforce the city’s reputation as a hub for energy‑related businesses.
Original reporting: Fort Worth Report — read the source article.
