ONEOK, Inc. sees the Permian Basin as structurally undersupplied on gathering and processing, a view reinforced by Glasscock County’s 169 wells drilled in 2025, led by gas-heavy operators like OXY and Exxon (XTO). The surge in drilling has driven the need for incremental G&P infrastructure, now visible through new midstream permitting tied directly to rising associated gas volumes.
ONEOK Inc has cleared a key regulatory milestone for its Bighorn Gas Processing Plant in the Delaware Basin, with air permit approval now complete at the state level. The approval supports ONEOK’s recently announced final investment decision (FID) and advances the project from planning into execution.
The Midland Basin is entering another build-out phase—and ONEOK is quietly laying the infrastructure that will anchor the next wave of oil, gas, and NGL development. A newly permitted 38.32-mile hazardous liquid pipeline loop, officially known as the Midland Loop (System ID 691127), signals a major expansion across Andrews, Ector, Martin, and Midland counties.
The Permian Basin continues to be a driving force behind U.S. oil and gas production, and ONEOK Inc. is making strategic moves to solidify its position in this critical region. During its Q4 2024 earnings call, ONEOK outlined significant infrastructure expansions, acquisitions, and future growth opportunities in the Permian.
ONEOK and MPLX’s decision to invest in a $1.4 billion liquefied petroleum gas (LPG) export terminal in Texas City aligns with growing global demand for propane and butane, especially in Asian and European markets.
On August 28, 2024, ONEOK, Inc. (NYSE: OKE) announced its plan to acquire Global Infrastructure Partners’ (GIP) entire interest in EnLink Midstream, LLC (NYSE: ENLC) and Medallion Midstream, LLC, significantly enhancing ONEOK’s presence in the Permian Basin and expanding its footprint in the Mid-Continent, North Texas, and Louisiana regions.
ONEOK announced a more than $18 billion deal to acquire Tulsa-based Magellan Midstream Partners, L.P.
