American oil and gas midstream operator, ONEOK Inc., has acquired the remaining interest in the Delaware Basin pipeline system, gaining complete control of the infrastructure. 

The company said Tuesday, May 3, 2025, it acquired the remaining 49.9% stake in pipeline owner Delaware G&P LLC, also known as the Delaware Basin JV, from NGP XI Midstream Holdings for $940 million. This consisted of $530 million in cash and ONEOK common stock worth $410 million. 

Delaware Basin JV owns natural gas gathering pipelines and processing facilities with a daily processing capacity of over 700 million cubic feet of gas. The company’s gas gathering and processing infrastructure is mainly located in the Delaware Basin in West Texas and New Mexico. 

With the transaction completed on May 28, 2025, the Tulsa-based S&P 500 company remains the sole owner of the Delaware Basin JV pipeline. 

The pipeline infrastructure will add to ONEOK’s existing network, which spans over 60,000 miles (96,560 kilometres), transporting natural gas liquids, crude oil, and refined products.