The Daily Buyout
$4.4BStrategic acquisitionEnergy & UtilitiesCompleted

ONEOK closes $4.4B purchase of Brazos Midstream's Midland Basin assets

ONEOK completed its acquisition of Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for about $4.425 billion in cash. The deal more than doubles ONEOK's Midland processing capacity to roughly 2.3 billion cubic feet per day and adds about 600,000 dedicated acres under long-term fixed-fee contracts.

Why it matters: ONEOK locks in a premier Permian gathering platform backed by contracts averaging more than 12 years remaining.

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Emera and Canadian Utilities agree to merger of equals, with ATCO spinoff

Emera, ATCO and Canadian Utilities announced a definitive agreement to combine Emera and Canadian Utilities in a merger of equals, creating a Canadian utility and energy infrastructure group spanning Alberta, Atlantic Canada and Florida. Reports describe an all-share structure, with ATCO spinning off its industrial services unit. Reported deal figures vary widely by measure, from roughly $14.3 billion for Canadian Utilities to far larger combined-enterprise numbers.

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