Oneok Expands its Footprint in the Delaware Basin

ONEOK, Inc. (NYSE:OKE) is one of the 12 Best Natural Gas Stocks to Buy According to Analysts.

ONEOK, Inc. (NYSE:OKE) recently announced that it has acquired the remaining 49.9% interest in its Delaware Basin JV from NGP XI Midstream Holdings for $940 million. The deal includes $530 million in cash and $410 million in ONEOK common stock, positioning the energy infrastructure company as the sole owner of the joint venture, which boasts a total processing capacity exceeding 700 million cubic feet per day.

ONEOK, Inc. (NYSE:OKE) is well-positioned to benefit from the increasing natural gas demand and remains engaged in active negotiations across its system related to power demand for data centers in Oklahoma and Texas. The company recently completed its Oklahoma and natural gas storage expansion project, adding 4 Bcf of working storage capacity, which is 80% committed with third-party contracts.

Moreover, the company’s Jefferson Island storage hub expansion project in Louisiana is also underway, which will increase its total storage capacity by approximately 8.5 Bcf.

ONEOK, Inc. (NYSE:OKE) is one of the largest diversified energy infrastructure companies in the US, owning and operating an extensive network of NGLs, natural gas, refined products, and crude oil assets.

While we acknowledge the potential of OKE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.