Oneok Bets $4.425 Billion on Brazos Assets To Expand Permian Operations
ONEOK plans to acquire Brazos Midstream’s Permian Midland Basin assets for $4.425 billion, more than doubling its processing capacity to approximately 2.3 Bcf/d.
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Cheniere Energy shares rise after Q2 revenue beat estimates, while the company raised its 2026 adjusted EBITDA and distributable cash flow guidance.
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ONEOK plans to acquire Brazos Midstream’s Permian Midland Basin assets for $4.425 billion, more than doubling its processing capacity to approximately 2.3 Bcf/d.
Cheniere Energy is reportedly negotiating with QatarEnergy to supply 2-3 MTPA of LNG through 2031 to replace volumes disrupted by damage to Qatar's Ras Laffan facility. Cheniere's Q2 production rose 20% year-over-year, and the company raised its 2026 forecast to 53-54 million tons. With over 6 MTPA under construction at Corpus Christi and additional expansion plans, Cheniere is well-positioned to capitalize on growing global LNG demand.
Scotiabank analyst Brandon Bingham maintains Cheniere Energy (NYSE:LNG) with a Sector Outperform and raises the price target from $290 to $312.
CNBC's final trades spotlighted Pinnacle Financial, Cheniere Energy and Freeport-McMoRan, with analysts citing bullish outlooks and strong results.