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US: ONEOK nabs natural gas pipelines from Chevron

 |  October 28, 2014

ONEOK Partners announced Tuesday that it has secured a deal with affiliates of Chevron to acquire various natural gas pipelines and other assets in an $800 million buyout.

According to a press release, ONEOK will take an 80 percent stake in the West Texas LPG Pipeline and wholly acquire the Mesquite Pipeline that extends through New Mexico and Texas.

The buyouts will also impact markets in North Dakota, Oklahoma and Wyoming, ONEOK said.

Reports say the takeovers are part of the Permian Basic, the largest crude oil and natural gas-producing basin in the nation.

The deal remains subject to regulatory approval.

Full content: CNN

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