Oneok acquires NGL assets in Permian Basin

November 19, 2014 By    

Oneok Partners LP agreed to acquire natural gas liquids (NGL) pipelines and related assets from affiliates of Chevron Corp. for about $800 million, the partnership announced.

The transaction includes an 80 percent interest in West Texas LPG Pipeline LP and 100 percent interest in the Mesquite Pipeline, which collectively consist of about 2,600 miles of NGL gathering pipelines extending from the Permian Basin in southeastern New Mexico to East Texas and Mont Belvieu, Texas.

Following the closing of the transaction, Oneok Partners will operate both pipelines. Martin Midstream Partners LP owns the remaining 20 percent of West Texas LPG.

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