ONEOK’s 3Q26 call centered on a growing slate of processing and pipeline capacity, much of it anchored by the October close of Brazos Midstream’s Midland Basin assets (see New Level). Brazos’s existing 550 MMcf/d of processing is running at capacity, so the 330-MMcf/d Cassidy I plant entering service at year-end 2026 should fill quickly, followed by the 330-MMcf/d Cassidy II in 3Q27. ONEOK is already tying the Brazos and legacy Midland systems together and said Brazos’s oversized gathering lines let it skip a planned expansion of a legacy mainline.
In the Delaware, ONEOK completed 110 MMcf/d of processing expansions in 3Q26, with volumes expected to ramp to max capacity in early 2027, ahead of the 400-MMcf/d Bighorn plant in 2Q27. Altogether, ONEOK expects more than 1.3 Bcf/d of Permian processing additions by early 2028, plus 180 MMcf/d in the Powder River Basin from Cutter I (60 MMcf/d, 4Q26) and Cutter II (120 MMcf/d, 1H28).
ONEOK’s major projects are shown in the table below.
