ONEOK, Inc. (NYSE: OKE) today announced plans to expand its natural gas and natural gas liquids (NGL) infrastructure between now and 2021, including:
- A 200 million cubic feet per day (MMcf/d) expansion of the Bear Creek natural gas processing facility and related infrastructure in the Williston Basin.
- Mid-Continent NGL fractionation facility expansions totaling approximately 65,000 barrels per day (bpd) and additional NGL infrastructure to increase capacity between the Elk Creek and Arbuckle II pipelines.
- A 40,000 bpd additional expansion of the West Texas LPG pipeline in the Permian Basin.
These projects are expected to be financed with cash generated from operations and short- and long-term borrowings. ONEOK continues to expect no equity issuances.
"These low-cost, capital-efficient expansions with attractive returns continue to demonstrate ONEOK's ability to incrementally grow with our customers to meet their needs," said Terry K. Spencer, ONEOK president and chief executive officer.
Read more at https://www.prnewswire.com/news-releases/oneok-announces-expansions-to-natural-gas-and-ngl-infrastructure-300891337.html
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