Summary
ONEOK Inc. (OKE), through its subsidiary ONEOK Partners, L.P., announced significant capital investment plans for natural gas liquids (NGL) projects. The company intends to invest between $180 million and $240 million from the current date through the first half of 2012. This investment will be directed towards NGL projects located in the strategic Cana-Woodford Shale and Granite Wash plays, which are known for their rich natural gas reserves. This strategic expansion highlights ONEOK's commitment to capitalizing on the growing opportunities within the NGL sector, driven by the increasing production from shale formations. The targeted plays are expected to provide substantial volumes of NGLs, and these investments will enhance the gathering, processing, and transportation infrastructure to support this growth. Investors should view this as a positive signal of the company's forward-looking strategy and its efforts to increase its footprint and revenue streams in a key energy market.
Key Highlights
- 1ONEOK Partners, L.P. plans to invest $180 million to $240 million in NGL projects.
- 2Investment timeframe is from December 2010 through the first half of 2012.
- 3Projects will focus on the Cana-Woodford Shale and Granite Wash plays.
- 4This investment signals a strategic expansion into key natural gas liquids-rich areas.
- 5The announcement was made via a news release dated December 15, 2010, attached as an exhibit.
- 6Information is furnished under Regulation FD and not deemed 'filed' for certain legal purposes.