Summary
ONEOK, Inc. (OKE), through its subsidiary ONEOK Partners, L.P., has announced significant expansion plans for its natural gas liquids (NGL) infrastructure. The company intends to invest between $910 million and $1.2 billion through late 2013. This substantial capital expenditure is earmarked for the construction of a new NGL pipeline originating from the Mid-Continent region and extending to the Texas Gulf Coast. Additionally, the company plans to reconfigure its existing Sterling I and II pipelines and build a new fractionator to enhance its service capabilities in the Gulf Coast market.
Key Highlights
- 1ONEOK Partners, L.P. plans a capital investment of $910 million to $1.2 billion through late 2013.
- 2A new natural gas liquids (NGL) pipeline will be constructed from the Mid-Continent region to the Texas Gulf Coast.
- 3Existing Sterling I and II pipelines will be reconfigured.
- 4A new fractionator will be built to serve the Gulf Coast market.
- 5These investments aim to expand and enhance ONEOK's NGL infrastructure and market reach.
- 6The announcement was made via a news release on May 2, 2011, filed on May 3, 2011.