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.
Frequently Asked Questions
The primary purpose is to expand and enhance ONEOK's natural gas liquids (NGL) infrastructure, including building a new pipeline, reconfiguring existing ones, and constructing a new fractionator to serve the growing Gulf Coast market.
The total planned investment ranges from $910 million to $1.2 billion.
The investments are planned to occur between the announcement date (May 2011) and late 2013.
These investments will increase capacity, improve NGL transportation efficiency to the key Gulf Coast market, and enhance fractionation capabilities, supporting growth in the NGL sector.