* To build projects by H2 2012 * Projects in Cana-Woodford
Shale and Granite Wash plays
Dec 15 Natural gas processor ONEOK Partners
L.P. (OKS.N) said it plans to spend up to $240 million to build
natural gas liquids (NGL) projects by the first half of 2012 in
the Cana-Woodford Shale and Granite Wash plays.
The company has made at least two such NGL project
investments earlier this year. In July, ONEOK said it plans to
spend up to $730 million to build natural gas liquids projects
by 2013. [ID:nSGE66P0MR]
When the projects are completed, about 75,000 to 80,000
barrels per day of raw, unfractionated NGLs will be added to
the company's existing NGL gathering systems in the
Mid-Continent and the Arbuckle Pipeline.
Natural-gas liquids like ethane, propane and condensates
are stripped out of natural gas by fractionation plants.
Shares of the company closed at $80.07 Wednesday on the New
York Stock Exchange. They have risen about 13 percent since the
company's last NGL project investment announcement in July.
(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by