Reuters logo
7 years ago
UPDATE 1-ONEOK Partners to invest up to $240 mln in NGL projects
December 15, 2010 / 10:16 PM / 7 years ago

UPDATE 1-ONEOK Partners to invest up to $240 mln in NGL projects

2 Min Read

* To build projects by H2 2012 * Projects in Cana-Woodford Shale and Granite Wash plays

Dec 15 (Reuters) - 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 Vinu Pilakkott)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below