ONEOK Partners announces $465M-$500M project investments through 2015

theflyonthewall.com

ONEOK Partners, L.P. announced plans to invest approximately $465M to $500M between now and 2015 to: build a new 100MMcf/d natural gas processing facility in eastern McKenzie County, N.D., in the Williston Basin, which includes the prolific Bakken Shale and Three Forks formations; construct a new 95-mile natural gas liquids pipeline between existing NGL fractionation infrastructure at Hutchinson, Kan., and Medford, Okla.; and modify the partnership's NGL fractionation infrastructure at Hutchinson, Kan., to accommodate lighter, unfractionated NGLs produced in the Williston Basin. The partnership now has announced total investments of approximately $4.7B to $5.3B through 2015 for infrastructure growth projects related to natural gas gathering and processing, and natural gas liquids. In aggregate, these projects are expected to generate EBITDA multiples of 5 to 7 times. The incremental earnings from these projects are expected to increase distributable cash flow and value to unitholders in the form of higher distributions.

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