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July 24, 2014
16:36 EDTOKE, OKSONEOK to invest $365M-$470M in Oklahoma SCOOP play
ONEOK Partners announced plans to invest approximately $365M-$470M between now and 4Q16 to construct a new 200M cubic feet per day natural gas processing facility, the Knox plant, and related infrastructure in Grady and Stephens counties in Oklahoma to gather and process natural gas from the emerging South Central Oklahoma Oil Province. The Knox plant and related infrastructure, including expansions and upgrades to the partnership's existing natural gas gathering systems and compression are expected to be completed during 4Q16. The partnership has announced total investments of approximately $6.4B-$6.8B through 2016 for acquisitions and infrastructure growth projects related to natural gas gathering and processing, and natural gas liquids, which includes the projects described above. These investments consist of approximately $3.4B-$3.7B for natural gas gathering and processing projects, and approximately $3.0B-$3.1B for natural gas liquids projects. Approximately $3.1B-$3.3B are for growth projects related to resource development in the Williston Basin in North Dakota.
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