ONEOK To Invest Up To $680 Mln For Gas Processing Facilities In Dakota, Wyoming

(RTTNews) - ONEOK Partners L.P. (OKS) said Monday it plans to invest about $480 million to $680 million between now and the end of the third quarter 2016 to build natural gas processing facilities in North Dakota and Wyoming.

The company will build a new 80-million cubic feet per day (MMcf/d) natural gas processing facility - the Bear Creek plant - and related infrastructure in northwest Dunn County, North Dakota, which will process natural gas produced from the Bakken Shale in the Williston Basin.

Also it will construct a new 100-MMcf/d natural gas processing facility - the Bronco plant - and related infrastructure in southern Campbell County, Wyoming, which will process natural gas produced from the NGL-rich Turner, Frontier, Sussex and Niobrara Shale formations in the Powder River Basin.

"The Bear Creek and Bronco plants will increase our natural gas processing capacity across our operating footprint by 180 MMcf/d and add additional natural gas and natural gas liquids volumes on our systems. These projects further demonstrate the value of the partnership's integrated operations that allows us to better serve area producers," said CEO Terry Spencer.

The partnership has strategically positioned capital-growth projects in multiple high-growth NGL-rich areas, including the Williston Basin, the Powder River Basin, and the Cana-Woodford and SCOOP plays in Oklahoma resulting in increased natural gas processing capacity across the partnership's operating footprint.