19-04-2012
ONEOK Partners to invest $340M to $360M for additional projects in Cana-Woodford shale
ONEOK Partners, L.P. today announced plans to invest approximately $340 million to $360 million between now and the first quarter of 2014 to construct a new natural gas gathering and processing plant and related infrastructure in the Cana-Woodford Shale in Oklahoma.
These investments include approximately $190 million for the construction of a new 200 million cubic feet per day (MMcf/d) natural gas processing facility - the Canadian Valley plant - in Canadian County, Okla. - which is expected to be in service first quarter of 2014.
In addition to the investments for the Canadian Valley plant, ONEOK Partners also expects to invest approximately $160 million for expansions and upgrades to its existing natural gas gathering and compression infrastructure, increasing the partnership's capacity to gather and process natural gas to 390 MMcf/d in the Cana-Woodford Shale.
"Additional natural gas processing infrastructure is necessary to accommodate increased production of liquids-rich natural gas in the Cana-Woodford Shale where we have substantial acreage dedications from active producers," said Pierce H. Norton, executive vice president and chief operating officer of ONEOK Partners. "The new Canadian Valley plant will be located in the center of the prolific Cana-Woodford Shale and in close proximity to the partnership's existing natural gas and natural gas liquids pipelines."
When completed, the Canadian Valley plant will be the partnership's largest natural gas processing facility in Oklahoma and will increase the partnership's total natural gas processing capacity in the state to 690 MMcf/d. Additionally, the natural gas liquids produced from the new plant is expected to add incremental volumes to the partnership's extensive Oklahoma natural gas liquids system.
The partnership now has announced a total investment of $4.7 billion to $5.7 billion through 2015 for growth projects in natural gas gathering and processing, natural gas liquids and crude-oil infrastructure.
Of these projects, approximately $1.4 billion to $1.6 billion are for natural gas gathering and processing projects, which, in aggregate, are expected to generate EBITDA (earnings before interest, taxes, depreciation and amortization) multiples of five to seven times. The incremental earnings from these projects are expected to increase distributable cash flow and value to unitholders in the form of higher distributions.
The partnership has a $1 billion-plus backlog of unannounced growth projects that it continues to evaluate. Additional projects included in this backlog will be announced when sufficient supply commitments are completed.
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
MOL inaugurates its polyol complex in Tiszaújváros
MOL's EUR 1.3 billion polyol complex in Tiszaújváros, boasting a capacity of around 200,000 tonnes of polyol per year, has been inaugurated. The ceremony, addressed ...
15-05-2024
-
NEXTCHEM completes the acquisition of GasConTec
Further to the announcement made on 4 March 2024, MAIRE announces that NEXTCHEM has finalized the acquisition of 100% of GasConTec GmbH, an innovative company specialized ...
15-05-2024
-
KBR awarded digital solutions contract by OCI
KBR announced today it has been awarded a contract by OCI Global to design and deploy its proprietary operator training simulator for OCI's 3,000 metric tonnes ...
13-05-2024
-
Worley awarded Bayou Bend CCS carbon capture and storage facility contract
We’ve been selected to design and evaluate CO2 gathering, handling and sequestration facilities located along the Gulf Coast in Southeast Texas. Bayou Bend ...
13-05-2024
-
Black & Veatch delivers feasibility study for Andes Energy LNG Terminal
Global liquefied natural gas (LNG) infrastructure solutions leader Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, LNG regasification ...
09-05-2024
-
Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC
Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company ...
08-05-2024
-
Integrated Global Services recognized for role in mega turnaround
Integrated Global Services has been recognized as a major contributor to the successful Ras Tanura Refinery 2024 Mega Turnaround and Inspection for Saudi Arabian Energy ...
08-05-2024
-
Ebara Elliott Energy to provide compressor for SAF project in Thailand
Ebara Elliott Energy, formerly Elliott Group, announces it has been contracted to provide a motor-driven recycle compressor with a variable frequency drive (VFD) for ...
07-05-2024
-
ETH Zurich select hte to provide high throughput test system designed for CO2 electroreduction
hte – the high throughput experimentation company was awarded a contract by the technical university ETH Zurich to provide a high throughput test system designed for ...
07-05-2024