ONEOK Announces Completion of NGL Fractionation and Pipeline Expansion Projects
Rhea-AI Summary
ONEOK (NYSE: OKE) has announced the completion of two major NGL infrastructure projects. The first is MB-6, a 125,000-barrel per day NGL fractionator in Mont Belvieu, Texas, which increases the company's total fractionation capacity to over 1 million bpd. The second project is the full looping of the West Texas NGL Pipeline system, expanding capacity to 515,000 bpd, with further expansion to 740,000 bpd expected by mid-2025 through additional pump stations.
These strategic expansions enhance ONEOK's ability to serve growing NGL market demand while reducing dependency on third-party fractionation services. The company operates a 50,000-mile pipeline network for transporting natural gas, NGLs, refined products, and crude oil across North America.
Positive
- Completion of MB-6 fractionator adds 125,000 bpd capacity
- Total fractionation capacity now exceeds 1 million bpd
- West Texas NGL Pipeline capacity increased to 515,000 bpd
- Further pipeline capacity expansion to 740,000 bpd planned for mid-2025
- Reduced dependency on third-party fractionation services
Negative
- None.
News Market Reaction – OKE
In the trading session that priced this news, OKE gained 1.27%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Includes MB-6 NGL Fractionator and Full Looping of the West Texas NGL Pipeline
The completion of MB-6 increases the company's fractionation capacity to more than 1 million bpd, reducing the need for third-party fractionation and enhancing ONEOK's ability to serve growing NGL market demand.
Completion of the full looping of the West Texas NGL Pipeline system expands the capacity to 515,000 bpd. Additional pump stations, which are expected to be completed in mid-2025, will further increase system capacity to 740,000 bpd.
"The completion of these important NGL projects demonstrates our dedication to meeting the needs of our customers by providing reliable midstream solutions," said Pierce H. Norton II, ONEOK president and chief executive officer. "These strategic expansions provide critical NGL transportation and fractionation capacity, supporting NGL growth across our integrated operations."
At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in
ONEOK is an S&P 500 company headquartered in
For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram.
Some of the statements contained and incorporated in this news release are forward-looking statements as defined under federal securities laws. The forward-looking statements relate to our anticipated financial performance (including projected capital expenditures and cash flow), liquidity, management's plans and objectives for our future growth projects (including dates for expected completion of growth projects) and other future operations, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under federal securities laws and other applicable laws.
Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "intend," "may," "might," "outlook," "plan," "potential," "project," "scheduled," "should," "will," "would" and other words and terms of similar meaning.
One should not place undue reliance on forward-looking statements. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements, including, without
limitation, ONEOK being unable to achieve the anticipated benefits of the transaction. Those factors may affect our operations, markets, products, services and prices. These and other risks are described in greater detail in Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and in the other filings that we make with the Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Any such forward-looking statement speaks only as of the date on which such statement is made, and, other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.
Analyst Contact:
Megan Patterson
918-561-5325
Media Contact:
Brad Borror
918-588-7582
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SOURCE ONEOK, Inc.