Includes MB-6 NGL Fractionator and Full
Looping of the West Texas NGL Pipeline
TULSA,
Okla., Dec. 4, 2024 /PRNewswire/ -- ONEOK, Inc.
(NYSE: OKE) today announced the completion of MB-6, a
125,000-barrel per day (bpd) natural gas liquids (NGL) fractionator
in Mont Belvieu, Texas, and the
full looping of the West Texas NGL Pipeline system.
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 North America, ONEOK is delivering energy that
makes a difference in the lives of people in the U.S. and around
the world.
ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.
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.
