Boston, MA 08/29/2014 (wallstreetpr) – ONEOK, Inc. (NYSE:OKE)’s Garden Creek II 100 MMcf/d Natural Gas processing facility is completed and has started the operations. The facility is located in eastern McKenzie County in North Dakota. The new plant is a part of the partnership capital growth program through 2016. The partnerships are expected to invest around $7.0 million and $7.5 billion in infrastructure growth projects and acquisitions.
The increased capacity
Terry.K Spencer, President and the CEO said that ONEOK, Inc. (NYSE:OKE) is expanding its essential natural gas and natural gas liquids capacity in the Williston Basin. Its natural gas processing capacity at Williston Basin now exceeds 500 MMcf/d. The capacity has multiplied by five times as compared to the capacity in 2010. The enhanced production is in line with the increasing demands of customers. As the Garden Creek III plant completes, Spencer expects the capacity to exceed 600 MMcf/d in the fourth quarter of 2014.
The infrastructure expansion
The natural gas processing capacity at Williston Basin is expected to touch 1.1 billion cubic feet per day by third quarter of 2016. The on-going natural gas infrastructures plans in the region are:
- First is Garden Creek III plant in the Williston Basin, which is expected to complete in fourth quarter 2014.
- Second is Lonesome Creek plant natural gas processing facility, expected to complete in the fourth quarter of 2015.
- Third is The Demicks Lake Plant natural gas processing facility expected to complete in the third quarter of 2016
- ONEOK, Inc. (NYSE:OKE) will look to construct additional natural gas compression as the processing capacity at the Garden Creek and Stateline natural gas processing plants can cross the expectations by a total of 100 MMcf/d.
Grabbing opportunities
ONEOK, Inc. (NYSE:OKE) is making complete use of the opportunities offered by the various partnerships in Williston Basin. It can also announce an additional natural gas processing capacity in Williston Basin by the end of the year.
