ONEOK Inc. plans to build $1.4 billion natural gas pipeline
The Associated Press - January 5, 2018 11:11 am
TULSA, Okla. (AP) – An Oklahoma natural gas liquids company has announced plans to create a $1.4 billion pipeline system from eastern Montana to the company’s existing facilities in central Kansas.
The Oklahoman reports that ONEOK Inc. has proposed building a 900-mile pipeline to transport up to 240,000 barrels of unfractionated natural gas liquids each day.
The Elk Creek Pipeline will be designed to allow for expansion to 400,000 barrels a day with the creation of additional pumping facilities.
The pipeline is expected to cost $1.2 billion with an additional $200 million in related infrastructure costs.
Company officials say they’ll offer up to 19 million shares of common stock in a public office to help pay for the project.
The pipeline is expected to be operational by the end of 2019.