ONEOK Partners plans upgrades
TULSA — ONEOK Partners L.P plans to spend $365 million to $470 million over the next two years on new natural gas processing infrastructure in southern Oklahoma, the Tulsa-based midstream partnership said Thursday. The upgrades would include a new 200-million-cubic-feet-per-day natural gas processing facility and related infrastructure in Grady and Stephens counties to gather and process natural gas from the emerging South Central Oklahoma Oil Province (SCOOP). The Knox plant is expected to cost $175 million to $240 million. ONEOK Partners also said it plans to spend $190 million to $230 million for the construction of related natural gas infrastructure, including natural gas gathering pipelines and natural gas compression. The project is expected to boost ONEOK Partners’ processing capacity in Oklahoma to 900 million cubic feet per day.
State energy index shows gains
For the first time since December 2013, all Oklahoma Energy Index variables trended in a positive direction, with significant gains in industry employment, rig counts and the Oklahoma energy portfolio. “The growth in employment and drilling activity reinforces Oklahoma’s substantial contribution to not only the energy industry’s progress but also the strengthening of our economy,” said Chris Mostek, vice president of energy lending for Bank SNB. The energy index is a comprehensive measure of the state’s oil and gas production economy established to track industry growth rates and cycles in one of the country’s most active and vibrant energy-producing states.
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