ONEOK, Inc. has accomplished MB-6, a 125,000-barrel per day (bpd) pure fuel liquids (NGL) fractionator in Mont Belvieu, Texas, and the total looping of the West Texas NGL Pipeline system.
The Tulsa, Oklahoma-based firm stated in a information launch that the completion of MB-6 will increase the corporate’s fractionation capability to a couple of million bpd, “lowering the necessity for third-party fractionation and enhancing ONEOK’s skill to serve rising NGL market demand”.
The completion of the total looping of the West Texas NGL Pipeline system expands its capability to 515,000 bpd. Further pump stations, that are anticipated to be accomplished in mid-2025, will additional enhance system capability to 740,000 bpd, ONEOK famous.
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“The completion of those necessary NGL initiatives demonstrates our dedication to assembly the wants of our clients by offering dependable midstream options,” ONEOK President and CEO Pierce Norton II stated. “These strategic expansions present important NGL transportation and fractionation capability, supporting NGL progress throughout our built-in operations”.
In June, ONEOK accomplished its acquisition of a system of pure fuel liquids (NGL) pipelines from Easton Vitality for roughly $280 million.
The transaction included roughly 450 miles of liquids merchandise pipelines positioned within the strategic Gulf Coast market facilities for NGLs, refined merchandise and crude oil. ONEOK stated it plans to attach the pipelines to its Mont Belvieu, Texas, NGL infrastructure and ONEOK’s Houston refined merchandise and crude oil infrastructure.
“The closing of this strategic acquisition supplies rapid earnings, expands our pure fuel liquids asset portfolio and accelerates ONEOK’s skill to seize industrial synergies associated to our latest acquisition of Magellan,” Norton stated. “These new property provide important connectivity between important Gulf Coast provide and demand facilities”.
Just lately, ONEOK introduced it deliberate to buy the remaining issued share capital of EnLink Midstream LLC, which it not too long ago took over from International Infrastructure Companions (GIP). A month earlier, it had closed the acquisition is for 43 p.c of Enlink’s excellent frequent items for $14.90 per unit and 100% of the pursuits within the managing member for $300 million, for complete money consideration of roughly $3.3 billion.
Anticipated to conclude within the first quarter of 2025, the transaction is topic to customary closing circumstances together with approval by a majority of holders of excellent EnLink frequent shares, ONEOK stated.
Final month, ONEOK additionally agreed to promote three pure fuel pipelines with an combination capability of three.7 billion cubic ft a day (Bcfd) to DT Midstream Inc. for $1.2 billion, in accordance with an earlier joint assertion.
The transaction entails 1,300 miles of pipelines straddling seven states “within the enticing Midwest market area which is anticipated to expertise continued progress in energy demand”, DT Midstream stated in an announcement. The transaction is anticipated to shut by the tip of 2024 or early 2025.
ONEOK describes itself as a number one midstream operator that gives gathering, processing, fractionation, transportation and storage companies. By its pipeline community, the corporate transports pure fuel, pure fuel liquids (NGLs), refined merchandise and crude oil.
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