ONEOK Partners to Invest Up to $355 mln in Additional Growth Projects

ONEOK Partners, L.P. (OKS), a co. that engages in the processing, storage, and transportation of natural gas in the United States, today announced that it plans to invest $300 million to $355 million between now and the end of fiscal 2012 in additional projects in the Bakken Shale in the Williston Basin.

The company said that these investments include $180 million to $205 million for the construction of a new 100 million cubic feet per day natural gas processing facility – the Stateline I plant – in western Williams County, N.D., and related natural gas liquids infrastructure.

ONEOK Partners also said it expects to invest $70 million to $90 million for expansions and upgrades to its existing gathering and compression infrastructure.

OKS shares closed the session down $0.50, or 0.67%, to $74.50.

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