Oneok invests in Bakken Shale projects

Natural-gas distributor Oneok has announced that it will invest approximately $405m (£263m) to $470m between now and the end of 2011 for projects in the Bakken Shale in the Williston Basin, North Dakota, and in the Woodford Shale in Oklahoma.  

These projects are part of the previously announced $2.5bn to $3.5bn of growth projects that the company has identified for investment between now and the end of 2015.

These investments include construction of a 100m cubic feet per day natural-gas processing facility – the Garden Creek plant – in eastern McKenzie County, North Dakota, and related expansions that are estimated to cost between $150m and $210m, and will double the company’s natural-gas processing capacity in the Williston Basin upon completion in the fourth quarter of 2011.

Oneok’s natural-gas gathering and processing segment will invest a further $200m to $205m during 2010 and 2011 for new well connections, expansions and upgrades to its existing natural-gas gathering system infrastructure in the Bakken Shale.