Wow -- ONEOK To Increase Investments in the Bakken

Updates

May 22, 2017: announces completion of new Bakken offices in Sidney, MT.
 
March 1, 2017: very upbeat 4Q16 and full year report.

December 2, 2016: one year ago,  shares trading at $20; today, shares trading at $55.

January 15, 2015: corporate presentation, January 8, 2015.

January 14, 2015: ONEOK increases dividend. 

December 15, 2014: ONEOK to add de-ethanizers at their two NG plants west of Williston, Stateline I and Stateline II.

July 30, 2013: update on projects in the Bakken for 2Q13.

January 17, 2013: ONEOK announces it will build a fifth natural gas gathering and procession plant in North Dakota, to be named Garden Creek III. 

December 10, 2012: public hearing on Garden Creek II, to be co-located with Garden Creek 1, ten miles northeast of Watford City; 100 million cubic feet/day of natural gas; 

November 27, 2012: ONEOK will not go forward with Bakken Crude Express Pipeline.

October 22, 2012:  Link to Oil & Gas Journal here, re: ONEOK, update:

Data points:

• ONEOK announces "open season" for previously announced Bakken Crude Express Pipeline
• 1,300 mile crud oil pipeline
• from Williston Basin to Cushing hub
• 200,000 bopd
• construction to begin in early 2014; completion by mid-2015

September 24, 2012: Earnings forecast; dividend increase; outstanding report; 

September 7, 2012: ONEOK's presentation at Barclays. SeekingAlpha.com transcript here.

September 5, 2012: ONEOK presents at Barclays; transcript.

September 2, 2012:  Update on the ONEOK Bakken NGL Pipeline; problems in Crook County, Wyoming

Original Post

A huge "thank you" to a reader for sending me this note; I would have missed it.

The other day, in a series of comments regarding natural gas and ONEOK, I came very, very close to suggesting it was just a matter of time before ONEOK would announce another natural gas gathering and processing plant. Wow, I wish I had posted that, but I have become so well-known for my bias regarding the Bakken, I have backed off adding comments about what I think we might see in the Bakken.

Here's that story from Yahoo!Finance:

ONEOK Partners, L.P. today announced plans to invest approximately $980 million to $1.1 billion between now and 2014 to:

• Build a new 75,000 barrel-per-day (bpd) natural gas liquids (NGL) fractionator, MB-3, at Mont Belvieu, Texas, and related infrastructure;
• Build a new 100 million cubic feet per day (MMcf/d) natural gas processing facility – the Garden Creek II plant – in eastern McKenzie County, N.D., in the Bakken Shale in the Williston Basin, and related infrastructure;
• Increase capacity on the Bakken NGL Pipeline to 135,000 bpd from 60,000 bpd; and
• Build a new 40,000 bpd Ethane/Propane (E/P) splitter at Mont Belvieu, Texas.

This is an incredible announcement coming when it does -- regular readers have been treated to a series from articles from RBN Energy, ISA, and from readers talking about the coming natural gas boom in North Dakota.

And don't forget this Forbes article that Don sent me some time ago and I linked: natural gas is headed to $8.00.