ONEOK Inc. plans to build $1.4 billion natural gas pipeline

Markets Associated Press

An Oklahoma natural gas liquids company has announced plans to create a $1.4 billion pipeline system from eastern Montana to the company's existing facilities in central Kansas.

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The Oklahoman reports that ONEOK Inc. has proposed building a 900-mile (1,448-kilometer) pipeline to transport up to 240,000 barrels of unfractionated natural gas liquids each day.

The Elk Creek Pipeline will be designed to allow for expansion to 400,000 barrels a day with the creation of additional pumping facilities.

The pipeline is expected to cost $1.2 billion with an additional $200 million in related infrastructure costs.

Company officials say they'll offer up to 19 million shares of common stock in a public office to help pay for the project.

The pipeline is expected to be operational by the end of 2019.

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Information from: The Oklahoman, http://www.newsok.com