ONEOK Emphasizes Capital Flexibility as It Pauses Projects

SUGAR LAND--May 1, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--While midstream company ONEOK Incorporated (NYSE:OKE) (Tulsa, Oklahoma) recently wrapped up several major projects, the company is pressing the pause button on others. ONEOK has announced two reductions in planned 2020 capital expenditures (capex) since the COVID-19 pandemic began and now expects capex for the year to be in the range of $1.4 billion to $1.8 billion, $900 million of which was spent in the first quarter, leaving approximately 40% for the remaining three quarters.