ONEOK Capex to Reach Peak in 2019

SUGAR LAND--February 28, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream company ONEOK Incorporated (NYSE:OKE) (Tulsa, Oklahoma) is in the midst of a vast growth program, and spending for it is set to reach a peak this year. In the company's fourth-quarter 2018 earnings conference call, Chief Financial Officer Walt Hulse said, "Our capital spending is heavily weighted towards 2019, as the bulk of our largest projects are being placed in service this year and early in 2020. In 2019, we expect approximately $3.1 billion in growth capital expenditures." Projects include two natural gas liquids (NGL) pipelines, NGL fractionators and natural gas processing trains. "With these announced projects," said Hulse, "2020 capex is expected to be significantly less than 2019."

Within this article: Details on key ONEOK projects