Natural gas transmission company Oneok has announced the completion of two key projects, the MB-6 NGL fractionator in Mont Belvieu, Texas, and the full looping of the West Texas NGL pipeline system.

The MB-6 fractionator, with a capacity of 125,000bpd, increases ONEOK's total fractionation capacity to more than one million barrels per day, reducing reliance on third-party services.

The full looping of the West Texas NGL pipeline system has increased its capacity to 515,000bpd. Planned pump stations set for completion by mid-2025 will boost the capacity further to 740,000bpd.

ONEOK president and chief executive officer Pierce Norton II said: "The completion of these important NGL projects demonstrates our dedication to meeting the needs of our customers by providing reliable midstream solutions.

"These strategic expansions provide critical NGL transportation and fractionation capacity, supporting NGL growth across our integrated operations."

ONEOK is a key midstream operator providing gathering, processing, fractionation, transportation and storage services.

With a 50,000-mile pipeline network, the company transports natural gas, NGLs, refined products and crude oil, supporting both domestic and international energy demand.

In November, ONEOK reached an agreement to acquire the remaining common units of EnLink Midstream in a tax-free transaction valued at $4.3bn.

The acquisition, set to close in the first quarter of 2025, will involve ONEOK issuing approximately 37 million shares.

Under the terms of the deal, each outstanding EnLink unit will be converted into 0.1412 shares of ONEOK common stock.

ONEOK has also agreed to sell three interstate natural gas pipelines – the Guardian pipeline, Midwestern gas transmission and Viking Gas Transmission – to DT Midstream for $1.2bn.

This move is part of ONEOK's strategy to optimise its asset portfolio. The combined 1,300-mile pipeline network has a total capacity of more than 3.7 billion cubic feet per day.