ONEOK Sanctions $365MM Sour Gas Plant in Delaware Basin
The Big Horn plant will have a capacity of 300 MMcf/d and have the ability to treat gas with a high amount of CO2. The project is supported by dedicated production acres and is expected to be complete by mid-2027.
Sour gas treatment has become a big topic in the Delaware processing sector. Less than a week before ONEOK publicized the project, MPLX announced a $2.38 billion agreement to buy Northwind Midstream, a company specializing in sour gas processing in the basin.
ONEOK's Big Horn plant will increase the company's Delaware processing capacity to 1.1 Bcf/d.
'The Permian Basin continues to be a key area of strategic growth for us, and we will continue to be actively engaged and intentional in assessing opportunities to expand and enhance our integrated operations within the basin,' said Sheridan Swords, ONEOK chief commercial officer, during the company's second quarter earnings conference call.
Overall, Tulsa-based ONEOK reported increasing natural gas traffic on its network in the second quarter.
Swords reported that, following a seasonally down first quarter, natural gas volumes increased and the company saw double-digit NGL growth across all regions. The company's entire NGL network transported about 1.527 MMbbl/d, an 18% increase in volume, according to the company's report.
For the rest of the year, ONEOK has kept its original 2025 financial guidance ranges, including a net income of between $3.1 billion to $3.6 billion. The company, however, decreased its projected 2026 earnings guidance by 2% due to caution caused by an unstable macroenvironment, said Walter Hulse, ONEOK's CFO.
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