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It’s forming a joint venture with a hyperscaler and a power producer to build a large gas-fired plant in the Permian Basin, using its own gas. CEO Travis Stice explained the motivation simply: “We’re figuring out how to turn that gas into more value for shareholders.”
Natural Gas Processing Capacity Growth ONEOK is relocating a 150 MMcf/d natural gas processing plant from North Texas to the Permian Basin. This move supports the companys growing gas gathering and processing footprint. Total Permian gas processing volumes are projected to reach ~1.6 Bcf/d in 2025.
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