ONEOK Announces Permian-to-Gulf Coast Region Joint Venture Natural Gas Pipeline
ONEOK Announces Permian-to-Gulf Coast Region Joint Venture Natural Gas Pipeline |
| [25-August-2025] |
Eiger Express Pipeline to Provide Natural Gas Transportation Solution for Growing Permian Basin Production TULSA, Okla., Aug. 25, 2025 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE), WhiteWater, MPLX LP (NYSE: MPLX) and Enbridge Inc. (NYSE: ENB), through the existing Matterhorn joint venture (Matterhorn JV), announced a new natural gas pipeline to transport growing natural gas production from the Permian Basin to the Gulf Coast region. The approximately 450-mile, 42-inch Eiger Express Pipeline is designed to transport up to approximately 2.5 billion cubic feet per day (Bcf/d) of natural gas from the Permian Basin in West Texas to the Katy area near Houston, Texas, and holds reserved capacity for deliveries to the Corpus Christi, Texas, market. The pipeline will source natural gas from processing facilities, including those owned by ONEOK and MPLX, and pipeline connections in the Midland and Delaware basins. The Eiger Express Pipeline joint venture is owned 70% by the Matterhorn JV, 15% by ONEOK and 15% by MPLX. ONEOK's total ownership interest in the pipeline is 25.5%, which includes its ownership interest in Matterhorn JV. "This important infrastructure project is needed to provide additional transportation capacity out of the highly productive Permian Basin," said Pierce H. Norton II, ONEOK president and chief executive officer. "This pipeline's strategic location offers connectivity to growing natural gas demand markets, helping to meet the need for increasing electricity generation and international demand for liquified natural gas (LNG) exports." The pipeline is supported by firm transportation agreements with contract terms of 10 years or longer. WhiteWater will construct and operate the pipeline, which is expected to be completed in mid-2028, pending receipt of customary regulatory and other approvals. At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram. About the Matterhorn Joint Venture: About WhiteWater: About MPLX LP: About Enbridge Inc.: Forward-Looking Statements: Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "intend," "may," "might," "outlook," "plan," "potential," "project," "scheduled," "should," "will," "would" and other words and terms of similar meaning. One should not place undue reliance on forward-looking statements. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements, including, without limitation, ONEOK being unable to achieve the anticipated benefits of the transaction. Those factors may affect our operations, markets, products, services and prices. These and other risks are described in greater detail in Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and in the other filings that we make with the Securities and Exchange Commission (SEC), which are available on the SEC's website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Any such forward-looking statement speaks only as of the date on which such statement is made, and, other than as required under securities laws, we undertake no obligation to update publicly any forward-looking statement whether as a result of new information, subsequent events or change in circumstances, expectations or otherwise.
SOURCE Oneok, Inc. | ||||||||||
Company Codes: NYSE:OKE,NYSE:ENB,NYSE:MPLX |
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