ONEOK says it is committed to reducing flaring in North Dakota

|About: ONEOK Partners, L.P. (OKS)|By:, SA News Editor

ONEOK (OKS, OKE) says it is committed to reducing natural gas flaring in North Dakota as part of the state's new restrictions through new processing projects and additional capacity coming online.

OKS last week announced plans to invest up to $785M to construct a new 200M cf/day natural gas processing facility at Demicks Lake as well as related infrastructure; OKS says natural gas processing capacity in the region will increase to 1.1B cf/day upon the anticipated completion of the projects by Q3 2016.

Oasis Petroleum (NYSE:OAS) also says it could honor North Dakota's new restrictions on natural gas flaring and had connected 96% of its wells in the state to gathering lines.