ONEOK raised its 2026 earnings guidance for a second time, increasing adjusted EBITDA midpoint to $8.35 billion and net income midpoint to $3.6 billion.
The Denver-area refined products expansion entered service in August 2026, adding 35,000 barrels per day of capacity and a direct jet fuel connection to Denver International Airport.
ONEOK upsized its Bighorn Permian processing plant to 400 million cubic feet per day from 300 million cubic feet per day, with completion still expected in mid-2027.
ONEOK began construction of the 120 million cubic feet per day Cutter 2 processing plant in the Powder River Basin, expected online in the first quarter of 2028.
Phase 1 of the Medford fractionation project remains on track for completion in the fourth quarter of 2026, adding Mid-Continent NGL fractionation capacity.
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