NEW YORK (AP) -- ConocoPhillips said Monday it plans to expand the processing capacity at a Texas natural gas liquids plant it owns with Devon Energy Corp. and Targa Resources Partners at a cost of $75 million.
The Gulf Coast Fractionators partnership will increase its processing capacity by 42 percent to 145,000 barrels per day at the plant in Mont Belvieu, Texas. The company said the expansion will be operational during the second quarter of 2012 and is subject to regulatory approvals.
Conoco shares added 34 cents to $59.95 in afternoon trading. Devon added 61 cents to $67.38 per share and Targa Resources added 79 cents, or 2.7 percent, to $29.97 a share.
The Gulf Coast Fractionators partnership will increase its processing capacity by 42 percent to 145,000 barrels per day at the plant in Mont Belvieu, Texas. The company said the expansion will be operational during the second quarter of 2012 and is subject to regulatory approvals.
Conoco shares added 34 cents to $59.95 in afternoon trading. Devon added 61 cents to $67.38 per share and Targa Resources added 79 cents, or 2.7 percent, to $29.97 a share.
