Oneok said it acquired the Sage Creek gas processing facility in Wyoming from an undisclosed seller for $305 million. The site is capable of handling 50 million cubic feet of natural gas from the Powder River basin.
The company said it would invest another $135 million to upgrade pipelines and well connections at the Wyoming site.
"The Sage Creek plant gives Oneok Partners additional natural gas gathering and processing capacity in a region where producers are actively drilling that has significant long-term growth potential," Oneok President Terry Spencer said in a statement Monday.
The company said it already operates more than 1,000 miles of pipelines and associated networks in Wyoming.
The U.S. Energy Department said Wyoming accounted for 9 percent of total U.S. marketed natural gas in 2011. The state produces 40 percent of the nation's coal.