ONEOK Partners announces open season for Bakken NGL Pipeline
Wednesday, Nov 14, 2012
TULSA, Okla., Nov. 13, 2012 /PRNewswire/ -- ONEOK Partners, L.P. (NYSE: OKS) today announced that it is holding an open season for its previously announced Bakken Natural Gas Liquids (NGL) Pipeline.
The Bakken NGL Pipeline is an approximately 600-mile pipeline that will transport unfractionated NGLs from the Bakken Shale in the Williston Basin to an interconnection with the partnership's 50 percent-owned Overland Pass Pipeline in northern Colorado. The Bakken NGL Pipeline is currently under construction and is expected to be in service during the first quarter of 2013.
Additionally, the partnership announced plans in July 2012 to expand the pipeline's capacity by installing additional pump stations. This expansion is expected to be completed in the third quarter of 2014.
The open season process provides potential shippers the opportunity to make volume commitments and execute long-term transportation contracts with ONEOK Partners in exchange for priority transportation service on both the initial and expanded pipeline capacities. The open season will begin Nov. 19, 2012, and conclude Dec. 17, 2012.
ONEOK Partners, L.P. (pronounced ONE-OAK) (NYSE: OKS) is one of the largest publicly traded master limited partnerships, and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. Its general partner is a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE), a diversified energy company, which owns 43.4 percent of the overall partnership interest.
ONEOK is one of the largest natural gas distributors in the United States, and its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S.
Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act, as amended, and Section 21E of the Exchange Act, as amended. The forward-looking statements relate to our proposed construction of the Bakken NGL Pipeline and the expected schedule for completion of construction set forth in this news release and any statements related to anticipated financial performance, liquidity, management's plans and objectives for our future operations, our business prospects, the outcome of regulatory and legal proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
SOURCE ONEOK Partners, L.P.
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