ONEOK Partners Announces Open Season for Bakken NGL Pipeline
TULSA, Okla., Nov. 13, 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
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.
For information and documents regarding the open season, please visit
contact Lisa Nishimuta at 918-588-7730, Lisa.Nishimuta@oneok.com.
For commercial information, please contact Alan McElhaney at (918) 588-7692
Alan.Mcelhaney@oneok.com or Tim King at (918) 732-1339 Tim.King@oneok.com.
Separately, the partnership announced on Sept. 18, 2012, that it is holding an
open season for its previously announced Bakken Crude Express Pipeline, a
1,300-mile crude-oil pipeline with the initial capacity to transport 200,000
barrels per day of light-sweet crude oil from the Bakken Shale in the
Williston Basin in North Dakota to the Cushing, Okla., crude-oil market hub.
The open season began on Sept. 21, 2012, and concludes Nov. 20, 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.
Forward-looking statements include the items identified in the preceding
paragraph, the information concerning possible or assumed future results of
our operations and other statements contained or incorporated in this news
release identified by words such as "anticipate," "estimate," "expect,"
"project," "intend," "plan," "believe," "should," "goal," "forecast,"
"guidance," "could," "may," "continue," "might," "potential," "scheduled" and
other words and terms of similar meaning.
One should not place undue reliance on forward-looking statements, which are
applicable only as of the date of this news release. Known and unknown risks,
uncertainties and other factors may cause our actual results, performance or
achievements to be materially different from any future results, performance
or achievements expressed or implied by forward-looking statements. Those
factors may affect our operations, markets, products, services and prices.
Other factors could also have material adverse effects on our future results.
These and other risks are described in greater detail in Part I, Item 1A, Risk
Factors, in the Annual Report. All forward-looking statements attributable to
us or persons acting on our behalf are expressly qualified in their entirety
by these factors. Other than as required under securities laws, we undertake
no obligation to update publicly any forward-looking statement whether as a
result of new information, subsequent events or change in circumstances,
expectations or otherwise.
SOURCE ONEOK Partners, L.P.
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