TULSA, Okla., June 24, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- ONEOK Partners, L.P. (NYSE: OKS) announced today that its subsidiary, ONEOK Texas Gas Storage, L.L.C. (OTGS), is holding a non-binding open-season bidding process, which begins June 25, 2009, and concludes July 22, 2009, for firm intrastate natural gas storage at its Loop, Texas, natural gas storage facility.
The open season for this natural gas storage capacity provides customers with the opportunity to bid for up to 5.5 billion cubic feet (Bcf) of storage capacity that will be available with the reactivation of the storage field.
"If there is sufficient interest in the capacity, ONEOK Partners will reactivate our Loop storage field," said Pierce Norton, executive vice president - natural gas of ONEOK Partners. The additional storage space is currently projected to be available in April 2011.
OTGS currently owns and operates fully leased salt and reservoir storages with combined capacities of 4.7 Bcf. The reactivated storage will add an additional 5.5 Bcf of storage to OTGS's existing capacity.
OTGS storage can be accessed by shippers on ONEOK WesTex Transmission, L.L.C. (OWT), a Texas intrastate pipeline serving west Texas local distribution companies, electrical power generators and industrial markets from the northern Texas Panhandle, south through Lubbock, and continuing to delivery points in the Big Spring-Midland-Odessa corridor and El Paso markets. In addition, OWT currently has nine major pipeline interconnects in the active Waha, Texas, market hub.
For information regarding OTGS's open season, please contact Mike Onderick at 918-588-7404 / [email protected].
ONEOK Partners, L.P. (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 47.7 percent of the partnership. 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.
For more information, visit the Web site at www.oneokpartners.com.
Analyst Contact: Christy Williamson
918-588-7163
Media Contact: Megan Washbourne
918-588-7572
OKS-PP
SOURCE ONEOK Partners, L.P.
http://www.oneokpartners.com
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