TULSA, Okla. – Sept. 11, 2008 – ONEOK Partners, L.P. (NYSE: OKS) announced today that Overland Pass Pipeline Company, LLC, a joint venture with Williams (NYSE: WMB), is holding an open season for its pipeline.
The open season process provides shippers the opportunity to execute long-term transportation contracts with Overland Pass Pipeline Company in exchange for discounted rates. The open season will begin Sept. 25, 2008, and conclude Oct. 9, 2008.
The Overland Pass Pipeline Company includes a 760-mile natural gas liquids pipeline currently under construction that will originate in Opal, Wyo., and terminate near Conway, Kan., and two future lateral pipelines originating in the Piceance and Denver-Julesburg Basins. Overland Pass Pipeline will have an initial capacity to transport approximately 110,000 barrels per day.
ONEOK Partners will initially own 99 percent of the Overland Pass Pipeline joint venture, with Williams owning 1 percent. Williams has the option to increase its ownership to 50 percent within two years of Overland Pass Pipeline becoming operational, at which time it has the option to become operator. ONEOK Partners is managing the construction of the projects and will be the operator.
For information regarding Overland Pass Pipeline's open season, please contact Alan McElhaney at 918-588-7692 /
[email protected].
ONEOK Partners, L.P. (NYSE: OKS) is one of the largest publicly traded 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 much of the natural gas and NGL supply in the Mid-Continent with key market centers. Our general partner is a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE), a diversified energy company, which owns 47.7 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. For more information, visit the Web sites at www.oneokpartners.com or www.oneok.com. ###