TULSA, Okla., Sept 28, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- ONEOK Partners, L.P. (NYSE: OKS) announced today that its subsidiary, Viking Gas Transmission Company, is nearing completion of a $14.7 million expansion of the Fargo lateral segment of its natural gas pipeline.
Approximately 10 miles of the 18-mile pipeline will be expanded by replacing the existing eight-inch pipe with 12-inch pipe, which will increase the pipeline's throughput capacity to 91 million cubic feet per day (MMcf/d) from 53 MMcf/d. Northern States Power, a subsidiary of Xcel Energy, is the largest volume shipper on the lateral.
"The increased demand experienced during the last few heating seasons made this a necessary and important project for the region," said Terry K. Spencer, ONEOK Partners chief operating officer. "The expansion of the Fargo lateral is another example of ONEOK Partners' strategic commitment to providing asset solutions to meet the growing energy needs in the marketplace."
The expansion is expected to be complete by mid-October of this year. Once complete, the facility will transport increased volumes of natural gas to Northern States Power delivery points in Fargo, N.D., and Dilworth and Moorhead, Minn.
View map showing expansion.
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 45.1 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.
Some of the statements contained and incorporated in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements relate to financial adjustments in connection with the accelerated share repurchase program and other matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements in certain circumstances.
Analyst Contact: Andrew Ziola
918-588-7163
Media Contact: Brad Borror
918-588-7582
OKS-FD
SOURCE ONEOK Partners, L.P.
http://www.oneokpartners.com
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