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Forward Looking Statement
Statements contained in this presentation that include company expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. It is important to note that the actual results of company earnings could differ materially from those projected in any forward-looking statements. For additional information, refer to ONEOK’s and ONEOK Partners’ Securities and Exchange Commission filings.
4444
A Structural ChangeJanuary 2006
ONEOKDistribution
Energy Services
Gathering & Processing
Pipelines & Storage
Natural Gas Liquids
Northern Border Partners• 82.5% of GP • 500,000 units
April 2006
Distribution Energy Services
ONEOK Partners• 100% of GP• 37 million units
Northern Border Partners70% of Northern Border
PipelineGathering & Processing
Interstate Pipelines
50% of Northern Border Pipeline
Gathering & Processing
Pipelines & Storage
ONEOK ONEOK Partners
Interstate Pipelines
Natural Gas Liquids
6666
OKS Gathering & Processing Key Points
• Asset diversity with balance among basins, producers and contracts
• Growth opportunities in Mid-Continent and Rocky Mountains
– Well connects (725 in 2006)– Internal projects– Strategic acquisitions
• Basin diversity effective in offsetting natural production declines
• Commodity and spread risk mitigated significantly
7
Western Oklahoma “WOK”
““Super-system” conceptSuper-system” concept• Integrated gathering Integrated gathering systemsystem
•Multiple processing Multiple processing plantsplants
• Capacity available Capacity available where and when neededwhere and when needed
• Efficient operationsEfficient operations
8888
ONEOK Partners Internal Growth -- Grasslands Expansion
• $30 million expansion• Increase processing capacity to 100 MMcfd• Increase fractionation capacity to 10 Mbpd• Keep pace with growth• Completed in phases
– Summer of 2007– First quarter 2008
• Part of $90 million in gathering and processing growth projects
9999
ONEOK Partners Internal Growth -- Arbuckle Pipeline
• $260 million• Marks another major expansion into one of the
most active drilling areas in the U.S.• 160,000 bpd of raw NGL capacity• 440-mile, 12-16-inch line• Finalizing dedicated supply commitments from
a number of NGL producers– NGL basins in Oklahoma– Barnett Shale in Texas
• Capability to deliver to Gulf Coast fractionators• Completion in early 2009