|By PR Newswire||
|April 21, 2014 04:05 PM EDT||
TULSA, Okla., April 21, 2014 /PRNewswire/ -- ONEOK Partners, L.P. (NYSE: OKS) today announced the completion of three natural gas gathering and processing and natural gas liquids capital-growth projects of approximately $1 billion. These completed projects are part of the partnership's previously announced $6.0 billion to $6.4 billion capital-growth program through 2016 and include:
- The Sterling III Pipeline, a 540-plus-mile, 16-inch diameter natural gas liquids (NGL) pipeline that transports either unfractionated NGLs or NGL purity products from the Mid-Continent region to the Texas Gulf Coast;
- The 200-million cubic feet per day (MMcf/d) Canadian Valley natural gas processing facility and related infrastructure in the Cana-Woodford Shale in Oklahoma; and
- An ethane/propane (E/P) splitter at its Mont Belvieu, Texas, NGL storage facility.
"These investments continue to demonstrate our ongoing commitment to build the infrastructure necessary to better serve our producers and customers," said Terry K. Spencer, president and chief executive officer of ONEOK Partners.
"Each of these projects integrates with our existing assets in the midstream value chain. Their completion is a significant achievement that would not have been possible without the tireless efforts of our employees, contractors and suppliers," Spencer added.
Sterling III Pipeline completed:
The Sterling III Pipeline has the capacity to transport 193,000 barrels per day (bpd) of either unfractionated NGLs or NGL purity products from the partnership's NGL infrastructure at Medford, Okla., to its storage and fractionation facilities at Mont Belvieu, Texas.
The partnership's existing Sterling I and II pipelines are being reconfigured to transport either unfractionated NGLs or NGL purity products, and are expected to be completed during the second quarter 2014. The cost for the Sterling III Pipeline and these reconfigurations is approximately $760 million to $790 million.
"The Sterling III Pipeline is the partnership's fourth NGL pipeline connecting the Mid-Continent and Gulf Coast NGL market centers," Spencer said. "Its completion, combined with the reconfigurations of our existing Sterling I and II NGL pipelines, gives us additional operational flexibility and enables us to increase the flow of NGL volumes between these two important NGL market centers."
The Sterling III Pipeline traverses the NGL-rich Woodford Shale and provides transportation capacity for NGL production from the growing Cana-Woodford Shale and Granite Wash, where new natural gas processing plants are being built as a result of increased drilling activity in these areas.
Canadian Valley natural gas processing facility completed:
ONEOK Partners also completed construction of its new, 200-MMcf/d natural gas processing facility – the Canadian Valley plant – in the Cana-Woodford Shale area in Oklahoma. The cost for the Canadian Valley plant and related infrastructure is approximately $340 million to $360 million.
"The Canadian Valley plant is located in the heart of the NGL-rich Cana-Woodford Shale and is connected to the partnership's existing natural gas and natural gas liquids pipelines," said Spencer.
"This new plant provides much needed natural gas processing capacity to handle growing volumes in this area. In addition, natural gas liquids volumes produced from this new plant are expected to add incremental NGL volumes to our extensive Oklahoma natural gas liquids system."
The Canadian Valley plant will increase the partnership's natural gas processing capacity in Oklahoma to approximately 700 MMcf/d and is now the partnership's largest natural gas processing facility in Oklahoma.
New E/P splitter at Mont Belvieu completed:
ONEOK Partners also completed a $46 million, 40,000-bpd E/P splitter at its Mont Belvieu NGL storage facility to split E/P mix into purity ethane and purity propane to meet the growing needs of petrochemical customers. The facility is capable of producing 32,000 bpd of purity ethane and 8,000 bpd of propane.
In addition to its previously announced $6.0 billion to $6.4 billion capital-growth program through 2016, the partnership has a $2 billion to $3 billion-plus backlog of unannounced growth projects that it continues to develop. Additional projects included in this backlog will be announced when sufficient supply commitments are completed.
View a map of the completed projects.
ONEOK Partners, L.P. (pronounced ONE-OAK) (NYSE: OKS) is one of the largest publicly traded master limited partnerships in the United States 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 pure-play, publicly traded general partner, which owns 41.2 percent of the overall partnership interest as of Dec. 31, 2013.
For more information, visit the website at www.oneokpartners.com.
For the latest news about ONEOK Partners, follow us on Twitter @ONEOKPartners.
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 of 1933, as amended, and Section 21E of the Exchange Act, as amended. The forward-looking statements relate to the Sterling III pipeline, the completion of Canadian Valley natural gas processing facility, and the completion of a E/P splitter at Mont Belvieu, the other referenced infrastructure growth projects related to natural gas gathering and processing and natural gas liquids and the schedule and costs to complete the proposed projects and related infrastructure. These forward-looking statements are made 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," "potential," "scheduled," and other words and terms of similar meaning.
You should not place undue reliance on forward-looking statements. 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. These and other risks are described in greater detail in Item 1A, Risk Factors, in our Annual Report on Form 10-K. 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.
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jul. 29, 2015 11:45 PM EDT Reads: 1,364
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 11:45 PM EDT Reads: 1,022
"We have been in business for 21 years and have been building many enterprise solutions, all IT plumbing - server, storage, interconnects," stated Alex Gorbachev, President of Intelligent Systems Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 10:45 PM EDT Reads: 1,024
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Jul. 29, 2015 05:30 PM EDT
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 05:15 PM EDT Reads: 362
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at @DevOpsSummit, Haseeb Budhani, CEO and Co-founder of Soha, shared five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the friction an...
Jul. 29, 2015 04:30 PM EDT Reads: 499
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 04:15 PM EDT Reads: 326
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Jul. 29, 2015 04:00 PM EDT Reads: 1,069
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Jul. 29, 2015 03:15 PM EDT Reads: 240
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to tran...
Jul. 29, 2015 03:15 PM EDT Reads: 396
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Jul. 29, 2015 03:00 PM EDT Reads: 466
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
Jul. 29, 2015 03:00 PM EDT Reads: 1,257
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Jul. 29, 2015 02:30 PM EDT Reads: 324
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Jul. 29, 2015 02:30 PM EDT
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
Jul. 29, 2015 02:00 PM EDT Reads: 1,169