ONEOK 2Q13 Earnings Release
Press release:
ONEOK today announced second-quarter 2013 net income attributable to ONEOK
of $0.9 million, or zero cents per diluted share, which includes a
non-cash, after-tax charge of $71.0 million, or 34 cents per diluted
share, in the energy services segment. In the second quarter 2012, net
income attributable to ONEOK was $61.0 million, or 29 cents per diluted
share.
Excluding the impact of the non-cash charge in the energy services
segment, second-quarter 2013 results increased compared with the same
period last year.
The improved second-quarter 2013 results reflect significantly higher
natural gas volumes gathered and processed, and natural gas liquids
(NGL) gathered as a result of completed growth projects in the ONEOK
Partners segment, and new rates and the benefit of colder than normal
weather in the natural gas distribution segment.
Other items of interest:
- ONEOK Partners placing in service in the second quarter the following projects:
- The 600-mile Bakken NGL Pipeline that has a current capacity to
transport 60,000 barrels per day (bpd) of unfractionated NGLs in the
Williston Basin to ONEOK Partners' 50 percent-owned Overland Pass
Pipeline;
- The 100-million cubic feet per day (MMcf/d) Stateline II natural gas processing facility in western Williams County, N.D.;
- An ethane header pipeline that creates a new point of
interconnection between the partnership's Mont Belvieu, Texas, NGL
fractionation and storage assets, and several petrochemical customers;
and
- A significant portion of the Divide County, N.D., natural gas
gathering system; the remaining portion is expected to be completed in
the second half 2013.
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