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.