Updates
Later, 9:38 pm: with the news below in the original post, it will be interesting to see how this next one goes -- Oneok Partners LP is holding an open season for its previously announced 600-mile Bakken NGL Pipeline, which will transport unfractionated natural gas liquids from the Bakken shale in the Williston basin to an interconnection with its 50%-owned Overland Pass Pipeline in northern Colorado. Oneok expects the 60,0000-b/d pipeline—now under construction—to enter into service in first-quarter 2013.
Original Post
Link to press release here. ONEOK Partners, L.P. today announced that it did not receive sufficient long-term transportation commitments during its recently concluded open season for the Bakken Crude Express Pipeline. As a result, the partnership has elected not to proceed with plans to construct the pipeline.
“Despite the robust outlook for crude-oil supply growth in the Williston Basin in the Bakken Shale, we did not receive sufficient long-term commitments under the terms we needed to construct the Bakken Crude Express Pipeline,” said Terry K. Spencer, ONEOK Partners president.
“While we are disappointed with the results of the open season, we remain committed to serving Williston Basin producers for their natural gas, natural gas liquids and crude-oil infrastructure needs. We still believe the Bakken Crude Express has a competitive advantage over other competing projects due to its proximity to the route of our Bakken NGL Pipeline currently under construction and other ONEOK Partners natural gas liquids pipeline corridors,” Spencer added.This is quite a turn of events.
