Oneok

Analysts with U.S. Capital Advisors LLC (USCA) said natural gas liquids (NGL) prices are still “trying to find a floor,” thanks largely to a more than 60% collapse in propane and butane prices, as propane inventories increase and several midstream companies begin to emerge as takeover targets and acquirers.

Growth in the Williston Basin in North Dakota is the key to ONEOK Partners expected ramp-up of natural gas and natural gas liquids (NGL) production in the second half this year, CEO Terry Spencer told financial analysts Wednesday.

Oneok Partners LP said it has suspended plans to build a trio of natural gas processing plants in shale basins in three states as it revised its financial guidance for 2015 and slashed its capital expenditures (capex) budget for the year.

Oneok Partners LP has completed its acquisition of natural gas liquids (NGL) pipelines and associated assets in the Permian Basin from unnamed affiliates of Chevron Corp. for about $800 million.

Tulsa, OK-based Oneok Partners LP footprint will continue to grow in North Dakota by another 400 MMcf/d of gas processing capacity now under construction to supplement an earlier 300 MMcf/d of new capacity at three separate locations, Oneok executives told NGI’s Shale Daily at the Williston Basin Petroleum Conference, which began Tuesday in Bismarck, ND.

A section of a natural gas pipeline that serves customers of Oklahoma Natural Gas Co. exploded Monday morning near Milfay, OK, resulting in gas being released and a fire. It was unclear how many gas utility customers may be affected by the incident.

North Dakota’s swelling revenues from robust shale-driven production should get richer based on an announcement Tuesday by Tulsa-based Oneok Partners LP to invest $650-780 million by 2016 for new natural gas infrastructure, spending that could relieve a chronic flared gas problem.

Oklahoma regulators on Monday approved rebates of up to $2,500 for natural gas vehicles (NGV) and home fueling equipment providing compressed natural gas (CNG). Rebates will be offered by ONEOK’s Oklahoma Natural Gas Co. (ONG) utility, and all residents of the state are eligible for the program.

Texas Gas Service Co., a division of ONEOK Inc., has filed a Section 5 complaint against El Paso Natural Gas, saying that the pipeline’s collection of fuel costs on a postage stamp basis is forcing shippers on the east end of El Paso’s pipeline to subsidize shippers on the west end.