General | Quarterly / Earnings Reports
ONEOK's Gas Gathering, NGL Segments See Strong Growth
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ONEOK Partners L.P. has reported second-quarter 2013 net income attributable to ONEOK Partners of $202.4 million, or 62 cents per unit, compared with $206.5 million, or 69 cents per unit, in the second quarter 2012.
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.
As expected, NGL exchange-services margins continued to grow, while NGL optimization margins continued to decline as a result of ONEOK Partners' strategy to convert NGL optimization capacity to fee-based exchange-services capacity, and narrower NGL price differentials.
As anticipated, ethane rejection affected ONEOK Partners' natural gas liquids segment's second-quarter operating results and…
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