October 2010 Vol. 237 No. 10

In The News

Williams Partner Acquires 49% Ownership In Overland Pass Pipeline Co.

ONEOK Partners L.P. has completed a transaction to sell 49% of its ownership of Overland Pass Pipeline Co. LLC to Williams Partners L.P. for $424 million. ONEOK Partners and Williams Partners each now owns 50% Of Overland Pass Pipeline Company LLC. Previously, ONEOK Partners owned 99% of the joint venture and Williams Partners owned the remaining 1%.

As long as Williams Partners owns at least 50% of Overland Pass Pipeline Company, Williams Partners will have the option to become the operator by providing ONEOK Partners at least 30 days notice. The joint venture company to build the Overland Pass Pipeline was established in May 2006. The 760-mile natural gas liquids (NGL) pipeline extends from Opal, WY to the Mid-Continent natural gas liquids market center in Conway, KS, one of the nation’s primary NGL distribution and storage hubs. The pipeline can transport 140,000 bpd with the ability to expand capacity to 255,000 bpd with additional pump facilities.