Two in state named to council
Two Oklahomans were among eight members named to the Economic Advisory Council for the the Federal Reserve Bank of Kansas City. Ken Lackey, board chairman of NORDAM in Tulsa, and Tina Patel, co-owner of Promise Hotels in Tulsa, will each join the council for a three-year term. The council, which includes representatives of businesses from the 10th Federal Reserve District, meets twice a year with Federal Reserve Bank of Kansas City President Esther L. George to discuss the regional economy. The bank and its branches in Oklahoma City, Denver and Omaha serve a seven-state district that includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
ONEOK completes $1B in projects
TULSA — ONEOK Partners L.P. has completed three natural gas gathering and processing and natural gas liquids capital-growth projects of about $1 billion. The projects are part of the partnership's previously announced $6 billion to $6.4 billion capital-growth program through 2016 and include a 540-mile pipeline, a natural gas processing facility and an ethane/propane splitter. The Sterling III Pipeline has the capacity to transport 193,000 barrels per day of natural gas liquids and products from Medford to ONEOK Partners’ storage and fractionation facilities at Mont Belvieu, Texas. The partnership has a $2 billion to $3 billion-plus backlog of unannounced growth projects that it continues to develop.
Compressco to distribute cash
Compressco Partners L.P. has declared a cash distribution attributable to the quarter ended March 31, 2014 of 44.5 cents per outstanding unit, or $1.78 per outstanding unit on an annualized basis. That is a 75-cent increase of over the previous distribution of 43.75 cents. The distribution will be paid May 15 to all unitholders of record at the close of business on May 1.
From Staff Reports