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Oklahoma Business Briefs, May 12

Oklahoma Business Briefs, May 12, 2014
Oklahoman Published: May 13, 2014


Access will expand plant

Access Midstream Partners LP on Monday announced plans to expand its Utica East Ohio midstream service complex. The complex, which is a joint venture with M3 Midstream LLC and EV Energy Partner LP, will be able to process as much as 1.1 billion cubic feet of natural gas a day. “Our investment in this expansion at UEO underscores our belief in the long-term viability of the Utica Shale,” Access CEO Mike Stice said. Access’ growth will meet new commitments from Chesapeake Energy Corp., Total Gas and Power North America, Enervest Ltd. and American Energy-Utica LLC. Those commitments are expected to increase the complex’s throughput by 70 percent.

Williams gets OK for pipeline

The Federal Energy Regulatory Commission has approved Williams Partners’ application to expand its Transco pipeline to deliver more natural gas to New York City in time for next winter’s heating season, the partnership announced Monday. “Our execution on the Rockaway Lateral and Northeast Connector expansions underscore our broader corporate strategy to connect the best natural gas supplies with the best markets,” said Rory Miller, senior vice president of Williams Partners’ Atlantic-Gulf operating area. Williams Partners subsidiary Transcontinental Gas Pipe Line Co. LLC expects to begin construction on the projects this summer.

Continental to offer notes

Continental Resources Inc. on Monday said it plans to offer $1.7 billion worth of senior notes due in 2024 and 2044 in a private placement to eligible buyers, subject to market conditions. The offering is expected to close next week. Continental intends to use net proceeds from the offering to repay debt, finance the redemption of senior notes due in 2019 and for general corporate purposes.

ONEOK will sell 11M common units

ONEOK Partners LP on Monday announced a public offering of 11 million common units representing limited partner interests. Underwriters are expected to be able to purchase up to 1.65 million additional units. The units will be offered pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission. ONEOK Partners expects to use net proceeds from the offering to repay debt and for general partnership purposes.

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