ONEOK Partners Signs NGL Fractionation Capacity Letter of Intent With Targa Resources Partners

Name	Symbol	Market	Type
Natural Gas Etc	LSE:NGLS	London	Exchange Traded Fund

	Price Change	% Change	Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.00	0.00%	8.9825	8.7175	8.7675				0	11:55:56

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TULSA, Okla., Dec. 22 /PRNewswire-FirstCall/ -- ONEOK Partners, L.P. (NYSE:OKS) announced today that it has signed a letter of intent for a 10-year firm-space fractionation agreement with Targa Resources Partners LP (NASDAQ:NGLS) for additional fractionation capacity at Targa's Cedar Bayou fractionator, a natural gas liquids fractionation facility located at Mont Belvieu, Texas. Under terms of the proposed agreement, ONEOK Partners will contract for 60,000 barrels per day of fractionation capacity at the Targa Resources Partners' facility, which is currently being expanded to 275,000 barrels per day from 215,000 barrels per day. "This additional fractionation capacity will enable us to continue to provide value-added services to our NGL producers and customers from new supplies in the Mid-Continent, north Texas and Rocky Mountain regions," said Terry K. Spencer, chief operating officer of ONEOK Partners. "In addition to this capacity agreement with Targa Resources Partners, we will continue to evaluate other opportunities to expand existing or build new fractionation capacity in the Gulf Coast and Mid-Continent." The expansion is expected to be operational during the first quarter of 2011, subject to regulatory approvals. As part of the expansion, Targa Resources Partners and ONEOK Partners plan to construct interconnect facilities that link Targa Resources Partners' fractionation facility with ONEOK Partners' recently completed Arbuckle Pipeline, a 440-mile raw NGL pipeline extending from southern Oklahoma through the Barnett Shale of north Texas and on to ONEOK Partners' fractionation and storage facilities at Mont Belvieu. In addition to an 80 percent interest in its MB-1 fractionator in Mont Belvieu, ONEOK Partners also owns NGL fractionators in Medford, Okla., in Bushton and Hutchinson, Kan., and a 10 percent interest in a fractionator in Conway, Kan. ONEOK Partners' net capacity in these fractionators is approximately 550,000 barrels per day. ONEOK Partners, L.P. (NYSE:OKS) is one of the largest publicly traded master limited partnerships and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with key market centers. Its general partner is a wholly owned subsidiary of ONEOK, Inc. (NYSE:OKE), a diversified energy company, which owns 45.1 percent of the partnership. ONEOK is one of the largest natural gas distributors in the United States, and its energy services operation focuses primarily on marketing natural gas and related services throughout the U.S. For more information, visit the Web site at http://www.oneokpartners.com/. OKS-PP Analyst Contact: Andrew Ziola 918-588-7163 Media Contact: Megan Washbourne 918-588-7572 DATASOURCE: ONEOK Partners, L.P. CONTACT: Analyst, Andrew Ziola, +1-918-588-7163, or Media, Megan Washbourne, +1-918-588-7572 Web Site: http://www.oneokpartners.com/

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NGLS Natural Gas Etc