ONEOK – A Year In Review

2014 proved to be a great year for Oneok, one of the nation's premier energy companies involved in the natural gas and natural gas liquids businesses.

In February 2014, Oneok successfully completed the separation of the company's natural gas distribution business into a stand-alone, publicly traded company that is now called ONE Gas, Inc. The separation allowed each company to have a greater focus on its individual strategy, financial strength and growth potential. The "New Oneok" is now the pure-play general partner Oneok Partners.

In addition to the separation, Oneok completed several capital-growth projects in 2014. In April, Oneok announced the completion of the Sterling III Pipeline, the Canadian Valley natural gas processing plant in Oklahoma as well as the addition of an E/P splitter at our Mont Belvieu fractionation facility.

In October, Oneok announced the completion of three additional projects: the Garden Creek III natural gas processing facility in the Williston Basin of North Dakota, the first expansion to the Bakken natural gas liquids pipeline and the Niobrara NGL lateral. They also announced the acquisition of natural gas liquids (NGL) pipelines and related assets from affiliates of Chevron Corporation.

Oneok also announced several new projects during 2014. These include four natural gas processing facilities; the Demicks Lake Plant in McKenzie County, North Dakota, the Bear Creek plant in Dunn County, North Dakota, the Bronco plant in Wyoming and the Knox plant in Oklahoma.

Oneok Partners has announced total investments of approximately $8.4 billion to $9.1 billion between 2010 and 2016 for acquisitions and capital-growth projects related to natural gas gathering and processing, and natural gas liquids and continues to have a $4 billion to $5 billion backlog of unannounced growth projects that it continues to evaluate.

Since 2010, Oneok Partners has constructed, or is constructing, 11 new natural gas processing plants and related natural gas gathering infrastructure across its operating footprint – including eight in the Williston Basin, where the partnership's natural gas processing capacity in the region is expected to increase to approximately 1.2 billion cubic feet per day (Bcf/d) in the third quarter 2016 following the completion previously announced projects in the region by the end of 2016, compared with 2010.

With an industry goal to reduce natural gas flaring to 5 to 10 percent of total production in 2020 in North Dakota, Oneok will continue to commit resources to building critical infrastructure in the Williston Basin to meet this goal. The completion of several natural gas processing plants currently in various stages of construction, further demonstrate their commitment to this cause.

Oneok Partners is the largest independent operator of natural gas gathering and processing facilities in the Williston Basin, with a natural gas gathering system of more than 6,500 miles and more than 3 million net acres where production is dedicated to its systems.