ONEOK Partners Increases Quarterly Distribution

Thu Jan 17, 2013 4:06pm EST

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TULSA, Okla.,  Jan. 17, 2013  /PRNewswire/ -- The board of directors of the
general partner of ONEOK Partners, L.P. (NYSE: OKS) today increased the
partnership's quarterly cash distribution  2.5 cents  to  71 cents  per unit
from  68.5 cents  per unit, effective for the fourth quarter 2012, resulting in
an annualized cash distribution of  $2.84  per unit.  The distribution is
payable  Feb. 14, 2013, to unitholders of record as of  Jan. 31, 2013.

"This distribution increase is consistent with our strategy of delivering value
to our unitholders and is a result of completed growth projects from our ongoing
capital-investment program that continue to generate higher earnings and
distributable cash flow," said  John W. Gibson, chairman and chief executive
officer of ONEOK Partners.  

In  September 2012, ONEOK Partners indicated that it expects to increase its
distribution by  2.5 cents  per unit per quarter for the remainder of 2012 and 
2 cents  per unit per quarter in 2013, and achieve an average annual
distribution increase of 10 to 15 percent between 2012 and 2015 while
maintaining a minimum annual coverage ratio of 1.05 times, subject to approval
by the board of directors of the general partner.

ONEOK Partners has increased its distribution by approximately 78 percent since 
April 2006, when a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE) became the
sole general partner.

ONEOK Partners, L.P. (pronounced ONE-OAK) (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 43.4 percent of the overall partnership
interest. 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 website at

For the latest news about ONEOK Partners, follow us on Twitter  @ONEOKPartners.

Some of the statements contained and incorporated in this news release are
forward-looking statements within the meaning of Section 27A of the Securities
Act, as amended, and Section 21E of the Exchange Act, as amended.  The
forward-looking statements relate to our anticipated financial performance
(including projected levels of distributions), liquidity, management's plans and
objectives for our growth projects and other future operations (including plans
to construct additional natural gas and natural gas liquids pipelines and
processing facilities), our business prospects, the outcome of regulatory and
legal proceedings, market conditions and other matters.  We make these
forward-looking statements in reliance on the safe harbor protections provided
under the Private Securities Litigation Reform Act of 1995.

Forward-looking statements include the items identified in the preceding
paragraph, the information concerning possible or assumed future results of our
operations and other statements contained or incorporated in this news release
identified by words such as "anticipate," "estimate," "expect," "project,"
"intend," "plan," "believe," "should," "goal," "forecast," "guidance," "could,"
"may," "continue," "might," "potential," "scheduled" and other words and terms
of similar meaning.  

You should not place undue reliance on forward-looking statements. Known and
unknown risks, uncertainties and other factors may cause our actual results,
performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by forward-looking statements.
Those factors may affect our operations, markets, products, services and prices.
These and other risks are described in greater detail in Item 1A, Risk Factors,
in our Annual Report on Form 10-K. All forward-looking statements attributable
to us or persons acting on our behalf are expressly qualified in their entirety
by these factors. Other than as required under securities laws, we undertake no
obligation to update publicly any forward-looking statement whether as a result
of new information, subsequent events or change in circumstances, expectations
or otherwise.

This news release serves as qualified notice to nominees as provided for under
Treasury Regulation Sections 1.1446-4(b)(4) and (d). Please note that ONEOK
Partners, L.P.'s quarterly cash distributions are treated as partnership
distributions for federal income tax purposes and that 100 percent of these
distributions to foreign investors are attributable to income that is
effectively connected with a  United States  trade or business. Accordingly, all
of ONEOK Partners, L.P.'s distributions to foreign investors are subject to
federal income tax withholding at the highest effective tax rate for individuals
or corporations, as applicable. Nominees, and not ONEOK Partners, L.P., are
treated as withholding agents responsible for withholding on the distributions
received by them on behalf of foreign investors.

 Analyst Contact:  T.D. Eureste  
 Media Contact:    Brad Borror   

SOURCE  ONEOK Partners, L.P.

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