ONEOK Selected By FirstEnergy to Provide Natural Gas Supply and Management Services
May 01 2006 - 4:05PM
PR Newswire (US)
TULSA, Okla., May 1 /PRNewswire-FirstCall/ -- ONEOK, Inc.
(NYSE:OKE) announced today that it has been selected to provide
subsidiaries of FirstEnergy Corp. (NYSE:FE) with natural gas supply
and natural gas management services for three of its natural
gas-fired generation plants. Under the three-year natural gas
supply and management services contract, ONEOK Energy Services will
serve as the exclusive natural gas commodity and services provider
to FirstEnergy Generation Corp.'s Richland and West Lorain, Ohio,
and Sumpter, Mich., natural gas-fired generating plants. ONEOK will
become FirstEnergy's agent responsible for managing its
transportation and storage capacity. In addition, ONEOK Energy
Services will be responsible for optimizing the delivered cost of
the gas to FirstEnergy. "We are confident that we can meet
FirstEnergy's need for a reliable natural gas supplier with our
experience and knowledge of the natural gas markets and
transportation systems," said Billy Maxwell, president of ONEOK
Energy Services. ONEOK will also be able to utilize FirstEnergy's
unused transportation and storage capacity to handle third-party
needs. "This arrangement provides us with the opportunity to
develop and expand our gas supply and management capabilities into
a relatively new geographic area, serving potential customers in
eastern Ohio, Pennsylvania and New Jersey, and is further evidence
of our focus on meeting the physical natural gas storage and
transportation needs of our customers," Maxwell added. FirstEnergy
Corp. is a diversified energy company headquartered in Akron, Ohio.
Its subsidiaries and affiliates are involved in the generation,
transmission and distribution of electricity, as well as energy
management and other energy-related services. Its seven electric
utility operating companies comprise the nation's fifth largest
investor-owned electric system based on 4.5 million customers
served within a 36,100-square-mile area of Ohio, Pennsylvania and
New Jersey. ONEOK, Inc. is a diversified energy company. We are the
general partner and own 45.7 percent of Northern Border Partners,
L.P. (NYSE:NBP), one of the largest publicly-traded limited
partnerships, which 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 much of the natural gas and NGL supply in the
mid-continent with key market centers. ONEOK is among the largest
natural gas distributors in the United States, serving more than 2
million customers in Oklahoma, Kansas and Texas. Our energy
services operation focuses primarily on marketing natural gas and
related services throughout the U.S. ONEOK is a Fortune 500
company. For information about ONEOK, Inc. visit the Web site:
http://www.oneok.com/ . Some of the statements contained and
incorporated in this press release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The forward-looking statements relate to: anticipated
financial performance; management's plans and objectives for future
operations; business prospects; outcome of regulatory and legal
proceedings; market conditions and other matters. The Private
Securities Litigation Reform Act of 1995 provides a safe harbor for
forward-looking statements in certain circumstances. Analyst
Contact: Dan Harrison 918-588-7950 Media Contact: Megan Washbourne
918-588-7572 DATASOURCE: ONEOK, Inc. CONTACT: analysts, Dan
Harrison, +1-918-588-7950, or media, Megan Washbourne,
+1-918-588-7572, both of ONEOK, Inc. Web site:
http://www.oneok.com/
Copyright
Northern Border (NYSE:NBP)
Historical Stock Chart
From Aug 2024 to Sep 2024
Northern Border (NYSE:NBP)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about National Beef (New York Stock Exchange): 0 recent articles
More Northern Brdr PT Ltd News Articles