Oneok sells gas gathering, processing assets

Oneok Inc., Tulsa, has agreed to sell natural gas gathering and processing assets in the Texas Panhandle to Eagle Rock Energy Inc., a private Houston company, for $528 million.

Oct. 18, 2005

By OGJ editors
HOUSTON, Oct. 18 -- Oneok Inc., Tulsa, has agreed to sell natural gas gathering and processing assets in the Texas Panhandle to Eagle Rock Energy Inc., a private Houston company, for $528 million.

The properties include six gas processing plants with combined capacity of 150 MMcfd and current average throughput of 70%, 3,700 miles of gas gathering lines, and NGL production of about 13,500 b/d.

The transaction is expected to close Dec. 1.