Oil pipeline from ND to Okla. canceled
Tuesday, November 27, 2012
TULSA, Okla. (AP) — A proposed $1.8 billion oil pipeline from North Dakota to Oklahoma has been called off because the company behind the deal couldn't rally enough commitments to transport their oil to Cushing.
Tulsa-based Oneok Partners LP announced Tuesday that the Bakken Crude Express Pipeline won't be built.
Oneok says the outlook for crude oil supply is robust but it could not get enough producers to promise long-term use of the 1,300-mile pipeline.
The company says it still has up to $4.8 billion of announced natural gas and natural gas liquids projects under way and many of them are in the Bakken Shale.
Oneok says the pipeline would have moved 200,000 barrels of oil from the Williston Basin in the Bakken Shale in Montana and North Dakota.
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