OGE Energy and Energy Transfer Partners to Establish Joint Venture

OGE Energy and Energy Transfer Partners have entered into an agreement to form a joint venture combining OGE’s Enogex midstream business with Energy Transfer Partners’s interstate operations as well as its midstream operations in the Rocky Mountains area of the US.

The joint venture, ETP Enogex Partners, will be owned and managed by Energy Transfer Partners (ETP) and OGE on a 50-50 basis.

The parties are contractually obligated to take various actions to facilitate an initial public offering of ETP Enogex Partners following the closing of the transaction, including the creation of a master limited partnership structure.

Pete Delaney, chairman, president and CEO of OGE Energy, said: “The combination of Enogex’s midstream and ETP’s interstate assets creates a very diverse and competitive business. Our partnership will offer producers a variety of markets for their gas.”