ONEOK Partners Challenging Authority Of Pipleline and Hazardous Materials Safety Administration

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ONEOK Partners L.P. ( OKS ) tonight said it is seeking a declaratory judgment action in federal district court in Tulsa, Okla., challenging the jurisdictional limits of the Pipeline and Hazardous Materials Safety Administration.

Specifically, the action is asking the court to rule on the agency's control over the company's natural gas liquids fractionation plant as well as adjacent transport and storage equipment at its facility in Bushton, Kan. The action also seeks a temporary restraining order and preliminary injunction to delay a scheduled PHMSA inspection of this plant until a decision is made.

OKS shares are steady in late trade at $57.58 a share amid a 52-week range of $50.45 - $61.58.

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This article appears in: Investing , Commodities


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