ONEOK Partners LP (NYSE: OKS) has sold approximately 7.2 million common units totaling $277 million through its at-the-market (ATM) equity program in the first half of 2015.
The common units sold throughout the year and the contributions from ONEOK Inc. to maintain its 2% general partner interest generated total net proceeds of $279.7 million, which ONEOK Partners used for general partnership purposes and to repay amounts outstanding under its commercial paper program.
ONEOK Partners sold 1.7 million units under the ATM program during the first quarter of 2015. As of June 30, ONEOK Partners had $237.6 million of registered common units available to issue through its $650 million ATM program.
Also, as of June 30, the aggregate ownership interest in the partnership held by ONEOK Inc. and a subsidiary, which is the sole general partner of ONEOK Partners, was 36.8%, compared with 37.6% as of March 31.