Question-and-Answer Session
[Operator Instructions]. The first question is from Louis Shamie from ZLP.
Louis Shamie - ZLP
Hi. Good morning, everybody. Congratulations on a great quarter. I had a quick question regarding the write-down of the gas in storage of $9.7 million. Is that a true economic hit to you guys or is that something that's expected to reverse at some point?
John W. Gibson - Chief Executive Officer of ONEOK, Inc. and Chairman and Chief Executive Officer of ONEOK Partners, L.P.
Curtis, why don't you respond to that one.
Curtis L. Dinan - Senior Vice President, Chief Financial Officer and Treasurer of ONEOK, Inc. and Executive Vice President, Chief Financial Officer and Treasurer of ONEOK Partners, L.P.
Louis, this is Curtis. It is, the $9.7 million does reflect the? it is an economic hit or an economic decrease in earnings.
Louis Shamie - ZLP
Okay, great. And then the other question I had was regarding gathering and fractionation, and capturing that spread between Conway and Mont Bellevue. Were you able to I guess, utilize more pipe capacity during this quarter and capture that spread on a higher amount of volumes or was it basically the same amount of volumes that you trade on that business in previous quarters?
John W. Gibson - Chief Executive Officer of ONEOK, Inc. and Chairman and Chief Executive Officer of ONEOK Partners, L.P.
Why don't? Terry, why don't you answer that?
Terry Spencer - Executive Vice President of ONEOK and Executive Vice President, Natural Gas Liquids of ONEOK Partners, L.P.
Louis, we did see overall? on our systems, we did see increased volume during the period. But as it relates specifically to this optimization activity, our volume has actually stayed fairly consistent and so, we did not, as it relates to optimization, increase the capacity we utilize on the barrels that we own, that come through that sterling pipeline.
Louis Shamie - ZLP
Okay, great. So it's purely just the increase in the spread that helped you guys there.
Terry Spencer - Executive Vice President of ONEOK and Executive Vice President, Natural Gas Liquids of ONEOK Partners, L.P.
That's correct.
Louis Shamie - ZLP
Okay, thanks a lot.
John W. Gibson - Chief Executive Officer of ONEOK, Inc. and Chairman and Chief Executive Officer of ONEOK Partners, L.P.
And that spread that we are describing is a geographic spread between two points.
Terry Spencer - Executive Vice President of ONEOK and Executive Vice President, Natural Gas Liquids of ONEOK Partners, L.P.
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