Oneok Reports Strong Growth in Natural Gas Volumes Processed and NGL Volumes Fractionated
Oneok reported earnings per share of $0.41 for the first quarter, up 14% from the first quarter last year and in line with consensus estimates. Coverage of the dividend was 1.15 times for the quarter versus 0.88 times in the year-ago quarter. Solid results for the quarter were driven by higher natural gas liquids volumes fractionated, higher natural gas volumes gathered and processed, and increased fee-based earnings in the gathering and processing segment from successful contract restructuring ...Oneok is a midstream service provider. The company's segments include: Natural Gas Gathering and Processing, which provides midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma; natural gas liquids (NGLs), which owns and operates facilities that gather, fractionate, treat and distribute NGLs and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region; and Natural Gas Pipelines, which provides transportation and storage services to end users through its wholly owned assets and its ownership interests in Northern Border Pipeline Company and Roadrunner Gas Transmission, LLC.
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