ONEOK Inc.'s Timely Investments Start to Pay Off Nov 00
- ID: 1921701
- November 2000
- Standard & Poors
This past week, ONEOK Inc. announced that earnings for third-quarter 2000 were up 460% from the same period a year ago. ONEOK's mid-stream investments are beginning to bear fruit. Until recently, Oklahoma Natural Gas Inc., which distributes gas to most of Oklahoma, and Kansas Gas Service Inc., the gas distribution business ONEOK bought from Western Resources Inc. a few years back, accounted for most of ONEOK's income. Furthermore, third-quarter earnings are typically flat or negative because retail demand for gas is low in these "shoulder" months. However, over the past several years, ONEOK's strategy of becoming a dominant player in the Mid-Continent energy market has gained momentum. Early gear-shifting included the sale of some unprofitable oil and gas exploration and...
Companies mentioned in this report are:
- Kinder Morgan Inc.
- Westar Energy Inc.
- ONEOK Inc.
- Enable Oklahoma Intrastate Transmission, LLC
- Dynegy Inc.
- DCP Midstream LLC
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues. SHOW LESS READ MORE >