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ONEOK Inc.'s Timely Investments Start to Pay Off Nov 00 Product Image

ONEOK Inc.'s Timely Investments Start to Pay Off Nov 00

  • ID: 1921701
  • November 2000
  • Standard & Poors

FEATURED COMPANIES

  • DCP Midstream LLC
  • Dynegy Inc.
  • Enogex LLC
  • Kinder Morgan Inc.
  • ONEOK Inc.
  • Westar Energy Inc.
  • MORE

Abstract
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.
- Enogex 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 READ MORE >

- Kinder Morgan Inc.
- Westar Energy Inc.
- ONEOK Inc.
- Enogex LLC
- Dynegy Inc.
- DCP Midstream LLC

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