Oneok Inc.
ONEOK Reports Higher Third Quarter 2024 Earnings and Increases 2024 Guidance
Summary
ONEOK, Inc. announced higher third-quarter 2024 earnings with net income of $693 million and adjusted EBITDA of $1.55 billion, driven by increased volumes in the Rocky Mountain region and higher transportation services. The company also increased its 2024 financial guidance for both consolidated and stand-alone bases, reflecting confidence in ongoing synergy expectations and fee-based earnings strength.
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About Oneok Inc.
Oneok Inc., a prominent energy company, plays a crucial role in the United States' natural gas and natural gas liquids (NGL) industries. As an integral midstream service provider, Oneok focuses on gathering, processing, transportation, and storage of natural gas, as well as the fractionation and distribution of NGL products. Its operations span extensive and strategically positioned infrastructure, particularly in prolific production areas like the Rocky Mountains, Mid-Continent, and Permian Basin regions. These operations allow Oneok to efficiently manage the supply chain of hydrocarbons from the extraction points to end-users, ensuring a reliable energy supply. The company's comprehensive service offerings cater to a diverse clientele, including utilities, refiners, and chemical companies. Established in 1906, Oneok has significantly contributed to the energy landscape by enhancing the value chain of natural gas and fostering the transition towards cleaner energy sources. The company's dedication to safety, operational excellence, and sustainability underscores its commitment to the evolving energy market.
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