Oneok

#654

Rank

$28.52B

MarketCap US

US United States

Country

Summary

ONEOK is a midstream service provider and own one of the nation’s premier natural gas liquids systems.ONEOK is a publicly-traded limited partnership engaged in natural gas liquids, natural gas pipelines, and natural gas gathering and processing. It is a Fortune 500 company and is included in Standard & Poor's (S&P) 500 Stock Index. Originally founded in 1906 as an intrastate natural gas pipeline business in Oklahoma, today ONEOK isone of the nation's premier energy companies involved in the natural gas and natural gas liquids businesses. Its business segments provide safe, reliable energy and services to their diverse customers. By following a strategy that blends the performance and profitability of all of the segments, ONEOK is able to deliver sustainable earnings growth for shareholders. ONEOK’s success is driven by employees who strive to better not only their company but also the communities in which they live.


History

1906: Originally founded in 1906 as an intrastate natural gas pipeline business in Oklahoma, today ONEOK is one of the nation's premier energy companies involved in the natural gas and natural gas liquids businesses.

1921: By the time Braden retired in 1921, ONG owned over 1,300 miles (2,100 km) of lines and served over a half million customers in 48 of the state's 77 counties.

1926: On July 31, 1926, the company was sold to New York investment bankers White, Weld, and Company.

1927: Phillips used ONG until it could complete its own pipeline to the Midwest and then, on October 15, 1927, sold it to the American Natural Gas Corporation, a holding company subsidiary of utility company financiers G. L. Ohrstrom and Company, Inc.

1929: On October 29, 1929, the stock market crashed and the company and Ohrstrom were plunged into turmoil along with the rest of American industry.

1930: In June, 1930, Oklahoma Natural Gas Corporation president Thomas R. Weymouth resigned and was replaced by E. C. Deal, who traded the company's Texas properties for the Oklahoma Natural Gas Corporation in eastern Oklahoma.

1931: In October 1931, Deal resigned as president and was elected chair of the board of directors.

1936: A return to normalcy began on June 1, 1936, when Joseph "Jos" Bowes gained the ONG presidency. After the company completed Bradshaw's $30 million refinancing program in 1936, it shed its holding company and contracted Stone and Webster Service Corporation for management advisory services previously provided by the holding company.

1950: Following the war, ONG acquired distribution operations in the Oklahoma communities of Sand Springs, Crescent, Dover, Guthrie, Hennessey, and Kingfisher, bringing its 1950 customer total to 270,000.

1954: Bowes reported to shareholders that 1954 had been the company's best financial year.

1959: In 1960, it acquired the Northern Oklahoma Gas Company, the Standard Gas Company, and the State Fuel Supply Company, gaining distribution operations in Ponca City, Newkirk, Perry, Madill, Tishomingo, Anadarko, Wewoka, and Lindsey. It expanded its Garvin County gasoline plant, and in 1959 bought an interest in the Laverne gas processing plant in northwestern Oklahoma.

1964: In 1964, H. A. "Tex" Eddins replaced Bowes as chair of the board.

1966: Tragically, Eddins died suddenly on April 26, 1966, while attending an employee service awards meeting. In 1966 he formed Oklahoma Natural Gas Transmission Company, which built and operated a 93-mile transmission pipe from Red Oak in eastern Oklahoma to Sapulpa, southwest of Tulsa.

1970: In 1970, with gas supply as a primary concern, Ingram reorganized ONG's operating department, established a gas supply department, and formed Oklahoma Natural Development Corporation.

1971: In 1971, ONG served 500,000 customers and generated more than $100 million in revenues.

1973: To insure access to new supplies, Ingram in 1973 created ONG Western Inc. to build a 200-mile, $20 million pipeline into the gas-rich Anadarko basin of western Oklahoma.

1974: In 1974, it began making large deliveries to the first of five large new fertilizer plants.

1979: Within ONEOK's non-utility division, the ONEOK Energy Companies, ONEOK Exploration Company explored for oil and natural gas, while Smart Drilling Company, acquired in 1979, was a contract-drilling operation.

1980: In December 1980, the Oklahoma Natural Gas board voted to reorganize as a holding company, Oneok Inc.

1982: To make matters worse, even though executives did what they could to keep industrial deliveries high by cutting prices to ONG's five fertilizer plant customers to keep them in business, deliveries continued to fall from 1982's 281 billion cubic feet (bcf) to 242 bcf.

1990: In 1990, Standard and Poors and Duff and Phelps upgraded ONEOK's debt to A- from BBB+.

1996: In 1996, Oneok acquired the natural gas operations of Kansas utility Western Resources (now Westar Energy) and reorganized them as Kansas Gas Service.

2014: In February 2014, Oneok spun off its natural gas distribution companies–Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Services–into a separate publicly traded company, ONE Gas.


Mission

Provide our customers with high-quality service through vertical integration across the midstream value chain focused on the transportation, fractionation, processing, storage, marketing and delivery of natural gas liquids (NGL), natural gas and other hydrocarbon liquid products.


Key Team

Terry K. Spencer (President and Chief Executive Officer)

Brad Borror (Media Contact)

Brian L. Derksen (Retired Global Deputy Chief Executive Officer)

Ryan Haynes (Founder)

Eduardo A. Rodriguez (President)

Brandon Houser (Chief Inspector)

Gary David Parker (President)

Brian L. Derksen (Retired Global Deputy Chief Executive Officer)

Gerald Bernard Smith (Board Member)

Brien H. Brown (Chief Information Officer & Vice President)

James Day (Board Member)

Charles M. Kelley (Senior Vice President)

James W. Mogg (Retired Chairman)

Christopher Teague (Chief Inspector)

John William Gibson (Chairman of The Board and Retired Chief Executive Officer)

C. B. Ames (Founder)

Julie H. Edwards (Former Chief Financial Officer)

Robert DiFalco (CTO and Cofounder)

Mark William Helderman (Board Member)

Ryan Haynes (Founder)


Recognition and Awards
Fortune 500

References
Oneok
Leadership team

C. B. Ames (Founder)

Robert DiFalco (CTO and Cofounder)

Products/ Services
Natural Gas
Number of Employees
1,000 - 20,000
Headquarters
Tulsa, Oklahoma, United States
Established
1906
Company Registration
SEC CIK number: 0001039684
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
OKE
Social Media
Fri Mar 01 2024
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