$OKE (ONEOK Inc.)

$OKE {{ '2016-08-03T15:41:34+0000' | timeago}} • Webcast

$OKE said in the Natural Gas Gathering and Processing segment, the average fee rate increased to $0.76 in 2Q16 driven by benefits from increased volumes on previously restructured contracts and continued contract restructuring efforts. This average fee rate is a 95% increase from 2Q15.

$OKE {{ '2017-07-19T13:37:57+0000' | timeago}} • Announcement

$OKE announced the retirement of Stephen Lake, SVP, general counsel and assistant secretary, effective July 21, 2017. Stephen Allen, $OKE's VP and associate general counsel, has assumed Lake's responsibilities.

$OKE {{ '2017-07-11T11:05:37+0000' | timeago}} • Announcement

$OKE priced offering to sell $1.2Bil of senior notes, consisting of $500MM of 10-year senior notes at a coupon of 4% and $700MM of 30-year senior notes at a coupon of 4.95%. The net proceeds are expected to be $1.18Bil. $OKE expects to use proceeds for general corporate purposes, which may include repayment of existing debt and capex.

$OKE {{ '2017-07-03T10:56:21+0000' | timeago}} • Announcement

$OKE closed the acquisition of all outstanding common units of $OKS and the merger of the same with a subsidiary of $OKE. Post the acquisition, $OKS common units will no longer be publicly traded on the NYSE.

$OKS {{ '2017-06-30T11:06:21+0000' | timeago}} • Announcement

Tortoise Index Solutions said $OKS will be removed from Tortoise MLP Index, Tortoise North American Pipeline Index and Tortoise Real Yield Index as it will cease trading on the NYSE following the completion of the proposed merger with $OKE on June 30, 2017.

$OKE {{ '2017-06-23T11:00:31+0000' | timeago}} • Announcement

$OKE and $OKS announced that proxy advisory firms Institutional Shareholder Services & Glass Lewis & Co., have recommended votes in favor of the proposed merger transaction between $OKE and $OKS. Under the proposed merger $OKE will acquire all of the outstanding common units of $OKS it does not already own. The merger is expected to close in 3Q17.

$OKE {{ '2017-05-26T11:21:21+0000' | timeago}} • Announcement

$OKE and $OKS announced organizational changes. Walter Hulse III, currently EVP, strategic planning and corporate affairs, becomes CFO and EVP, strategic planning and corporate affairs. Kevin Burdick, now EVP and chief commercial officer, becomes EVP and COO. Derek Reiners, currently SVP, CFO and treasurer, becomes SVP, finance, and treasurer.

$OKE {{ '2017-05-03T19:29:43+0000' | timeago}} • Webcast

$OKE said that it is pleased with the Bakken oil field activity levels over the several months. In 4Q16, the company announced that it saw rig increases. The company added that volume in April was good.

$OKE {{ '2017-05-03T12:56:24+0000' | timeago}} • Announcement

Natural gas company $OKE reported 5% rise in 1Q17 earnings driven by higher average fees rates in the natural gas gathering and processing segment. Net income rose to $87.4MM, or $0.41 per share, compared to $83.4MM, or $0.40 per share during 1Q16. Excluding items, $OKE reported 4% increase in net income.

$OKE {{ '2017-04-21T12:43:47+0000' | timeago}} • Announcement

As a result of $OKE buying all outstanding common units of $OKS, $OKE expects to increase its first quarter dividend following the close of the transaction to 74.5 cents per share. This is up 21% compared with $OKE's first-quarter 2017 dividend.

$OKE {{ '2017-02-28T16:34:37+0000' | timeago}} • Webcast

$OKE anticipates closing of the acquisition of the remaining 60% of $OKS in 2Q17. The company expects the transaction to be immediately accretive and then double-digit accretive to $OKE's distributable cash flow from 2018 through 2021, providing for a 21% initial dividend increase followed by expected annual dividend growth of 9-11% through 2021.

$OKE {{ '2017-02-27T21:45:48+0000' | timeago}} • Announcement

$OKE's operating costs for 4Q16 increased to $204.1MM from $184.8MM last year. This was due to higher labor costs from the growth of $OKS' operations, higher employee-related costs from incentive and medical benefit plans and higher costs from non-cash mark-to-market of share-based deferred compensation plan.

$OKE {{ '2017-02-27T21:43:22+0000' | timeago}} • Announcement

Looking ahead to the remainder of 2017, $OKE is well-positioned to capture future increases in NGL transportation and fractionation volumes due to increased demand from the petrochemical industry and NGL export activity without significant capital spending.

$OKE {{ '2017-02-27T21:41:14+0000' | timeago}} • Announcement

$OKE reported a rise in 4Q16 earnings driven by higher NGL and natural gas volumes, new natural gas processing plant connections and higher average fee rates in natural gas gathering and processing. Net income rose to $90.5MM or $0.43 per share from $25.5MM or $0.12 per share last year. Revenue grew to $2.65Bil from $1.93Bil.

$OKE {{ '2017-02-02T16:32:54+0000' | timeago}} • Announcement

$OKE agreed to buy all outstanding common units of $OKS it does not already own for $9.3Bil in $OKE common stock. Under the agreement, each outstanding common unit of $OKS that $OKE does not already own will be converted into 0.985 shares of $OKE common stock.

$OKE {{ '2017-02-02T16:30:46+0000' | timeago}} • Announcement

$OKE expects 2017 net income of $575-755MM and adjusted EBITDA of $1.87-2.13Bil. The company predicts capital-growth expenditures of $380-480MM and maintenance capital expenditures of $140-160MM for 2017.

$OKE {{ '2017-02-01T14:48:28+0000' | timeago}} • Announcement

$OKE and $OKS entered into a definitive agreement under which $OKE will acquire all of the outstanding common units of $OKS it does not already own for $9.3Bil in ONEOK common stock. The company plans to complete the transaction in 2Q17. Upon completion of the transaction, ONEOK does not expect to pay cash income taxes through at least 2021.

$OKE {{ '2016-11-02T16:52:15+0000' | timeago}} • Webcast

$OKE stated the most of its potential M&A targets are having some overlap within the company's existing footprint and modestly reach into some other areas. Acquiring assets outside of the company's geographical footprint will make some sense, $OKE said.

$OKE {{ '2016-11-02T16:31:20+0000' | timeago}} • Webcast

$OKE reported that it will provide an outlook with regard to cash taxes for 2017 when it announces the rest of the guidance later this year or early next year. $OKE added that the dividend growth will consider the cash taxes.

$OKE {{ '2016-11-02T15:51:45+0000' | timeago}} • Webcast

$OKE expects to finish 2016 in line with its financial guidance. Natural gas pipeline segment results to be better than expected. Gathering and processing segment results are on target. Natural gas liquids segment is expected to end 2016 with slightly below operating income and equity earnings guidance for the year.

$OKE {{ '2016-11-02T15:37:09+0000' | timeago}} • Webcast

$OKE said that oil & gas industry is hurt by the duration of the low commodity price environment and it believes that expected ethane growth from the petrochemical industry will be a key opportunity. $OKE expects a meaningful impact from the ethane opportunity as new petrochemical plants come online and an increase in ethylene exports during 2017.

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