Oneok's earnings fall but meet expectations

Monday, August 2nd 2004, 5:19 pm

By: News On 6

TULSA, Okla. (AP) -- Second quarter earnings fall at Oneok Incorporated, but increased production and higher gas and oil prices allow the diversified energy company to beat expectations.

Tulsa-based Oneok says it earned $17.8-million -- or 17 cents per share -- in the period that ended June 30th. That compares with $22.5-million -- or 23 cents per share -- a year earlier.

Analysts had expected earnings of 16 cents per share.

In addition to exploration and production and energy trading, Oneok serves more than 2-million customers with its utility business in Kansas, Oklahoma and Texas.