THIRD quarter earnings rise at Oneok
Thursday, November 1st 2001, 12:00 am
By: News On 6
TULSA, Okla. (AP) _ A jump in its energy marketing and trading segment helped boost third quarter earnings by 86 percent at Oneok Inc., the company announced Thursday.
The Tulsa-based natural gas production and distribution company reported net income of $18.8 million, or 16 cents a share, compared with $10.1 million, or 1 cent a share for the period last year.
For the first nine months of the year, Oneok earned $107.3 million, or 90 cents a share, compared with $100.3 million, or 85 cents a share a year ago.
Operating income for the energy marketing and trading segment jumped 95 percent, to $21.6 million in the third quarter, compared with $11.1 million.
Quarterly income fell in the company's gas gathering and processing and transportation and storage divisions.
Distribution operations, which include Oklahoma Natural Gas and Kansas Gas Service Co., lost $9.4 million, compared with a $12.4 million loss for the third quarter of 2000.
Production operating income tripled during the quarter to $9.4 million.