ONEOK

ONEOK, Inc.
Type Public (NYSEOKE)
Industry storage, transportation, processing
Founded 1906
Founder(s) Dennis T. Flynn
C.B. Ames
Headquarters Tulsa, Oklahoma, U.S.
Key people David L.Kyle chair
Products Natural Gas
Revenue $11.1 billion (2009)decrease31.2%[1]
Net income $305.45 million (2009)steady[1]
Total assets $12.8 billion (2009)decrease2.3%[2]
Employees 4,077 Sept 2010
Divisions ONEOK Partners (42.8%)
Energy Services
Website http://www.oneok.com/
Alt text
OneOK headquarters in Tulsa, Oklahoma on 20 March 2007

ONEOK, Inc. (pronounced /ˈwʌnoʊk/ wun-ohk[3]; NYSEOKE) is a diversified Fortune 200 corporation based in Tulsa, Oklahoma. Founded in 1906 as Oklahoma Natural Gas Company, it is one of the largest natural gas distributors in the United States. It changed its corporate name to ONEOK in December 1980. It serves approximately 2 million customers through its natural gas distribution companies Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. ONEOK is also a general partner and owns 45.7 percent of ONEOK Partners, LP which is one of the largest publicly traded limited partnerships in the gathering, processing, storage, and transportation of natural gas. It also owns major natural gas liquids (NGL) systems due to the 2005 acquisition of Koch Industries natural gas businesses.

ONEOK's Energy Services operation focuses primarily on marketing natural gas and related services throughout the U.S. Energy Services, which derives more than 84 percent of its earnings from the physical marketing business, showed an operating income increase of $26.5 million. Energy Services’ retail business participates in customer gas choice program in Nebraska and Wyoming.

In 2007, Fortune magazine named ONEOK the most admired company in the Energy industry.[4]

ONEOK's predecessor, Oklahoma Natural Gas Company (ONG), had been headquartered in an Art Deco building on the northwest corner of Seventh Street and Boston Avenue in Tulsa since 1928. In 1982, ONEOK chairman, J. E. Tyree, announced plans to demolish the ONG building and replace it with a new 16-story tower. However, this did not happen. Instead, ONEOK bought the Cities Service Company (later renamed Citgo) in August, 1982. The acquired company already had a project underway to build a high-rise headquarters building at Fifth and Boulder. ONEOK realized that it would be more economical to cap the planned structure at 17 stories and move its headquarters there, rather than to proceed with its original plan. It completed the new black granite and glass tower in 1984.[5]

References

  1. ^ a b "Financial Statements for ONEOK, Inc.". http://www.google.com/finance?q=NYSE:OKE&fstype=ii. Retrieved 2011-02-01. 
  2. ^ "ONEOK 2009/2010 Factsheet". 2010. http://www.oneok.com/~/media/MiscDocs/OKEFactsheet.ashx. 
  3. ^ http://www.oneok.com/NewsRoom/MediaKits/ImageCampaign.aspx
  4. ^ 2007 Fortune Most Admired: Oneok
  5. ^ Davis, Kirby Lee "These Walls: Oneok Plaza in Tulsa". Journal Record, The (Oklahoma City). FindArticles.com. Retrieved July 14, 2011. [1]

External links