Oneok Inc ( (OKE) ) has released its Q4 earnings. Here is a breakdown of the information Oneok Inc presented to its investors.
ONEOK Inc., a leading midstream service provider, operates in the energy sector, specializing in the gathering, processing, transportation, and storage of natural gas, natural gas liquids (NGLs), and crude oil across North America.
ONEOK Inc. reported a significant increase in both fourth-quarter and full-year 2024 earnings, driven by strategic acquisitions and organic growth. The company’s net income, adjusted EBITDA, and other key financial metrics have shown substantial improvement compared to the previous year.
Key highlights of ONEOK’s performance include a net income of $3.1 billion for the full year 2024, with an adjusted EBITDA of $6.78 billion. The company also reported a 4% increase in crude oil volume shipped and a notable 11% increase in total wells connected. Strategic acquisitions, such as EnLink and Medallion, contributed significantly to the company’s earnings, alongside completed capital-growth projects like the MB-6 fractionator and the Elk Creek pipeline expansion.
ONEOK has also focused on returning value to shareholders, with a 4% increase in its quarterly dividend and share repurchases under its $2 billion program. The company announced joint ventures for an LPG export terminal and a pipeline project, further expanding its asset base and positioning for future growth.
Looking ahead, ONEOK’s management remains optimistic about the company’s growth trajectory, emphasizing a disciplined strategy and continued investment in strategic projects to enhance shareholder value and maintain its position as a leading energy infrastructure provider.