ONEOK reports 44 percent revenue increase over 2015

Post Date: Mar 03 2017
Photo: ONEOK
In its year-end and fourth quarter 2016 report, Oklahoma-based ONEOK reported a 44 percent net income increase over the previous year.

According to Terry Spencer, president and CEO of ONEOK and ONEOK Partners, the companies reported a strong 2016 financial performance. ONEOK Partners adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased nearly 18 percent over 2015.

Spencer said increased fee-based earning drove a double-digit adjustment of EBITDA in all three business segments—natural gas gathering and processing, pipelines and gas liquids.

“This strong year-over-year adjusted EBITDA growth was achieved despite increased ethane rejection and severe weather in December that impacted volumes in our natural gas liquids and natural gas gathering and processing segments in both the Williston Basin and the Mid-Continent,” he said.

Read more at http://northamericanshalemagazine.com/articles/1850/oneok-reports-44-percent-revenue-increase-over-2015.

Degrees in our Process Plant Technology and Petroleum Production Technology are just some programs that can qualify you to be employed at ONEOK.