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Oneok Inc   (NYSE: OKE)
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    Sector  Utilities    Industry Natural Gas Utilities
   Industry Natural Gas Utilities
   Sector  Utilities

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Description of Oneok Inc's Business Segments


Oneok Inc. operates through multiple segments that encompass a broad range of products and services in the natural gas and natural gas liquids (NGLs) industries. Heres an extensive breakdown of the company's segments, products, and services:

1. Partners Segment

The Partners segment of Oneok is primarily focused on the gathering and processing of natural gas as well as the gathering, transportation, and fractionation of NGLs. This segment operates mainly in several prolific geological regions across the United States, notably:

- Mid-Continent Region: Including the Anadarko Basin in Oklahoma and the Fort Worth Basin in Texas.
- Rocky Mountain Region: Encompassing the Hugoton and Central Kansas Uplift Basins in Kansas, the Williston Basin in North Dakota and Montana, and the Powder River Basin in Wyoming.

Key Operations:
- Gathering of Natural Gas: This involves collecting natural gas from crude oil and natural gas wells. The natural gas is aggregated and treated through gathering systems to remove impurities like water vapor, solids, and other contaminants.
- Processing and NGL Extraction: Once natural gas is gathered, it is transported to processing plants where NGLs are extracted. The resulting product is marketable natural gas known as residue gas. The NGLs collected are initially in a mixed, unfractionated stream.
- Coal Bed Methane Gathering: In the Powder River Basin, Oneok specifically gathers dry gas (coal bed methane) which does not require further processing for marketability. This gas is compressed and delivered to downstream pipelines or marketed directly.

Distribution Segment

The Distribution segment of Oneok delivers natural gas to over two million residential, commercial, industrial, and transportation customers primarily in three states: Oklahoma, Kansas, and Texas. This segment operates through three main divisions:

- Oklahoma Natural Gas
- Kansas Gas Service
- Texas Gas Service

Services Offered:
- Retail Natural Gas Distribution: Providing safe and reliable natural gas to a broad customer base including households and businesses.
- Wholesale Services: The distribution companies in Oklahoma and Kansas also serve wholesale customers, providing larger volumes of natural gas to utility and industrial customers.

Energy Services Segment

The Energy Services segment is designed to create value for customers by offering physical natural gas products and risk management solutions. This includes:

Key Functions:
- Natural Gas Supply: It ensures the delivery of natural gas to meet varying customer demands.
- Transportation and Storage Capacity: The energy services segment maintains a network of contracted storage and transportation capacity that links major supply and demand centers across the U.S. and extends into Canada.

Customer Base:
- The segment primarily serves local distribution companies (LDCs), electric utilities, and industrial end-users, all of whom have fluctuating natural gas requirements largely influenced by seasonal weather changes.

Conclusion

Oneok Inc. plays a significant role in the natural gas and NGL markets through its various segments, each offering a diverse set of services tailored to meet the varying needs of its customers. The company's operations are deeply embedded in critical geological formations and its pipeline and processing capabilities position it as a vital entity in the energy landscape. This extensive suite of services and products is designed to cater to an evolving market landscape, ensuring that Oneok remains a key player in the energy sector.


Composition of Oneok Inc Revenues by Segments

 
Liquids commodity sales    76.85 % of total Revenue
Residue natural gas sales    4.36 % of total Revenue
Gathering processing and exchange services revenue    3.26 % of total Revenue
Transportation and storage revenue    14.79 % of total Revenue
Other    0.74 % of total Revenue
segments    113.84 % of total Revenue
Natural Gas Gathering and Processing Natural Gas Gathering and Processing Intersegment    13.08 % of total Revenue
Natural Gas Gathering and Processing segments    18.02 % of total Revenue
Natural Gas Gathering and Processing Liquids commodity sales    12.9 % of total Revenue
Natural Gas Gathering and Processing Residue natural gas sales    4.36 % of total Revenue
Natural Gas Gathering and Processing Gathering processing and exchange services revenue    0.7 % of total Revenue
Natural Gas Gathering and Processing Other    0.06 % of total Revenue
Natural Gas Liquids segments    73.24 % of total Revenue
Natural Gas Liquids Liquids commodity sales    69.6 % of total Revenue
Natural Gas Liquids Gathering processing and exchange services revenue    2.57 % of total Revenue
Natural Gas Liquids Transportation and storage revenue    1 % of total Revenue
Natural Gas Liquids Other    0.08 % of total Revenue
Natural Gas Pipelines segments    3.4 % of total Revenue
Natural Gas Pipelines Transportation and storage revenue    3.4 % of total Revenue
Refined Products and Crude segments    19.17 % of total Revenue
Refined Products and Crude Liquids commodity sales    8.1 % of total Revenue
Refined Products and Crude Transportation and storage revenue    10.47 % of total Revenue
Refined Products and Crude Other    0.6 % of total Revenue
Natural Gas Pipelines    3.4 % of total Revenue
Refined Products and Crude c    19.17 % of total Revenue
Other and Eliminations    -13.84 % of total Revenue
Liquids commodity sales segments    90.6 % of total Revenue
Liquids commodity sales Refined Products and Crude c    8.1 % of total Revenue
Liquids commodity sales Other and Eliminations    -13.76 % of total Revenue
Residue natural gas sales segments    4.36 % of total Revenue
Gathering processing and exchange services revenue segments    3.26 % of total Revenue
Transportation and storage revenue segments    14.87 % of total Revenue
Transportation and storage revenue Natural Gas Pipelines    3.4 % of total Revenue
Transportation and storage revenue Refined Products and Crude c    10.47 % of total Revenue
Transportation and storage revenue Other and Eliminations    -0.08 % of total Revenue
Other segments    0.74 % of total Revenue
Other Refined Products and Crude c    0.6 % of total Revenue

Q3 three months ended (Sep 30 2024)
Revenues by Business Segments Revenues
(in millions $)
%
(of total Revenues)
Liquids commodity sales 3,860.00 76.85 %
Residue natural gas sales 219.00 4.36 %
Gathering processing and exchange services revenue 164.00 3.26 %
Transportation and storage revenue 743.00 14.79 %
Other 37.00 0.74 %
segments 5,718.00 113.84 %
Natural Gas Gathering and Processing Natural Gas Gathering and Processing Intersegment 657.00 13.08 %
Natural Gas Gathering and Processing segments 905.00 18.02 %
Natural Gas Gathering and Processing Liquids commodity sales 648.00 12.9 %
Natural Gas Gathering and Processing Residue natural gas sales 219.00 4.36 %
Natural Gas Gathering and Processing Gathering processing and exchange services revenue 35.00 0.7 %
Natural Gas Gathering and Processing Other 3.00 0.06 %
Natural Gas Liquids segments 3,679.00 73.24 %
Natural Gas Liquids Liquids commodity sales 3,496.00 69.6 %
Natural Gas Liquids Gathering processing and exchange services revenue 129.00 2.57 %
Natural Gas Liquids Transportation and storage revenue 50.00 1 %
Natural Gas Liquids Other 4.00 0.08 %
Natural Gas Pipelines segments 171.00 3.4 %
Natural Gas Pipelines Transportation and storage revenue 171.00 3.4 %
Refined Products and Crude segments 963.00 19.17 %
Refined Products and Crude Liquids commodity sales 407.00 8.1 %
Refined Products and Crude Transportation and storage revenue 526.00 10.47 %
Refined Products and Crude Other 30.00 0.6 %
Natural Gas Pipelines 171.00 3.4 %
Refined Products and Crude c 963.00 19.17 %
Other and Eliminations -695.00 -13.84 %
Liquids commodity sales segments 4,551.00 90.6 %
Liquids commodity sales Refined Products and Crude c 407.00 8.1 %
Liquids commodity sales Other and Eliminations -691.00 -13.76 %
Residue natural gas sales segments 219.00 4.36 %
Gathering processing and exchange services revenue segments 164.00 3.26 %
Transportation and storage revenue segments 747.00 14.87 %
Transportation and storage revenue Natural Gas Pipelines 171.00 3.4 %
Transportation and storage revenue Refined Products and Crude c 526.00 10.47 %
Transportation and storage revenue Other and Eliminations -4.00 -0.08 %
Other segments 37.00 0.74 %
Other Refined Products and Crude c 30.00 0.6 %
Total 5,023.00 100 %




Q3 three months ended (Sep 30 2024)
Revenue Growth rates by Segment Y/Y Revenue
%
Q/Q Revenue
%
Liquids commodity sales - -
Residue natural gas sales -22.34 % -
Gathering processing and exchange services revenue -11.83 % -
Transportation and storage revenue 295.21 % -
Other -55.95 % -
segments 18.7 % -
Natural Gas Gathering and Processing Natural Gas Gathering and Processing Intersegment 5.97 % -
Natural Gas Gathering and Processing segments -6.22 % -
Natural Gas Gathering and Processing Liquids commodity sales - -
Natural Gas Gathering and Processing Residue natural gas sales -21.51 % -
Natural Gas Gathering and Processing Gathering processing and exchange services revenue -2.78 % -
Natural Gas Gathering and Processing Other -66.67 % -
Natural Gas Liquids segments 1.24 % -
Natural Gas Liquids Liquids commodity sales - -
Natural Gas Liquids Gathering processing and exchange services revenue -14 % -
Natural Gas Liquids Transportation and storage revenue 4.17 % -
Natural Gas Liquids Other 0 % -
Natural Gas Pipelines segments 17.12 % -
Natural Gas Pipelines Transportation and storage revenue 19.58 % -
Refined Products and Crude segments 1237.5 % -
Refined Products and Crude Liquids commodity sales - -
Refined Products and Crude Transportation and storage revenue - -
Refined Products and Crude Other -58.33 % -
Natural Gas Pipelines 17.12 % -
Refined Products and Crude c 1237.5 % -
Other and Eliminations - -
Liquids commodity sales segments - -
Liquids commodity sales Refined Products and Crude c - -
Liquids commodity sales Other and Eliminations - -
Residue natural gas sales segments -22.34 % -
Gathering processing and exchange services revenue segments -11.83 % -
Transportation and storage revenue segments 291.1 % -
Transportation and storage revenue Natural Gas Pipelines 19.58 % -
Transportation and storage revenue Refined Products and Crude c - -
Transportation and storage revenue Other and Eliminations - -
Other segments -56.47 % -
Other Refined Products and Crude c -58.33 % -
Total - -




Q3 three months ended (Sep 30 2024)
Income by Business Segments Income
(in millions $)
%
(Profit Margin)
Total 693.00 13.8 %




Q3 three months ended (Sep 30 2024)
Income Growth rates by Segment Y/Y Income
%
Q/Q Income
%
Total - -




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