Third quarter: Oneok doubles income
Oneok doubles income in third quarter
Oneok Partners said its third-quarter net income more than doubled to $203.9 million, compared with net income of $95.9 million for the third quarter last year.
The partnership also raised this year’s net income guidance to the range of $5.95 to $6.15 per unit, reflecting stronger performance in the natural gas liquids gathering and fractionation segment primarily as a result of wider natural gas liquids (NGL) product price differentials.
Distributable cash flow is now expected to be in the range of $625 million to $655 million.
Oneok Partners' previous net income guidance was estimated to be in the range of $5.20 to $5.60 per unit, with distributable cash flow in the range of $585 million to $625 million.