Form 10-Q · Quarterly report
Oneok 10-Q, filed Aug 4, 2026
- Filed
- CIK
- 0001039684
- Accession no.
- 0001039684-26-000029
Summary
Oneok reported second-quarter 2026 net income attributable to Oneok of $966 million, or $1.53 per diluted share, up from $841 million, or $1.34 per share, a year earlier, driven by higher NGL, refined products and natural gas volumes and increased optimization and marketing activity. The company detailed capital projects including Permian Basin processing and Texas Gulf Coast fractionation and export infrastructure, and declared a quarterly dividend of $1.07 per share.
Key points
- Second-quarter 2026 adjusted EBITDA was $2,121 million, up from $1,981 million in the same quarter of 2025, and first-half operating income rose $370 million to $3,021 million.
- Oneok expects consolidated earnings to be approximately 90% fee-based in 2026, supported by long-term contracts with investment-grade counterparties.
- Capital projects listed include the Bighorn gas plant ($365 million, mid-2027), the Medford fractionator rebuild ($485 million), the Texas City Logistics export terminal ($700 million, early 2028), the MBTC Pipeline ($280 million, early 2028), the Eiger Express Pipeline ($350 million, mid-2028) and the Greater Denver pipeline expansion ($480 million, third quarter 2026).
- Oneok redeemed the remaining $491 million of its 4.85% senior notes due July 2026 and entered a $1.2 billion term loan agreement in April 2026, with the remaining borrowings fully drawn in July 2026.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2.MANAGEMENT’S DISCUSSION RECENT DEVELOPMENTS Please refer to the “Financial Results and Operating Information” and “Liquidity and Capital Resources” sections of Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Quarterly Report for additional information. Business Update and Market Conditions - Earnings increased in the second quarter of 2026, compared with the second quarter of 2025, due primarily to higher NGL, Refined Products and natural gas volumes and higher optimization and marketing activity. …
An excerpt of the text as filed with the SEC, cut for length.
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