Natural Gas Prices Provide Strong 2008 Earnings for ONEOK

SUGAR LAND--February 26, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Natural gas distributor ONEOK Incorporated (NYSE:OKE) (Tulsa, Oklahoma) had a very profitable 2008, as demonstrated by the company's recently released earnings for the 2008 fiscal year, which ended December 31, 2008. The company's net income rose from $304.9 million in 2007 to $311.9 million in 2008. Much of the increase in profits was caused by the higher price of natural gas during the first nine months of the year. As natural gas prices fell, so did the company's profits. Net income for the last quarter of 2008 was down 34% compared to the same period in 2007.

Other companies featured: ONEOK Partners LP (NYSE:OKS)