Higher NGL Volumes Lead to Higher Profits for ONEOK
August 10, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Despite severe April weather in its Rocky Mountains service area that hindered operations and the unplanned shutdown due to fire of a fractionation facility in Oklahoma, ONEOK Incorporated (NYSE:OKE) (Tulsa, Oklahoma) reported good results for the second quarter of 2022 due to increased natural gas liquids (NGL) throughput volumes on its system and higher commodities prices. ONEOK reported second-quarter net income of $441 million, a 21% increase from the corresponding quarter of 2021.
