He said ONEOK should continue to thrive even if the economy falters again.
“The majority of the services ONEOK Partners provides to natural gas producers and processors are non-discretionary, meaning that they must be performed if the commodities are to be produced and delivered to market,” Gibson said. “In addition, more than 60 percent of our net margin is fee-based, meaning that it is not directly related to changes in commodity prices or price differentials between market centers.
“For the margin that is exposed to commodity prices, ONEOK Partners mitigates that risk with a hedging strategy that locks in margins at favorable prices.”
He also said the projects being developed by ONEOK Partners are low risk endeavors.
“We have received firm commitments for our services that will enable us to deliver attractive returns on our investments as we continue to grow our business,” he said.