TULSA — The company that owns Oklahoma Natural Gas Co. began trading Monday on the New York Stock Exchange, finalizing a separation from its former parent, ONEOK Inc.
The company’s stock ended the day at $33.63, down 49 cents, with trading volume of 2 million shares. Its ticker symbol is OGS.
About the company
ONE Gas Inc. also operates Texas Gas Service and Kansas Gas Service. The regulated natural gas company has 2 million customers in Oklahoma, Texas and Kansas.
“As a stand-alone, 100-percent regulated natural gas distribution business, we will be able to sharpen our focus on our distinct strategic goals and continue to invest in capital projects that improve safety, reliability and efficiency to better meet the expectations of our stakeholders,” said Pierce H. Norton II, president and CEO. “ONE Gas is well positioned for long-term success and will continue to deliver the same safe, reliable and efficient service our customers have come to expect from us for more than a century.”
ONEOK shareholders retained their shares in ONEOK and received one share of ONE Gas for every four shares of ONEOK stock they owned. The ONE Gas shares were distributed Friday.
ONE Gas’ largest natural gas distribution markets are Oklahoma City and Tulsa; Kansas City, Wichita and Topeka, Kan.; and Austin and El Paso, Texas.