ONEOK Inc. prospered at a time when other energy companies struggled. CEO John W. Gibson expects the company's success to continue in the future.
BY JAY F. MARKS •
Published: November 14, 2010
/articleid/3512539/1/pictures/1238494"> ONEOK Inc.'s headquarters in downtown Tulsa.
8 on the Oklahoma Inc. list this year.
"ONEOK has a strong balance sheet with total debt of less than 40 percent, an investment-grade credit rating, exceptional liquidity and a track record of financial discipline,” he said.
Gibson said ONEOK strives to set itself apart from similar companies by focusing on "providing services to our customers and producers … and how we can create long-term value for them, as well as for our shareholders.
"We also concentrate on those things we do well, which is part of our vision to be a premier energy company,” he said.
Gibson said ONEOK remains committed to key strategies that haven't changed much over the years, including the execution of strategic acquisitions that provide long-term value.
He expects the company to benefit from the growth of ONEOK Partners and continued strong performance of its own distribution and energy services segments.
"ONEOK expects to grow its net income by 8 to 10 percent, increase its dividend by 50 to 60 percent and to generate $150 (million) to $200 million a year in free cash flow — all over the next three years,” Gibson said.