Declares Second Quarter
Dividend
TULSA,
Okla., May 2, 2022 /PRNewswire/ -- ONE Gas, Inc.
(NYSE: OGS) today announced its first quarter 2022 financial
results, affirmed its 2022 financial guidance and declared its
quarterly dividend.
FIRST QUARTER 2022 FINANCIAL RESULTS & HIGHLIGHTS
- First quarter 2022 net income was $98.9
million, or $1.83 per diluted
share, compared with $95.6 million,
or $1.79 per diluted share, in the
first quarter 2021;
- Actual heating degree days across the Company's service areas
were 5,699 in the first quarter 2022, 9% colder than normal and 2%
colder than the same period last year; and
- The board of directors declared a quarterly dividend of
$0.62 per share, or $2.48 per share on an annualized basis, payable
on June 1, 2022, to shareholders of
record at the close of business on May
16, 2022.
"In the first quarter, our maintenance and growth capital
programs were both on track, underscoring the opportunities created
by the location of our assets," said Robert
S. McAnnally, president and chief executive officer. "In the
current environment, we remain focused on our long-term strategy,
which includes a commitment to safely operating our assets,
expanding service to new customers, and managing costs."
FIRST QUARTER 2022 FINANCIAL PERFORMANCE
ONE Gas reported operating income of $140.8 million in the first quarter 2022,
compared with $130.3 million in the
first quarter 2021, which primarily reflects:
- an increase of $15.1 million from
new rates;
- a decrease of $2.4 million in bad
debt expense; and
- an increase of $2.6 million in
residential sales due to net customer growth.
These increases were partially offset by:
- an increase of $3.7 million in
outside service costs; and
- an increase of $2.2 million in
employee-related costs.
For the first quarter 2022, other expense, net, increased
$3.7 million compared with the same
period last year. Other expense, net, includes $2.8 million of expense and $0.6 million of income for the quarters ended
March 31, 2022, and 2021,
respectively, related to the Company's non-qualified employee
benefit plans. In addition, there is $0.8
million and $0.6 million of
related expense in operations and maintenance expense for the
quarters ended March 31, 2022, and
2021, respectively. In total, these non-cash expenses, which are
not included in guidance, were $3.6
million higher for the quarter than the prior year.
Income tax expense includes a credit for amortization of the
regulatory liability associated with excess accumulated deferred
income taxes (EDIT) of $7.9 million and $8.1 million for the three-month periods
ended March 31, 2022, and 2021,
respectively.
Capital expenditures and asset removal costs were $122.9 million for the first quarter 2022
compared with $109.0 million in the
same period last year. The increase was due primarily to
expenditures for system integrity and extension of service to new
areas.
REGULATORY ACTIVITIES UPDATE
Securitization
In Oklahoma, the Oklahoma
Development Finance Authority (ODFA) received a hearing before the
Oklahoma Supreme Court on April 13,
2022, seeking validation of the bond issuance. If the
Oklahoma Supreme Court issues a ruling that validates the bond
issuance by the ODFA complies with the Oklahoma securitization statute and the laws
of Oklahoma, the ODFA will
continue the process to issue the securitized bonds associated with
the Oklahoma Natural Gas financing order. Pending a ruling from the
Oklahoma Supreme Court, the financing order requests the ODFA to
issue bonds and provide the net proceeds to Oklahoma Natural Gas as
soon as feasible in 2022. At March 31,
2022, Oklahoma Natural Gas has deferred approximately
$1.3 billion in extraordinary costs
attributable to Winter Storm
Uri.
In Kansas, on March 31, 2022, Kansas Gas Service submitted its
application for a financing order to the Kansas Corporation
Commission (KCC) as contemplated by the settlement reached on its
financial plan. Kansas Gas Service has requested approval to issue
securitized bonds to recover extraordinary costs resulting from
Winter Storm Uri and flexibility to
recover the costs over 5, 7, 10 or 12 years. The KCC has until
Sept. 27, 2022, to review the
application and issue a financing order if it deems the issuance of
securitized bonds to be appropriate. If the KCC approves the
financing order, the Company can begin the process to issue the
securitized bonds. At March 31, 2022,
Kansas Gas Service has deferred approximately $335.6 million in extraordinary costs, net of
penalties billed, attributable to Winter
Storm Uri.
In Texas, the Texas Public
Finance Authority has begun the process to issue securitized bonds,
which by statute, must be issued no later than Aug. 7, 2022. At March 31,
2022, Texas Gas Service has deferred approximately
$248.3 million in extraordinary costs
associated with Winter Storm Uri,
which includes $50.7 million
attributable to the West Texas
service area. Pursuant to the approved settlement order, in
January 2022, Texas Gas Service began
collecting the extraordinary costs, including carrying costs,
attributable to the West Texas
service area from those customers over a three year period.
Other Regulatory Updates
In March 2022, Oklahoma Natural
Gas filed its first annual Performance-Based Rate Change (PBRC)
application following the general rate case that was approved in
November 2021. The filing is for a
calendar year 2021 test year and includes a requested base rate
increase of $19.7 million, energy
efficiency program incentive of $2.3
million and an estimated $9.1
million credit associated with EDIT. If approved, new rates
are expected to become effective in the third quarter 2022, and
EDIT is expected to be credited to customers in 2023.
In February 2022, Texas Gas
Service made Gas Reliability Infrastructure Program (GRIP) filings
for all customers in the Central-Gulf Service Area, requesting a
$9.1 million increase to be effective
in June 2022.
In March 2022, Texas Gas Service
made GRIP filings for all customers in the West Texas service area, requesting a
$5.0 million increase to be effective
in July 2022.
In April 2022, Texas Gas Service
filed its annual Cost-of-Service Adjustment filing for the
incorporated area of the Rio Grande Valley service area, requesting
an increase of $2.9 million. If
approved, new rates will become effective in August 2022.
2022 FINANCIAL GUIDANCE
ONE Gas affirmed its financial guidance issued on Jan. 18, 2022, with 2022 net income and earnings
per share expected to be in the range of $215 million to $227
million, and $3.96 to
$4.20 per diluted share. Capital
expenditures, including asset removal costs, are expected to be
approximately $650 million for
2022.
EARNINGS CONFERENCE CALL AND WEBCAST
The ONE Gas executive management team will conduct a conference
call on Tuesday, May 3, 2022, at
11 a.m. Eastern Daylight Time
(10 a.m. Central Daylight Time). The
call also will be carried live on the ONE Gas website.
To participate in the telephone conference call, dial
888-254-3590, passcode 9128072, or log on to
www.onegas.com/investors and select Events and Presentations.
If you are unable to participate in the conference call or the
webcast, a replay will be available on the ONE Gas website,
www.onegas.com, for 30 days. A recording will be available by phone
for seven days. The playback call may be accessed at 888-203-1112,
passcode 9128072.
ONE Gas, Inc. (NYSE: OGS) is a 100% regulated natural gas
utility, and trades on the New York Stock Exchange under the symbol
"OGS." ONE Gas is included in the S&P MidCap 400 Index and is
one of the largest natural gas utilities in the United States.
Headquartered in Tulsa,
Oklahoma, ONE Gas provides a reliable and affordable energy
choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas
Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in
Oklahoma; and Texas Gas Service,
the third largest in Texas, in
terms of customers.
For more information and the latest news about ONE Gas, visit
onegas.com and follow its social channels: @ONEGas, Facebook,
LinkedIn and YouTube.
Some of the statements contained and incorporated in this news
release are forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange
Act. The forward-looking statements relate to our anticipated
financial performance, liquidity, management's plans and objectives
for our future operations, our business prospects, the outcome of
regulatory and legal proceedings, market conditions and other
matters. We make these forward-looking statements in reliance on
the safe harbor protections provided under the Private Securities
Litigation Reform Act of 1995. The following discussion is intended
to identify important factors that could cause future outcomes to
differ materially from those set forth in the forward-looking
statements.
Forward-looking statements include the items identified in the
preceding paragraph, the information concerning possible or assumed
future results of our operations and other statements contained or
incorporated in this news release identified by words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," "should," "goal," "forecast," "guidance," "could,"
"may," "continue," "might," "potential," "scheduled," "likely," and
other words and terms of similar meaning.
One should not place undue reliance on forward-looking
statements, which are applicable only as of the date of this news
release. Known and unknown risks, uncertainties and
other factors may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by forward-looking
statements. Those factors may affect our operations, markets,
products, services and prices. In addition to any assumptions
and other factors referred to specifically in connection with the
forward-looking statements, factors that could cause our actual
results to differ materially from those contemplated in any
forward-looking statement include, among others, the following:
- our ability to recover costs (including operating costs and
increased commodity costs related to Winter
Storm Uri in February 2021),
income taxes and amounts equivalent to the cost of property, plant
and equipment, regulatory assets and our allowed rate of return in
our regulated rates;
- cyber-attacks, which, according to experts, have increased in
volume and sophistication since the beginning of the COVID-19
pandemic, or breaches of technology systems that could disrupt our
operations or result in the loss or exposure of confidential or
sensitive customer, employee or Company information; further,
increased remote working arrangements as a result of the pandemic
have required enhancements and modifications to our IT
infrastructure (e.g. Internet, Virtual Private Network, remote
collaboration systems, etc.), and any failures of the technologies,
including third-party service providers, that facilitate working
remotely could limit our ability to conduct ordinary operations or
expose us to increased risk or effect of an attack;
- our ability to manage our operations and maintenance
costs;
- the concentration of our operations in Kansas, Oklahoma, and Texas;
- changes in regulation of natural gas distribution services,
particularly those in Oklahoma,
Kansas and Texas;
- the economic climate and, particularly, its effect on the
natural gas requirements of our residential and commercial
customers;
- the length and severity of a pandemic or other health crisis,
such as the outbreak of COVID-19, including the impact to our
operations, customers, contractors, vendors and employees, the
effectiveness of vaccine campaigns (including the COVID-19 vaccine
campaign) on our workforce and customers and the effect of other
measures or mandates that international, federal, state and local
governments, agencies, law enforcement and/or health authorities
implement to address the pandemic or other health crisis, which
could (as with COVID-19) precipitate or exacerbate one or more of
the above-mentioned and/or other risks, and significantly disrupt
or prevent us from operating our business in the ordinary course
for an extended period;
- competition from alternative forms of energy, including, but
not limited to, electricity, solar power, wind power, geothermal
energy and biofuels;
- conservation and energy efficiency efforts of our
customers;
- adverse weather conditions and variations in weather, including
seasonal effects on demand and/or supply, the occurrence of severe
storms in the territories in which we operate, and climate change,
and the related effects on supply, demand, and costs;
- indebtedness could make us more vulnerable to general adverse
economic and industry conditions, limit our ability to borrow
additional funds and/or place us at competitive disadvantage
compared with competitors;
- our ability to secure reliable, competitively priced and
flexible natural gas transportation and supply, including decisions
by natural gas producers to reduce production or shut-in producing
natural gas wells and expiration of existing supply and
transportation and storage arrangements that are not replaced with
contracts with similar terms and pricing;
- our ability to complete necessary or desirable expansion or
infrastructure development projects, which may delay or prevent us
from serving our customers or expanding our business;
- operational and mechanical hazards or interruptions;
- the effectiveness of our strategies to reduce earnings lag,
revenue protection strategies and risk mitigation strategies, which
may be affected by risks beyond our control such as commodity price
volatility, counterparty performance or creditworthiness and
interest rate risk;
- the capital-intensive nature of our business, and the
availability of and access to, in general, funds to meet our debt
obligations prior to or when they become due and to fund our
operations and capital expenditures, either through (i) cash on
hand, (ii) operating cash flow, or (iii) access to the capital
markets and other sources of liquidity;
- our ability to obtain capital on commercially reasonable terms,
or on terms acceptable to us, or at all;
- limitations on our operating flexibility, earnings and cash
flows due to restrictions in our financing arrangements;
- cross-default provisions in our borrowing arrangements, which
may lead to our inability to satisfy all of our outstanding
obligations in the event of a default on our part;
- changes in the financial markets during the periods covered by
the forward-looking statements, particularly those affecting the
availability of capital and our ability to refinance existing debt
and fund investments and acquisitions to execute our business
strategy;
- actions of rating agencies, including the ratings of debt,
general corporate ratings and changes in the rating agencies'
ratings criteria;
- changes in inflation and interest rates;
- our ability to recover the costs of natural gas purchased for
our customers, including those related to Winter Storm Uri and any related financing
required to support our purchase of natural gas supply, including
the securitized financings currently contemplated in each of our
jurisdictions;
- impact of potential impairment charges;
- volatility and changes in markets for natural gas and our
ability to secure additional and sufficient liquidity on reasonable
commercial terms to cover costs associated with such
volatility;
- possible loss of local distribution company franchises or other
adverse effects caused by the actions of municipalities;
- payment and performance by counterparties and customers as
contracted and when due, including our counterparties maintaining
ordinary course terms of supply and payments;
- changes in existing or the addition of new environmental,
safety, tax and other laws to which we and our subsidiaries are
subject, including those that may require significant expenditures,
significant increases in operating costs or, in the case of
noncompliance, substantial fines or penalties;
- the effectiveness of our risk-management policies and
procedures, and employees violating our risk-management
policies;
- the uncertainty of estimates, including accruals and costs of
environmental remediation;
- advances in technology, including technologies that increase
efficiency or that improve electricity's competitive position
relative to natural gas;
- population growth rates and changes in the demographic patterns
of the markets we serve, and economic conditions in these areas'
housing markets;
- acts of nature and the potential effects of threatened or
actual terrorism and war, including recent events in Europe;
- the sufficiency of insurance coverage to cover losses;
- the effects of our strategies to reduce tax payments;
- the effects of litigation and regulatory investigations,
proceedings, including our rate cases, or inquiries and the
requirements of our regulators as a result of the Tax Cuts and Jobs
Act of 2017;
- changes in accounting standards;
- changes in corporate governance standards;
- discovery of material weaknesses in our internal controls;
- our ability to comply with all covenants in our indentures and
the ONE Gas Credit Agreement, a violation of which, if not cured in
a timely manner, could trigger a default of our obligations;
- our ability to attract and retain talented employees,
management and directors, and shortage of skilled-labor;
- unexpected increases in the costs of providing health care
benefits, along with pension and postemployment health care
benefits, as well as declines in the discount rates on, declines in
the market value of the debt and equity securities of, and
increases in funding requirements for, our defined benefit plans;
and
- our ability to successfully complete merger, acquisition or
divestiture plans, regulatory or other limitations imposed as a
result of a merger, acquisition or divestiture, and the success of
the business following a merger, acquisition or divestiture.
These factors are not necessarily all of the important factors
that could cause actual results to differ materially from those
expressed in any of our forward-looking statements. Other factors
could also have material adverse effects on our future results.
These and other risks are described in greater detail in Part 1,
Item 1A, Risk Factors, in our Annual Report. All forward-looking
statements attributable to us or persons acting on our behalf are
expressly qualified in their entirety by these factors. Other than
as required under securities laws, we undertake no obligation to
update publicly any forward-looking statement whether as a result
of new information, subsequent events or change in circumstances,
expectations or otherwise.
APPENDIX
ONE Gas, Inc.
|
CONSOLIDATED STATEMENTS OF
INCOME
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
(Unaudited)
|
|
2022
|
|
2021
|
|
|
(Thousands of dollars, except
per share amounts)
|
|
|
|
|
|
Total revenues
|
|
$
971,459
|
|
$ 625,293
|
|
|
|
|
|
Cost of natural gas
|
|
639,946
|
|
314,069
|
|
|
|
|
|
Operating expenses
|
|
|
|
|
Operations and maintenance
|
|
115,095
|
|
110,886
|
Depreciation and amortization
|
|
57,137
|
|
52,266
|
General taxes
|
|
18,524
|
|
17,727
|
Total operating
expenses
|
|
190,756
|
|
180,879
|
Operating income
|
|
140,757
|
|
130,345
|
Other expense,
net
|
|
(4,145)
|
|
(405)
|
Interest expense,
net
|
|
(15,595)
|
|
(15,440)
|
Income before income
taxes
|
|
121,017
|
|
114,500
|
Income taxes
|
|
(22,083)
|
|
(18,925)
|
Net income
|
|
$
98,934
|
|
$
95,575
|
|
|
|
|
|
Earnings per
share
|
|
|
|
|
Basic
|
|
$
1.83
|
|
$
1.79
|
Diluted
|
|
$
1.83
|
|
$
1.79
|
|
|
|
|
|
Average shares
(thousands)
|
|
|
|
|
Basic
|
|
53,922
|
|
53,372
|
Diluted
|
|
54,030
|
|
53,515
|
Dividends declared per
share of stock
|
|
$
0.62
|
|
$
0.58
|
ONE Gas, Inc.
|
CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
|
|
|
March 31,
|
|
December 31,
|
(Unaudited)
|
|
2022
|
|
2021
|
Assets
|
|
(Thousands of dollars)
|
Property, plant and equipment
|
|
|
|
|
Property, plant and equipment
|
|
$
7,365,981
|
|
$ 7,274,268
|
Accumulated depreciation and amortization
|
|
2,102,368
|
|
2,083,433
|
Net property, plant and
equipment
|
|
5,263,613
|
|
5,190,835
|
Current assets
|
|
|
|
|
Cash and cash equivalents
|
|
12,447
|
|
8,852
|
Accounts receivable, net
|
|
494,696
|
|
341,756
|
Materials and supplies
|
|
54,187
|
|
54,892
|
Natural gas in storage
|
|
78,945
|
|
179,646
|
Regulatory assets
|
|
1,600,034
|
|
1,611,676
|
Other current assets
|
|
34,161
|
|
27,742
|
Total current assets
|
|
2,274,470
|
|
2,224,564
|
Goodwill and other assets
|
|
|
|
|
Regulatory assets
|
|
651,931
|
|
724,862
|
Goodwill
|
|
157,953
|
|
157,953
|
Other assets
|
|
119,667
|
|
103,906
|
Total goodwill and other
assets
|
|
929,551
|
|
986,721
|
Total assets
|
|
$
8,467,634
|
|
$ 8,402,120
|
|
|
|
|
|
ONE Gas, Inc.
|
CONSOLIDATED BALANCE SHEETS
|
(Continued)
|
|
|
March 31,
|
|
December 31,
|
(Unaudited)
|
|
2022
|
|
2021
|
Equity and Liabilities
|
|
(Thousands of dollars)
|
Equity and long-term debt
|
|
|
|
|
Common stock, $0.01 par
value:
authorized 250,000,000
shares; issued and outstanding 54,089,817 shares at March 31,
2022; issued and outstanding 53,633,210 shares at December 31,
2021
|
|
$
541
|
|
$
536
|
Paid-in capital
|
|
1,824,771
|
|
1,790,362
|
Retained earnings
|
|
630,536
|
|
565,161
|
Accumulated other comprehensive loss
|
|
(6,458)
|
|
(6,527)
|
Total equity
|
|
2,449,390
|
|
2,349,532
|
Long-term debt, excluding current maturities and net of
issuance costs of $12,229 and $12,418,
respectively
|
|
2,283,620
|
|
3,683,378
|
Total equity and long-term
debt
|
|
4,733,010
|
|
6,032,910
|
Current liabilities
|
|
|
|
|
Current maturities of long-term debt
|
|
1,400,011
|
|
11
|
Short-term debt
|
|
505,165
|
|
494,000
|
Accounts payable
|
|
209,756
|
|
258,554
|
Accrued taxes other than income
|
|
75,153
|
|
67,035
|
Regulatory liabilities
|
|
32,822
|
|
8,090
|
Customer deposits
|
|
61,105
|
|
62,454
|
Other current liabilities
|
|
84,754
|
|
90,349
|
Total current
liabilities
|
|
2,368,766
|
|
980,493
|
Deferred credits and other
liabilities
|
|
|
|
|
Deferred income taxes
|
|
698,765
|
|
695,284
|
Regulatory liabilities
|
|
542,622
|
|
552,928
|
Employee benefit obligations
|
|
28,468
|
|
35,226
|
Other deferred credits
|
|
96,003
|
|
105,279
|
Total deferred credits and
other liabilities
|
|
1,365,858
|
|
1,388,717
|
Commitments and contingencies
|
|
|
|
|
Total liabilities and
equity
|
|
$
8,467,634
|
|
$ 8,402,120
|
ONE Gas, Inc.
|
CONSOLIDATED STATEMENTS OF CASH
FLOWS
|
|
|
Three Months Ended
|
|
|
March 31,
|
(Unaudited)
|
|
2022
|
|
2021
|
|
|
(Thousands of
dollars)
|
Operating activities
|
|
|
|
|
Net
income
|
|
$
98,934
|
|
$
95,575
|
Adjustments to reconcile net income to net cash provided by
operating activities:
|
|
|
|
|
Depreciation and
amortization
|
|
57,137
|
|
52,266
|
Deferred income
taxes
|
|
(6,849)
|
|
18,567
|
Share-based compensation
expense
|
|
2,695
|
|
2,587
|
Provision for doubtful
accounts
|
|
1,338
|
|
3,754
|
Changes in assets and
liabilities:
|
|
|
|
|
Accounts
receivable
|
|
(154,278)
|
|
9,640
|
Materials and
supplies
|
|
705
|
|
1,619
|
Natural gas in
storage
|
|
100,701
|
|
49,625
|
Asset removal
costs
|
|
(9,554)
|
|
(9,885)
|
Accounts
payable
|
|
(56,863)
|
|
87,202
|
Accrued taxes other
than income
|
|
8,118
|
|
2,059
|
Customer
deposits
|
|
(1,349)
|
|
(10,787)
|
Regulatory assets and
liabilities - current
|
|
36,374
|
|
20,466
|
Regulatory assets and
liabilities - non-current
|
|
66,002
|
|
(1,946,526)
|
Other assets and
liabilities - current
|
|
(12,438)
|
|
(20,698)
|
Other assets and
liabilities - noncurrent
|
|
(23,037)
|
|
(14,729)
|
Cash provided by (used
in) operating activities
|
|
107,636
|
|
(1,659,265)
|
Investing activities
|
|
|
|
|
Capital expenditures
|
|
(113,307)
|
|
(99,093)
|
Other investing expenditures
|
|
(608)
|
|
(2,351)
|
Other investing receipts
|
|
549
|
|
241
|
Cash used in investing
activities
|
|
(113,366)
|
|
(101,203)
|
Financing activities
|
|
|
|
|
Borrowings (repayments) on short-term debt, net
|
|
11,165
|
|
28,775
|
Issuance of debt, net of discounts
|
|
—
|
|
2,498,895
|
Long-term debt financing costs
|
|
—
|
|
(35,110)
|
Issuance of common stock
|
|
34,468
|
|
—
|
Dividends paid
|
|
(33,285)
|
|
(30,882)
|
Tax
withholdings related to net share settlements of stock
compensation
|
|
(3,023)
|
|
(4,292)
|
Cash provided by (used in)
financing activities
|
|
9,325
|
|
2,457,386
|
Change in cash and cash
equivalents
|
|
3,595
|
|
696,918
|
Cash and cash equivalents at
beginning of period
|
|
8,852
|
|
7,993
|
Cash and cash equivalents at
end of period
|
|
$
12,447
|
|
$
704,911
|
ONE Gas, Inc.
|
INFORMATION AT A GLANCE
|
|
Three Months Ended
|
|
March 31,
|
(Unaudited)
|
2022
|
|
2021
|
|
(Millions of dollars)
|
Natural gas
sales
|
$
|
927.0
|
|
$
|
582.8
|
Transportation
revenues
|
$
|
36.8
|
|
$
|
36.2
|
Other
revenues
|
$
|
7.6
|
|
$
|
6.3
|
Total
revenues
|
$
|
971.4
|
|
$
|
625.3
|
Cost of natural
gas
|
$
|
639.9
|
|
$
|
314.1
|
Operating
costs
|
$
|
133.6
|
|
$
|
128.6
|
Depreciation and
amortization
|
$
|
57.1
|
|
$
|
52.3
|
Operating
income
|
$
|
140.8
|
|
$
|
130.3
|
Net income
|
$
|
98.9
|
|
$
|
95.6
|
Capital expenditures
and asset removal costs
|
$
|
122.9
|
|
$
|
109.0
|
|
|
|
|
|
|
Volumes (Bcf)
|
|
|
|
|
|
Natural gas
sales
|
|
|
|
|
|
Residential
|
|
60.7
|
|
|
63.0
|
Commercial and
industrial
|
|
19.4
|
|
|
18.5
|
Other
|
|
1.1
|
|
|
1.1
|
Total sales volumes
delivered
|
|
81.1
|
|
|
82.5
|
Transportation
|
|
67.1
|
|
|
64.3
|
Total volumes
delivered
|
|
148.2
|
|
|
146.9
|
|
|
|
|
|
|
Average number of customers (in
thousands)
|
|
|
|
|
|
Residential
|
|
2,086
|
|
|
2,068
|
Commercial and
industrial
|
|
164
|
|
|
162
|
Other
|
|
3
|
|
|
3
|
Transportation
|
|
12
|
|
|
12
|
Total
customers
|
|
2,265
|
|
|
2,245
|
|
|
|
|
|
|
Heating Degree Days
|
|
|
|
|
|
Actual degree
days
|
|
5,699
|
|
|
5,600
|
Normal degree
days
|
|
5,252
|
|
|
5,236
|
Percent colder (warmer)
than normal weather
|
|
9%
|
|
|
7%
|
|
|
|
|
|
|
Statistics by State
|
|
|
|
|
|
Oklahoma
|
|
|
|
|
|
Average number
of customers (in thousands)
|
|
916
|
|
|
908
|
Actual degree
days
|
|
1,985
|
|
|
2,045
|
Normal degree
days
|
|
1,792
|
|
|
1,775
|
Percent colder
(warmer) than normal weather
|
|
11%
|
|
|
15%
|
|
|
|
|
|
|
Kansas
|
|
|
|
|
|
Average number
of customers (in thousands)
|
|
655
|
|
|
651
|
Actual degree
days
|
|
2,532
|
|
|
2,490
|
Normal degree
days
|
|
2,461
|
|
|
2,461
|
Percent colder
(warmer) than normal weather
|
|
3%
|
|
|
1%
|
|
|
|
|
|
|
Texas
|
|
|
|
|
|
Average number
of customers (in thousands)
|
|
694
|
|
|
686
|
Actual degree
days
|
|
1,182
|
|
|
1,065
|
Normal degree
days
|
|
999
|
|
|
1,000
|
Percent colder
(warmer) than normal weather
|
|
18%
|
|
|
7%
|
Analyst Contact:
Brandon Lohse
918-947-7472
Media Contact:
Leah Harper
918-947-7123
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multimedia:https://www.prnewswire.com/news-releases/one-gas-announces-first-quarter-2022-financial-results-affirms-2022-financial-guidance-301537688.html
SOURCE ONE Gas, Inc.