Barclays on Energy: Highlights From Meeting with ONEOK Management - Is Production Really Declining?
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Price: $47.15 -0.86%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Barclays on Energy: Highlights From Meeting with ONEOK Management
Analyst, Richard Gross, met with ONEOK (NYSE: OKE) management, including Terry Spencer (President of OKE and ONEOK Partners (NYSE: OKS)), Rob Martinovich (CFO) and Andrew Ziola (Manager of Investor Relations). A key takeaway that Gross learned was the fact that ONEOK hasn't seen rig declines in the Bakken (shale) and other oil plays that it serves. In fact, management implies that they continue to see increased production in efforts to offset reduced cash flow due to lower pricing.
Three other highlighted points include: 1) Bakken Crude Pipeline will be a Dedicated Pipeline for Bakken and Mid-Continent Producers; 2) Expects NGL Markets to Be Choppy Between Now and 2017; and 3) Cash Distribution and Dividend Outlook Not at Risk at this Juncture.
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Analyst, Richard Gross, met with ONEOK (NYSE: OKE) management, including Terry Spencer (President of OKE and ONEOK Partners (NYSE: OKS)), Rob Martinovich (CFO) and Andrew Ziola (Manager of Investor Relations). A key takeaway that Gross learned was the fact that ONEOK hasn't seen rig declines in the Bakken (shale) and other oil plays that it serves. In fact, management implies that they continue to see increased production in efforts to offset reduced cash flow due to lower pricing.
Three other highlighted points include: 1) Bakken Crude Pipeline will be a Dedicated Pipeline for Bakken and Mid-Continent Producers; 2) Expects NGL Markets to Be Choppy Between Now and 2017; and 3) Cash Distribution and Dividend Outlook Not at Risk at this Juncture.
To see more ratings on OKE, Click Here
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Barclays, Bakken Formation, Dividend, Crude Oil
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