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Oge Energy Corp. (OGE) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Oge Energy Corp.

CIK: 1021635 Ticker: OGE


Exhibit 99.01

OGE Energy Corp. reports earnings for 2014 and outlook for 2015

OKLAHOMA CITY - OGE Energy Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric Company ("OG&E"), and holder of 26.3 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP, today reported earnings of $1.98 per average diluted share in 2014, compared with earnings of $1.94 per average diluted share in 2013.

In 2014, OG&E, a regulated electric utility, reported net income of $292 million and contributed $1.46 per diluted share, compared with $293 million, or $1.47 per diluted share in 2013. Enable Midstream issued cash distributions to OGE of approximately $144 million and contributed earnings of $102 million, or $0.51 per diluted share in 2014, compared to earnings of $100 million, or $0.50 per diluted share in 2013. The holding company posted earnings of $0.01 per diluted share in 2014, compared to a loss of $.03 per share in 2013. The loss at the holding company in 2013 was primarily associated with the transaction costs associated with the formation of Enable Midstream Partners.

“We’re pleased to report another year of solid financial and operating performance,” said OGE Energy Corp. Chairman and CEO Pete Delaney. “The utility ranks very high in customer satisfaction surveys. We continue to control our costs and invest to improve the quality of service to our customers. Our cash distributions from Enable will continue to support our 10% dividend growth rate, our environmental compliance plan and other key programs.”

Fourth Quarter results
For the three months ended Dec. 31, 2014, OGE Energy reported earnings of $0.29 per diluted share, compared with $0.29 per diluted share in the fourth quarter of 2013.

Discussion of 2014 results

OGE Energy reported consolidated gross margin of $1.3 billion in 2014, compared with $1.4 billion in 2013. Operating income was $537 million in 2014, compared with $554 million in 2013. Net income was $396 million in 2014, compared with $388 million in 2013.

OG&E reported gross margin of $1.3 billion in 2014, which was approximately $50 million higher than 2013. Though gross margin was higher year-over-year driven primarily by transmission revenues and customer growth, it was negatively impacted by mild summer weather. Offsetting the slight increase in gross margin were higher depreciation expenses and higher operating and interest expenses in 2014 as compared to 2013. As a result, OG&E's net income decreased by $1 million from $293 million in 2013 to $292 million in 2014.
 
Natural Gas Midstream Operations earnings contributed to OGE were $102 million for 2014 compared to $100 million in 2013. Offsetting the higher, year over year margins was a one-time benefit of approximately $21 million resulting from the formation of the Enable Midstream partnership in 2013.

2015 Outlook
OG&E is projected to earn $1.41 to $1.49 per average diluted share. Cash distributions from Enable Midstream Partners are expected to be between $139 million and $142 million.  Additionally, OGE Energy consolidated earnings guidance for 2015 is $1.76 to $1.89 per average diluted share. The guidance assumes approximately 200 million average diluted shares outstanding and normal weather for the year.  More


The following information was filed by Oge Energy Corp. (OGE) on Thursday, February 26, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statements Of Capitalization
Consolidated Statements Of Capitalization (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income Parenthetical
Consolidated Statements Of Income
Accounting Pronouncement
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Common Equity
Common Equity (tables)
Common Equity Automatic Dividend Reinvestment And Stock Purchase Plan (details)
Common Equity Earnings Per Share (details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (tables)
Derivative Instruments And Hedging Activities, Income Statement Presentation Related To Derivative Instruments (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements Carrying And Fair Value Amounts (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Investment In Unconsolidated Affiliate And Related Party Transactions
Investment In Unconsolidated Affiliate And Related Party Transactions (details)
Investment In Unconsolidated Affiliate And Related Party Transactions (tables)
Investment In Unconsolidated Affiliate And Related Party Transactions Reconciliation Of Equity In Earnings Of Unconsolidated Affiliates (details)
Investment In Unconsolidated Affiliate And Related Party Transactions Related Party Transactions (details)
Investment In Unconsolidated Affiliate And Related Party Transactions Summarized Balance Sheet Information Of Equity Method Investment (details)
Investment In Unconsolidated Affiliate And Related Party Transactions Summarized Income Statement Of Equity Method Investment (details)
Long-term Debt
Long-term Debt (details)
Long-term Debt (tables)
Quarterly Financial Data
Quarterly Financial Data (details)
Quarterly Financial Data (tables)
Rate Matters And Regulation
Rate Matters And Regulation (details)
Report Of Business Segments
Report Of Business Segments (details)
Report Of Business Segments (tables)
Retirement Plans And Postretirement Benefit Plans
Retirement Plans And Postretirement Benefit Plans (details)
Retirement Plans And Postretirement Benefit Plans (tables)
Retirement Plans And Postretirement Benefit Plans Postretirement Benefit Plans (details)
Schedule Ii
Schedule Ii (details)
Schedule Ii (tables)
Short-term Debt And Credit Facilities
Short-term Debt And Credit Facilities (details)
Short-term Debt And Credit Facilities (tables)
Stock Based Compensation
Stock Based Compensation (details)
Stock Based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Accounting Records (details)
Summary Of Significant Accounting Policies Accumulated Other Comprehensive Income (loss) (details)
Summary Of Significant Accounting Policies Allowance For Funds Used During Construction (details)
Summary Of Significant Accounting Policies Allowance For Uncollectible Accounts Receivable (details)
Summary Of Significant Accounting Policies Asset Retirement Obligation (details)
Summary Of Significant Accounting Policies Depreciation And Amortization (details)
Summary Of Significant Accounting Policies Enviromental Costs (details)
Summary Of Significant Accounting Policies Equity Ownership (details)
Summary Of Significant Accounting Policies Fuel Inventories (details)
Summary Of Significant Accounting Policies Property, Plant And Equipment (details)
Summary Of Significant Accounting Policies Regulated Operations (details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: OGE
CIK: 1021635
Form Type: 10-K Annual Report
Accession Number: 0001021635-15-000020
Submitted to the SEC: Thu Feb 26 2015 8:09:05 AM EST
Accepted by the SEC: Thu Feb 26 2015
Period: Wednesday, December 31, 2014
Industry: Electric Services

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