Exhibit 99.1

logoletterheadb27.jpg
July 27, 2020
 
Analyst Contact:
Brandon Lohse
918-947-7472
 
 
Media Contact:
Leah Harper
918-947-7123
ONE Gas Announces Second Quarter 2020 Financial Results;
Reaffirms 2020 Earnings Guidance

TULSA, Okla. - July 27, 2020 - ONE Gas, Inc. (NYSE: OGS) today announced its second quarter 2020 financial results, reaffirmed its 2020 earnings guidance and updated its expectation for capital expenditures and asset removal costs in 2020.
        
2020 FINANCIAL GUIDANCE

ONE Gas reaffirmed its 2020 earnings guidance issued Jan. 21, 2020, with net income expected to be in the range of $186 million to $198 million, with a midpoint of $192 million, or $3.44 to $3.68 per diluted share, with a midpoint of $3.56 per diluted share.

Capital expenditures, including asset removal costs, are now expected to be in the range of $500 million to $525 million for 2020, up from $475 million. The increase is driven primarily by extension of service to new customers.

SECOND QUARTER HIGHLIGHTS
    
"During the second quarter, we remained focused on operating our systems safely and protecting our workforce and customers during this pandemic," said Pierce H. Norton II, president and chief executive officer. "We continued to see the positive impact from customer growth and new rates. Looking ahead, we are well positioned to execute on our proven strategy of modernizing our infrastructure and providing clean, reliable natural gas to our customers."

Second quarter 2020 net income was $25.3 million, or $0.48 per diluted share, compared with $24.5 million, or $0.46 per diluted share, in the second quarter 2019;
Year to date 2020 net income was $117.0 million, or $2.20 per diluted share, compared with $118.1 million, or $2.22 per diluted share, in the same period last year;
Actual heating degree days across the company's service areas were 775 in the second quarter 2020, 22% colder than normal and 33% colder than the same period last year;
In April 2020, ONE Gas issued $300 million of 2.00% senior notes due 2030. The proceeds from the issuance were used to reduce the amount of outstanding commercial paper and for general corporate purposes.
The company ended the quarter with $230.5 million of commercial paper and $1.2 million in letters of credit outstanding, leaving $468.3 million available in its commercial paper program and $250 million under its 364-day credit agreement; and

-more-

The following information was filed by One Gas, Inc. (OGS) on Monday, July 27, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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