|February 25, 2021||Analyst Contact:||Brandon Lohse|
|Media Contact:||Leah Harper|
ONE Gas Announces 2020 Financial Results; Addresses February Winter Weather Event; and Affirms 2021 Financial Guidance
Analysts’ call and webcast scheduled tomorrow, Feb. 26, at 11 a.m. EST
TULSA, Okla. - Feb. 25, 2021 - ONE Gas, Inc. (NYSE: OGS) today announced its fourth quarter and full year 2020 financial results, which included diluted earnings per share of $1.09 and $3.68, respectively.
"While we are pleased to close out 2020 on a positive note, we are mindful of the far-reaching impact of the recent winter storm," said Pierce H. Norton II, president and chief executive officer. "Our employees showed unwavering resilience in responding to the challenges presented by the intensity and duration of the winter storm. Thanks to their efforts, we had very few outages across our system and were able to continue our focus on delivering natural gas service safely and reliably to our 2.2 million customers."
FEBRUARY 2021 WINTER WEATHER EVENT
Earlier this month, a historic winter storm impacted supply, demand and market pricing for natural gas in ONE Gas service territories, which includes areas of Kansas, Oklahoma and Texas. Impacts include:
•The governors of a number of states, including Kansas, Oklahoma, and Texas, declared a state of emergency, and certain regulatory agencies issued emergency orders that impacted the utility and natural gas industries, including statewide utilities curtailment programs and orders requiring jurisdictional natural gas and electric utilities to do all things possible and necessary to ensure that natural gas and electricity utility services continue to be provided to their customers;
•Due to the historic nature of this unprecedented weather event, ONE Gas experienced unforeseeable and unprecedented market pricing for natural gas costs in its Kansas, Oklahoma, and Texas jurisdictions, which resulted in aggregated natural gas purchases for the month of February of approximately $2.2 billion. These purchases are generally payable at the end of March 2021;
•As noted in the company's 8-K filing on Feb. 22, 2021, ONE Gas entered into a two-year term loan facility, which provides for a $2.5 billion unsecured term loan. Proceeds of the
The following information was filed by One Gas, Inc. (OGS) on Thursday, February 25, 2021 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.