SOURCE: Industrial Info Resources

February 27, 2009 06:00 ET

Natural Gas Prices Provide Strong 2008 Earnings for ONEOK, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 27, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Natural gas distributor ONEOK Incorporated (NYSE:OKE) has announced that its net income rose from $304.9 million in 2007 to $311.9 million in 2008. Much of the increase in profits was caused by the higher price of natural gas during the first nine months of the year; however, as natural gas prices fell, so did the company's profits. Net income for the last quarter of 2008 was down 34% compared with the same period in 2007.

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