ONEOK’s Revenue Breakdown by Category (2018-2021)

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This statistic highlights ONEOK’s Revenue Breakdown by Category from Q1 2018 onwards, split between gathering, processing and exchange services revenue, NGL and condensate sales, residue natural gas sales and transportation categories.
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This statistic highlights ONEOK’s Revenue Breakdown by Category from Q1 2018 onwards, split between gathering, processing and exchange services revenue, NGL and condensate sales, residue natural gas sales and transportation categories.

ONEOK’S Revenue Breakdown By Category

Category  Q3 2020  Q2 2021 Q3 2021 Revenue mix of Q3 2021
Gathering, processing, and exchange services revenue $168.67 $163.76 $168.97 3.14%
NGL and condensate sales $1,897.93 $3,395.99 $4,669.07 86.82%
Residue natural gas sales $182.49 $257.81 $370.28 6.89%
Transportation and storage revenue $152.82 $150.20 $160.76 2.99%
other $7.01 $7.62 $8.96 0.17%
Total $2,408.92 $3,975.37 $5,378.04 100.00%

(All figures are in millions except percentages)

The total revenue of the company rose from $2,408.92 million in Q3 2020 to $5,378.04 million in Q3 2021 indicating an increase of 123% on a year-on-year basis. The revenue of $3.975 million in Q2 2021 was higher as compared to Q3 2020, given the growth of 65% in the former.

Gathering, processing, and exchange services revenue

They operate an integrated, dependable, and diversified network of NGL and natural gas gathering, processing, division, storehouse, and transportation of means connecting force in the Mid-Continent, Permian regions, and Rocky Mountain with key market centers.

This category has a contribution of 3.14% in total revenue of the company marking a  growth of $0.3 million from $168.67 in Q3 2020 to $168.97 million in Q3 2021 and  $5.21 million on a quarterly basis.

NGL and condensate sales

NGLs and their products are collected, fractionated (purified), treated, stored, and distributed by this section. Commodity price variations affect this category. Physical forward contracts enable the corporation to sell products at pre-determined prices, reducing the impact of price volatility.

The category has earned the revenue of $4,669 million in Q3 2021 and contributed 86.82% to the total revenue of the company as compared to $1,897 million in Q3 2020. Due to reduced manufacturing, earnings in Q3 2020 were low. Q3 2021 earnings were 37.5 percent higher than Q2 2021 earnings due to increased production in locations such as the Rocky Mountain and Permian Basin.

Residue natural gas sales

Residue natural gas has shown an increase of $187.79 million from $182.49 million in Q3 2020 to $370.28 million in Q3 2021 on a YOY basis having a contribution of 6.89% in the total revenue of the company. It also rose from $112.47 million on a quarterly basis.

Reused natural gas is also recompressed and delivered to natural gas channels, storehouse installations, and end- druggies. The NGLs separated from the raw natural gas are vented and delivered through NGL channels to different installations for further processing.

Transportation and storage revenue

This category has a contribution of 2.99% in total revenue of the company marking a growth of $7.94 million on a YOY basis and $10.56 million on a quarterly basis. The leftover gas, which is mostly methane, is compressed and transferred to natural gas pipelines for delivery to end consumers.

When natural gas liquids (NGLs) are separated from raw natural gas at processing plants, they are in the form of a mixed, unfractionated NGL channel that’s delivered to natural gas liquids gathering pipelines for transportation to natural gas liquids fractionators

Others

The company owns a 17-story office building (ONEOK Plaza) and a parking garage in downtown Tulsa, Oklahoma, where their headquarters are located. The company leases excess office space to others and operates its headquarters office building. It owns and operates a parking garage adjacent to its headquarters.

This category has a contribution of 0.17% of its total revenue. It has shown an increase of $1.95 million on a YOY basis as compared to Q3 2020. It also grew by 17.5% on a QOQ basis.

About the company

ONEOK, Inc. is a U.S.-based midstream service provider. It was established in 1906. Natural gas and natural gas liquids are collected, processed, stored, and transported by the corporation. The company was first incorporated as Oklahoma Natural Gas Company but changed its name to ONEOK in 1980. It is an American diversified corporation focused primarily on the natural gas industry and headquartered in Tulsa, the company is a Fortune 500 company and also features on the S&P 500.

It connects abundant supply basins with key market centres. Its business segments provide customers with safe, dependable energy and services. It owns and operates one of the country’s most advanced natural gas liquids (NGL) systems, as well as being a leader in natural gas gathering, processing, storage, and transportation. In the Mid-Continent, Williston, Permian, and Rocky Mountain regions, ONEOK operates a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators, and storage facilities.

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