Earnings for Williams, ONE Gas grow in 2022

Earnings for Williams, ONE Gas grow

Earnings for Tulsa-based energy company Williams grew 35% in 2022 compared to the year previous.

Net income for the firm was $2.04 billion, or $1.67 per diluted share, compared to $1.51 billion, or $1.24 per diluted share, in 2021.

For the fourth quarter of 2022, the company’s net income rose 10.7%. Quarter earnings were $688 million, or 55 cents per diluted share, compared to $621 million, or 51 cents per diluted share, over the same period a year ago.

“Williams finished the year strong with 20% adjusted EBITDA growth in the fourth quarter, driven by our core business, upstream JVs (joint ventures) and commodity marketing segment,” Alan Armstrong, Williams president and CEO, said in a statement. “Our natural gas-focused strategy once again resulted in record performance in 2022 with contracted transmission capacity, gathering volumes and adjusted EBITDA all surpassing previous highs. Despite macroeconomic impacts of inflation, higher interest rates and recession risks, Williams delivered outstanding results that exceeded our financial guidance, even after we raised it twice during the year.”

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Armstrong said Williams also reached agreements on three acquisitions that bolster its ability to deliver growth through a variety of macroeconomic conditions.

“We significantly expanded our footprint with the strategic acquisitions of NorTex Midstream and Trace Midstream’s Haynesville assets, a key link in our Gulf Coast wellhead-to-water strategy,” the Williams CEO said. “And just last week, we closed on our acquisition of MountainWest, enhancing our asset footprint in the western U.S. and growing our fully contracted demand based services. These investments along with our slate of high-return growth opportunities along our existing infrastructure give us a clear path to significant growth for years to come.”

Hospitality workers recognized

Several hospitality employees from Tulsa were honored this past week for their outstanding service.

Michelle Iverson, of The Ambassador Hotel in Tulsa, took home the Heart of Hospitality award. Kevin Kihle, of Hotel Indigo in Tulsa, won Outstand Food & Beverage Employee of the Year, and Tulsi Patel, of the Hyatt Regency in Tulsa, was named Outstanding Lodging Employee of the Year (large property).

They were recognized at the Oklahoma Hotel & Lodging Association’s Annual Stars of the Industry Awards at River Spirit Casino Resort. Each honoree was nominated by the owners, general managers or human resource departments of the recipients property.

All told, 45 nominees from properties of all sizes were nominated in 10 categories. Each honoree was nominated by the owners, general managers or human resource departments of the recipient’s property.

Local construction firm takes on Thackerville project

Tulsa-based Manhattan Construction Co. will be the contractor for a new events arena at WinStar World Casino and Resort in Thackerville.

This past week, officials with Indianapolis-based Lucas Oil Products and WinStar announced a partnership that includes the naming rights for the new 6,500-seat arena called Lucas Oil Live, which is expected to open later this year.

“The Lucas Oil Live venue enhances the resort experience for our patrons and music fans alike as we welcome back live entertainment,” Jack Parkinson, WinStar World Casino and Resort general manager, said in a statement. “Our guests will be able to enjoy an electric atmosphere in a venue that’s almost twice the capacity of our previous venue and offers added amenities that enhance the live entertainment experience. The sound and technical capabilities of this new venue enable us to continue attracting the industry’s most popular entertainers.”

The 250,000-square-foot Lucas Oil Live will replace Global Event Center as the casino-resort’s primary indoor concert venue. The Global Event Center was renovated in 2022 into a non-smoking gaming destination in the Rome Gaming Plaza.

Tulsa Route 66 Commission to host workshop

The Tulsa Route 66 Commission will host a free workshop this week for businesses and people interested in learning more about Route 66-specific grants available locally and nationwide.

The workshop will be held from 11 a.m. to 12:30 p.m. Tuesday via Zoom. A recording of the workshop will be emailed to all attendees. For those who do not have access to a computer, the workshop will be live-streamed in person in Theater No. 3 at Circle Cinema, 10 S. Lewis Ave.

Those interested can go to Tulsa 66 Commission’s Facebook page to register for the workshop.

Topics to be covered at the workshop will include local, state and national Route 66-specific grant programs and funds. Workshop panelists will include Kaisa Barthuli of the National Parks Service, Michelle Barnett with PartnerTulsa, Bill Thomas with the Road Ahead Partnership and the federal Route 66 Centennial Commission, Rhys Martin with the Oklahoma Route 66 Association & Tulsa Route 66 Commission, and Samantha Extance with Tulsa Route 66 Commission and Tulsa Planning Office.

ONE Gas earnings grow

Year-over-year earnings for ONE Gas jumped 7.4% in 2022.

Net income for the Tulsa-based energy company was $221.7 million, or $4.08 per diluted share, compared with $206.4 million, or $3.85 per diluted share, in 2021.

For the fourth quarter of 2022, it reported net income of $67 million, or $1.23 per diluted share, compared with $60.5 million, or $1.12 per diluted share, for the same period a year ago.

On Jan. 24, ONE Gas increased the dividend for the first quarter 2023 by 3 cents to 65 cents per share, or $2.60 per share on an annual basis, payable March 10 to shareholders of record at the close of business on Feb. 24.

“Despite a dynamic macroeconomic environment in 2022, we ended the year squarely on plan,” CEO Robert S. McAnnally said in a statement. “As we look to 2023, we remain focused on safely operating our assets, serving our growing customer base and managing our costs. Our thanks go to our co-workers for their care and steadfast commitment to our customers and the communities we serve.”

Stories by Rhett Morgan, Michael Overall, Curtis Killman and Kevin Canfield

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