Profile: OGE Energy Corp (OGE.N)

OGE.N on New York Stock Exchange

34.81USD
19 Dec 2014
Price Change (% chg)

$-0.21 (-0.60%)
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$39.28
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OGE Energy Corp. (OGE Energy), incorporated on August 4, 1995, is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company conducts these activities through four business segments: electric utility, natural gas transportation and storage, and natural gas gathering and processing. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are conducted through Oklahoma Gas and Electric Company (OG&E). OG&E is the electric utility in Oklahoma and its franchised service territory includes the Fort Smith, Arkansas area. OGE Enogex Holdings, LLC (Enogex) is a provider of integrated natural gas midstream services. Enogex is engaged in the business of gathering, processing, transporting and storing natural gas. As of December 31, 2012, OGE Energy indirectly owns a 79.9% membership interest in Enogex Holdings, which in turn owns all of the membership interests in Enogex LLC.

Electric Operations-OG&E

The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are conducted through OG&E. OG&E furnishes retail electric service in 268 communities and their contiguous rural and suburban areas. As of December 31, 2012, one other communities and two rural electric cooperatives in Oklahoma and western Arkansas purchased electricity from OG&E for resale. The service area covers 30,000 square miles in Oklahoma and western Arkansas, including Oklahoma City, and Fort Smith, Arkansas. Of the 268communities that OG&E serves, 242 are located in Oklahoma and 26 in Arkansas. During the year ended December 31, 2012, OG&E derived 90 % of its total electric operating revenues in from sales in Oklahoma and the remainder from sales in Arkansas. OG&E offers alternate customer programs and rate options. OG&E also has two rate classes, Public Schools-Demand and Public Schools Non-Demand. During 2012, 52% of the OG&E-generated energy was produced by coal-fired units, 42% by natural gas-fired units and 6% by wind-powered units.

As of December 31, 2012, OG&E's wind power portfolio includes 120 mega watts (MW) Centennial wind farm, the OU Spirit wind farm, the 227.5 MW Crossroads wind farm, access to up to50 mega-watts of electricity generated at a wind farm near Woodward, Oklahoma from a 15-year contract OG&E entered into with FPL Energy, access to up to 150 mega-watts of electricity generated at a wind farm in Woodward County, Oklahoma, and access to up to 130 mega-watts of electricity generated at a wind farm in Woodward County, Oklahoma.

Natural Gas Midstream Operations-Enogex

Enogex is a provider of integrated natural gas midstream services. Enogex is engaged in the business of gathering, processing, transporting, storing and marketing natural gas. Enogex's operations are organized into two business segments: natural gas transportation and storage, and natural gas gathering and processing. During 2012, Enogex owned and operated approximately 2,284 miles of intrastate natural gas transportation pipelines in Oklahoma with 1.94 trillion British thermal units per day of average daily throughput. Enogex also owns and operates two underground natural gas storage facilities in Oklahoma operating at a combined working gas level of 24 billion cubic feet. Enogex provides fee-based firm and interruptible transportation services on both an intrastate basis.

Enogex delivers natural gas to interstate and intrastate pipelines and end-users connected to its systems from the Arkoma and Anadarko basins. As of December 31, 2012, Enogex was connected to 13 third-party natural gas pipelines and had 63 interconnect points. These interconnections include Panhandle Eastern Pipe Line, Southern Star Central Gas Pipeline, Natural Gas Pipeline Company of America, Oneok Gas Transmission, Northern Natural Gas Company, ANR Pipeline, Western Farmers Electric Cooperative, CenterPoint Energy Gas Transmission Co., El Paso Natural Gas Pipeline, Postrock KPC Pipeline, LLC, Ozark Gas Transmission, L.L.C., Gulf Crossings Pipeline Company LLC and Midcontinent Express Pipeline, LLC (MEP). Enogex is connected to 37 end-user customers, including 15 natural gas-fired electric generation facilities in Oklahoma.

Enogex owns and operates two underground natural gas storage facilities in Oklahoma operating at a combined working gas level of 24 billion cubic feet with 650 million cubic feet per day of maximum capacity and 650 million cubic feet per day of injection capacity. Enogex offers both fee-based firm and interruptible storage services. Enogex's transportation customers are OG&E and Public Service Company of Oklahoma (PSO).

Natural Gas Gathering and Processing

Enogex provides well connect, gathering, measurement, treating, dehydration, compression and processing services for types of producing wells owned by producers who are active in the areas, in which Enogex operates. Natural gas produced in association with crude oil contains concentrations of natural gas liquids (NGLs) than natural gas produced from gas wells. The residue gas remaining after the liquid products have been extracted consists of methane and ethane. During 2012, Enogex's gathering system included approximately 6,640 miles of intrastate natural gas gathering pipelines in Oklahoma and Texas with 1.41 trillion British thermal units per day of average daily gathered volumes. Enogex owns and operates eight natural gas processing plants, with a current total inlet capacity of 1,305 million cubic feet per day and has contracted to have access to up to 90 million cubic feet per day of capacity in three third-party plants. During 2011, Enogex extracted and sold 867 million gallons of NGLs. Enogex also has a 50% interest in Atoka, which operated a 20 million cubic feet per day refrigeration processing plant, which processed gas gathered in the Atoka area. Enogex gathers and processes natural gas pursuant to a range of arrangements categorized as fee-based, percent-of-proceeds, percent-of-liquids and keep-whole arrangements. Enogex's NGLs are sold to NGLs marketers and end-users, its condensate liquid production is sold to marketers and refineries and its propane is sold in the local market to wholesale distributors.

The Company competes with Access Midstream Partners, L.P., Crosstex Energy LP, DCP Midstream Partners, LP, Enbridge Energy Partners, L.P., MarkWest Energy Partners, L.P. and Oneok Partners, L.P.

Company Address

OGE Energy Corp

321 N HARVEY,
P.O. Box 321
OKLAHOMA CITY   OK   73101-0321
P: +1405.5533000

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