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Oneok OKE Natural Gas Gathering and Processing — Direct Operating Costs

Other segment segments

Refined Products and Crude Oil
$228M+1.8%
Natural Gas Liquids
$208M-1.0%
Natural Gas Pipelines
$60M+15.4%

Similar metrics at other companies

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MPLXNatural Gas & NGL Services — Operating Expenses
$428M-3.8%
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RRCNatural Gas Gathering Transportation Marketing And Processing — Results Of Operations Production Or Lifting Costs
$323.33M+5.6%
Antero Midstream Corporation logo
AMGathering And Compression — Direct Operating Costs
$30.03M+14.6%
Antero Resources logo
ARNatural Gas Gathering And Compression — Cost of Goods Sold
$269.11M+14.0%
Comstock Resources logo
CRKGas Gathering And Transportation Cost
$41.8M-1.9%
Antero Resources logo
ARNatural Gas Gathering Transportation Marketing And Processing — Cost of Goods Sold
$789.11M+13.5%

Other financials

Income statement

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Revenue$9.6B+19.6%
Gross profit$2.6B+7.4%
Operating income$1.4B+17.0%
Net income$774.0M+21.7%
EPS (diluted)$1.23+18.3%

Balance sheet

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Cash & equivalents$172.0M+22.0%
Total debt$32.4B+8.1%
Total equity$22.4B+4.6%
Total assets$68.2B+6.1%

Cash flow

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Operating cash flow$934.0M+3.3%
CapEx$864.0M+37.4%
Free cash flow$70.0M-74.5%

Valuation

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Market cap$56.4B+9.6%
Enterprise value$88.64B+9.0%
P/E16×-1.0×
P/S1.6×-0.5×

Profitability

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Gross margin29.6%-6.0pp
Operating margin16.9%-3.7pp
Net margin10%-2.1pp
FCF margin6.4%-5.9pp

Returns & leverage

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Return on equity16.2%+0.1pp
Debt / equity1.4×0.0×
Current ratio0.7×0.0×

Where this comes from

Reported directly by Oneok in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The official record: Oneok’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Oneok's natural gas gathering and processing — direct operating costs?
Oneok (OKE) reported natural gas gathering and processing — direct operating costs of $245M in Q1 2026.
How has Oneok's natural gas gathering and processing — direct operating costs changed year-over-year?
Oneok's natural gas gathering and processing — direct operating costs decreased by 4.7% year-over-year, from $257M to $245M.
What is the long-term trend for Oneok's natural gas gathering and processing — direct operating costs?
Over 4 years (2021 to 2025), Oneok's natural gas gathering and processing — direct operating costs has grown at a 28.1% compound annual growth rate (CAGR), from $367M to $988M.
What does natural gas gathering and processing — direct operating costs mean?
Represents the recurring operational expenses required to run gathering and processing facilities, including labor, maintenance, utilities, and field operations. These costs are essential for the ongoing functionality of the midstream infrastructure network.