Brandon Reddy's questions to ONEOK Inc (OKE) leadership • Q3 2024
Question
Brandon Reddy from JPMorgan Chase & Co. asked for a breakdown of the drivers behind the stand-alone EBITDA guidance increase and inquired about the reasons for lowered expectations for lateral lengths in the Bakken.
Answer
CFO Walter Hulse clarified that the latest $100 million guidance increase was driven by broad strength across ONEOK's base businesses, not asset sales. Sheridan Swords, Executive Vice President, explained the change in lateral length expectations is due to producer-specific drilling plans, with some longer laterals pushed to 2025, but noted this is offset by improved well completion efficiencies.