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Vrath and Reddy

Research Analyst at JPMorgan Chase & Co.

Vrath and Reddy's questions to ONEOK INC /NEW/ (OKE) leadership

Question · Q3 2025

Vrath and Reddy asked about ONEOK's earnings growth outlook for 2026, inquiring if the previously indicated mid to high single-digit growth rate remains appropriate given current tailwinds and headwinds.

Answer

Sheridan Swords, Executive Vice President and Chief Commercial Officer, identified key tailwinds for 2026 earnings growth, including the full-year impact of synergies from the Easton and Conway NGL to Mid-Continent refined products projects, the Denver expansion, and over 500 million cubic feet per day of new processing capacity coming online through early 2027. He also noted anticipated market share growth in the Permian and other regions.

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