3Q reports coming from ONEOK, Gufport and Chesapeake Energy

United Reports 2023 Second-Quarterly Earnings


Tuesday will be a busy day for some Oklahoma energy companies as they prepare to release their quarterly finance reports.

Among the firms are ONEOK, Gulfport and Chesapeake Energy.

ONEOK will release its report after the market closes on Halloween afternoon, then management will hold a conference call on Nov. 1 to discuss the results. The company is coming off its recent acquisition of Magellan Midstream.

ONEOK also had a 13% increase in net income in the second quarter and a 10% growth in adjusted EBITDA of $971 million.

Gulfport plans to also release its third quarter report following the closing of the market. Executives will hold a conference call Wednesday morning.

The company had $93.7 million in net income and $144.5 million of adjusted EBITDA in the second quarter and its net production was better than anallyst concensus expectations. It also turned 13 gross wells to sales including two in Oklahoma’s SCOOP and 11 in the Utica play.

Chesapeake Energy will follow the same schedule of releasing its report following the close of markets followed by a Wednesday morning conference call.

The company had a busy third quarter, including a $700 million sale of its final Eagle Ford package. Its second quarter results showed $515 million in net cash from operating activities and net income of $391 million or $2.73 per diluted share. Adjjusted net income was $92 million or 64 cents per share.