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Industry Brief

The Federal Energy Regulatory Commission (FERC) has authorized the transfer of certain natural gas distribution facilities in Kansas, Oklahoma and Texas from Oneok Inc. to ONE Gas Inc. as part of a company reorganization (CP13-550-000). The FERC order came three weeks after the board of directors on Wednesday unanimously approved the separation of the company's natural gas distribution business into ONE Gas, a stand-alone, publicly traded company (see Daily GPI, Jan. 8). ONE Gas would consist of Kansas Gas Service, Oklahoma Natural Gas Co. and Texas Gas Service, and be headquartered in Tulsa. It would be one of the largest natural gas utilities in the United States, serving more than two million customers in three states, and a 100% regulated, publicly traded natural gas utility. The plan to spin off the utility business was announced in 2013 (see Daily GPI, July 26, 2013). ONE Gas common stock is expected to begin "regular-way" trading on the New York Stock Exchange (NYSE) on Monday (Feb. 3) under the symbol "OGS."

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