Company Overview of Oklahoma Gas and Electric Company
Oklahoma Gas and Electric Company generates, transmits, distributes, and sells electric energy in Oklahoma and western Arkansas. It owns and operates coal-fired, natural gas-fired, and wind-powered generating facilities. As of December 31, 2011, the company owned and operated an interconnected electric generation, transmission, and distribution system, which included 12 generating stations with an aggregate capability of 6,790 megawatts. Its transmission system included 51 substations with a total capacity of 11.5 million kilovolt-amps (kVA) and 4,258 structure miles of lines in Oklahoma; and 7 substations with a total capacity of 2.4 million kVA and 279 structure miles of lines in Arkansas....
321 North Harvey
P O Box 321
Oklahoma City, OK 73101-0321
Founded in 1902
Key Executives for Oklahoma Gas and Electric Company
Chief Information Officer and Vice President of Strategic Planning & Performance Improvement
Chief Risk Officer and Chief Risk officer of Energy Corp
Compensation as of Fiscal Year 2013.
Oklahoma Gas and Electric Company Key Developments
Oklahoma Gas and Electric Company Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2013; Revises Earnings Guidance for 2013
Aug 8 13
Oklahoma Gas and Electric Company reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported total operating revenues of $734.2 million against $855.0 million a year ago. Operating income was $143.9 million against $177.3 million a year ago. Income before taxes was $126.9 million against $137.5 million a year ago. Net income attributable to the company was $91.7 million or $0.46 per diluted share against $93.9 million or $0.47 per diluted share a year ago.
For the six months, the company reported total operating revenues of $1,635.6 million against $1,695.7 million a year ago. Operating income was $219.3 million against $275.6 million a year ago. Income before taxes was $170.5 million against $203.4 million a year ago. Net income attributable to the company was $114.8 million or $0.58 per diluted share against $131.0 million or $0.66 per diluted share a year ago.
The company's 2013 consolidated earnings guidance remains unchanged between approximately $335 million to $360 million of net income, or $1.68 to $1.80 per average diluted share (adjusted for the stock split). However, the company is projecting earnings to be at the high end of the guidance range based primarily on the accretive impact of the formation of Enable Midstream Partners, partially offset by higher transaction costs associated with the agreement at the holding company.
Oklahoma Gas and Electric Company Extends Five-Year $400 Million Revolving Credit Facility
Aug 2 13
As previously disclosed, in December 2011, Oklahoma Gas and Electric Company entered into a five-year $400 million revolving credit facility. The facility contains an option, which can be exercised up to two times, to extend the term of the facility for an additional year. Effective July 29, 2013, the company utilized one of those extensions to extend the maturity of its credit facility from December 13, 2016 to December 13, 2017. The terms of the credit facility were otherwise unchanged.
Oklahoma Gas and Electric Appoints Sean Trauschke as President
Jul 17 13
OGE Energy Corp. announced that the company's board of directors has named Sean Trauschke as president of the company's Oklahoma Gas and Electric subsidiary. In addition to his new role, Trauschke will continue to serve as chief financial officer of both OGE Energy and OG&E, positions he has held since April 2009. Delaney had served as president of OG&E since December 2011 when former president Danny Harris retired.
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