"We remain focused on executing our business strategy, anchored by system reinforcements and a continued expansion of core capabilities to meet the growing needs of our service territories," said CEO Robert McAnnally. "While rapidly altered macroeconomic conditions momentarily accentuate the lag inherent in our 100% regulated model, we remain well positioned to successfully execute our long-term strategic plan by capitalizing on organic growth opportunities, ensuring system reliability and progressing toward our clean energy goals." Capital investments, including asset removal costs, are expected to be approximately $675M in 2023, primarily targeted for system integrity and replacement projects. Capital investments for extensions to new customers are expected to be approximately $185M, primarily as a result of continued growth opportunities in Texas and Oklahoma. The anticipated average rate base for 2023 is $5.15B, calculated consistent with utility ratemaking in each jurisdiction.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on OGS:
