- Co announced that the Kansas Corporation Commission has approved a settlement agreement that allows ONEOK to separate its natural gas distribution business into a stand-alone publicly traded company, ONE Gas, Inc., and authorizes the transfer of ONEOK's existing Kansas natural gas distribution assets, certificates of convenience and necessity, franchises and tariffs to ONE Gas.
- The transaction is expected to close in late January 2014 or early February 2014.
- ONE Gas is expected to be listed on the New York Stock Exchange (OGS).
Around noon today: Feb crude oil pops above $99/barrel... Feb crude is now +1.0% at $98.98/barrel. Comment: I have always enjoyed seeing the word "pop" or "pops" in sentences summarizing the price movement of oil.
PSX traded at a new high today, though profit taking brought it down by the end of the day.