ONE GAS INC.
SEVENTY SEVEN ENERGY INC.
Seventy Seven Energy Inc. on Wednesday reported a fourth-quarter loss of $60.6 million, or $1.18 a share, down from a loss of $9.4 million, or 20 cents a share in the year-ago quarter. Adjusted for one-time expenses, the Oklahoma City oil-field services company recorded a net loss of $32.2 million, or 64 cents a share in the fourth quarter, down from a profit of $7.4 million, or 16 cents a share one year ago.
Revenues were $193 million, down from $495 million in the fourth quarter of 2014. Adjusted earnings before interest, taxes, depreciation and amortization was $56.3 million in the fourth quarter, down from almost $105 million in the year-ago period.
For the full year, the Seventy Seven recorded a loss of $221 million, or $4.42 a share, down from a loss of almost $8 million, or 17 cents a share in 2014. The company reported an adjusted net loss of $155 million, or $3.11 a share, down from an adjusted profit of $16.2 million, or 34 cents a share in 2014.
Revenues were $1.1 billion, down from $2.1 billion one year ago. Full-year adjusted EBITDA was $235 million, down from $432 million in 2014.
TULSA — ONE Gas Inc. reported higher profits in the fourth quarter, with net income at $39.2 million, or 74 cents per diluted share. That compared to net income of $36.6 million, or 69 cents per diluted share, in the fourth quarter of 2014.
Revenue for the fourth quarter was $389 million, down from $514 million reported in the year-earlier quarter. ONE Gas, which operates regulated natural gas utilities in Oklahoma, Texas and Kansas, said its full-year net income was $119 million, or $2.24 per diluted share. That compared to 2014 net income of $109.8 million, or $2.07 per diluted share.
Full-year revenue was $1.54 billion, down from $1.8 billion in 2014.
WILLIAMS COS.
TULSA — Williams Cos. took a pre-tax charge of $2.1 billion in the fourth quarter, sending it to a net loss of $701 million, or a loss of 94 cents per share. That compared to net income of $193 million, or 26 cents per share, in the fourth quarter of 2014.
For the year, Williams reported a net loss of $557 million, or 74 cents per share, compared with net income of $2.1 billion, or $2.92 per diluted share, for 2014.
The company took a $2.54 billion impairment charge for 2015.
WILLIAMS PARTNERS LP
TULSA — Williams Partners LP reported a net loss of $1.6 billion in the fourth quarter after taking an impairment charge of $2.1 billion. The partnership had net income of $382 million in the fourth quarter of 2014.
Williams Partners’ net loss for the year was $1.4 billion, down from net income of $1.18 billion in 2014, although the full-year 2015 results were affected by an impairment charge of $2.6 billion.
“Williams Partners recorded another strong quarter, demonstrating excellent operational performance and the resilience of our business to grow despite sharply lower commodity prices,” said Alan Armstrong, CEO of the partnership’s general partner. “Even with reduced activities in supply areas, the partnership enjoyed continued growth in fee-based revenues primarily from demand-driven projects and expansions brought into service.”
ENLINK MIDSTREAM LLC
EnLink Midstream LLC reported a net loss of $723 million, or $1.18 a share, in the fourth quarter, down from a profit of $75.6 million, or 16 cents a share, in the year-ago quarter.
Revenue was $1.07 billion, up from $1 billion in the year-ago period.
The general partner’s cash available for distribution was $47.8 million in the fourth quarter of 2015 compared to $66.3 million in the fourth quarter of 2014.
For the full year, the company had a net loss of $1.41 billion, or $2.17 a share, down from a profit of $251 million, or 55 cents a share, in 2014.
Revenue was $4.45 billion, up from $3.51 billion one year ago.
The company’s cash available for distribution was $199 million, down from $218 million in 2014.