Further, regulation may impact the period in which revenues or expenses are recognized.

Other factors could also have material adverse effects on our future results.

Regulatory - Several regulatory initiatives impacted the earnings and future earnings potential of our business.

For example, there is a risk that financial institutions may be required to adopt policies that have the effect of reducing the funding provided to the fossil fuel sector.

With the trend toward stricter standards, greater regulation and more extensive permit requirements for the types of assets operated by us, our environmental expenditures could increase in the future, and such expenditures may not be fully recovered by insurance or recoverable in rates from our customers, and those costs may adversely affect our financial condition, results of operations and cash flows.

Discontinuing the application of this method of accounting for regulatory assets and liabilities could significantly increase our operating expenses, as fewer costs would likely be capitalized or deferred on the balance sheet, which could reduce our net income.

Failure to comply with these requirements may result in substantial fines or other penalties, including (in certain cases) the revocation of necessary permits.

Should recovery cease due to regulatory actions, certain of these assets may no longer meet the criteria for recognition and accordingly, a write-off of regulatory assets and stranded costs may be required.

We believe that the combination of the significant residential component of our customer base, the fixed-charge component of our natural gas sales revenues and our rate mechanisms that we have in place result in a stable cash flow profile and historically has generated stable earnings.

RNG and hydrogen technologies offer potential opportunities to secure lower-carbon supply sources that could be transported on our pipeline system and potentially reduce the carbon intensity of the product we deliver.

These strategies include: (1) developing and maintaining an accurate greenhouse gas emissions inventory according to current rules issued by the EPA; (2) monitoring and improving the integrity of our pipelines; (3) reducing operational emissions through the implementation of advanced leak detection technology and damage prevention programs; (4) promoting end-use conservation through programs that incentivize the use of high-efficiency equipment; and (5) increased utilization of CNG for vehicles.

The intensity for the distribution sector, which includes us, was 0.113 percent, beating the 2021 goal of 0.225 percent by 50 percent.

We exceeded our goal by achieving an overall replacement rate greater than two percent annually every year from 2016 through 2021 and anticipate reporting on our 2022 progress in 2023.In September 2020, we announced membership in ONE Future, a group of natural gas companies working together to voluntarily reduce methane emissions across the natural gas value chain to one percent or less by 2025.

We are able to recover the fuel-related portion of bad debts through our purchased-gas cost adjustment mechanisms.38

Pursuant to its tariff, Oklahoma Natural Gas placed new rates into effect on July 13, 2022, reflecting a base rate revenue increase of $19.6 million.

Therefore, although our revenues will fluctuate with the cost of natural gas that we pass-through to our customers, operating income is not affected by fluctuations in the cost of natural gas.2022 vs. 2021 - Operating income increased $39.7 million due primarily to the following:•an increase of $58.7 million from new rates;•an increase of $7.0 million in residential sales due primarily to net customer growth; and•a decrease of $3.1 million in bad debt expense.

Accordingly, the weather can have either a positive or negative impact on our financial performance.

ONE Gas, Inc. is a stand-alone, 100 percent regulated, publicly traded natural gas utility and is one of the largest natural gas utilities in the United States. ONE Gas provides natural gas distribution services to more than 2 million customers in Oklahoma, Kansas and Texas. Headquartered in Tulsa, Oklahoma, it comprises three operating companies–Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. Its service territory covers most of Oklahoma, much of the eastern half of Kansas, and several disparate portions of Texas.

ONE Gas, Inc. operates as a regulated natural gas distribution utility company in the United States. The company operates in three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It provides natural gas distribution services to 2.2 million customers in three states. The company serves residential, commercial and industrial, transportation and wholesale, and public authority customers. As of December 31, 2018, it operated approximately 40,300 miles of distribution mains; and 2,600 miles of transmission pipelines, as well as had 48.4 billion cubic feet of natural gas storage capacity. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.

ONE Gas (OGS) makes a strong case for investment, given its growth prospects, capability to increase shareholders' value and strong ROE.

Here's Why You Should Add ONE Gas (OGS) to Your Portfolio Now

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