Overview
ONE Gas, Inc. is a regulated natural-gas distribution utility serving residential, commercial and transportation customers. Its operations are based in Kansas, Oklahoma and Texas, through the divisions Kansas Gas Service, Oklahoma Natural Gas and Texas Gas Service; the company serves approximately 2.3 million customers.[1][2][3]
The company’s stated mission is “to deliver natural gas for a better tomorrow.” [4][5] For the year ended December 31, 2025, ONE Gas reported revenue of $2,427.4 million, and its investor information reports 4,000 employees as of December 31, 2025.[6][7] [1][2][4][6][3][5][7]
Products & services
ONE Gas’s core offering is regulated natural-gas distribution and delivery to residential, commercial, industrial, and transportation customers through Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. Its 2025 Form 10-K reported approximately 2.3 million customers; the divisions served approximately 89% of natural-gas distribution customers in Oklahoma, 72% in Kansas, and 13% in Texas. These figures describe customer coverage, not the share of company performance attributable to different products.[2]
The service is billed through monthly fixed customer charges and variable charges based on delivered and billed gas volumes; gas costs are recovered through regulatory mechanisms. The available sources describe natural-gas distribution rather than separately named products or technical specifications.[8] [2][8]
Geographic presence
ONE Gas’s regulated natural-gas distribution operations are concentrated in Oklahoma, Kansas, and Texas, through Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. The company’s largest customer markets include Oklahoma City and Tulsa; Kansas City, Wichita, and Topeka; and Austin and El Paso. Its divisions serve approximately 89% of Oklahoma’s, 72% of Kansas’s, and 13% of Texas’s distribution customers.[9][2]
For FY2025, average customers were approximately 931,000 in Oklahoma, 653,000 in Kansas, and 711,000 in Texas, or 2.295 million in total.[10] ONE Gas is headquartered in Tulsa, Oklahoma. Its 2025 company information lists approximate division headcounts of 2,000 at Oklahoma Natural Gas and 1,000 each at Kansas Gas Service and Texas Gas Service.[1][11][12] The company reports one business segment; the cited 2025 Form 10-K does not provide state-level revenue figures.[13][14] [9][2][10][10][10][10][1][11][13][12][14]
Business segments
ONE Gas reports one reportable segment, “regulated public utilities,” comprising regulated natural-gas distribution to residential, commercial and transportation customers. Oklahoma, Kansas and Texas are operating divisions or service areas, not separately reported segments; management evaluates the distribution business as a whole.[13]
For FY2025, the sole segment represented all consolidated results: revenue of $2,427.4 million, operating income of $457.4 million and net income of $264.2 million.[6]
As an indication of geographic scale—not a separate segment revenue breakdown—average FY2025 customers were approximately 931,000 in Oklahoma (40.6%), 653,000 in Kansas (28.5%) and 711,000 in Texas (31.0%). The company does not report revenue or operating income separately for these areas.[10] [13][6][6][6][10][10][10][10]
Company history
ONE Gas traces its roots to Oklahoma Natural Gas Company, founded in 1906; the predecessor became ONEOK in 1980.[1] In July 2013, ONEOK announced plans to separate its natural-gas distribution business into a new publicly traded company, ONE Gas.[15] ONEOK completed the spin-off on January 31, 2014, distributing ONE Gas shares to its shareholders; ONE Gas began standalone operations and regular-way trading on the New York Stock Exchange on February 3.[16][17] In 2021, Robert S. “Sid” McAnnally succeeded Pierce H. Norton II as president and CEO, effective June 28.[18] [1][15][16][17][18]
Sources
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