oge8k050610.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported)
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May
6, 2010
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OGE
ENERGY CORP.
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(Exact
Name of Registrant as Specified in Its Charter)
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Oklahoma
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(State
or Other Jurisdiction of Incorporation)
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1-12579
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73-1481638
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(Commission
File Number)
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(IRS
Employer Identification No.)
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321
North Harvey, P.O. Box 321, Oklahoma City, Oklahoma
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73101-0321
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(Address
of Principal Executive Offices)
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(Zip
Code)
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405-553-3000
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(Registrant’s
Telephone Number, Including Area Code)
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(Former
Name or Former Address, if Changed Since Last Report)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17
CFR 240.14d-2(b))
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o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17
CFR 240.13e-4(c))
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Item
2.02. Results of Operations and Financial Condition
OGE
Energy Corp. (the “Company”) is the parent company of Oklahoma Gas and Electric
Company (“OG&E”), a regulated electric utility with approximately 779,000
customers in Oklahoma and western Arkansas, and Enogex LLC and its subsidiaries
(“Enogex”), a midstream natural gas pipeline business with principal operations
in Oklahoma.
On May 6,
2010, the Company issued a press release describing the Company’s consolidated
financial results for the quarter ended March 31, 2010, which is furnished as
Exhibit 99.01 and incorporated herein by reference. As described in
the press release, the Company reported earnings of $0.25 per diluted share for
the quarter ended March 31, 2010 compared to $0.18 per diluted share for the
quarter ended March 31, 2009. Earnings were higher primarily due to a
higher gross margin at OG&E primarily due to colder weather in OG&E’s
service territory and higher electric rates partially offset by higher operating
expenses. Earnings at Enogex were higher primarily due to higher
natural gas liquids prices and record natural gas gathering and processing
volumes in March on Enogex’s system. Consolidated results for the
quarter ended March 31, 2010 also included a one-time charge of approximately
$11.4 million, or $0.11 per diluted share, to write off previously recognized
tax benefits relating to Medicare Part D subsidies affected by the recently
signed health care legislation.
OG&E
posted earnings of $0.01 per diluted share in both the first quarter of 2010 and
the first quarter of 2009. Enogex posted earnings of $0.28 per
diluted share in the first quarter of 2010 as compared to $0.16 per diluted
share in the first quarter of 2009. The holding company, including
results from its marketing business, posted a loss of $0.04 per diluted share in
the first quarter of 2010 as compared to earnings of approximately $0.01 per
diluted share in the first quarter of 2009. For further information, see the
press release attached as Exhibit 99.01.
Item
9.01. Financial Statements and Exhibits
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(d)
Exhibits
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Exhibit
Number
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Description
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99.01
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Press
release dated May 6, 2010, announcing OGE Energy Corp. announces solid
1st
quarter results.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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OGE
ENERGY CORP.
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(Registrant)
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By:
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/s/
Scott Forbes
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Scott
Forbes
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Controller
and Chief Accounting Officer
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May 6,
2010