OKLAHOMA CITY, Nov. 4, 2015 /PRNewswire/ -- OGE Energy
Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric
Company ("OG&E"), and holder of 26.3 percent limited partner
interest and 50 percent general partner interest in Enable
Midstream Partners, LP ("Enable"), today reported that earnings for
the third quarter of 2015 will include a non-cash, pretax charge of
$108 million for Enable's goodwill
impairment.
Due to commodity price declines in the crude oil and natural gas
industry, producer activity has decreased in certain regions in
which Enable operates. Based on the decline in producer
activity and the forecasted impact on future periods, in addition
to an increase in the weighted average cost of capital, Enable
recorded a non-cash impairment to goodwill of approximately
$1.1 billion in the third quarter of
2015.
This impairment does not change the Company's stated long-term
utility growth rate or plans for dividend growth through 2019.
OGE Energy Corp. will provide additional information on its
third quarter earnings call on November 5,
2015 at 8 am CST.
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SOURCE OGE Energy Corp.