TULSA, Okla. (AP) — ONEOK Inc. says it will drop its energy services segment and eliminate 49 positions, mostly in the Tulsa area.
A company spokesman says the 49 employees will be offered positions in other parts of the company or severance benefits.
ONEOK Chairman and CEO John Gibson says the energy services segment no longer fits in the company's long-term strategy.
The Journal Record reports that the energy services segment began in 1995. The company bought and stored natural gas then resold it to customers through the winter. The energy services segment also leased natural gas pipeline and provided services to various natural gas utilities.
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Information from: The Journal Record, http://www.journalrecord.com