Oklahoma Corporate 2011 Annual Earnings On Fire Under Obama

I found 14 Corporations…..10 Oil and Gas and 4 in Other Industries….. headquartered in Oklahoma, which file with the SEC, and which had Pretax Income or Pretax Loss of more than $100 mil in any of the most recent three fiscal years. 

The 10 Oil and Gas Oklahoma Corps generated Total Pretax Income in 2011 of $12.0 bil, up a robust 30% from 2010, and up an even more robust 104% from 2009.

The 4 Non-Oil and Gas Oklahoma Corps generated Total Pretax Income in 2011 of $1.2 bil, up a robust 27% from 2010, and up an even more robust 98% from 2009.

In deriving Pretax Income, I start with Pretax Income under Generally Accepted Accounting Principles (GAAP), and then exclude several clearly unusual very large items relative to Pretax Income, such as Asset Impairments from the Ceiling Test, and Gains and Losses on both Debt Retirements and Asset Dispositions.

Oklahoma citizens should be proud of the operating performance in the most recent two years of their fine Oklahoma Corporations. 

Clearly, the Obama Administration has created an economic environment that has permitted these Oklahoma Corporations to flat-out flourish. 

Below here is the Pretax Income (PTI) or Pretax Loss (PTL) of these 14 Oklahoma Corps for each of the most recent three years, with the most recent fiscal year ends ranging from September 2011 to December 2011.

					Obama
					Bump
				PTI(L)	PTI(L)
				1 Year	2 Year
	PTI(L)	PTI(L)	PTI(L)	%	%
	2011	2010	2009	Change	Change
	mils $s	mils $s	mils $s
Oklahoma
Oil and Gas
Devon Energy	4,290	3,568	1,882	20%	128%
Chesapeake Energy	2,880	2,884	1,712	0%	68%
Williams Companies	1,473	991	550	49%	168%
OneOK	984	754	687	31%	43%
Continental Resources	687	258	110	166%	525%
Helmerich & Payne	687	438	598	57%	15%
Magellan Midstream Partners	415	313	228	33%	82%
Unit Corp	319	237	193	35%	65%
Sandridge	195	(252)	(75)	177%	360%
GulfPort Energy	108	47	24	130%	350%
Total all 10 Oil and Gas	12,038	9,238	5,909	30%	104%
Non-Oil and Gas
BOK Financial	448	372	311	20%	44%
Alliance Resource Partners	389	323	193	20%	102%
Dollar Thrifty	261	221	81	18%	222%
LSB Industries	130	48	36	171%	261%
Total all 4 Non-Oil and Gas	1,228	964	621	27%	98%
Total all 14	13,266	10,202	6,530	30%	103%