OGE Energy Corp. provides impact of Enable 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
This impairment does not change the Company's stated long-term utility growth rate or plans for dividend growth through 2019.
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Media Contact: Kathleen O'Shea (405) 553-3395, Financial Contact: Todd Tidwell (405) 553-3966