OGE Energy Corp. (NYSE: OGE), with headquarters in Oklahoma City, is the parent company of Oklahoma Gas and Electric Company (OG&E), a regulated electric utility, and Enogex Inc., a natural gas pipeline business. OGE Energy and its subsidiaries have about 3,100 employees.

Oklahoma Gas and Electric Company serves more than 755,000 retail customers in Oklahoma and western Arkansas, and a number of wholesale customers throughout the region. OG&E, with about 6,100 megawatts of capacity, generates electricity from natural gas, low-sulfur Wyoming coal, and wind. OG&E's electric transmission and distribution systems span 30,000 square miles.

Enogex operates a pipeline system engaged in natural gas gathering, processing, transportation, storage and marketing. The system includes about 7,800 miles of pipe, six processing plants, and 23 billion cubic feet of storage capacity.

OGE Energy Resources conducts the company's energy marketing and related activities. Operating in the national commodities markets for electricity and natural gas, Energy Resources' primary role is to optimize the generation, transmission and pipeline assets of OGE Energy.

ER Mission Statement
It is the mission of OGE Energy Resources to be the customer preferred service provider of premium and reliable energy products by offering integrated solutions in the changing market place.

We plan to fulfill our mission by developing sound strategies and using the same hard-work ethic used for nearly 100 years by our successful parent company, OGE Energy Corp.

Strategy

Our strategies for fulfilling our mission include:

Learning about our customers and understanding their individual energy needs to develop better, more appropriate energy solutions

Defining the market to optimize profitability for both the customer and OGE Energy Resources

Examining variables, such as weather, that might affect the market or create a distinct customer need

Designing and developing new timely energy products and services in response to market and customer demand

Growing our intellectual capital by hiring qualified, innovative individuals

Developing new skills to compete in the changing market

Utilizing the most sophisticated technology and software in the energy marketing and trading industry

Corporate office environment – minimum business casual work attire. Out-of-state travel to conferences, training, committee meetings, workshops and short courses are required Some longer-than-normal work weeks.

OGE Energy Resources Inc. is a full-service energy marketing and trading partner. We offer commodity products and commodity-related services in natural gas, crude oil and natural gas liquids. Energy Resources provides services including asset management, transportation, storage, risk management and transmission.

OGE Energy Corp. Announces Filing of Registration Statement for Initial Public Offering by OGE Enogex Partners L.P.


OKLAHOMA CITY, June 27 /PRNewswire-FirstCall/ - OGE Energy Corp. (NYSE: OGE) today announced that its wholly owned subsidiary, OGE Enogex Partners L.P., has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common units. Application will be made to list the common units on the New York Stock Exchange under the symbol "OGP."

OGE Enogex Partners is a Delaware limited partnership recently formed by OGE Energy to further develop its natural gas midstream assets and operations. The proposed initial public offering will include 7.5 million common units, representing approximately 34.1 percent of the aggregate ownership interest in OGE Enogex Partners. After the offering, OGE Energy will indirectly own common units, subordinated units and a general partner interest that collectively will represent approximately 65.9 percent of the aggregate ownership interest in OGE Enogex Partners. The public offering will increase to 8.625 million common units if the underwriters exercise in full their option to purchase additional units, which would reduce OGE Energy's aggregate ownership interest in OGE Enogex Partners to approximately 62.7 percent.

Following the closing of the proposed offering, OGE Enogex Partners will, in turn, own a 25 percent interest in and control OGE Energy's natural gas pipeline subsidiary, Enogex Inc. (Enogex). OGE Energy will retain a 75 percent interest in Enogex.

Enogex is engaged in natural gas gathering, processing, transportation, storage and marketing. The system includes about 7,800 miles of pipe, six processing plants, and 23 billion cubic feet of storage capacity with operations based in Oklahoma City. OGE Energy also is the parent company of Oklahoma Gas and Electric Company (OG&E), a regulated electric utility serving more than 758,000 customers in a service territory spanning 30,000 square miles in Oklahoma and western Arkansas.

UBS Investment Bank and Lehman Brothers will act as joint book-running managers of the proposed offering. The offering of common units will be made only by means of a prospectus. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, when available, may be obtained from the offices of UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, New York 10171, (212) 821-3000 or Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11717, (888) 603-5847.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities law in any such state.

Portions of this announcement may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission.