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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
February 24, 1999
Date of Report (Date of earliest event reported)
ONEOK, Inc.
(Exact name of registrant as specified in its charter)
Oklahoma 1-2572 73-1520922
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
100 West Fifth Street; Tulsa, OK
(Address of principal executive offices)
74103
(Zip code)
(918) 588-7000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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Items 1 - 4. Not Applicable.
Item 5. Other Events.
ONEOK, Inc. announced February 23, 1999, it has joined Carl E.
Gungoll Exploration, Inc., in completing an acquisition of natural gas and oil
reserves from an undisclosed party.
On February 23, 1999, the Company issued a press release, a
copy of which is attached hereto as exhibit 99.a and incorporated herein by
reference.
Item 6. Not Applicable
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
Exhibit
No. Description
99.a Press release issued by ONEOK, Inc. dated February 23, 1999.
Items 8-9. Not Applicable
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized, on this 24th of February, 1999.
ONEOK, Inc.
By: Jerry D. Neal
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Vice President, Chief Financial
Officer, and Treasurer
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Index to Exhibits
<TABLE>
<CAPTION>
Exhibit
Number Description
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<S> <C>
99 Press release issued by ONEOK, Inc. dated February 23, 1999
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[GRAPHIC OMITTED]
EXHIBIT 99.A
[ONEOK LETTERHEAD]
ONEOK ACQUIRES RESERVES
TULSA, Oklahoma -- ONEOK, Inc. (NYSE:OKE), announced today it has
joined Carl E. Gungoll Exploration, Inc., in completing an acquisition of
natural gas and oil reserves from an undisclosed party. ONEOK's contribution to
the acquisition was $9.8 million.
Estimated net reserves for the acquisition should exceed 12 Bcfe and
include significant development potential. These properties are predominantly
natural gas and are located in the Cement Field in Caddo and Grady Counties,
Oklahoma, an area where ONEOK currently has other properties. This field has
been very active in recent years and continues to show promise for future
development.
Carl E. Gungoll Exploration, Inc., is a privately held independent
producer based in Oklahoma City, Oklahoma. The future development activity of
the properties acquired will be operated by Gungoll, which has previously been
very active in the Cement Field. ONEOK will participate in these development
activities and will also be involved in providing gas marketing services.
This acquisition is a continuation of ONEOK's strategy to purchase
natural gas reserves in Oklahoma and other parts of the Mid-Continent, which
provide opportunities for low-risk development.
ONEOK, Inc., is engaged in natural gas intrastate distribution and
transmission, gas processing, gas marketing and gas production. ONEOK has
approximately 31.6 million shares of common stock outstanding.
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STATEMENTS CONTAINED IN THIS RELEASE THAT INCLUDE COMPANY EXPECTATIONS OR
PREDICTIONS OF THE FUTURE ARE FORWARD- LOOKING STATEMENTS INTENDED TO BE COVERED
BY THE SAFE HARBOR PROVISIONS OF THE SECURITIES ACT OF 1933 AND THE SECURITIES
EXCHANGE ACT OF 1934. IT IS IMPORTANT TO NOTE THAT THE ACTUAL RESULTS OF COMPANY
EARNINGS COULD DIFFER MATERIALLY FROM THOSE PROJECTED IN SUCH FORWARD-LOOKING
STATEMENTS. INFORMATION IS AVAILABLE ON THE INTERNET WORLD WIDE WEB AT
HTTP://WWW.ONEOK.COM.
