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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
April 4, 2000
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.
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Item 5. Other Events.
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On March 31, 2000, ONEOK, Inc. ("ONEOK") announced the closing of the sale
of its 42.3 percent interest in the Indian Basin Gas Processing Plant and
gathering system for $55 million to El Paso Field Services Company, a business
unit of El Paso Energy Corporation. ONEOK acquired its interest in the plant,
located in Eddy County, New Mexico, when it acquired the natural gas properties
of Western Resources.
On March 31, 2000, the Company issued a press release, a copy of which is
attached hereto as Exhibit 99.a and incorporated herein by reference.
Items 6-7. Not Applicable.
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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 4th day of April 2000.
ONEOK, Inc.
By: Jim Kneale
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Jim Kneale
Vice President, Chief Financial
Officer, and Treasurer
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Exhibit 99.a
Financial News
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ONEOK, Inc. Contact: Weldon Watson, 918/588-7158
P.O. Box 871
Tulsa, OK 74102-0871 For Immediate Release: March 31, 2000
ONEOK CLOSES SALE OF INTEREST IN NEW MEXICO GAS PLANT
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Tulsa, Oklahoma - ONEOK, Inc. (NYSE:OKE), closed today on the previously
announced sale of its 42.3 percent interest in the Indian Basin Gas Processing
Plant and gathering system for $55 million to El Paso Field Services Company, a
business unit of El Paso Energy Corporation (NYSE:EPG). ONEOK acquired its
interest in the plant, located in Eddy County, New Mexico, when it acquired the
natural gas properties of Western Resources.
David Kyle, ONEOK's president and chief operating officer, said that the
plant was not strategic to ONEOK's existing assets. "As we have in the past, we
will exit those areas that no longer represent strategic value and focus our
efforts on those strategic assets that strengthen and complement our growing
marketing and trading capabilities," Kyle said.
ONEOK, Inc., is an integrated natural gas company involved in production,
processing, gathering, storage and transmission in the mid-continent areas of
the United States. The company's natural gas marketing operations provide
service to customers in 25 states. The company is also the largest natural gas
distributor in Kansas and Oklahoma, operating as Kansas Gas Service and Oklahoma
Natural Gas Company, serving 1.4 million customers.
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Statements contained in this release that include company expectations or
predictions 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 could differ materially
from those projected in such forward-looking statements. Any additional
information regarding factors that could cause actual results to materially
differ may be found in the company's Securities and Exchange Commission filings.
The ONEOK web site is at Service area maps and logos are available under Media
Kit.
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