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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: November 3, 2000
ONEOK TO PROVIDE GAS TRANSPORTATION SERVICE
TO DUKE ENERGY POWER PLANT
TULSA, Oklahoma -- ONEOK Gas Transportation, L.L.C. (OGT), a subsidiary of
ONEOK, Inc., (NYSE:OKE) and Duke Energy North America (DENA) today announced the
execution of long-term agreements for OGT to provide natural gas transportation
service to DENA's natural gas fueled McClain Energy Facility in Newcastle,
Oklahoma. Details of the contract are confidential.
OGT will provide firm transportation service of up to 85,000 Mcf per day to
the 500 megawatt, combined cycle generating plant, meeting all the facility's
current fuel transportation requirements. The McClain Energy Facility is
expected to begin commercial operations and supplying wholesale electric power
to regional power markets next summer.
"We at ONEOK are pleased to provide natural gas transportation services to
Duke's McClain Energy Facility," said Pete Walker, OGT vice president. "This
new facility is an important addition to the state and will help to meet the
growing electricity demands brought about by the strong economy."
Industry sources indicate as many as 20 merchant power plants are being
considered for construction in Oklahoma.
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DENA is a leading wholesale energy services company. DENA and its
affiliates including Duke Energy Trading and Marketing provide natural gas and
power supply and services, and risk management products to wholesale energy
producers and users. DENA also develops, owns and manages a portfolio of
merchant generation facilities.
Duke Energy, a diversified, multinational energy company, creates value for
its customers and shareholders through an integrated network of energy assets
and expertise. Duke Energy manages a dynamic portfolio of natural gas and
electric supply, delivery and trading businesses - generating revenues of nearly
$22 billion in 1999. Duke Energy, headquartered in Charlotte, N.C., is a
fortune 100 company traded on the New York Stock Exchange under the symbol DUK.
More information about the company is available on the Internet at:
http://www.duke-energy.com.
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ONEOK, Inc., is a diversified natural gas energy company involved in
natural gas 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. In
addition, ONEOK is a major natural gas midstream operator in West Texas.
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Any statements contained in this release that may include company expectations
or predictions may be considered 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. Specifically, it is important to note that
actual results could differ from the predictive statements in this release,
including those related to the transportation service to the McClain Energy
Plant. Additional information about ONEOK is available on the ONEOK website at
http://www.oneok.com.
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