Exhibit 99.a
[ONEOK GRAPHIC APPEARS HERE] Financial News
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June 4, 2002 Contact: Weldon Watson
918-588-7158
ONEOK SELLS EQUITY INTEREST IN MAGNUM HUNTER
Tulsa, Oklahoma - ONEOK, Inc., (NYSE:OKE), today announced it has sold its
remaining equity interest in Magnum Hunter Resources, Inc., (AMEX:MHR), an
independent exploration and development company located in Irving, Texas. The
interest sold by ONEOK represented 4.9 million shares of Magnum Hunter common
stock.
David Kyle, chairman, president, and chief executive officer of ONEOK,
said, "Our decision to sell is not a reflection on Magnum Hunter. Strategically
it is time for us to divest our interest. The $35.8 million proceeds from this
sale will be used to reduce ONEOK's outstanding commercial paper."
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ONEOK, Inc. is a diversified energy company involved primarily in oil and gas
production, natural gas processing, gathering, storage and transmission in the
mid-continent areas of the United States. The company's energy marketing and
trading operations provide service to customers in 28 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. ONEOK is a Fortune 500 Company.
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. Additional information about ONEOK is available on the ONEOK web
site at www.oneok.com. Service area maps and logos are available under Media
Kit.
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