Oneok to purchase Kinder Morgan assets

(Tulsa-AP) -- Oneok Incorporated has signed a definitive agreement to purchase Kinder Morgan Incorporated's natural gas gathering and processing businesses in Oklahoma, Kansas, and west Texas. Oneok

Wednesday, February 9th 2000, 12:00 am

By: News On 6

(Tulsa-AP) -- Oneok Incorporated has signed a definitive agreement to purchase Kinder Morgan Incorporated's natural gas gathering and processing businesses in Oklahoma, Kansas, and west Texas. Oneok is the parent company of Oklahoma Natural Gas Company.

Oneok also will buy Kinder Morgan's marketing and trading business and certain storage and transmission pipelines in the mid-continent region. Officials say Oneok will pay about 114 million dollars for the business, along with an amount equal to net working capital at closing. Oneok President David Kyle says this is a continuation of their strategy of expanding their ownership of natural gas assets and marketing capabilities in the mid-continent region.