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ONEOK INC. REPORTS YEAR-END EARNINGS

 TULSA, Okla., Oct. 7 /PRNewswire/ -- ONEOK Inc. (NYSE: OKE), a Tulsa-based energy company, today reported earnings of $1.43 per share of common stock for the 1993 fiscal year ended Aug. 31, 1993, an increase from the $1.21 per share for the previous year.
 Consolidated net income was $38.4 million in 1993 vs. $32.6 million in 1992. Consolidated operating revenues were $789.1 million and $677.1 million, respectively, for the 12-month periods.
 J.D. Scott, ONEOK's chairman, president and chief executive officer, said earnings for the 1993 fiscal year for Oklahoma Natural Gas Company, the company's utility division, increased to $33 million, or $1.23 per share, from $28.4 million, or $1.05 per share. Primary earnings gains were from colder weather, an interim rate increase granted in March 1992, subject to refund, and a reduction in gas required for system operations.
 Offsetting these gains were reduced margins on gas deliveries and increased costs of operations.
 Scott reported 1993 profits from Energy Companies of ONEOK, the non-utility division of the company, were $5.9 million, or 22 cents per share, compared with $5.4 million, or 21 cents per share, for the previous year.
 Earnings gains from exploration, production and gas marketing operations were offset by reduced margins in natural gas liquids operations due to increased gas costs. Prices averaged $2.01 per Mcf for natural gas and $18.50 per barrel for oil compared with $1.47 and $20.07, respectively, for the previous fiscal year.
 ONEOK Inc. is a diversified energy company engaged in natural gas transmission and distribution, oil and gas exploration and production, contract drilling, gas processing and gas marketing. The company's stock is traded on the New York and Midwest stock exchanges under the trading symbol of OKE. ONEOK has outstanding 26.6 million shares of common stock.
 -0- 10/7/93
 /CONTACT: Walt Radmilovich, Weldon Watson or Jerry Neal of ONEOK Inc., 918-588-7000/
 (OKE)


CO: ONEOK Inc. ST: Oklahoma IN: OIL SU: ERN

CK -- NY051 -- 9774 10/07/93 12:45 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
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