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ENTERRA ANNOUNCES THIRD QUARTER RESULTS

 ENTERRA ANNOUNCES THIRD QUARTER RESULTS
 HOUSTON, Nov. 4 /PRNewswire/ -- Enterra Corporation (NYSE: EN) today


announced that, as expected, third quarter 1992 earnings were less than the like quarter of 1991.
 Net income and earnings per share of $5,774,000 and $.36 for the third quarter of 1992 compared with $6,622,000 and $.42 for the same quarter of 1991. For the nine months ended Sept. 30, 1992, Enterra realized net income and earnings per share of $12,245,000 and $.76 compared to $18,131,000 and $1.14 for the same 1991 period. Approximately two-thirds of the $6,666,000 decline in the quarter's revenues from 1991 was the result of lesser pipeline equipment sales and rentals. The balance of the shortfall is explained by a decrease in the company's oilfield service rental income, primarily as a result of lower domestic oilfield activity and fewer international well control jobs.
 D. Dale Wood, chairman, president and CEO of Enterra, noted that the company's 60 percent increase in non-well control international oilfield service operations was not sufficient to offset the decline in North American oilfield service revenues resulting from lesser drilling and workover activity. The $4.5 million decrease in pipeline revenues reflects fewer international equipment sales as well as a decline in North American rentals and sales from the high level of 1991.
 Enterra Corporation is a worldwide provider of specialized services and products for drilling and servicing onshore and offshore oil and gas wells and of specialized equipment used in the construction and rehabilitation of pipelines.
 ENTERRA CORPORATION
 Comparative Data
 (In thousands, except per-share data)
 Periods ended Quarter Nine Months
 Sept. 30 1992 1991 1992 1991
 Revenues $40,517 $47,183 $114,700 $132,406
 Net income $ 5,774 $ 6,622 $ 12,245 $ 18,131
 Weighted average
 shares outstanding 16,110 15,949 16,085 15,875
 Net income per share $0.36 $0.42 $0.76 $1.14
 -0- 11/4/92
 /CONTACT: Steve Grant of Enterra Corporation, 713-462-7300/
 (EN) CO: Enterra Corporation ST: Texas IN: OIL SU: ERN


CK -- NY040 -- 2484 11/04/92 12:35 EST
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Publication:PR Newswire
Date:Nov 4, 1992
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