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EQUITABLE RESOURCES REPORTS EARNINGS

 PITTSBURGH, March 4 /PRNewswire/ -- Equitable Resources, Inc. (NYSE: EQT) today reported a 14 percent increase in fourth quarter net income to $23.1 million, or 74 cents per share, from $20.2 million, or 65 cents per share in 1991.
 For the full year, income from operations increased 12 percent while net income of $60.0 million, or $ 1.92 per share, was below the prior year's $64.2 million, or $2.05 per share. This difference reflects the recovery of revenues from a pricing dispute dating back more than 10 years that added $4.7 million to 1992 net income compared with $14.9 million in 1991.
 Improved operations for 1992 resulted in large part from increases of 20 percent in both natural gas and oil production and higher natural gas wellhead prices. In addition, increased retail sales of natural gas from the Company's utility operations benefited 1992's results.
 EQUITABLE RESOURCES, INC. AND SUBSIDIARIES
 Statements of Consolidated Income (unaudited)
 3 Months Ended Dec. 31: 1992 1991
 Operating revenues $261,385 $218,744
 Net income $ 23,134 $ 20,241
 Earnings per share $ .74 $ .65
 Average shares outstanding 31,373 31,283
 12 Months Ended Dec. 31:
 Operating revenues $812,374 $679,631
 Net income $ 60,026 $ 64,168
 Earnings per share $ 1.92 $ 2.05
 Average shares outstanding 31,342 31,253
 -0- 3/4/93
 /CONTACT: Joseph L. Giebel of Equitable Resources, 412-553-5950/
 (EQT)


CO: Equitable Resources, Inc. ST: Pennsylvania IN: OIL UTI SU: ERN

CD -- PG003 -- 2888 03/04/93 10:20 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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