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MCFARLAND ENERGY, INC. ANNOUNCES RESULTS

 SANTA FE SPRINGS, Calif., Nov. 16 ~PRNewswire~ -- McFarland Energy, Inc. (NASDAQ-NMS: MCFE) announced today unaudited financial results for the quarter ended Sept. 30, 1992, and the nine-month period ended the same date.
 Revenues for the three-month period ended Sept. 30, 1992, were $3,959,000 compared with $3,725,000 for the same period in 1991. Revenues for the nine-month period in 1992 were $11,373,000 vs. $11,902,000 for the nine-month period in 1991.
 Net income for the quarter ended Sept. 30, 1992, was $526,000, equal to $.10 per share, as compared with a net loss as restated, in the amount of $1,892,000, equal to $0.36 per share, in the same period in 1991. Net income for the nine-month period ended Sept. 30, 1992, was $830,000, equal to $.16 per share, as compared with a net loss, as restated, of $5,398,000, equal to $1.04 per share, in the same period in 1991.
 MCFARLAND ENERGY, INC.
 Financial Results
 (Unaudited)
 Periods ended Quarter Nine Months
 Sept. 30 1992 1991(A) 1992 1991(A)
 Revenues $3,959,000 $3,725,000 $11,373,000 $11,902,000
 Net income 526,000 (1,892,000) 830,000 (5,398,000)
 Per-share
 net income $.10 $(.36) $.16 $(1.04)
 (A) -- Restated due to change in accounting method.
 Note: Figures in parentheses are losses.
 McFarland Energy, Inc. is an independent oil and gas exploration and production company headquartered in Santa Fe Springs. McFarland stock is listed on the National Market System of the NASDAQ over-the-counter exchange.
 -0- 11~16~92
 ~CONTACT: George J. Eckert or Ronald T. Yoshihara of McFarland Energy, Inc., 310-944-0181~
 (MCFE)


CO: McFarland Energy, Inc. ST: California IN: OIL SU: ERN

CK-AH -- NY106 -- 1453 11~16~92 16:21 EST
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Date:Nov 16, 1992
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