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WESTERN GAS RESOURCES ANNOUNCES SECOND QUARTER RESULTS

 WESTERN GAS RESOURCES ANNOUNCES SECOND QUARTER RESULTS
 DENVER, Aug. 6 /PRNewswire/ -- Western Gas Resources Inc. (NYSE:


WGR) announced today to holders of its common stock that the company again set new operational records for revenues, net income and cash flow from operations for the second quarter and six months ended June 30, 1992
 Second quarter 1992 revenues increased 99 percent over the second quarter 1991 to $126.3 million and second quarter net income increased 116 percent to $6.3 million, or $.22 per common share. Cash flow from operations (working capital provided by operations) increase 93 percent to $14.7 million.
 For the six months ended June 30, 1992, revenues increase 63 percent over the same period in 1991 to $251.4 million and net income increased 66 percent to $14.3 million, or $.51 per common share. Cash flow from operations (working capital provided by operations) increased 61 percent to $31.3 million.
 Average gas prices increased 7 percent to $1.46/Mcf in the second quarter 1992 compared to $1.37/Mcf for the second quarter 1991. Average gas sales increased 73 percent in the second quarter of 1992 to 406 MMcf/D compared to 235 MMcf/D in the second quarter of 1991. Average gas prices and average gas sales for the six months ended June 30, 1992, were $1.45/Mcf and 419 MMcf/D, respectively, compared to $1.56/Mcf, and 294 MMcf/D, respectively, for the same period in 1991.
 Average natural gas liquids (NGL) prices for the second quarter of 1992 decreased slightly to $.31/Gal compared to $.34/Gal for the same period in 1991, but showed some strengthening over the first quarter of 1992. Average second quarter NGL sales increased 166 percent to 2,278 MGal/D compared to 855 MGal/D in 1991. Average NGL prices and average NGL sales for the six months ended June 30, 1992, were $.31/Gal and 2,224 MGal/D, respectively, compared to $.35/Gal and 856 MGal/D, respectively, for the same period in 1991.
 The increase in gas and NGL volumes is primarily due to the UTP acquisition in November 1991. Gas and liquids prices have been steadily improving since the beginning of the second quarter 1992 and are expected to have more impact on sales margins in the third quarter.
 Western is continuing its strategy of acquiring additional plants and gathering systems to consolidate with our existing operations. The company is scheduled to complete the purchase of two gas gathering systems handling about 5 MMcf/D of gas in Oklahoma and Kansas today for $2.25 million. Approximately 3 MMcf/D of the gas supply will be rerouted to the company's Chaney Dell/Lamont complex for processing. The remaining 2 MMcf/D will continue to be routed to a third party pipeline. Through consolidation, the company will realize a reduction in annual operating costs of the newly acquired facilities and an increased utilization of it existing facilities.
 Progress continues on new projects currently underway. The Texas Railroad Commission has recently issued a favorable ruling regarding Western's application for authority to construct and operate the Katy gas storage and interconnect facility near Katy, Texas. The company is working toward obtaining other necessary permits on the facility with estimated completion in mid-1993. Additionally, construction of the 24 MMcf/D liquid recovery plant at the Sand Dunes field in Wyoming is near completion.
 Western is pursing new investment opportunities through new projects and acquisitions to expand its area of operations towards enhancing profitability and increasing shareholder value.
 WESTERN GAS RESOURCES INC.
 1992 2nd Quarter Earnings
 Quarter Six Months
 Ended June 30, Ended June 30,
 Pct. Pct.
 1992 1991 Chg. 1992 1991 Chg.
 Financial Statistics:
 (000's except share
 and per share
 amounts)
 Revenues $126,330 $63,461 99 $251,411 $154,535 63
 Net Income 6,263 2,901 116 14,299 8,589 66
 Earnings per
 Common Share .22 .14 57 .51 .41 24
 Cash Flow from
 Operations 14,700 7,617 93 31,320 19,413 61
 Weighted Average
 Common
 Shares
 Out-
 standing 25,438,906 21,145,854 20 25,421,789 21,138,464 20
 Operating
 Statistics:
 Average Gas
 Sales (MMcf/D) 406 235 73 419 294 42
 Average NGL Sales
 (MGal/D) 2,278 855 166 2,224 856 160
 Average Gas
 Prices ($/Mcf) $1.46 $1.37 7 $1.45 $1.56 (7)
 Average NGL
 Prices ($/Gal) $.31 $.34 (9) $.31 $.35 (11)
 -0- 8/6/92
 /CONTACT: Ron Wirth of Western Gas Resources, 800-933-5603/
 (WGR) CO: Western Gas Resources Inc. ST: Colorado IN: OIL SU: ERN


MM-MC -- DV002 -- 7374 08/06/92 07:31 EDT
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Date:Aug 6, 1992
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