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AMERADA HESS CORPORATION REPORTS RESULTS

 AMERADA HESS CORPORATION REPORTS RESULTS
 NEW YORK, Oct. 22 /PRNewswire/ -- Amerada Hess Corporation


(NYSE: AHC) today reported net income of $8,700,000 ($.11 per share) for the third quarter of 1992 compared with a net loss of $7,500,000 ($.09 per share) for the third quarter of 1991.
 Exploration and production earnings were $32,200,000 in the third quarter of 1992 compared with earnings of $20,800,000 in the third quarter of 1991. Refining and marketing operations had a loss of $7,800,000 in the third quarter of 1992 compared with a loss of $3,800,000 in the third quarter of 1991. Corporate charges, net of earnings from other operating activities, amounted to $15,700,000 in the third quarter of 1992 compared with $24,500,000 in the third quarter of 1991.
 The results of operations for the nine months ended Sept. 30, 1992, amounted to a net loss of $10,400,000 ($.12 per share) compared with net income of $135,900,000 ($1.68 per share) for the nine months ended Sept. 30, 1991. Earnings from exploration and production activities amounted to $101,600,000 for the nine months ended Sept. 30, 1992, compared with earnings of $191,500,000 for the first nine months of 1991. Exploration and production earnings for the first nine months of 1991 included $46,200,000 from the settlement of litigation relating to natural gas sales contracts. Refining and marketing operations had a loss of $72,600,000 for the nine months ended Sept. 30, 1992, compared with a loss of $43,600,000 for the nine months ended Sept. 30, 1991.
 Consolidated revenues amounted to $1,420,800,000 in the third quarter of 1992 compared with $1,326,300,000 in the third quarter of 1991. Consolidated revenues for the first nine months of 1992 totaled $4,351,400,000 compared with $4,794,500,000 in the corresponding period of 1991.
 Capital expenditures were $400,000,000 in the third quarter of 1992 compared with $481,500,000 in the third quarter of 1991. Capital expenditures were $1,161,700,000 in the first nine months of 1992 compared with $1,279,200,000 in the corresponding period of 1991. These expenditures reflect $784,600,000 and $496,700,000 (including capitalized interest) in the first nine months of 1992 and 1991, respectively, for the corporation's three major projects. These projects are the development of the Scott oil field and the Everest and Lomond natural gas fields and related pipeline and transmission facilities in the U.K. North Sea and the construction of the fluid catalytic cracking complex and associated gasoline upgrading facilities at the Virgin Islands refinery.
 AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
 (Unaudited)
 Three months ended Sept. 30 1992 1991
 Total revenues $1,420,800,000 $1,326,300,000
 Net income (loss) $ 8,700,000 $ (7,500,000)
 Net income (loss) per share $.11 $(.09)
 Weighted average no. of shares 92,600,000 81,100,000
 Nine months ended Sept. 30 1992 1991
 Total revenues $4,351,400,000 $4,794,500,000
 Net income (loss) $ (10,400.000)(A) $ 135,900,000(A,B)
 Net income (loss) per share $(.12)(A) $1.68(A,B)
 Weighted average no. of shares 85,600,000 (C) 81,100,000
 (A) -- Includes income tax refunds and related interest of $25,400,000 ($.30 per share) and $54,400,000 ($.67 per share) in the first nine months of 1992 and 1991, respectively.
 (B) -- Includes $46,200,000 ($.57 per share) from the settlement of litigation relating to natural gas sales contracts.
 (C) -- Reflects the weighted average effect of the issuance of 11,500,000 shares in June 1992.
 -0- 10/22/92
 /CONTACT: C. T. Tursi of Amerada Hess, 212-536-8593/
 (AHC) CO: Amerada Hess Corporation ST: New York IN: OIL SU: ERN


GK-OS -- NY103 -- 3673 10/22/92 13:38 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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