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AMERADA HESS REPORTS RESULTS

 AMERADA HESS REPORTS RESULTS
 NEW YORK, July 27 /PRNewswire/ -- Amerada Hess Corporation


(NYSE: AHC) reported net income of $4,400,000 ($.06 per share) for the second quarter of 1992 compared with net income of $67,700,000 ($.84 per share) for the second quarter of 1991. Earnings for the second quarter of 1992 and 1991 include income from the refund of prior years' income taxes and related interest of $12,300,000 ($.15 per share) and $54,400,000 ($.67 per share), respectively.
 Exploration and production earnings were $40,400,000 in the second quarter of 1992 compared with earnings of $36,700,000 in the second quarter of 1991. Refining and marketing operations had a loss of $25,200,000 in the second quarter of 1992 compared with earnings of $3,800,000 in the second quarter of 1991. Corporate administration and other activities had net expenses of $10,800,000 in the second quarter of 1992 compared with income of $27,200,000 in the second quarter of 1991, including the income tax refunds referred to above.
 The results of operations for the first half of 1992 amounted to a net loss of $19,000,000 ($.23 per share) compared with net income of $143,400,000 ($1.77 per share) for the first half of 1991. Earnings from exploration and production activities amounted to $69,400,000 for the first half of 1992 compared with earnings of $170,700,000 for the first half of 1991. Exploration and production earnings for the first half 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 $64,900,000 for the first half of 1992 compared with a loss of $39,800,000 for the first half of 1991.
 Consolidated revenues amounted to $1,480,100,000 in the second quarter of 1992 compared with $1,433,200,000 in the second quarter of 1991. Consolidated revenues in the first half of 1992 totaled $2,930,700,000 compared with $3,468,200,000 in the corresponding period of 1991.
 Capital expenditures were $410,900,000 in the second quarter of 1992 compared with $437,400,000 in the second quarter of 1991. Capital expenditures were $761,800,000 in the first half of 1992 compared with $797,700,000 in the corresponding period of 1991. These expenditures reflect $511,300,000 and $294,600,000 (including capitalized interest) in the first half 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 United Kingdom 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; 000's omitted, except per share)
 Periods Ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Total
 revenues $1,480,100 $1,433,200 $2,930,700 $3,468,200
 Net income
 (loss) 4,400(A) 67,700(A) (19,000)(A) 143,400(A,B)
 Net inc. (loss)
 per share $.06(A) $.84(A) $(.23)(A) $1.77(A,B)
 Weighted avg.
 no. of shrs. 83,000(C) 81,100 82,000(C) 81,100
 (A) Includes income tax refunds and related interest of $12,300,000 ($.15 per share) and $25,400,000 ($.31 per share) in the second quarter and first half of 1992, respectively, and $54,400,000 ($.67 per share) in both the second quarter and first half of 1991.
 (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- 7/27/92
 /CONTACT: C.T. Tursi of Amerada Hess, 212-536-8593/
 (AHC) CO: Amerada Hess Corporation ST: New York IN: OIL SU: ERN


SB-PS -- NY086 -- 3595 07/27/92 14:29 EDT
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Date:Jul 27, 1992
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