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EQUITABLE RESOURCES REPORTS HIGHER EARNINGS

 PITTSBURGH, April 27 /PRNewswire/ -- Equitable Resources (NYSE: EQT) today reported an 18 percent increase in first quarter net income.
 For the 1993 period, the company earned $30.8 million, or 98 cents per share, compared with $26.2 million, or 84 cents per share, in the first quarter of 1992.
 Equitable credited the gains to increased gas and oil production, higher wellhead prices and the effects of a mid-1992 retail rate increase.
 Compared with the 1992 quarter, the company's natural gas production increased 6 percent to 13.1 billion cubic feet. Officials noted that the company's average wellhead prices for natural gas and oil were up 35 percent and 5 percent, respectively, for the 1993 quarter.
 EQUITABLE RESOURCES, INC. AND SUBSIDIARIES
 Summary of Results (Unaudited)

 (Thousands except per share amounts)
 Three months ended March 31: 1993 1992
 Revenues $269,819 $245,208
 Net Income $ 30,795 $ 26,180
 Earnings Per Share $ 0.98 $ 0.84
 Average Shares Outstanding 31,409 31,315
 -0- 4/27/93
 /CONTACT: Joseph L. Giebel of Equitable Resources, 412-553-5950/
 (EQT)


CO: Equitable Resources ST: Pennsylvania IN: OIL UTI SU: ERN

CD -- PG005 -- 1335 04/27/93 11:49 EDT
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Date:Apr 27, 1993
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