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HAWKINS ENERGY CORPORATION CLOSES ACQUISITION

 TULSA, Okla., June 11 /PRNewswire/ -- Hawkins Energy Corporation (NASDAQ: HECI) today announced that it has closed the acquisition of Mid-South Compressors, Inc. Total consideration included the issuance of 5.4 million shares of Hawkins Energy common stock and $1.0 million in cash. After the closing the total outstanding shares of Hawkins Energy common stock totalled 9.2 million. Under terms of the acquisition agreement, Mr. Don E. Smith, president and Mr. David J. Parsons, vice president, of Mid-South Compressors, Inc., will join the board of directors of Hawkins Energy Corporation.
 Hawkins Energy anticipates closing its acquisition of Owens Compression Services, Inc. of Kilgore, Texas within the next four weeks. As previously announced, Hawkins will acquire Owens through issuance of an additional 3.1 million shares.
 Currently, Hawkins Energy conducts its gas compression business through two wholly-owned subsidiaries, Equity Compressors, Inc. which is based in Oklahoma City and Mid-South Compressors based in Columbia, Mississippi. Upon successful closing of the Owens transaction, Hawkins Energy's gas compression business will include a rental fleet of 448 compressor units totalling 46,000 horsepower serving the gas producing regions of Alabama, Mississippi, North Louisiana, East Texas, Arkansas, Oklahoma, Kansas and the Texas Panhandle.
 Hawkins Energy is a Tulsa-based, publicly traded energy company engaged in oil and gas production and leasing, sales and remanufacturing of gas compression equipment through its wholly-owned subsidiaries, Equity Compressors, Inc. and Mid-South Compressors, Inc. Hawkins Energy's common shares are listed on NASDAQ under the symbol HECI, and are carried in the "NASDAQ Small-Cap Issues" section of many financial publications under the abbreviation "HwkEn".
 -0- 6/11/93
 /CONTACT: Secretary of Hawkins Energy Corporation, 918-587-5815/
 (HECI)


CO: Hawkins Energy Corporation ST: Oklahoma IN: OIL SU: TNM

TM -- NY072 -- 1286 06/11/93 18:34 EST
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Publication:PR Newswire
Date:Jun 11, 1993
Words:293
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