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KERR-MCGEE '93 CAPITAL BUDGET SET AT $415 MILLION

 OKLAHOMA CITY, Jan. 28 /PRNewswire/ -- Kerr-McGee Corp. (NYSE: KMG) has budgeted $415 million for 1993 capital spending, approximately the same as the amount spent in 1992.
 About 65 percent of the 1993 capital budget, $270 million, will be spent on exploration and production activities, compared with $264 million in 1992, according to Frank A. McPherson, chairman and chief executive officer. Of that amount, approximately 60 percent is allocated for oil and natural gas development projects in the North Sea. The balance will be spent in the Gulf of Mexico, onshore United States, Canada and other parts of the world.
 Approximately $45 million of the 1993 budget will fund development of Kerr-McGee's coal reserves in Wyoming and Illinois. That compares with $69 million spent on such projects in 1992.
 Chemical's 1993 capital expenditures are budgeted at $55 million, up 60 percent from 1992. The additional capital expenditures will be used for capacity expansion projects.
 Refining and marketing's capital expenditures are budgeted at $40 million in 1993, approximately the same as 1992's expenditures.
 -0- 1/28/93
 /CONTACT: Dow Dozier of Kerr-McGee, 405-270-2877/
 (KMG)


CO: Kerr-McGee Corp. ST: Oklahoma IN: OIL SU:

MC -- DV004 -- 0165 01/28/93 10:45 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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