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MAXUS ENERGY AND ITS PARTNERSHIP ENTER NATURAL GAS HEDGING PROGRAMS

 DALLAS, May 13 /PRNewswire/ -- Maxus Energy Corporation (NYSE: MXS) and its master limited partnership, Diamond Shamrock Offshore Partners (DSP), today announced that they have entered new natural gas hedging programs. Maxus' program is based on an average of 55,000 million British thermal units per day (mmBtupd), while DSP's program is based on an average of 35,000 mmBtupd.
 The programs begin with June 1993 and extend through the remainder of the year. The monthly price levels for these programs were determined in early May based on published gas futures quotations. Maxus and the partnership will receive either a settlement or make a payment to the extent that any price so determined exceeds (in the first instance) or is less than (in the second instance) actual monthly settlement prices for the particular gas futures markets involved or, in some cases, published index prices. These arrangements neither require nor permit actual gas delivery.
 Dallas-based Maxus Energy is a large independent oil and gas exploration and development company with operations in 13 countries, including the U.S. Maxus holds approximately 87 percent of DSP.
 -0- 5/13/93
 /CONTACT: Linda Covington, media, 214-953-2844, or Peter Dallas, investor, 214-953-2083, both of Maxus Energy Corporation/
 (MXS)


CO: Maxus Energy Corporation ST: tEXAS IN: OIL SU:

LR -- NY074 -- 8229 05/13/93 15:19 EDT
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Publication:PR Newswire
Date:May 13, 1993
Words:220
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