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MAXUS ENERGY ANNOUNCES PREFERRED STOCK TRANSACTION

 DALLAS, Nov. 22 /PRNewswire/ -- Maxus Energy Corporation (NYSE: MXS) today announced the public offering of $87.5 million of its $2.50 preferred shares at $25 per share. The preferred shares will pay a dividend of $0.625 per share each March 15, June 15, Sept. 15 and Dec. 15 beginning March 15, 1994. The preferred is not callable until Dec. 1, 1998, at which time it is callable at par. Application has been made to list the preferred shares on the New York Stock Exchange. Underwriters for the offering are Merrill Lynch & Co., Paine Webber Inc., Prudential Securities Inc. and Smith Barney Shearson, Inc.
 Proceeds of the offering will be added to the working capital of the company and used for general corporate purposes, which may include financing the mandatory redemption of $62.5 million of the company's $9.75 preferred shares due in February 1994.
 A copy of the prospectus may be obtained from Investor Relations, Maxus Energy Corporation, 717 North Harwood Street, Dallas, Texas, 75201, 214-953-2816.
 Dallas-based Maxus Energy Corporation is an independent oil and gas exploration and production company with operations in more than one dozen countries.
 -0- 11/22/93
 /CONTACT: Tom Sullivan, 214-953-2844, or Peter Dallas (investor), 214-953-2816, both of Maxus Energy Corporation/


CO: Maxus Energy Corporation ST: Texas IN: OIL SU: OFR

TW -- NY048 -- 6810 11/22/93 11:35 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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