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MAXUS ENERGY ANNOUNCES PRODUCTION REPLACEMENT, FINDING COST FOR 1992

 DALLAS, Feb. 17 /PRNewswire/ -- Maxus Energy Corporation (NYSE: MXS) today reported that, as a result of exploration and production activities, it replaced 210 percent of 1992 worldwide oil and gas production at a finding and development cost of $3.07 per equivalent barrel.
 For the past five years, Maxus has replaced an average 179 percent of its production at a finding and development cost of $3.52 per equivalent barrel. The 1992 replacement figure includes additional reserves from an increased interest in Ecuador's Block 16 and from a natural gas project in the Northwest Java contract area.
 At year-end 1992, Maxus had reserves of 359 million barrels of oil equivalent (boe), compared to 317 million boe at year-end 1991.
 Dallas-based Maxus is a large independent oil and gas exploration and production company with operations in 13 countries, including the U.S.
 -0- 2/17/93
 /CONTACT: Phyllis Sammons, (media), 214-953-2831, or Jeff Ventura, (investors), 214-953-2819, both of Maxus Energy Corporation/
 (MXS)


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

WB -- NY072 -- 7332 02/17/93 12:19 EST
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Publication:PR Newswire
Date:Feb 17, 1993
Words:179
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