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MCFARLAND ENERGY INC. ANNOUNCES RESULTS

 MCFARLAND ENERGY INC. ANNOUNCES RESULTS
 SANTA FE SPRINGS, Calif., May 18 /PRNewswire/ -- McFarland


Energy Inc. (NASDAQ: MCFE) announced unaudited operating results for the quarter ended March 31, 1992.
 Revenues for the three months ended March 31, 1992, were $3,464,000, compared with $4,188,000 in the same period in 1991. Net loss for the first quarter of 1992 was $231,000, equal to $0.04 per share vs. a net loss, as restated of $1,570,000, equal to $0.30 per share, in the first quarter of 1991.
 MCFARLAND ENERGY INC.
 Financial Results Unaudited
 Quarter Ended March 31, 1992 1991(a)
 Revenues $3,464,000 $4,188,000
 Net income (231,000) (1,570,000)
 Average shares 5,199,359 5,199,359
 Per share net income ($0.04) ($0.30)
 Figures in parenthesis are losses.
 (a) Restated to reflect accounting change.
 McFarland Energy Inc. is an independent oil and gas exploration and production company headquartered in Santa Fe Springs. McFarland's stock is listed on the National Market System of the NASDAQ over the counter exchange.
 -0- 5/18/92
 /CONTACT: George J. Eckert or Ronald T. Yoshihara of McFarland Energy, 310-944-0181/
 (MCFE) CO: McFarland Energy Inc. ST: California IN: OIL SU: ERN


DM-EH -- LA029 -- 1414 05/18/92 14:46 EDT
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Date:May 18, 1992
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