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NOBLE AFFILIATES REPORTS INCREASED OPERATING RESULTS FOR 1992 THIRD QUARTER AND FIRST NINE MONTHS

 NOBLE AFFILIATES REPORTS INCREASED OPERATING RESULTS
 FOR 1992 THIRD QUARTER AND FIRST NINE MONTHS
 ARDMORE, Okla., Oct. 28 /PRNewswire/ -- Noble Affiliates, Inc. (NYSE: NBL) today reported significant gains in revenues and earnings for the third quarter and first nine months of 1992 over those of the comparable periods a year ago.
 Net income for the third quarter was $6,519,000, or 15 cents per share, up 544 percent over the $1,012,000, or 2 cents per share, earned in the same period of 1991. Revenues for the three month period were $68,493,000, an increase of 27 percent from 1991's third quarter revenues of $53,818,000.
 For the first nine months of 1992, Noble's net income rose 138 percent on a revenue gain of 27 percent from a year ago. Net income for the nine months was $33,157,000, or 75 cents per share, on revenues of $226,968,000, compared with net income of $13,920,000, or 31 cents per share, on revenues of $178,431,000 in the first nine months of 1991. The net income gain for the first nine months of 1992 included the $18 million after-tax gain from the sale of Noble's interest in Natural Gas Clearinghouse.
 Robert Kelley, Noble's chairman, president and CEO, said, "The strong third quarter revenues and earnings reflected increased oil and gas production, which was accompanied by higher prices for both products."
 Noble's daily gas production in the 1992 third quarter averaged 202.6 million cubic feet, up 16 percent from 174 million cubic feet in the same period of the prior year. Gas prices received by the company in the 1992 period averaged $1.87 per thousand cubic feet, 32 percent above the $1.42 per thousand cubic feet it averaged a year ago.
 During the first nine months, Noble's gas production averaged 201.7 million cubic feet per day, a 24 percent increase over its average daily production of 162.5 million cubic feet in the same period of 1991. Noble's gas prices for the first nine months of both years averaged $1.70 per thousand cubic feet.
 Oil production averaged 18,035 barrels per day in the third quarter and 17,875 barrels per day in the first nine months, an increase of 13 percent and 24 percent, respectively, over the same periods of the prior year. During the 1992 third quarter, Noble received an average price of $19.51 per barrel, compared with $19.22 per barrel for the 1991 third quarter. For the first nine months, its average price was $18.51 per barrel, versus $20.81 per barrel in the same period of 1991.
 Noble Affiliates, Inc. is an independent energy company with exploration and production operations throughout major basins in the United States, including the Gulf of Mexico, as well as international operations primarily in Canada, Tunisia, Indonesia and Equatorial Guinea. Its common stock is listed on the NYSE under the symbol "NBL."
 NOBLE AFFILIATES, INC. AND SUBSIDIARIES
 CONSOLIDATED SUMMARY OF RESULTS
 (Unaudited -- Thousands except per share)
 FOR THE QUARTER ENDED SEPT. 30
 1992 1991
 Revenues $68,493 $53,818
 Net Income $ 6,519 $ 1,012
 Net Income Per Share of Common
 Stock $ .15 $ .02
 Average Shares Outstanding 44,363 $44,127
 FOR THE NINE MONTHS ENDED SEPT. 30
 1992 1991
 Revenues $226,968 $178,431
 Net Income $ 33,157 $ 13,920
 Net Income Per Share of Common
 Stock $ .75 $ .31
 Average Shares Outstanding $ 44,255 $ 44,118
 -0- 10/28/92
 /CONTACT: William D. Dickson for Noble Affiliates, Inc., 405-223-4110/
 (NBL) CO: Noble Affiliates, Inc. ST: Oklahoma IN: OIL SU: ERN


LR -- NY057 -- 5965 10/28/92 11:51 EST
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Date:Oct 28, 1992
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