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SERVICE FRACTURING COMPANY MAKES STATEMENT

 PAMPA, Texas, Nov. 15 /PRNewswire/ -- Jerry H. Guinn, chairman of the board of directors and president of Service Fracturing Company (NASDAQ-NMS: SERF), today announced that the company's wholly owned subsidiary, Enerex Supply, Inc., has agreed to sell its entire holdings of producing properties to W.O. Oilfield Service Incorporated for approximately $3.5 million. Enerex currently operates approximately 450 stripper oil wells in the Panhandle Field of Texas.
 W.O. Oilfield Service has deposited $350,000 with Enerex as earnest money pending the expected Dec. 1, 1993, closing of the sale. Service Fracturing Company anticipates realizing an approximately $1.5 million gain, on a consolidated basis, as a result of the sale of Enerex's producing properties.
 Service Fracturing Company is engaged primarily in the oilfield service business, providing acidizing, hydraulic fracturing, pumping and chemical cleanup treatments for both newly drilled and existing oil and gas wells in a variety of oil and gas producing regions of the United States.
 -0- 11/15/93
 /CONTACT: Jerry H. Guinn of Service Fracturing Company, 806-665-7221/
 (SERF)


CO: Service Fracturing Company; Enerex Supply, Inc.; W.O. Oilfield
 Service Incorporated ST: Texas IN: OIL SU: RLE


TW -- NY143 -- 4686 11/15/93 17:03 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:200
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