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UTILICORP SUBSIDIARY PURCHASES GAS RESERVES

 UTILICORP SUBSIDIARY PURCHASES GAS RESERVES
 KANSAS CITY, Mo., Dec. 23 /PRNewswire/ -- UtiliCorp United


(NYSE: UCU) today announced that its Aquila Energy subsidiary has signed an agreement to purchase certain oil and gas interests in Oklahoma and Texas from Shell Western E&P Inc. Aquila values the transaction at $54.8 million including future development costs.
 The reserves are located at the Mocane-Lavern Field and the Fort Cobb/Rally Field in the Anadarko Basin in Oklahoma. Aquila estimates that proved reserves total approximately 64 billion cubic feet equivalent of natural gas. UtiliCorp Chairman ad President Richard C. Green, Jr. said, "This is an excellent purchase as the production life of these fields is estimated to be about 50 years."
 Aquila Energy continued its dramatic growth in 1991. Its estimated net income will be between $15 million and $16 million, compared to $12.3 million in 1990. Aquila continues to enhance its natural gas marketing capability through strategic acquisitions of reserves, pipeline and gathering systems and processing facilities.
 Based in Kansas City, UtiliCorp provides gas and electric service to nearly one million customers in eight states and the province of British Columbia. The company also is engaged in various non-regulated and utility related enterprises.
 -0- 12/23/91
 /CONTACT: Phil Hermanson of UtiliCorp United, 816-691-3541/
 (UCU) CO: UtiliCorp United; Shell Western E&P Inc. ST: Missouri, Texas, Oklahoma IN: OIL SU: TNM


JT -- NY040 -- 4823 12/23/91 12:05 EST
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Publication:PR Newswire
Date:Dec 23, 1991
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