

                                                   EXHIBIT 99

                                                   ROBERT BUTTER
                                                   OR
                                                   DIANE WUYCHECK
                                                   (412) 553-5911

                                                   JULY 17, 1997

             EQUITABLE RESOURCES' CEO ELECTS EARLY RETIREMENT

      PITTSBURGH -- The Board of Directors of Equitable  Resources,  Inc.  (ERI)
today announced the retirement of company  president and chief executive officer
Frederick H. Abrew,  59, who has served in this position since January 1995. Mr.
Abrew's early  retirement  from ERI and its Board is effective  immediately.  He
joined  the  company  in 1980 as an  operating  manager  and held  positions  of
increasing  management  responsibility,  including  being named chief  operating
officer of the company in 1992.
      Donald I. Moritz,  chairman of the executive  committee of the Board, will
become ERI's interim chief  executive  officer.  Mr. Moritz held the position of
chairman and chief  executive  officer of the company  until his  retirement  in
1994.  The search for a successor is underway,  with both  internal and external
candidates being considered.
      "Fred  Abrew has done an  excellent  job in  establishing  an  appropriate
direction for ERI's  transition in a  deregulated  marketplace,"  said Thomas A.
McConomy,  chairman of the Board's governance and search committees.  "The Board
of Directors  expressed its  appreciation  for Mr. Abrew's many years of service
and guidance.  Under his  leadership,  ERI has become one of the industry's most
innovative energy services  organizations.  Our committee is seeking a successor
who will  complete the  implementation  of ERI's  strategy of becoming a premier
provider of energy solutions."
      Equitable  Resources,  Inc.  is  a  fully-integrated  energy  exploration,
distribution and marketing  company.  It offers  customized  energy solutions to
wholesale and retail  customers with  innovative  products and services from its
three primary business segments -- ERI Supply & Logistics, ERI Utilities and ERI
Services. ERI has operations and customers throughout North America.
      Equitable Resources, Inc. is traded under the ticker symbol, "EQT."

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