

                                                   EXHIBIT 99

                                                   DIANE WUYCHECK
                                                         OR
                                                   JILL GEYER
                                                   (412) 553-5911

                                                   JULY 28, 1997




                    EQUITABLE RESOURCES, INC. AGREES TO SELL
                   WESTERN REGION PROPERTIES FOR $174 MILLION


      HOUSTON  -  Equitable  Resources,  Inc.  (ERI)  announced  today  that its
subsidiary,  Equitable  Resources Energy Company (EREC),  has entered into sales
agreements with five  purchasers  covering its oil and natural gas properties in
the Western United States and Canada.  The properties include proved reserves of
191 billion cubic feet of natural gas  equivalent  and over 700,000  undeveloped
acres as of December 31, 1996.

      The aggregate cash sales price will be approximately  $174 million payable
at closings  which are expected to occur on or before  September 30, 1997.  EREC
retained a production payment interest in the exploration acreage. The sales are
subject to buyers'  confirmation  of title and site inspection of the properties
as well as certain other conditions.

      Parties to the sale and the EREC properties they purchased include:  Cabot
Oil & Gas, Greater Green River Basin,  Wyoming;  Inland Resources,  Uinta Basin,
Utah; Big West Oil & Gas Inc., a  wholly-owned  subsidiary of Flying J Oil & Gas
Inc.,  Powder  River  Basin,  Wyoming and a package of  exploration  properties;
Summit  Resources,  Williston Basin,  Montana and North Dakota;  and EBOC Energy
Ltd., Western Alberta Canada properties.

      "We are  extremely  pleased  with the sale of these  properties,"  said R.
Gerald Bennett,  president of ERI's Supply & Logistics  business  segment.  "The
cash price achieved was in excess of $0.91 per Mcf of natural gas equivalent for
these predominantly Rocky Mountain properties. We believe the price reflects the
excellent  quality of the properties  and their fit with the respective  buyers'
operations. These transactions are a part of ERI's strategy to focus on and grow
our exploration and production operations in our primary geographic areas."


                                    --MORE--

<PAGE>


     The sale of these ERI  properties  was  pursuant  to a  process  previously
announced  on April 16,  1997.  Batchelder  & Partners,  Inc.  and First  Energy
Capital Corporation (Calgary) represented Equitable in the transactions.

     EREC is the  exploration  and  production  unit of ERI's Supply & Logistics
business  segment.  ERI Supply & Logistics  explores for,  produces and delivers
natural gas and oil, with primary  operations in the Appalachian  Basin and Gulf
of Mexico. It is also engaged in the  transportation and storage of natural gas,
production  of natural  gas  liquids  and the bulk  trading  of natural  gas and
electricity.

      Equitable Resources is a fully-integrated energy exploration, distribution
and marketing  company.  It offers  customized  energy (natural gas, natural gas
liquids,  crude oil and electricity) 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 the United States.

      Equitable Resources, Inc. is traded under the stock symbol, "EQT."


                                       # # # #


          EQUITABLE RESOURCES' RECENT NEWS RELEASES ARE AVAILABLE FREE
                     OF CHARGE BY FAX THROUGH COMPANY NEWS
           ON CALL AT 1-800-758-5804, EXT. 289250, OR ON THE INTERNET
                           AT HTTP://WWW.ERI2000.COM

