Exhibit 3.2
                                                                 
                                
                       ARTICLES OF MERGER
                                
                               OF
                                
               MAVERICK REINCORPORATION SUB, INC.
                                
                               AND
                                
                     CALENERGY COMPANY, INC.




TO THE SECRETARY OF STATE
OF THE STATE OF IOWA:

     Pursuant to the provision of Sections 490.1105 and 1107 of
the *Iowa Business Corporation Act, the undersigned corporation
hereby executes and adopts the following Articles of Merger for
the purpose of merging (the "Merger") CalEnergy Compamy, Inc., a
Delaware corporation ("CalEnergy"), with and into Maverick
Reincorporation Sub, Inc., an Iowa corporation ("Maverick"),
which will be the surviving corporation.  CalEnergy and Maverick
are sometimes referred to individually as a "Constituent
Corporation" and collectively as the "Constituent Corporations."

1.   The  Agreement and Plan of Merger ("Plan of Merger"),  dated
     as of August 11, 1998, a copy of which is attached hereto as
     Annex  A  and  is  incorporated  by  reference  herein,  was
     approved  by  the shareholders of CalEnergy on  October  30,
     1998,  and  the shareholder of Maverick on March  12,  1999.
     The  Agreement  and  Plan of Merger  dated  March  12,  1999
     between  CalEnergy  and Maverick which  sets  forth  certain
     additional details in connection with the Plan of Merger  is
     attached  hereto as Annex B and is incorporated by reference
     herein.

2.   The laws of Delaware, the state under which CalEnergy is
     organized, permit such merger.

3A.  As  of each Constituent Corporation, the designation, number
     of shares outstanding, number of shares entitled to vote and
     the number of votes entitled to be cast by each voting group
     entitled  to  vote separately on the Plan of  Merger  is  as
     follows:

                 Voting                Entitled      Number
     Name        Group    Outstanding  to Vote       of Votes
     Maverick    Common   10           10            10
                                                     
     CalEnergy   Common   59,543,144   59,543,144    59,543,144

3B.  As  to  each  Constituent Corporation, the total  number  of
     voteds  of  the  shares voted for and against  the  Plan  of
     Merger  by each voting group entitled to vote separately  on
     the Plan of Merger is as follows:

                 Voting   Total Votes  Total Votes   
     Name        Group    of Shares    of Shares     
                          Voted For    Voted         Abstained
                                       Against
     Maverick    Common   10           0             0
                                                     
     CalEnergy   Common   43,082,529   105,991       64,385


4.   The number of votes cast for the Plan of Merger by each
     voting group was sufficient for approval by that voting group.

5.   Upon effectiveness of the Merger, the Articles of
     Incorporation of the surviving corporation shall be as set forth
     in Annex C attached hereto, and the directors of the corporation
     shall be David L. Sokol, Gregory E. Abel, Steven A. McArthur,
     John A. Rasmussen, Jr., and Alan L. Wells.

6.   The Merger shall become effective at the later of the time
     of filing of (i) these articles of Merger with the Secretary of
     State of Iowa and (ii) a Certificate of Merger with the Secretary
     of Statge of Delaware.


MAVERICK REINCORPORATION SUB, INC.



s/s Steven A. McArthur______________
Steven A. McArthur
Vice President and Secretary

Dated:  March 12, 1999