
                             HALLIBURTON COMPANY
                                  EXHIBIT 11
                       COMPUTATION OF EARNINGS PER SHARE

  The calculation below for earnings per share of the $2.50 par value Common
Stock of the Company on a primary and fully diluted basis for the three
months ended  March 31, 1994 and 1993, is submitted in accordance with
Regulation S-K item 601 (b) (11).
<TABLE>
<CAPTION>
                                                         Three Months
                                                        Ended March 31
                                                      --------------------
                                                         1994       1993
                                                      ---------  ---------
                                                       Millions of dollars
                                                      except per share data
<S>                                                   <C>        <C>
Primary:
  Net income                                          $    17.8  $    18.8

  Average number of common and common
    share equivalents outstanding                         114.2      107.4

  Primary net income per share                        $    0.16  $    0.18


Fully Diluted:
 Net income                                           $    17.8  $    18.8
  Add after-tax interest
    expense applicable to
    Zero Coupon Convertible
    Subordinated Debentures
    due 2006                                                3.1        2.8
                                                      ---------  ---------
  Adjusted net income                                 $    20.9  $    21.6


  Adjusted average number of
    shares outstanding                                    119.1      112.4

  Fully diluted earnings per share                    $    0.18  $    0.19


<FN>
   The foregoing computations do not reflect any significant potentially
   dilutive effect the Company's Preferred Stock Purchase Rights Plan could
   have in the event such Rights become exercisable and any shares of either
   Series A Junior Participating Preferred Stock or Common Stock of the Company
   are issued upon the exercise of such Rights.
</TABLE>


