

                                                                      Exhibit 11

                               HALLIBURTON COMPANY
                        COMPUTATION OF EARNINGS PER SHARE
                   FOR THE THREE YEARS ENDED DECEMBER 31, 1996

     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 is  submitted  in
accordance with Regulation S-K item 601(b)(11).
<TABLE>
<CAPTION>

                                                                               1996           1995           1994
                                                                            -----------    -----------    -----------
                                                                               (In millions except per share data)
<S>                                                                         <C>            <C>            <C>   
Primary:
   Net income                                                               $    300.4     $    183.7     $    180.9

   Average number of common shares outstanding                                   126.1          124.7          124.2

   Primary net income per share:                                            $     2.38     $     1.47     $     1.45


---------------------------------------------------------------------------------------------------------------------

Fully diluted:
   Net income                                                               $    300.4     $    183.7     $    180.9
   Add after-tax interest expense applicable to
       Zero Coupon Convertible Subordinated
       Debentures due 2006                                                       -               12.5           13.2
                                                                            -----------------------------------------
                                                                            
   Adjusted net income                                                      $    300.4     $    196.2     $    194.1

   Adjusted average number of common shares outstanding                          126.3          128.4          127.4

   Fully diluted net income per share:                                      $     2.38     $     1.53     $     1.52

<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. Reference is made to Note 8 to the financial statements
of this Annual Report.
</FN>
</TABLE>
