
FOR IMMEDIATE RELEASE                Contacts
                                     Media:              Brandon Lackey
                                                         (713) 624-3483

                                     Investor Relations: Guy Marcus
                                                         (214) 978-2691


              HALLIBURTON PURCHASES MINORITY INTEREST IN PES

HOUSTON,  Texas (May 7, 1997) - Halliburton Energy  Services and Petroleum
Engineering Services (PES) announced today the purchase by Halliburton of a
26% ownership interest in  PES. This  development is a further
strengthening of the alliance between  the two organizations announced last
September  for the  development and delivery of intelligent well completion
systems.    Sometimes  called  "smart  wells,"   these   new completions
can help oil and gas companies reduce  operating expenditures   and
enhance  hydrocarbon  recovery   through improved reservoir management.

       Zeke   Zeringue,  president  of  Halliburton   Energy Services,
said, "This investment by Halliburton helps assure alignment with PES in
our cooperative effort to continue  to bring leading-edge technologies to
the emerging intelligent well  market.   We  believe that smart well
technology  will revolutionize  well  completions in the industry  and
we're pleased  to  be strengthening our relationship with  PES  to provide
the preferred solution to our customers."

      "This  relationship also gives us the  opportunity  to integrate
another   component  into  Halliburton's   broad completion  product
offerings,"  added  Zeringue,  "further strengthening our capabilities in
this important area."

      "This  investment is a major step forward for the  PES group," said
Larry Kinch, chairman of PES.  "It will provide the financial   platform
and   access   to   the   global infrastructure  we  need to expand our
business  worldwide." Kinch went on to say that, by integrating
technologies  and services,  Halliburton and PES are positioned to offer
"the world's  premier  solution for surface controlled  reservoir
monitoring and management of multilateral wells."

       Headquartered   in   Aberdeen,  Scotland,   Petroleum Engineering
Services  is a leading provider  of  specialist well  completions  and
intervention products,  services  and solutions.   Since  its founding in
1986,  the  company  has grown its  revenues to over 16 million British
pounds  and employs more than 230 people.

     Halliburton Energy Services Inc., a Halliburton Company organization
(NYSE:HAL), is a leading supplier of  products, services and integrated
solutions to the energy industry  on a global basis.

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