Washington, D.C. 20549

                              FORM 8-K
                           CURRENT REPORT

               PURSUANT TO SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

            DATE OF REPORT (date of earliest event reported)

                           JULY 26, 1994

                        Halliburton Company
        (Exact name of registrant as specified in its charter)

State or other                Commission          IRS Employer
jurisdiction                  File Number         Identification
of incorporation                                  Number

Delaware                      1-3492              No. 73-0271280

                         3600 Lincoln Plaza
                       500 North Akard Street
                      Dallas, Texas 75201-3391
              (Address of principal executive offices)

                  Registrant's telephone  number,
                 including area code - 214/978-2600

                         Page 1 of 6 pages
                The Exhibit Index appears on Page 4

Item 5.   Other Events

     The registrant may, at its option, report under
this item any events, with respect to which
information is not otherwise called for by this form,
that the registrant deems of importance to security

     On July 26, 1994, the registrant issued a press
release entitled Halliburton Compression Unit to be
Sold pertaining, among other things, to an
announcement that the registrant has engaged Dillon,
Read & Co. Inc. to assist in the sale of the
company's natural gas compression business.

     The foregoing summary is subject to the full
text of the press release with respect thereto, a
copy of which is attached hereto as Exhibit 20, which
exhibit is incorporated herein by reference.

Item 7.   Financial Statements and Exhibits

     List below the financial statements, pro forma
financial information and exhibits, if any, filed as
part of this report.

     (c)  Exhibits.

          Exhibit 20 - Press release dated July 26,

                      Page 2 of 6 pages
             The Exhibit Index appears on Page 4


     Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                         HALLIBURTON COMPANY

Date:     July 27, 1994            By: (Robert M. Kennedy)
                                        Robert M. Kennedy
                                      Vice President - Legal

                      Page 3 of 6 pages
             The Exhibit Index appears on Page 4

                        EXHIBIT INDEX

Exhibit                                       Sequentially
Number             Description                Numbered Page

    20             Press Release of
                   July 26, 1994               5 of 6
                   Incorporated by Reference

                      Page 4 of 6 pages
             The Exhibit Index appears on Page 4

FOR IMMEDIATE RELEASE              Contact  -  Guy T. Marcus
July 26, 1994                                  V.P.-Inv. Rel.
                                               (214) 978-2691


     DALLAS, Texas -- Halliburton Company today announced that
Dillon, Read & Co. Inc. has been engaged to assist Halliburton in
the sale of the company's natural gas compression business.

     Halliburton's compression business, part of the Halliburton
Energy Services business segment, provides rental equipment and
associated services for the compression of natural gas.  It is
one of the largest independent providers of such services in
North America and in 1993 the business had revenues of about $44
     Thomas H. Cruikshank, chairman of the board and chief
executive officer of Halliburton Company, said, "As part of our
ongoing strategic planning program, it has been determined that
the natural gas compression business is peripheral to Halliburton
Energy Services' core business activities and future strategic
direction.  The planned sale is consistent with our recently
announced plans to dispose of another business unit, Halliburton
Industrial Services, with the objective of gaining greater focus
on the company's core business activities.  We anticipate
completion of the sale of the compression business by year-end
1994 and we expect to realize a significant gain on the sale."

     Halliburton Company is one of the world's largest
diversified energy services, engineering, maintenance, and
construction companies.  Founded in 1919, Halliburton provides a
broad range of energy services and products, industrial and
marine engineering and construction services, and property and
casualty insurance services.
                         # # #