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HALLIBURTON REPORTS 1992 THIRD QUARTER EARNINGS

 HALLIBURTON REPORTS 1992 THIRD QUARTER EARNINGS
 DALLAS, Oct. 29 /PRNewswire/ -- Halliburton Company (NYSE: HAL)


today reported that its 1992 third quarter net income was $33 million or 31 cents per share, compared to $24.6 million or 23 cents per share in the 1991 third quarter.
 The Energy Services Group's 1992 third quarter revenues were $681.4 million, a decline of 7 percent as compared to the year-ago quarter. The revenue decline was influenced by the 10 percent lower average worldwide rig count compared to the year ago quarter.
 The Energy Services Group's operating income was $31.1 million in the 1992 third quarter, compared to $48.9 million in the 1991 third quarter. Lower profitability in the 1992 quarter resulted principally from lower revenues, increased price discounting and a combination of costs associated with improving the group's market presence. Such costs relate primarily to the development of new product lines, building a greater presence in international markets and organizational streamlining.
 The Engineering and Construction Group's 1992 third quarter revenues were $836.6 million, 7 percent lower than last year's third quarter. The revenues largely reflect lower activity levels at the group's petroleum and chemical business unit.
 The Engineering and Construction Group's operating income for the 1992 third quarter was $22.1 million, 37 percent higher than the 1991 quarter. The 1992 quarter includes a $6.2 million loss provision for a job being completed in California, while the 1991 quarter included a $15.8 million loss provision for a job in the Middle East.
 The Insurance Services Group reported operating income of $4.2 million for the 1992 third quarter. Operating income resulted from capital gains recognized on the group's investment portfolio. Underwriting results remain unsatisfactory due to poor industry-wide pricing of property and casualty insurance policies.
 Two non-operating items benefited Halliburton Company's 1992 third quarter earnings, while another item partially offset such benefits. Settlement of a tax claim in Canada resulted in $12.8 million of additional interest income, pretax, or 6 cents per share, after tax, during the quarter. Also, Halliburton completed the sale of its Health Economics Corporation subsidiary which resulted in a pretax gain of $13.6 million or 8 cents per share after tax. Foreign currency losses, related primarily to South American operations, adversely affected results in the 1992 third quarter and for the year.
 Thomas H. Cruikshank, chairman of the board and chief executive officer of Halliburton Company, said, "The Energy Services Group's revenues from activities in the United States increased monthly through the 1992 third quarter, largely in response to higher natural gas prices, which have increased from about $1.10 per mcf in February to over $2 per mcf in September. The improved prices have encouraged increased drilling for natural gas in the United States as customers' current cash flows and future expectations have improved. However, revenues from international activities in the 1992 third quarter, which had been increasing earlier in 1992, remained about equal to the second quarter.
 Growth of the Engineering and Construction Group's business is closely linked to worldwide economic conditions. Current weak economic conditions in the United States, and in key international markets, have influenced customers to be more cautious with their current spending plans. As improved economic conditions develop the group's business should benefit."
 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.
 HALLIBURTON COMPANY
 (In millions, except per-share data)
 Periods ended Quarter Nine Months
 Sept. 30 1992 1991 1992 1991
 Revenues
 Energy services $681.4 $735.6 $1,979.9 $2,170.3
 Engineering and
 construction
 services 836.6 902.9 2,685.8 2,798.3
 Insurance services 59.2 84.8 208.0 274.8
 Total revenues $1,577.2 $1,723.3 $4,873.7 $5,243.4
 Operating income
 Energy services 31.1 48.9 74.8 126.8
 Engineering and
 construction
 services 22.1 16.1 63.3 68.0
 Insurance services 4.2 0.2 11.4 6.0
 General corporate
 expenses (5.8) (5.2) (16.6) (16.0)
 Total operating
 income 51.6 60.0 132.9 184.8
 Interest expense (12.5) (14.5) (40.7) (39.2)
 Interest income 19.4 8.3 32.7 25.1
 Foreign currency
 losses (8.4) (0.9) (21.5) (8.8)
 Gain on sale of Health
 Economics Corporation 13.6 -- 13.6 --
 Other non-operating,
 net (0.2) (0.4) 1.0 (0.5)
 Income before income
 taxes and minority
 interest 63.5 52.5 118.0 161.4
 Provision for income
 taxes (30.5) (26.3) (59.7) (74.3)
 Minority interest -- (1.6) (3.1) (2.8)
 Net income 33.0 24.6 55.2 84.3
 Net income per
 share (A) $0.31 $0.23 $0.52 $0.79
 Average number of
 common shares
 outstanding 107.1 106.9 107.1 106.9
 (A) -- Per-share amounts are based upon average number of common shares outstanding.
 -0- 10/29/92
 /CONTACT: Guy T. Marcus, VP-investor relations of Halliburton Company, 214-978-2691/
 (HAL) CO: Halliburton Company ST: Texas IN: OIL SU: ERN


CK -- NY101 -- 6842 10/29/92 17:40 EST
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