<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Form 10-Q
for Hallwood Consolidated Resources Corporation for the quarter ended March 31,
1998 and is qualified in its entirety by reference to such Form 10-Q.
</LEGEND>
<CIK> 0000883953
<NAME> Hallwood Consolidated Resources Corporation
<MULTIPLIER> 1,000
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> MAR-31-1998
<CASH> 1,978
<SECURITIES> 0
<RECEIVABLES> 7,110
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 13,529
<PP&E> 296,650
<DEPRECIATION> 223,672
<TOTAL-ASSETS> 86,967
<CURRENT-LIABILITIES> 7,888
<BONDS> 0
<PREFERRED-MANDATORY> 0
<PREFERRED> 0
<COMMON> 30
<OTHER-SE> 50,126
<TOTAL-LIABILITY-AND-EQUITY> 86,967
<SALES> 7,377
<TOTAL-REVENUES> 7,462
<CGS> 0
<TOTAL-COSTS> 4,493
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 821
<INCOME-PRETAX> 438
<INCOME-TAX> 123
<INCOME-CONTINUING> 315
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 315
<EPS-PRIMARY> .11
<EPS-DILUTED> .11