EXHIBIT 11


                    THE COASTAL CORPORATION AND SUBSIDIARIES
                 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
                 (Millions of Dollars, Except Per Share Amounts,
                            and Thousands of Shares)

<TABLE>
<CAPTION>
                                                                    Three Months Ended         Six Months Ended
                                                                         June 30,                  June 30,
                                                                  ----------------------    ---------------------
                                                                     2000        1999         2000         1999
                                                                  ---------   ----------    ---------   ---------
                                                                        (Unaudited)               (Unaudited)
<S>                                                               <C>         <C>           <C>         <C>
BASIC EARNINGS PER SHARE
------------------------

Net earnings..................................................    $   127.7   $     93.3    $   301.3   $   227.8
Dividends on preferred stock..................................           .1           .1           .2          .2
                                                                  ---------   ----------    ---------   ---------
Net earnings available to common stockholders.................    $   127.6   $     93.2    $   301.1   $   227.6
                                                                  =========   ==========    =========   =========

Average number of common shares outstanding...................      213,794      212,864      213,564     212,647
Average number of Class A common shares outstanding...........          336          350          339         351
                                                                  ---------   ----------    ---------   ---------
                                                                    214,130      213,214      213,903     212,998
                                                                  =========   ==========    =========   =========

Basic earnings per share......................................    $     .60   $      .44    $    1.41   $    1.07
                                                                  =========   ==========    =========   =========


DILUTED EARNINGS PER SHARE
--------------------------

Net earnings used in calculating basic earnings per share.....    $   127.6   $     93.2    $   301.1   $   227.6
Dividends applicable to dilutive preferred stock:
   Series A...................................................            -            -            -           -
   Series B...................................................           .1           .1           .1          .1
   Series C...................................................            -            -           .1          .1
                                                                  ---------   ----------    ---------   ---------
Income available to common shareholders plus
   assumed conversions........................................    $   127.7   $     93.3    $   301.3   $   227.8
                                                                  =========   ==========    =========   =========

Average number of shares used in calculating basic earnings
   per share..................................................      214,130      213,214      213,903     212,998
Effect of dilutive securities:
   Options....................................................        3,457        2,693        3,001       2,368
   FELINE PRIDES(sm)..........................................        1,538            -          769           -
   Series A, B and C preferred stock..........................        1,196        1,243        1,203       1,258
                                                                  ---------   ----------    ---------   ---------
                                                                    220,321      217,150      218,876     216,624
                                                                  =========   ==========    =========   =========

Diluted earnings per share....................................    $     .58   $      .43    $    1.38   $    1.05
                                                                  =========   ==========    =========   =========


<FN>
------------------------------------

   Convertible securities, FELINE PRIDES(sm) and options are not considered in
   the calculations if the effect of the conversion is anti-dilutive.
</FN>
</TABLE>



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