SECURITIES AND EXCHANGE COMMISSION
                               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)

                                   December 1, 1994


                                  ASHLAND COAL, INC.
                (Exact name or registrant as specified in its charter)



               DELAWARE                 1-9993               61-0880012
          (State or other      (Commission file number)    (I.R.S.Employer
           jurisdiction of                               Identification No.)
           incorporation or 
           organization)


               2205 FIFTH STREET ROAD, HUNTINGTON, WEST VIRGINIA  25701
               (Address of principal executive offices)        (Zip Code)



                   P.O. BOX 6300, HUNTINGTON, WEST VIRGINIA  25771
                                 (Mailing Address)        (Zip Code)



         Registrant's telephone number, including area code:  (304) 526-3333







          Item 5.   Other Events.

          Execution of Amended and Restated Revolving Credit Agreement

               Ashland Coal has executed  an Amended and Restated Revolving
          Credit Agreement  which increases its available  credit under the
          facility  to  $500 million  from  $180 million  and  enhances its
          financing  flexibility  by  expanding   its  fixed  and  floating
          interest rate options.  The facility was  made effective November
          15, 1994 and  the first borrowing of  $25 million was made  under
          the  facility on  December 1,  1994.   Bank of  America Illinois,
          Morgan Guaranty  Trust Company of New  York, National Westminster
          Bank  PLC, the  First  National Bank  of  Chicago and  PNC  Bank,
          National Association are agents under the Facility.

          Item 7.  Financial Statements and Exhibits

               The following exhibit is filed as a part of this report:

          4.1  Amended and  Restated Credit Agreement dated as  of November
          15, 1994, among Ashland Coal, Inc., the Banks listed therein, and
          Bank of America  Illinois, Morgan Guaranty  Trust Company of  New
          York,  National Westminster Bank PLC, the  First National Bank of
          Chicago and PNC Bank, National Association, as Agents.


                                      SIGNATURES

               Pursuant to the requirements  of Section 13 or 15(d)  of the
          Securities Exchange Act  of 1934, the registrant  has duly caused
          this  report to  be  signed on  its  behalf by  the  undersigned,
          thereunto duly authorized.


                                             ASHLAND COAL, INC.
                                             (Registrant)

                                             By:  /s/  Roy F. Layman       
                                                  Administrative Vice
                                                  President and Secretary


                                             Date:  December 2, 1994
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3304}]
{"company-data": {"conformed-name": "ASHLAND COAL INC", "cik": "0000833890", "assigned-sic": "1221", "irs-number": "610880012", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09993", "film-number": "94563086"}, "business-address": {"street1": "2205 FIFTH ST RD", "city": "HUNTINGTON", "state": "WV", "zip": "25701", "phone": "3045263333"}, "mail-address": {"street1": "PO BOX 6300", "city": "HUNTINGTON", "state": "WV", "zip": "25771"}}
SECURITIES AND EXCHANGE COMMISSION
                               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)

                                   December 1, 1994

                                  ASHLAND COAL, INC.
                (Exact name or registrant as specified in its charter)

               DELAWARE                 1-9993               61-0880012
          (State or other      (Commission file number)    (I.R.S.Employer
           jurisdiction of                               Identification No.)
           incorporation or 
           organization)

               2205 FIFTH STREET ROAD, HUNTINGTON, WEST VIRGINIA  25701
               (Address of principal executive offices)        (Zip Code)

                   P.O. BOX 6300, HUNTINGTON, WEST VIRGINIA  25771
                                 (Mailing Address)        (Zip Code)

         Registrant's telephone number, including area code:  (304) 526-3333

          Item 5.   Other Events.

          Execution of Amended and Restated Revolving Credit Agreement

               Ashland Coal has executed  an Amended and Restated Revolving
          Credit Agreement  which increases its available  credit under the
          facility  to  $500 million  from  $180 million  and  enhances its
          financing  flexibility  by  expanding   its  fixed  and  floating
          interest rate options.  The facility was  made effective November
          15, 1994 and  the first borrowing of  $25 million was made  under
          the  facility on  December 1,  1994.   Bank of  America Illinois,
          Morgan Guaranty  Trust Company of New  York, National Westminster
          Bank  PLC, the  First  National Bank  of  Chicago and  PNC  Bank,
          National Association are agents under the Facility.

          Item 7.  Financial Statements and Exhibits

               The following exhibit is filed as a part of this report:

          4.1  Amended and  Restated Credit Agreement dated as  of November
          15, 1994, among Ashland Coal, Inc., the Banks listed therein, and
          Bank of America  Illinois, Morgan Guaranty  Trust Company of  New
          York,  National Westminster Bank PLC, the  First National Bank of
          Chicago and PNC Bank, National Association, as Agents.

                                      SIGNATURES

               Pursuant to the requirements  of Section 13 or 15(d)  of the
          Securities Exchange Act  of 1934, the registrant  has duly caused
          this  report to  be  signed on  its  behalf by  the  undersigned,
          thereunto duly authorized.

                                             ASHLAND COAL, INC.
                                             (Registrant)

                                             By:  /s/  Roy F. Layman       
                                                  Administrative Vice
                                                  President and Secretary

                                             Date:  December 2, 1994