SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934




                                 Arch Coal, Inc.
        ----------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, par value $.01 per share
        ----------------------------------------------------------------
                         (Title of Class of Securities)

                                   039380 10 0
        ----------------------------------------------------------------
                                 (CUSIP Number)



The  remainder  of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).



                                     Page 1 of 5 Pages






                                         SCHEDULE 13G

CUSIP No. 039380 10 0

1       NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

        Hunt Coal Corporation
        75-2559684
        --------------------------------------

2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                       (a) [   ]

                                                                       (b) [ x ]
                                                                           -----
3       SEC USE ONLY


4       CITIZENSHIP OR PLACE OF ORGANIZATION                               Texas
                                                                           -----

   NUMBER OF                        5  SOLE VOTING POWER               2,199,659
    SHARES
  BENEFICIALLY                      6  SHARED VOTING POWER                --0--
   OWNED BY
     EACH                           7  SOLE DISPOSITIVE POWER          2,199,659
  REPORTING
    PERSON                          8  SHARED DISPOSITIVE POWER            --0--
     WITH

9       AGGREGATE AMOUNT BENEFICIALLY                                  2,199,659
        OWNED BY EACH REPORTING PERSON                                 ---------

10      CHECK BOX IF THE AGGREGATE AMOUNT IN
        ROW (9) EXCLUDES CERTAIN SHARES                                   [    ]

11      PERCENT OF CLASS REPRESENTED BY                                     5.5%
        AMOUNT IN ROW (9)                                                   ----

12      TYPE OF REPORTING PERSON*                                             CO
                                                                              --



                                     Page 2 of 5 Pages







                                         SCHEDULE 13G
                                     CUSIP NO. 039380 10 0

        Pursuant  to Rule  13d-1 and  13d-2  promulgated  under  the  Securities
Exchange Act of 1934,  as amended,  the  undersigned  hereby files this Schedule
13G.

Item 1.        (a)           The name of the Issuer is Arch Coal, Inc.

               (b)           The address of the Issuer's  principal  
                             executive  offices is CityPlace One, Suite 
                             300, Creve Coeur, Missouri 63141.

Item 2.        (a)           The name of the person filing this report is 
                             Hunt Coal Corporation (the "Reporting Person").

               (b),(c)       The address of the principal place of
                             business of the Reporting Person is 5000
                             Thanksgiving Tower, Dallas, Texas 75201.  The
                             Reporting Person is a corporation organized
                             and existing under the laws of the State of
                             Texas.

               (d),(e)       This report relates to the Common Stock of
                             Arch Coal, Inc. CUSIP No. 039380 10 0.

Item 3. Not applicable.

Item 4. Ownership
        ---------

               (a)           The Reporting Person may be deemed to be the
                             beneficial owner of 2,199,659 shares of the
                             Common Stock of the Issuer.  The filing of
                             this report shall not be construed as an
                             admission that the Reporting Person is, for
                             purposes of Section 13(d) or 13(g) of the
                             Act, the beneficial owner of these
                             securities.

               (b)           The shares covered by this report represent 5.5% of
                             the Common Stock of the Issuer.

               (c)           The   Reporting   Person   has  sole   voting   and
                             dispositive  power over the 2,199,659  shares owned
                             by it.


                                     Page 3 of 5 Pages






Item 5.   Ownership of Five Percent or Less of a Class
          --------------------------------------------

          Not applicable.

Item 6.   Ownership of More than Five Percent on
          Behalf of Another Person
          ---------------------------------------

          Not applicable.

Item 7.   Identification and Classification of the Subsidiary
          which Acquired the Security Being Reported on by the
          Parent Holding Company
          ----------------------------------------------------

          Not applicable.

Item 8.   Identification and Classification of the Members
          of the Group
          -------------------------------------------------

          Not applicable.

Item 9.   Notice of Dissolution of Group
          --------------------------------

          Not applicable.

Item 10.  Certification
          -------------

          Not applicable.



                                     Page 4 of 5 Pages






                                           SIGNATURE

        After  reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.


                                            HUNT COAL CORPORATION




February 9, 1998                           By:/s/ James L. Parker
                                            -----------------------------------
                                                   James L. Parker
                                                   President


                                     Page 5 of 5 Pages