SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 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): November 14, 2002


                           HANOVER COMPRESSOR COMPANY
               (Exact Name of Registrant as Specified in Charter)

         Delaware                       1-13071                  76-0625124
(State or Other Jurisdiction   (Commission File Number)        (IRS Employer
     of Incorporation)                                      Identification No.)

        12001 North Houston Rosslyn
              Houston, Texas                                    77086
  (Address of Principal Executive Offices)                    (Zip Code)

       Registrant's telephone number, including area code: (281) 447-8787



Item 5. Other Events.

On November 14, 2002 the Company issued the following press release:

                HANOVER COMPRESSOR UPDATES STATUS OF SEC INQUIRY

HOUSTON, November 14, 2002 - Hanover Compressor Company (NYSE: HC), the leading
provider of outsourced natural gas compression services, today reported that the
Securities and Exchange Commission has determined to issue a formal order of
investigation in connection with its review of matters relating to Hanover.

Hanover previously announced that it completed a thorough review of prior
transactions and that its Chief Executive Officer and Chief Financial Officer
will certify and file with the Securities and Exchange Commission amended
financial results for 1999, 2000 and 2001. The completion of the internal review
followed the appointment by Hanover of three new independent directors
(including a new Chairman), a new Chief Executive Officer, Chief Financial
Officer and General Counsel.

As previously stated, Hanover has fully cooperated with the inquiry being
conducted by the staff of the SEC in Fort Worth, including sharing the results
of its internal review with the staff. Hanover intends to continue to fully
cooperate with the SEC's staff. In this regard, Hanover has been advised that
the SEC staff is satisfied with Hanover's cooperation to date and acknowledges
the remedial steps Hanover has taken.

"Hanover understands and appreciates the SEC's need to put in place the
appropriate processes to allow the SEC staff to fully and fairly administer
their inquiry," said Mark S. Berg, Senior Vice President and General Counsel.
"We look forward to continuing to fully cooperate with the SEC staff and to
building on the positive relationship we have created with the staff." Berg
said.

About Hanover Compressor

     Hanover Compressor Company (www.hanover-co.com) is the global market leader
in full service natural gas compression and a leading provider of service,
financing, fabrication and equipment for contract natural gas handling
applications. Hanover provides this equipment on a rental, contract compression,
maintenance and acquisition leaseback basis to natural gas production,
processing and transportation companies that are increasingly seeking
outsourcing solutions. Founded in 1990 and a public company since 1997,
Hanover's customers include premier independent and major producers and
distributors throughout the Western Hemisphere.



Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because of the context of the
statement and will include words such as "believes," "anticipates," "expects,"
"estimates," or words of similar import. Similarly, statements that describe
Hanover's future plans, objectives or goals are also forward-looking statements.
Such forward-looking statements are subject to certain risks and uncertainties,
which could cause actual results to differ materially from those anticipated as
of the date of this press release. These risks and uncertainties include: the
loss of market share through competition; reduced profit margins resulting from
increased pricing pressure in our business; the introduction of competing
technologies by other companies; a prolonged, substantial reduction in oil and
gas prices which could cause a decline in the demand for Hanover's compression
and oil and gas production equipment; new governmental safety, health and
environmental regulations which could require Hanover to make significant
capital expenditures; inability to successfully integrate acquired businesses;
currency fluctuations; changes in economic or political conditions in the
countries in which Hanover operates; inability to comply with loan and lease
covenants; inability to access capital markets; adverse results of regulatory
inquiries or shareholder litigation; and legislative changes in the various
countries in which Hanover does business. The forward-looking statements
included in this press release are only made as of the date of this press
release, and Hanover undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances. A
discussion of these factors is included in the Company's periodic reports filed
with the Securities and Exchange Commission.



                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                   HANOVER COMPRESSOR COMPANY

Date:    November 14, 2002         By:  /s/ Mark S. Berg
                                        ----------------------------------------
                                        Name:  Mark S. Berg
                                        Title: Senior Vice President and
                                               General Counsel