Conversations in service-oriented computation are frequently long running. In such a setting, traditional ACID properties of transactions cannot be reasonably implemented, and compensation mechanisms seem to provide convenient techniques to, at least, approximate them. In this paper, we investigate the representation and analysis of structured compensating transactions within a process calculus model, by embedding in the Conversation Calculus certain structured compensation programming abstractions inspired by the ones proposed by Butler, Ferreira, and Hoare. We prove the correctness of the embedding after developing a general notion of stateful model for structured compensations and related results, and showing that the embedding induces such a model.