SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549
                                     
                                 FORM 10-Q
                                     
                                     
/X/     Quarterly  Report Pursuant to Section 13 or 15(d)of the  Securities
Exchange Act of 1934

For the Quarterly Period Ended June 30, 1997

                                    or
Transition  Report  Pursuant  to Section 13  or  15(d)  of  the  Securities
Exchange Act of 1934

For the Transition Period Ended______________________

                         Commission File Number 2-784441


                      STERLING GAS DRILLING FUND 1982
            (Exact name of registrant as specified in charter)
                                     
                                     
                                 New York
      (State or other jurisdiction of incorporation or organization)
                                     
                                13-3147901
                   (IRS employer identification number)


              One Landmark Square, Stamford Connecticut 06901
           (Address and Zip Code of principal executive offices)


                              (203) 358-5700
           (Registrant's telephone number, including area code)
                                     
                              NOT APPLICABLE
(Former name, former address and former fiscal year, if changed since last
                                  report)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes    X  No
<PAGE>
                                  PART I

Item 1.       Financial Statements
The following Financial Statements are filed herewith:

Balance Sheets - June 30, 1997 and December 31, 1996.

Statements of Operations for the Six and the Three Months Ended June
30, 1997 and 1996.

Statements of Changes in Partners' Equity for the Six and the Three
Months Ended June 30, 1997 and 1996.

Statements of Cash Flows for the Six Months Ended June 30, 1997 and
1996.

Note to Financial Statements

Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations

1. Liquidity -

The oil and gas industry is intensely competitive in all its phases.  There
is  also  competition among this industry and other industries in supplying
energy and fuel requirements of industrial and individual consumers.  It is
not  possible for the Registrant to calculate its position in the  industry
as  Registrant  competes  with  many other companies  having  substantially
greater financial and other resources.  In accordance with the terms of the
Prospectus,  the  General  Partners  of  the  Registrant  will  make   cash
distributions of as much of the Partnership cash, credited to  the  capital
accounts  of the Partners, as the General Partners have determined  is  not
necessary or desirable for the payment of any contingent debts, liabilities
or  expenses or for the conduct of the Partnership's business.  As of  June
30,  1997,  the  General partners have distributed to the Limited  partners
$1,402,512  or 9.76% of the total Limited Partner capital contributions  to
the Limited partners.

      The net proved oil and gas reserves of the Partnership are considered
to be an indicator of financial strength and future liquidity.  The present
value of unescalated future net revenue (S.E.C. case) associated with  such
reserves,  discounted  at  10% as of December 31,  1996  was  approximately
$975,800  as  compared  to  the December 31, 1995  value  of  approximately
$664,000.  The increase  in total estimated discounted future  net  revenue
was  due  in  part  to higher year end gas prices as of December  31,  1996
compared  the  gas  price   in effect as of December  31,  1995.    Overall
reservoir  engineering  is a subjective process of  estimating  underground
accumulations  of gas and oil that can not be measured in an exact  manner.
The  accuracy  of  any reserve estimate is a function  of  the  quality  of
available  data  and  of the engineering and geological interpretation  and
judgment.  Accordingly, reserve estimates are generally different from  the
quantities  of  gas  and  oil  that  are  ultimately  recovered  and   such
differences  may  have  a  material impact on the  Partnership's  financial
results and future liquidity.

<PAGE>
2. Capital Resources -

The  Registrant was formed for the sole intention of drilling oil  and  gas
wells.  The Registrant entered into a drilling contract with an independent
contractor in December 1982 for $11,400,000.  Pursuant to the terms of this
contract,  fifty-one wells have been drilled resulting in  fifty  producing
wells  and one dry-hole.  The Registrant has had a reserve report  prepared
which  details reserve value information, and such information is available
to  the  Limited  Partners  pursuant  to  the  buy-out  provisions  of  the
Prospectus as previously filed.

3.   Results of Operations -

Total  overall  operating  revenues increased  from  $130,953  in  1996  to
$183,708 in 1997. The Partnership as a whole does not receive much  of  its
operating  revenue from oil production. The oil production  sold  combined,
with  the current average oil price per barrel did impact the Partnership's
revenues  favorably.   The overall gas revenue was positively  impacted  by
both   increased average gas prices and increased production.  The  average
price  per  MCF in 1996 and 1997 was $2.45 and $3.07.  Also gas  production
went from 48,837 MCF's in 1996 to 50,149 MCF's in 1997.

  Production  expenses increased from $54,974 in 1996 to $90,778  in  1997.
Occasionally  the  Partnership  may  expend  fund  to  purchase  additional
equipment   or to complete light repairs which , based upon the  operator's
evaluation,  is  designed to increase production or  to  halt  any  further
significant declines. The beneficial  effect looked for by the operator  is
to  increase,  improve or sustain production on a particular  well.   These
costs  are  capitalized  if  they  meet the  appropriate  criteria.   Also,
variable  costs  associated  with production  increased,  for  example  the
related  well taxes which are based upon production data. The current  year
production  expenses  increased as a result  of  a  combination  of  volume
changes, repairs and labor costs associated with the wells and well  sites.
The prior year production expenses were of a normal and recurring nature to
upkeep the wells.

Overall  general  and administrative expenses showed no significant  change
from  1996  to  1997. All related party expenses charged are in  accordance
with  the  guidelines  set forth in the Registrant's Management  Agreement.
PEMC  is reimbursed expenses attributable to the affairs and operations  of
the Partnership.  These costs shall not exceed an annual amount equal to 5%
of  Limited Partner capital contributions. Amounts related to both 1997 and
1996  are  substantially less than the amounts allocable to the  Registrant
under   the  Partnership  Agreement.    PEMC  continues  to  perform  these
functions as cost effectively as possible either through efficient  use  of
in-house resources or using third parties when applicable.

The Partnership records additional depreciation, depletion and amortization
to the extent that net capitalized costs exceed the undercounted future net
cash flows attributable to the Partnership properties. The Partnership  was
not  required to revise the properties basis in either 1996 or  first  half
1997. Depletion, depreciation and amortization expense was consistent  with
the current property basis and the rates applied.
<PAGE>

PART II

Items 1 through 5 have been omitted in that each item is either
inapplicable or the answer is negative.

Item 6: Exhibits and Reports on Form 8-K
The Partnership was not required to file any reports on Form 8-K and
no such form was filed during the period covered by this report.

Exhibit 27 - Financial Data Schedule is attached to the electronic
filing of this report.







<PAGE>

                                     

                            S I G N A T U R E S





Pursuant to the requirements of Section 13 or 15 (d) of the Securities and

Exchange Act of 1934, Registrant has duly caused this report to be signed

on its behalf by the undersigned, thereunto duly authorized.







                                         STERLING GAS DRILLING FUND 1982
                                                      (Registrant)



                                            BY: /S/ Charles E. Drimal Jr.
                                               -----------------------
                                               Charles E. Drimal, Jr.
                                               General Partner





August 14, 1997
(Date)











                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                              Balance Sheets
                                            June 30,        December 31,
                                              1997              1996
                                            (unaudited)         (audited)
Assets                                                                   
Current Assets:                                                          
  Cash and cash equivalents            $             21 $              34
                                            -----------     -------------
      Total current assets                           21                34
                                                                         
Oil and Gas properties -                                                 
successful efforts method:                                               
  Leasehold costs                               466,804           466,804
  Well and related facilities                11,965,181        11,959,534
   less accumulated depreciation,                                        
     depletion and amortization             (11,691,353)      (11,671,934)
                                            -----------     -------------
                                                273,828           334,284
                                            -----------     -------------
       Total assets                    $        740,653 $         754,438
                                            ===========     =============
                                                                  
Liabilities and Partners' Equity                                  
  Current liabilities:                                            
   Due to affiliates                   $        336,439 $         373,007
                                            -----------     -------------
        Total current liabilities               336,439           373,007
                                            -----------     -------------
                                                                         
  Partners' Equity                                                       
   Limited partners                             688,509           672,221
   General partners                            (284,295)         (290,790)
                                            -----------     -------------
         Total partners' equity                 404,214           381,431
                                            -----------     -------------
                                                                         
         Total liabilities and                                           
          partners' equity             $        740,653 $         754,438
                                            ===========     =============
                                                                         



See accompanying footnote to the financial statements
<PAGE>
                                     
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Six Months Ending
                                     June 30, 1997

                                    Limited      General          
                                   Partners      Partners       Total
Revenue:                                                      
Operating revenue              $      154,590      29,118   $   183,708
                                     --------    --------       -------
  Total Revenue                       154,590      29,118       183,708
                                     --------    --------       -------
                                                                       
Costs and Expenses:                                                    
Production expense                     76,390      14,388        90,778
General and administrative                                             
 to a related party                    31,556       5,944        37,500
General and administrative             11,131       2,097        13,228
Depreciation, depletion                                                
 and amortization                      19,225         194        19,419
                                     --------    --------       -------
  Total Costs and Expenses            138,302      22,623       160,925
                                     --------    --------       -------
  Net Income                   $       16,288       6,495   $    22,783
                                     ========    ========       =======
                                                                       
Net Income per equity unit     $         1.13                          
                                       ======                          


See accompanying footnote to the financial statements
<PAGE>
                                     
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Six Months Ending
                                     June 30, 1996

                                    Limited      General          
                                   Partners      Partners       Total
Revenue:                                                      
Operating revenue              $      110,197      20,756   $   130,953
                                     --------    --------       -------
  Total Revenue                       110,197      20,756       130,953
                                     --------    --------       -------
                                                                       
Costs and Expenses:                                                    
Production expense                     46,261       8,713        54,974
General and administrative                                             
 to a related party                    31,556       5,944        37,500
General and administrative             10,106       1,903        12,009
Depreciation, depletion                                                
 and amortization                      20,194         204        20,398
                                     --------    --------       -------
  Total Costs and Expenses            108,117      16,764       124,881
                                     --------    --------       -------
  Net Income                   $        2,080       3,992   $     6,072
                                     ========    ========       =======
                                                                       
Net Income per equity unit     $          .14                          
                                       ======                          
                                     
See accompanying footnote to the financial statements
<PAGE>
                                     
                                     
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                  Three Months Ending
                                     June 30, 1997

                                  Limited       General       
                                  Partners      Partners      Total
Revenue:                                                      
Operating revenue              $      73,576       13,859   $    87,435
                                    --------     --------     ---------
  Total Revenue                       73,576       13,859        87,435
                                    --------     --------     ---------
                                                                       
Costs and Expenses:                                                    
Production expense                    35,619        6,709        42,328
General and administrative                                             
 to a related party                   15,778        2,972        18,750
General and administrative             7,057        1,330         8,387
Depreciation, depletion                                                
 and amortization                      9,648           97         9,745
                                    --------     --------     ---------
  Total Costs and Expenses            68,102       11,108        79,210
                                    --------     --------     ---------
  Net Income                   $       5,474        2,751   $     8,225
                                    ========     ========     =========
                                                                       
Net Income per equity unit     $         .38
                                    ========                           


See accompanying footnote to the financial statements
<PAGE>
                                     
                                     
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                  Three Months Ending
                                     June 30, 1996

                                  Limited       General      
                                  Partners      Partners     Total
Revenue:                                                     
Operating revenue              $      57,862       10,898  $     68,760
                                    --------     --------     ---------
  Total Revenue                       57,862       10,898        68,760
                                    --------     --------     ---------
                                                                       
Costs and Expenses:                                                    
Production expense                    26,370        4,966        31,336
General and administrative                                             
 to a related party                   15,778        2,972        18,750
General and administrative             6,309        1,188         7,497
Depreciation, depletion                                                
 and amortization                     10,134          102        10,236
                                    --------     --------     ---------
  Total Costs and Expenses            58,591        9,228        67,819
                                    --------     --------     ---------
  Net Income(loss)             $        (729)       1,670  $        941
                                    ========     ========     =========
Net Income(loss)                                                       
    per equity unit            $        (.05)
                                    ========                           

See accompanying footnote to the financial statements

<PAGE>

                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)
                                     
                                    Six Months Ended
                                     June 30, 1997


                                Limited         General         
                                Partners        Partners        Total
                                                                
Balance at beginning of                                                 
period                        $     672,221      (290,790)       381,431
  Net Income(Loss)                   16,288         6,495         22,783
                                   --------       --------      --------
Balance at end of period      $     688,509      (284,295)       404,214
                                   ========       ========      ========
                                            
                                            
                                    Six Months Ended
                                      June 30, 1996
                                     
                                Limited         General         
                                Partners        Partners        Total
                                                                
Balance at beginning of                                                 
period                        $     656,941      (300,837)   $   356,104
  Net Income(Loss)                    2,080         3,992          6,072
                                   --------       --------      --------
Balance at end of period      $     659,021      (296,845)  $    362,176
                                   ========       ========      ========
                                     
See accompanying footnote to the financial statements

<PAGE>
                                     
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)
                                     
                                   Three Months Ended
                                     June 30, 1997


                                   Limited         General      
                                   Partners        Partners     Total
                                                                
Balance at beginning of                                                 
period                       $        683,035       (287,046)    395,989
  Net Income(Loss)                      5,474           2,751      8,225
                                     --------        --------   --------
Balance at end of period     $        688,509       (284,295)    404,214
                                     ========        ========   ========
                                              
                                              
                                     Three Months Ended
                                       June 30, 1996
                                              
                                   Limited         General      
                                   Partners        Partners     Total
                                                                
Balance at beginning of                                                 
period                       $        659,750    $  (298,515) $  361,235
  Net Income(Loss)                      (729)           1,670        941
                                     --------        --------   --------
Balance at end of period     $        659,021    $  (296,845) $  362,176
                                     ========        ========   ========



See accompanying footnote to the financial statements
                                     
<PAGE>
                                     
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Cash Flows
                                (unaudited)
                                     
                                        Six months      Six months
                                          ended           ended
                                         June 30,        June 30,
                                           1997            1996
                                                                   
Net cash provided by operating                                     
activities                           $        5,634  $        2,860
                                         ----------      ----------
Cash(used in)investment activities:                                
  Investment in wells and related                                  
      facilities                             (5,647)         (2,865)
                                         ----------      ----------
 Net Cash used in investment                                       
      activities                             (5,647)         (2,865)
                                                                   
Net increase(decrease) in cash and                                 
   cash equivalents                             (13)             (5)
Cash and cash equivalents at                                       
  beginning of period                            34              24
                                         ----------      ----------
Cash and cash equivalents at end of                                
period                               $           21  $           19
                                         ==========      ==========
                                                                   
                                                                   
                                                                   
                                                       
                                                                   
                                                       
                                                       

See accompanying footnote to the financial statements


<PAGE>
                 STERLING GAS DRILLING FUND 1982
                (a New York limited partnership)
                                
                  Note to Financial Statements
                                
                          June 30, 1997
                                
                                
                                
1.    The accompanying statements for the period ending June  30,
1997  are  unaudited,  but reflect all adjustments  necessary  to
present fairly the results of operations.