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 September 30, 1998

                                    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> 1
PART I
Item 1.       Financial Statements
The following Financial Statements are filed herewith:

Balance Sheets - September 30, 1998 and December 31, 1997.

Statements of Operations for the Nine and the Three Months Ended September 30,
1998 and 1997.

Statements of Changes in Partners' Equity for the Nine and the Three Months
Ended September 30, 1998 and September 30, 1997.

Statements of Cash Flows for the Nine Months Ended  September 30, 1998  and
1997.

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
September  30,  1998,the General Partners have distributed to  the  Limited
Partners $1,402,512 or 9.76% of total capital contributions to the  Limited
Partners.

All  aspects of the Partnership's operations and administration are handled
through the use of the managing general partner's computer systems.   Both,
the operating company and the managing general partner are taking steps  to
minimize any potential computer issues with regard to any necessary changes
for  the year 2000.  A complete system upgrade, which includes but  is  not
limited  to, the year 2000 issue has been implemented by both the operating
company and the managing general partner. During the remainder of this year
both companies will continue to monitor, test and verify data in detail  to
avoid any potential reporting concerns or delays.


<PAGE> 2

      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, 1997  was  approximately  $
904,800  as  compared  to  the  December 31, 1996  value  of  approximately
$928,400.  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.


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 -

Operating  revenues decreased from $268,797 in 1997 to $ 235,721  in  1998.
The  Partnership  experienced lower overall gas and oil production  ,  from
76,311  MCF and 1,601 BBLS in 1997 to  72,645 MCF and 801BBLS in 1998.  The
average prices changed from $3.06 per MCF and $18.33 per barrel in 1997  to
$3.12 per MCF and $ 11.74 per barrel in 1998. The Partnership's oil revenue
declined  substantially due to lower average price combined with lower  oil
production. The slightly higher average gas price did partially offset  any
negative impact from lower gas production.  The drop in gas production  can
be  attributed to shut-ins of the purchaser's transport line  for  repairs.
Production  expenses decreased from $145,804 in 1997 to $110,700  in  1998.
During  1997, these expenses included related to weather conditions,  which
necessitated additional maintenance, location, access road work  and  other
repairs.   The  expenses associated with 1998 production  included  normal,
recurring maintenance and repairs.

General  and  administrative  expenses  are  segregated  on  the  financial
statements  to  show  expenses paid to PrimeEnergy  Management  Corporation
(PEMC), a General Partner.  The expenses charged are in accordance with the


<PAGE> 3
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  1998  and
1997  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 undiscounted future net
cash  flow  attributable  to  the  Partnership  properties.  No  additional
depreciation, depletion or amortization was needed in  1997 or in the three-
quarters of 1998. The expense recorded is consistent with the current basis
of the Partnership's properties.


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> 4

                            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





November 12, 1998
(Date)











<PAGE> 5
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                              Balance Sheets
                                     
                                          September 30,     December 31,
                                              1998              1997
                                           (unaudited)       (audited)
Assets                                                                   
Current Assets:                                                          
  Cash and cash equivalents            $              6 $               7
                                            -----------     -------------
      Total current assets                            6                 7
                                                                         
Oil and Gas properties -                                                 
successful efforts method:                                               
  Leasehold costs                               466,804           466,804
  Well and related facilities                11,970,091        11,970,091
   less accumulated depreciation,           (11,738,585)      (11,710,869)
    depletion and amortization
                                            -----------     -------------
                                                698,310           726,026
                                            -----------     -------------
       Total assets                    $        698,316 $         726,033
                                            ===========     =============
                                                                  
Liabilities and Partners' Equity                                  
  Current liabilities:                                            
   Due to affiliates                   $        278,324 $         322,146
                                           ------------     -------------
        Total current liabilities               278,324           322,146
                                            -----------     -------------
                                                                         
  Partners' Equity                                                       
   Limited partners                             694,773           685,336
   General partners                            (274,781)         (281,449)
                                            -----------     -------------
         Total partners' equity                 419,992           403,887
                                            -----------     -------------
                                                                         
         Total liabilities and                                           
          partners' equity             $        698,316 $         726,033
                                            ===========     =============
                                                                         
                                     
See accompanying note to the financial statements
                                     
                                     
                                     
<PAGE> 6
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Nine Months Ended
                                   September 30, 1998

                                    Limited      General          
                                   Partners     Partners       Total
Revenue:                                                     
Operating revenue              $      198,359 $    37,362  $    235,721
Gain on Sale of equipment                   0           0             0
                                     --------    --------      --------
  Total Revenue                       198,359      37,362       235,721
                                     --------    --------      --------
                                                                       
Costs and Expenses:                                                    
Production expense                     93,154      17,546       110,700
General and administrative                                             
 to a related party                    53,646      10,105        63,751
General and administrative             14,683       2,766        17,449
Depreciation, depletion                                                
 and amortization                      27,439         277        27,716
                                     --------    --------      --------
  Total Costs and Expenses            188,922      30,694       219,616
                                     --------    --------      --------
  Net Income                   $        9,437       6,668  $     16,106
                                     ========    ========      ========
Net Income per equity unit     $          .66                          
                                       ======                          
                                     
See accompanying note to the financial statements.
                                     
                                     
                                     
<PAGE> 7
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Nine Months Ended
                                   September 30, 1997

                                    Limited      General          
                                   Partners     Partners       Total
Revenue:                                                     
Operating revenue              $      226,193 $    42,604  $    268,797
Gain on sale of equipment               1,287          13         1,300
                                     --------    --------      --------
  Total Revenue                       227,480      42,617       270,097
                                     --------    --------      --------
                                                                       
Costs and Expenses:                                                    
Production expense                    122,694      23,110       145,804
General and administrative                                             
 to a related party                    47,334       8,916        56,250
General and administrative             14,262       2,686        16,948
Depreciation, depletion                                                
 and amortization                      28,922         292        29,214
                                     --------    --------      --------
  Total Costs and Expenses            213,212      35,004       248,216
                                     --------    --------      --------
  Net Income                   $       14,268       7,613  $     21,881
                                     ========    ========      ========
Net Income per equity unit     $         0.99                          
                                       ======                          
                                     
See accompanying note to the financial statements.

                                     
<PAGE> 8
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Three Months Ended
                                   September 30, 1998

                                  Limited      General        
                                  Partners     Partners       Total
Revenue:                                                      
Operating revenue              $      66,714       12,566   $    79,280
Gain on sale of equipment                  0            0             0
                                    --------     --------     ---------
  Total Revenue                       66,714       12,566        79,280
                                    --------     --------     ---------
                                                                       
Costs and Expenses:                                                    
Production expense                    33,515        6,313        39,828
General and administrative                                             
 to a related party                   17,881        3,368        21,249
General and administrative             5,708        1,076         6,784
Depreciation, depletion                                                
 and amortization                      9,146           92         9,238
                                    --------     --------     ---------
  Total Costs and Expenses            66,250       10,849        77,099
                                    --------     --------     ---------
  Net Income(loss)             $         464        1,717   $     2,181
                                    ========     ========     =========
Net Income(loss)                                                       
    per equity unit            $         .04
                                    ========                           
                                     
                                     
See accompanying note to the financial statements.
                                     
                                     
<PAGE>  9
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Three Months Ended
                                   September 30, 1997

                                  Limited      General        
                                  Partners     Partners       Total
Revenue:                                                      
Operating revenue              $      71,603       13,486   $    85,089
Gain on sale of equipment               1,287          13         1,300
                                    --------     --------     ---------
  Total Revenue                       72,890       13,499        86,389
                                    --------     --------     ---------
                                                                       
Costs and Expenses:                                                    
Production expense                    46,304        8,722        55,026
General and administrative                                             
 to a related party                   15,778        2,972        18,750
General and administrative             3,131          589         3,720
Depreciation, depletion                                                
 and amortization                      9,697           98         9,795
                                    --------     --------     ---------
  Total Costs and Expenses            74,910       12,381        87,291
                                    --------     --------     ---------
  Net Income(loss)             $     (2,020)        1,118   $     (902)
                                    ========     ========     =========
Net Income(loss)                                                       
    per equity unit            $      (0.14)
                                    ========                           
                                     
                                     
See accompanying note to the financial statements.
<PAGE> 10

                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)
                                     
                                   Nine Months Ended
                                   September 30, 1998


                                  Limited       General         
                                  Partners      Partners        Total
                                                                
Balance at beginning of                                                     
period                         $      685,336      (281,449) $       403,887
  Net Income                            9,437         6,668           16,105
                                     --------     ---------        ---------
Balance at end of period       $      694,773      (274,781) $       419,992
                                     ========     =========        =========
                                             
                                             
                                     Nine Months Ended
                                    September 30, 1997

                                  Limited       General          
                                  Partners      Partners         Total
                                                                 
Balance at beginning of                                                     
period                         $      672,221    (290,790)  $        381,431
  Net Income                           14,268        7,613            21,881
                                     --------    ---------         ---------
Balance at end of period       $      686,489    (283,177)  $        403,312
                                     ========    =========         =========
                                                                 
                                                                 
                                     
See accompanying note to the financial statements.
                                     
                                     
                                     
<PAGE> 11
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)
                                     
                                   Three Months Ended
                                   September 30, 1998


                                  Limited       General        
                                  Partners      Partners       Total
                                                               
Balance at beginning of                                                   
period                         $      694,309    (276,498)   $     417,811
  Net Income(Loss)                        464        1,717           2,181
                                     --------    ---------      ----------
Balance at end of period       $      694,773    (274,781)   $     419,992
                                     ========    =========      ==========
                                             
                                             
                                    Three Months Ended
                                    September 30, 1997

                                  Limited       General         
                                  Partners      Partners        Total
                                                                
Balance at beginning of                                                    
period                         $      688,509    (284,295)   $      404,214
  Net Income(Loss)                    (2,020)        1,118            (902)
                                     --------    ---------       ----------
Balance at end of period       $      686,489    (283,177)   $      403,312
                                     ========    =========       ==========
                                                                
                                                                
                                     
                                     
See accompanying note to the financial statements.
                                     
<PAGE> 12
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Cash Flows
                                (unaudited)
                                     
                                          Nine           Nine
                                         months         months
                                         ended          ended
                                       September      September
                                        30, 1998       30, 1997
                                                      
Net cash provided (used )by                                     
operating activities                 $        (1)  $       9,233
                                       ----------     ----------
                                                                
Cash flows from investing                                       
activities:
  Proceeds from sale of equipment               0          1,300
  Investment in well and related                                
  facilities                                    0       (10,556)
                                        ---------      ---------
Net Cash (used in) investing                                    
activities                                      0        (9,256)
                                        ---------      ---------
                                                                
Net increase(decrease) in cash and                              
  cash equivalents                            (1)           (23)
Cash and cash equivalents at                                    
  Beginning of period                           7             34
                                       ----------     ----------
Cash and cash equivalents at end of                             
period                               $          6  $          11
                                       ==========     ==========
                                                                
                                                                
                                                                
                                                      
                                                                
                                                      
                                                      

See accompanying note to the financial statements.

<PAGE> 13
                 STERLING GAS DRILLING FUND 1982
                (a New York limited partnership)
                                
                  Note to Financial Statements
                                
                       September 30, 1998
                                
                                
                                
1. The accompanying statements for the period ending September
30, 1998 are unaudited, but reflect all adjustments necessary to
present fairly the results of operations.