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, 1996

                                    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 - September 30, 1996 and December 31, 1995.

Statements of Operations for the Nine and the Three Months Ended September 30,
1996 and 1995.

Statements of Changes in Partners' Equity for the Nine and the Three Months
Ended September 30, 1996.

Statements of Cash Flows for the Nine Months Ended  September 30, 1996  and
1995.

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, 1996,  the General Partners have distributed to the Limited
Partners $1,402,512  or 9.76% of total limited partner capital
contributions to the Limited Partners.


The net proved oil and gas reserves of the Partnership are considered to be
a  primary  indicator  of  financial strength and  future  liquidity.   The
present  value  of  unescalated estimated future net  revenues  (SEC  case)
associated  with such reserves, discounted at 10% as of December  31,  1995
was  approximately $664,000 as compared to the December 31, 1994 amount  of
$415,000.  The  increase  in undiscounted future net  cash  flows  for  the
Partnership properties  was caused by higher year end prices in  effect  at
December  31,  1995 compared to lower year end prices as  of  December  31,
1994.  There were no significant changes in the estimated future production
from  the  properties.  It is the opinion of management,  and  the  general
consensus  in  the  industry,  that gas  prices  are  unlikely  to  decline
significantly  below  the  December 31, 1995  price  in  the  near  future.
However,  there  can  be no assurances that such price  declines  will  not
occur,  and   will  not  pose  a  threat  to  the  Partnership's  continued
viability.

<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 -

Operating revenues increased from $197,012 in 1995 to $201,169 in 1996.
The gas production decline from 79,010 MCF in 1995 to 76,407 MCF in 1996
was offset by an average price increase from $ 2.15 per MCF in 1995  to
$2.43 in 1996. The partnership's production decline was due in part to a
main line in the gathering system experiencing a shut in due to maintenance
on the line. This resulted in no production for approximately twenty one
days in August of 1996 on the wells that feed into this main line. All
repairs have been completed  by the system's operator and the line is no
longer shut in. Production expenses increased from $87,405 in 1995 to
$91,633 in 1996. The higher production expenses, in 1996, are attributable
to some severe storms during the late spring and summer of 1996. These
storms resulted in additional cost incurred,  which may include additional
maintenance, location, access road work and other repairs. Most of the
production expenses, in 1995, were to maintain the general upkeep of the
wells and well site.

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
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 1996 and
1995 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. General and
administrative  charges were stable and showed only a minor change from
1995 to 1996.

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  1995 or in the three
quarters of 1996. Although the 1996 expense is lower than 1995, the expense
recorded  is  consistent  with  the  current  basis  of  the  partnership's
properties.


<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





November 8, 1996
(Date)











<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                              Balance Sheets
                                (unaudited)
                                          September 30,     December 31,
                                              1996              1995
Assets                                                                   
Current Assets:                                                          
  Cash and cash equivalents            $             14 $              24
                                            -----------     -------------
      Total current assets                           14                24
                                                                         
Oil and Gas properties -                                                 
successful efforts method:                                               
  Leasehold costs                               466,804           466,804
  Well and related facilities                11,956,834        11,947,691
   less accumulated depreciation,                                         
    depletion and amortization              (11,662,234)      (11,631,308)
                                            -----------     -------------
                                                761,404           783,187
                                            -----------     -------------
       Total assets                    $        761,418 $         783,211
                                            ===========     =============
                                                                  
Liabilities and Partners' Equity                                  
  Current liabilities:                                            
   Due to affiliates                   $        399,667 $         427,107
                                            -----------     -------------
                                                       
        Total current liabilities               399,667           427,107
                                            -----------     -------------
                                                                         
  Partners' Equity                                                       
   Limited partners                             657,101           656,941
   General partners                            (295,350)         (300,837)
                                            -----------     -------------
         Total partners' equity                 361,751           356,104
                                            -----------     -------------
                                                                         
         Total liabilities and                                           
          partners' equity             $        761,418 $         783,211
                                            ===========     =============
                                                                         
                                     
See accompanying note to the financial statements
                                     
                                     
                                     
<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Nine Months Ended
                                   September 30, 1996

                                    Limited      General          
                                   Partners     Partners       Total
Revenue:                                                     
Operating revenue              $      169,284 $    31,885  $    201,169
                                     --------    --------      --------
  Total Revenue                       169,284      31,885       201,169
                                     --------    --------      --------
                                                                       
Costs and Expenses:                                                    
Production expense                     77,109      14,524        91,633
General and administrative             47,334       8,916        56,250
 to a related party
General and administrative             14,064       2,649        16,713
Depreciation, depletion                                                
 and amortization                      30,617         309        30,926
                                     --------    --------      --------
  Total Costs and Expenses            169,124      26,398       195,522
                                     --------    --------      --------
  Net Income(loss)             $          160       5,487  $      5,647
                                     ========    ========      ========
Net Income(loss)                                                       
    per equity unit            $          .01                          
                                       ======                          
                                     
See accompanying note to the financial statements.
                                     
                                     
                                     
                                     
<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                      Nine Months Ended
                                     September 30, 1995

                                    Limited      General          
                                   Partners     Partners       Total
Revenue:                                                     
Operating revenue              $      165,786 $    31,226  $    197,012
                                     --------    --------      --------
  Total Revenue                       165,786      31,226       197,012
                                     --------    --------      --------
                                                                       
Costs and Expenses:                                                    
Production expense                     73,551      13,854        87,405
General and administrative                                             
 to a related party                    47,334       8,916        56,250
General and administrative             14,395       2,711        17,106
Depreciation, depletion                                                
 and amortization                      54,098         546        54,644
                                     --------    --------      --------
  Total Costs and Expenses            189,378      26,027       215,405
                                     --------    --------      --------
  Net Income(loss)             $      (23,592)      5,199  $    (18,393)
                                     ========    ========      ========
Net Income(loss)                                                       
    per equity unit            $        (1.64)                          
                                       ======                          
                                                             
                                     
See accompanying note to the financial statements.
                                     
                                     
<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Three Months Ended
                                   September 30, 1996

                                  Limited      General        
                                  Partners     Partners       Total
Revenue:                                                      
Operating revenue              $      59,087       11,129   $    70,216
                                    --------     --------     ---------
  Total Revenue                       59,087       11,129        70,216
                                    --------     --------     ---------
                                                                       
Costs and Expenses:                                                    
Production expense                    30,848        5,811        36,659
General and administrative            15,778        2,972        18,750
 to a related party
General and administrative             3,958          746         4,704
Depreciation, depletion                                                
 and amortization                     10,423          105        10,528
                                    --------     --------     ---------
  Total Costs and Expenses            61,007        9,634        70,641
                                    --------     --------     ---------
  Net Income(loss)             $      (1,920)       1,495   $      (425)
                                    ========     ========     =========
Net Income(loss)                                                       
    per equity unit            $       (.013)
                                    ========                           
                                     
                                     
See accompanying note to the financial statements.
                                     
                                     
<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Three Months Ended
                                   September 30, 1995

                                  Limited      General       
                                  Partners     Partners      Total
Revenue:                                                     
Operating revenue              $      53,191       10,018 $      63,209
                                    --------     --------     ---------
  Total Revenue                       53,191       10,018        63,209
                                    --------     --------     ---------
                                                                       
Costs and Expenses:                                                    
Production expense                    19,778        3,726        23,504
General and administrative                                             
 to a related party                   15,778        2,972        18,750
General and administrative             2,958          557         3,515
Depreciation, depletion                                                
 and amortization                     18,032          182        18,214
                                    --------     --------     ---------
  Total Costs and Expenses            56,546        7,437        63,983
                                    --------     --------     ---------
  Net Income(loss)             $      (3,355)       2,581 $        (774)
                                    ========     ========     =========
Net Income(loss)                                                       
    per equity unit            $        (.23)
                                    ========                           


See accompanying note to the financial statements.

<PAGE>

                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)
                                     
                                   Nine Months Ended
                                   September 30, 1996


                                  Limited       General         
                                  Partners      Partners        Total
                                                                
Balance at beginning of                                                     
period                         $      656,941      (300,837) $       356,104
  Net Income(Loss)                        160         5,487            5,647
                                     --------     ---------        ---------
Balance at end of period       $      657,101      (295,350) $       361,751
                                     ========     =========        =========
                                             
                                             
                                     Nine Months Ended
                                    September 30, 1995

                                  Limited       General          
                                  Partners      Partners         Total
                                                                 
Balance at beginning of                                                     
period                         $      580,425     (322,813)    $    257,612
  Net Income(Loss)                    (23,592)       5,199          (18,393)
                                     --------     --------        ---------
Balance at end of period       $      556,833     (317,614)    $    239,219
                                     ========     ========       ==========
                                                                 
                                                                 
                                     
See accompanying note to the financial statements.
                                     
                                     
                                     
<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)
                                     
                                   Three Months Ended
                                   September 30, 1996


                                  Limited       General        
                                  Partners      Partners       Total
                                                               
Balance at beginning of                                                   
period                         $      659,021     (296,845)   $   362,176
  Net Income(Loss)                     (1,920)       1,495           (425)
                                     --------    ---------      ----------
Balance at end of period       $      657,101     (295,350)   $   361,751
                                     ========    =========      ==========
                                             
                                             
                                    Three Months Ended
                                    September 30, 1995

                                  Limited       General         
                                  Partners      Partners        Total
                                                                
Balance at beginning of                                                    
period                         $       560,188    (320,195)   $    239,993
  Net Income(Loss)                      (3,355)      2,581            (774)
                                     ---------    ---------      ---------
Balance at end of period       $       556,833    (317,614)   $    239,219
                                     =========    =========      =========
                                                                
                                                                
                                     
                                     
See accompanying note to the financial statements.
                                     
<PAGE>
                        STERLING DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Cash Flows
                                (unaudited)
                                     
                                          Nine           Nine
                                         months         months
                                         ended          ended
                                       September      September
                                        30, 1996       30, 1995
                                                      
Net cash (used in) operating                                    
activities                           $      9,133  $        (32)
                                       ----------      ---------
                                                                
Cash flows from investing                                       
activities:
  Investment in well and related                                
  facilities                               (9,143)            0
                                        ---------      ---------
Net Cash used in investing                                      
activities                                 (9,143)            0
                                        ---------      ---------
                                                                
Net increase(decrease) in cash and                              
  cash equivalents                            (10)          (32)
Cash and cash equivalents at                                    
  beginning of period                          24            43
                                       ----------     ----------
Cash and cash equivalents at end of                             
period                               $         14  $         11
                                       ==========     ==========
                                                                
                                                                
                                                                
                                                      
                                                                
                                                      
                                                      

See accompanying note to the financial statements.
<PAGE>
                      STERLING GAS DRILLING FUND 1982
                     (a New York limited partnership)
                                     
                       Note to Financial Statements
                                     
                            September 30, 1996
                                     
                                     
                                     
1. The accompanying statements for the period ending September 30, 1996 are
unaudited, but reflect all adjustments necessary to present fairly the
results of operations.