<PAGE> 1
                    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 March 31, 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


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                                  PART I

Item 1.       Financial Statements

The following Financial Statements are filed herewith:

Balance Sheets - March 31, 1998 and December 31, 1997.

Statements of Operations for the Three Months Ended March 31, 1998 and 1997.

Statements of Changes in Partners' Equity for the Year Ended
December 31,1997 and for the Three Months Ended March 31, 1998.

Statements of Cash Flows for the Three Months Ended March 31,1998 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 March
31, 1998, 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.

     All aspects of the Partnership's operations and administration are
handled through the use of  the operating and managing general partner's
computer systems.  Both , the operations 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 will be
implemented with in the next nine months by both the operating company and
the managing general partner.   Both companies'  upgrades and year 2000
changes are part of their normal course of business and no material costs
should be allocated to the partnership for the implementation necessary by
either company.


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     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 -

      Overall operating revenues decreased from $96,273 in 1997  to $73,678
in 1998. The partnership receives most of its income from gas producing
wells.   The gas production remained stable, from 24,877 MCF in 1997 to
24,043 MCF in 1998.  The stability of the production was offset by a lower
average price per mcf  from $3.39 in 1997 to $2.96 in 1998.  The
Partnership also experienced a decline in oil revenue due to an decreases
in both oil production and average price per barrel. Production expenses
decreased from $48,450 in 1997 to $28,900 in 1998.   The partnership will
perform additional repairs to the wells and wells site as needed.  Some of
these types of repairs were worked on during the first quarter of 1997.
These costs include those associated with repairs needed for access to the
wells and well sites and the related labor costs. Also, variable costs
associated with production  were higher in 1997 then 1998. An example of
variable costs would be the related well taxes which are based upon
production data. The production expenses incurred in 1998 were of a normal
and recurring nature to upkeep the wells.


<PAGE> 4

Overall general and administrative expenses showed a minor increase from
1997 to 1998. 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
1998 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 reduce the properties basis
in either 1997 or first quarter 1998.  Depletion, depreciation and
amortization expense was consistent with the current property basis and the
rates applied.

 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.


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                            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





May 12, 1998
(Date)











<PAGE> 6

                      STERLING GAS DRILLING FUND 1982
                     (a New York Limited Partnership)
                              Balance Sheets
                                (unaudited)
                                            March 31,       December 31,
                                              1998              1997
Assets                                                                   
Current Assets:                                                          
  Cash and cash equivalents            $              4 $               7
  Due from others                                 2,607                 0
                                            -----------     -------------
      Total current assets                        2,611                 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,                                        
     depletion and amortization             (11,720,107)      (11,710,869)
                                          -------------     -------------
                                                716,788           726,026
                                            -----------     -------------
       Total assets                    $        719,399 $         726,033
                                            ===========     =============
                                                                  
Liabilities and Partners' Equity                                  
  Current liabilities:                                            
   Due to affiliates                   $        305,977 $         322,146
                                            -----------     -------------
        Total current liabilities               305,977           322,146
                                            -----------     -------------
                                                                         
  Partners' Equity                                                       
   Limited partners                             691,988           685,336
   General partners                            (278,566)         (281,449)
                                            -----------     -------------
         Total partners' equity                 413,422           403,887
                                            -----------     -------------
                                                                         
         Total liabilities and                                           
          partners' equity             $        719,399 $         726,033
                                            ===========     =============
                                                                         
                                     
See accompanying note to the financial statements.
                                     
                                     
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                      STERLING GAS DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Three Months Ended
                                     March 31, 1998

                                     Limited     General          
                                    Partners     Partners       Total
Revenue:                                                      
Operating revenue                $      62,000     11,678  $     73,678
                                      --------   --------       -------
  Total Revenue                         62,000     11,678        73,678
                                      --------   --------       -------
                                                                       
Costs and Expenses:                                                    
Production expense                      24,319      4,581        28,900
General and administrative                                             
 to a related party                     17,884      3,369        21,253
General and administrative               3,999        753         4,752
Depreciation, depletion                                                
 and amortization                        9,146         92         9,238
                                      --------   --------       -------
  Total Costs and Expenses              55,348      8,795        64,143
                                      --------   --------       -------
  Net Income                     $       6,652      2,883  $      9,535
                                      ========   ========       =======
Net Income per equity unit       $        0.46                         
                                        ======                         
                                     
See accompanying note to the financial statements.
                                     
                                     
                                     
<PAGE> 8
                      STERLING GAS DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Operations
                                (unaudited)
                                     
                                   Three Months Ended
                                     March 31, 1997

                                    Limited      General          
                                   Partners     Partners       Total
Revenue:                                                     
Operating revenue              $       81,014      15,259  $     96,273
                                     --------    --------       -------
  Total Revenue                        81,014      15,259        96,273
                                     --------    --------       -------
                                                                       
Costs and Expenses:                                                    
Production expense                     40,771       7,679        48,450
General and administrative                                             
 to a related party                    15,778       2,972        18,750
General and administrative              4,074         767         4,841
Depreciation, depletion                                                
 and amortization                       9,577          97         9,674
                                     --------    --------       -------
  Total Costs and Expenses             70,200      11,515        81,715
                                     --------    --------       -------
  Net Income                   $       10,814       3,744  $     14,558
                                     ========    ========       =======
Net Income per equity unit     $         0.75                          
                                       ======                          
                                     
See accompanying note to the financial statements.
                                     
<page 9>
                     STERLING  GAS DRILLING FUND 1982
                     (a New York Limited Partnership)
                 Statement of Changes in Partners' Equity
                                (unaudited)

                                     
                                     

                                 Limited      General         
                                 Partners     Partners        Total
                                                              
Balance at December 31, 1996  $    672,221  $    (290,790)  $  381,431
  Net Income                        13,115          9,341       22,456
                                  --------       --------     --------
Balance at December 31, 1997  $    685,336  $    (281,449)  $  403,887
  Net Income                         6,652          2,883        9,535
                                  --------       --------     --------
Balance at March 31, 1998     $    691,988  $    (278,566)  $  413,422
                                  ========       ========     ========




                                     
See accompanying note to the financial statements.


<PAGE> 10
                      STERLING GAS DRILLING FUND 1982
                     (a New York Limited Partnership)
                          Statement of Cash Flows
                                (unaudited)
                                     
                                            Three months      Three months
                                            ended March       ended March
                                              31,1998           31,1997
                                                             
Net cash provided by/(used in)                                             
operating activities                    $              (3) $          2,834
                                                ----------       ----------
                                                                           
Net cash provided by/(used in)                                             
investing activities
  Equipment purchases                                    0          (2,859)
                                                ----------       ----------
Cash Flow (used in) investing                                             
activities                                               0           (2,859)
                                                                           
                                                                           
                                                                           
Net increase(decrease) in cash and                                         
  cash equivalents                                      (3)             (25)
Cash and cash equivalents at                                               
  beginning of period                                    7               34
                                                ----------       ----------
Cash and cash equivalents at end of                                        
period                                  $                4 $              9
                                                ==========       ==========
                                                                           
                                                                           
                                                                           
                                                             
                                                                           
                                                             
                                                             

See accompanying note to the financial statements.




<PAGE> 11
                      STERLING GAS DRILLING FUND 1982
                     (a New York limited partnership)
                                     
                       Note to Financial Statements
                                     
                              March 31, 1998
                                     
                                     
1. The accompanying statements for the period ending March 31, 1998 are
unaudited, but reflect all adjustments necessary to present fairly the
results of operations