UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549


                            FORM 10-Q


            (MARK ONE)
            [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR
                 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

             For the quarterly period ended March 31, 2000

                                 OR

            [  ]  TRANSITION REPORT PURSUANT TO SECTION 13
                  OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

                  Commission File Number 1-5471

                        GLOBAL MARINE INC.
      (Exact name of registrant as specified in its charter)


           Delaware                            95-1849298
(State or other jurisdiction of             (I.R.S. Employer
incorporation or organization)              Identification No.)


777 N. Eldridge Parkway,  Houston, Texas           77079-4493
(Address of principal executive offices)           (Zip Code)


Registrant's telephone number, including area code: (281) 596-5100


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 [ ]

The number of shares of the registrant's Common Stock, par value $.10
per share, outstanding as of April 28, 2000 was 175,077,855.

<PAGE>

                        GLOBAL MARINE INC.

                  TABLE OF CONTENTS TO FORM 10-Q

                   QUARTER ENDED MARCH 31, 2000


                                                              Page
PART I - FINANCIAL INFORMATION

         Item 1. Financial Statements

         Report of Independent Accountants                       2

         Condensed Consolidated Statement of Income for the
            Three Months Ended March 31, 2000 and 1999           3

         Condensed Consolidated Balance Sheet as of
            March 31, 2000 and December 31, 1999                 4

         Condensed Consolidated Statement of Cash Flows for the
            Three Months Ended March 31, 2000 and 1999           6

         Notes to Condensed Consolidated Financial Statements    7

    Item 2.  Management's Discussion and Analysis of Financial
             Condition and Results of Operations                12

    Item 3.  Quantitative and Qualitative
             Disclosures About Market Risk                      17


PART II - OTHER INFORMATION

    Item 6.  Exhibits and Reports on Form 8-K                   17


SIGNATURE                                                       18

<PAGE>

PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS


                REPORT OF INDEPENDENT ACCOUNTANTS


To the Board of Directors and Shareholders
   of Global Marine Inc.

We have reviewed the accompanying condensed consolidated balance sheet
of Global Marine Inc. and subsidiaries as of March 31, 2000, and the
related condensed consolidated statements of income for each of
the three-month periods ended March 31, 2000 and 1999 and the condensed
consolidated statement of cash flows for the three-month periods ended
March 31, 2000 and 1999.  These financial statements are the responsibility
of the Company's management.

We conducted our review in accordance with standards established by
the American Institute of Certified Public Accountants.  A review of
interim financial information consists principally of applying
analytical procedures to financial data and making inquiries of
persons responsible for financial and accounting matters.  It is
substantially less in scope than an audit conducted in accordance with
generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a
whole.  Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications
that should be made to the accompanying condensed consolidated interim
financial statements for them to be in conformity with generally accepted
accounting principles.

We previously audited in accordance with generally accepted
auditing standards, the consolidated balance sheet as of December 31,
1999, and the related consolidated statements of income, shareholders'
equity, and of cash flows for the year then ended (not presented herein);
and in our report dated February 29, 2000 we expressed an unqualified
opinion on those consolidated financial statements.  In our opinion,
the information set forth in the accompanying condensed consolidated
balance sheet as of December 31, 1999, is fairly stated in all
material respects in relation to the consolidated balance sheet from
which it has been derived.



/s/ PricewaterhouseCoopers LLP

Houston, Texas
May 10, 2000

<PAGE>
<TABLE>

              GLOBAL MARINE INC. AND SUBSIDIARIES
           CONDENSED CONSOLIDATED STATEMENT OF INCOME
            (In millions, except per share amounts)
<CAPTION>
                                                       Three Months Ended
                                                             March 31,
                                                       --------------------
                                                       2000            1999
                                                       ----            ----
<S>                                                   <C>             <C>
Revenues:
 Contract drilling                                    $110.4          $157.0
 Drilling management                                    90.0            70.2
 Oil and gas                                             3.7              .8
                                                      ------          ------
  Total revenues                                       204.1           228.0

Expenses:
 Contract drilling                                      63.6            72.7
 Drilling management                                    82.6            72.7
 Oil and gas                                              .3              .5
 Depreciation, depletion, and amortization              23.4            21.4
 Restructure costs (Note 3)                              5.2             -
 General and administrative                              6.2             5.9
                                                      ------          ------
  Total operating expenses                             181.3           173.2
                                                      ------          ------
  Operating income                                      22.8            54.8

Other income (expense):
 Interest expense                                      (16.8)          (13.4)
 Interest capitalized                                   10.9             4.1
 Interest income                                          .8              .8
                                                      ------          ------
  Total other income (expense)                          (5.1)           (8.5)
                                                      ------          ------
    Income before income taxes                          17.7            46.3

Provision for income taxes (Note 5):
 Current tax provision                                   1.4             2.0
 Deferred tax provision                                  3.7             7.5
                                                      ------          ------
    Total provision for income taxes                     5.1             9.5
                                                      ------          ------
Net income                                            $ 12.6         $  36.8
                                                      ======          ======

Earnings per share (Note 2):
 Basic                                                $ 0.07         $  0.21
 Diluted                                              $ 0.07         $  0.21




    See notes to condensed consolidated financial statements.
</TABLE>
<PAGE>
<TABLE>
               GLOBAL MARINE INC. AND SUBSIDIARIES
               CONDENSED CONSOLIDATED BALANCE SHEET
                         ($ in millions)

                              ASSETS
<CAPTION>
                                                    March 31,     December 31,
                                                       2000           1999
                                                    ----------    ---------
<S>                                                    <C>          <C>
Current assets:
  Cash and cash equivalents                         $     31.8    $    83.3
  Accounts receivable, net of allowances                 110.0        101.1
  Costs incurred on turnkey drilling contracts
     in progress                                           7.7         12.9
  Prepaid expenses                                         9.2         11.2
  Other current assets                                     2.7          4.5
                                                    ----------    ---------
       Total current assets                              161.4        213.0

Properties and equipment:
  Rigs and drilling equipment, less accumulated
     depreciation of $470.7 at March 31, 2000 and
     $450.2 at December 31, 1999                       1,213.2      1,225.8
  Construction in progress                               682.5        632.2
  Oil and gas properties, full-cost method, less
     accumulated depreciation, depletion, and
     amortization of $17.6 at March 31, 2000 and
     $16.3 at December 31, 1999                            9.6         10.6
                                                    ----------    ---------
       Net properties and equipment                    1,905.3      1,868.6

Future income tax benefits                                89.1         90.7
Other assets                                              91.1         92.2
                                                    ----------    ---------
       Total assets                                   $2,246.9     $2,264.5
                                                    ==========    =========

</TABLE>


    See notes to condensed consolidated financial statements.

<PAGE>
<TABLE>
               GLOBAL MARINE INC. AND SUBSIDIARIES
         CONDENSED CONSOLIDATED BALANCE SHEET (Continued)
                         ($ in millions)

               LIABILITIES AND SHAREHOLDERS' EQUITY
<CAPTION>
                                                       March 31,  December 31,
                                                         2000         1999
                                                      ----------   -----------
<S>                                                      <C>          <C>
Current liabilities:
  Current maturities of long-term debt                $     12.9   $       7.9
  Accounts payable                                          74.8          94.0
  Accrued compensation and related employee costs           19.8          21.6
  Accrued income taxes                                       6.5           6.1
  Accrued interest                                           9.9          10.7
  Other accrued liabilities                                 14.5           9.3
                                                      ----------   -----------
        Total current liabilities                          138.4         149.6

Long-term debt                                             913.3         937.8
Capital lease obligation                                    17.9          17.5
Other long-term liabilities                                 23.7          24.6
Contingencies (Note 6)                                         -             -

Shareholders' equity:
  Preferred stock, $0.01 par value, 10 million
    shares authorized, no shares issued or outstanding         -             -
  Common stock, $0.10 par value, 300 million shares
    authorized, 175,007,980 shares and 174,421,339
    shares issued and outstanding at March 31, 2000
    and December 31, 1999, respectively                     17.5          17.4
  Additional paid-in capital                               334.6         328.6
  Retained earnings                                        803.7         791.1
  Accumulated other comprehensive loss                      (2.2)         (2.1)
                                                       ----------  -----------
        Total shareholders' equity                       1,153.6       1,135.0
                                                       ----------  -----------
           Total liabilities and shareholders' equity   $2,246.9      $2,264.5
                                                       ==========  ===========


</TABLE>

    See notes to condensed consolidated financial statements.


<PAGE>
<TABLE>
              GLOBAL MARINE INC. AND SUBSIDIARIES
         CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                         (In millions)
<CAPTION>

                                                            Three Months Ended
                                                                 March 31,
                                                          ----------------------
                                                           2000           1999
                                                          ------          ------

<S>                                                       <C>              <C>
Cash flows from operating activities:
  Net income                                              $ 12.6          $ 36.8
  Adjustments to reconcile net income to net
    cash flow provided by operating activities:
   Depreciation, depletion, and amortization                23.4            21.4
   Deferred income taxes                                     3.7             7.5
   (Increase) decrease in accounts receivable               (9.1)           42.7
   Decrease in costs incurred on turnkey
     drilling contracts in progress                          5.2             4.6
   Decrease in other current assets                          3.5             4.0
   Decrease in noncurrent receivables                          -             3.3
   Decrease in accounts payable                            (19.2)          (30.5)
   Decrease in accrued interest                              (.8)            (.1)
   Increase (decrease) in other accrued liabilities          3.8            (2.9)
   Other, net                                                (.1)            5.5
                                                          ------          ------
     Net cash flow provided by operating activities         23.0            92.3

Cash flows from investing activities:
  Capital expenditures                                     (59.7)          (98.6)
  Proceeds from sales of properties and equipment             .6              .3
  Proceeds from maturities of held-to-maturity securities     .3               -
                                                          ------          ------
     Net cash flow used in investing activities            (58.8)          (98.3)

Cash flows from financing activities:
  Increases in long-term debt                              237.3               -
  Reductions of long-term debt                            (256.9)              -
  Proceeds from exercises of employee stock options          3.9              .2
                                                          ------          ------
     Net cash flow (used in) provided by
     financing activities                                  (15.7)             .2
                                                          ------          ------
Decrease in cash and cash equivalents                      (51.5)           (5.8)
Cash and cash equivalents at beginning of period            83.3            56.9
                                                          ------          ------
Cash and cash equivalents at end of period               $  31.8         $  51.1
                                                          ======          ======


</TABLE>
    See notes to condensed consolidated financial statements.

<PAGE>

               GLOBAL MARINE INC. AND SUBSIDIARIES
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                          MARCH 31, 2000

NOTE 1 - GENERAL

The financial statements reflect all adjustments which are, in the
opinion of management, necessary for  a fair statement of the results
for the interim periods.  Such adjustments are considered to be of a
normal recurring nature unless otherwise identified.

The year-end condensed consolidated balance sheet was derived from
audited financial statements but does not include all disclosures
required by generally accepted accounting principles.

The term "Company" refers to Global Marine Inc. and, unless the
context otherwise requires, to the Company's consolidated
subsidiaries.

These interim financial statements should be read in conjunction with
the Company's audited financial statements for the year ended December
31, 1999.

NOTE 2 - EARNINGS PER SHARE

A reconciliation of the numerators and denominators of the basic and
diluted per-share computations for net income follows:

<TABLE>
<CAPTION>
                                           Three Months Ended March 31,
                                           ----------------------------
                                             2000                1999
                                           --------            --------
                                      ($ in millions, except per share data)

<S>                                      <C>                 <C>
Net income (numerator):                       $ 12.6              $ 36.8
                                              ======              ======
Shares (denominator):
    Shares - Basic                       174,661,083         173,471,107
    Effect of employee stock options       3,407,410           1,818,359
                                         -----------         -----------
    Shares - Diluted                     178,068,493         175,289,466
                                         ===========         ===========

Earnings per share:
    Basic                                      $0.07               $0.21
    Diluted                                    $0.07               $0.21
</TABLE>

NOTE 3 - RESTRUCTURE COSTS

In the first quarter of 2000, the Company began implementing a
restructuring plan designed to streamline its organization and improve
efficiency.  The plan involves a workforce reduction of approximately
89 positions, a consolidation of administrative offices in Houston and
Europe, and closure of a materials control facility in Houston.  The employee
functions affected are primarily corporate support in nature and include
materials control, engineering, accounting, and information technology,
among others.  Approximately 80 percent of the affected positions are
located in Houston, and the remaining 20 percent are located in Europe.
The Company recorded a $5.2
<PAGE>
million pretax charge in the first quarter of
2000 in connection with the restructuring, consisting of $4.3 million for
employee severance costs and $0.9 million for office and facility closures.
Cash payments for severance could be paid over various periods ranging from
six weeks to twelve months from the date of termination, based on salary
grade and length of service.  Cash payments through March 31, 2000 under
the restructuring totaled $1.1 million, comprised entirely of employee
severance.


NOTE 4 - SEGMENT AND GEOGRAPHIC INFORMATION

Information by operating segment, together with reconciliations to the
consolidated totals, is presented in the following table:
<TABLE>
<CAPTION>
                                                Three Months Ended
                                                     March 31,
                                             -----------------------
                                               2000            1999
                                             -------         -------
                                                  (In millions)

<S>                                          <C>             <C>
Revenues from  external customers:
   Contract drilling                         $ 110.4         $ 157.0
   Drilling management services                 90.0            70.2
   Oil and gas                                   3.7              .8
                                             -------         -------
   Consolidated                              $ 204.1         $ 228.0
                                             =======         =======

Intersegment revenues:
   Contract drilling                         $   1.9         $   3.0
   Drilling management services                  2.7             1.9
   Intersegment eliminations                    (4.6)           (4.9)
                                             -------         -------
   Consolidated                              $     -         $     -
                                             =======         =======

Total revenues:
   Contract drilling                         $ 112.3         $ 160.0
   Drilling management services                 92.7            72.1
   Oil and gas                                   3.7              .8
   Intersegment eliminations                    (4.6)           (4.9)
                                             -------         -------
   Consolidated                              $ 204.1         $ 228.0
                                             =======         =======

Operating income:
   Contract drilling                         $  25.6         $  63.9
   Drilling management services                  7.3            (2.6)
   Oil and gas                                   2.1             (.2)
   Restructure costs                            (5.2)              -
   Corporate expenses                           (7.0)           (6.3)
                                             -------         -------
   Consolidated                              $  22.8         $  54.8
                                             =======         =======

</TABLE>
<PAGE>

A reconciliation of segment operating income to consolidated income
before income taxes follows:

<TABLE>
<CAPTION>
                                                Three Months Ended
                                                     March 31,
                                              -----------------------
                                               2000             1999
                                              ------           ------
                                                   (In millions)

<S>                                           <C>              <C>
 Consolidated operating income                $ 22.8           $ 54.8
 Interest expense                              (16.8)           (13.4)
 Interest capitalized                           10.9              4.1
 Interest income                                  .8               .8
                                              ------           ------
  Income before income taxes                  $ 17.7           $ 46.3
                                              ======           ======

</TABLE>

NOTE 5 - INCOME TAXES

The Company's effective income tax rate for financial reporting purposes
was approximately 29 percent in the first quarter of 2000, as compared to
an effective rate of 21 percent for the first quarter of 1999 and the
U.S. federal statutory rate of 35 percent.  The Company's effective tax
rate for a quarter is estimated based on the Company's projected annual
income and relative amounts of U.S. and foreign income.  Because of the
differences between U.S. and foreign tax rates, the Company's effective
income tax rate can be expected to fluctuate from year to year as the
relative amounts of the Company's U.S. and foreign earnings fluctuate.

NOTE 6 - CONTINGENCIES

In 1998 the Company entered into fixed-price contracts with Harland
and Wolff Shipbuilding and Heavy Industries Limited (the
"Shipbuilder") totaling $315 million for the construction of two
dynamically positioned, ultra-deepwater drillships, the GLOMAR C.R.
LUIGS and the GLOMAR JACK RYAN, for delivery in the fourth quarter of
1999 and first quarter of 2000, respectively.  Pursuant to two fully-
defeased long-term lease agreements, the Company has novated the
construction contracts for the drillships to two financial
institutions, which now own the drillships and have agreed to lease
them to the Company.  The Company acts as the lessors' construction
supervisor and, to date, has paid on behalf of the lessors, or
provided for the lessors' payment of, all amounts it believes are
required under the terms of the contracts, including payments for all
approved change orders.

In October 1999 the Company received a claim from the Shipbuilder
alleging breach of contract in connection with the Company's
obligations regarding design of the drillships, the timely delivery to
the Shipbuilder of owner-furnished equipment, and design change
orders.  In its claim, the Shipbuilder also requested additional
compensation for increases in the drillships' steel weight.  The
amount of the Shipbuilder's claim in excess of the contract price
totals GBP 133 million ($216 million).  With the exception of a small
portion of the steel-weight claim, the Company believes that the claim
is totally without merit. The contracts provide that such claims are
to be resolved through arbitration in London.

<PAGE>
Because the Company was concerned about the Shipbuilder's financial
viability and the satisfactory completion of the drillships, in
November 1999 the Company agreed to provide additional funding to the
Shipbuilder for completion of the two drillships in exchange for
certain assurances by the Shipbuilder and its parent, Fred. Olsen
Energy ASA (the "Funding Agreement").

Under the terms of the Funding Agreement, the Company released two
cash collateralized letters of credit, giving the Shipbuilder access
to $40 million of its own funds.  In addition, the Company agreed to
advance to the Shipbuilder, without prejudice to any issues of
liability under the shipbuilding contracts, GBP 57 million
($93 million) above the drillships' $315 million contract price.  The
Company also agreed to advance amounts equal to half of subsequent
cost overruns until the Company's total advances under the Funding
Agreement reach GBP 65 million ($106 million).  As of May 8, 2000,
the Company had advanced GBP 57 million ($93 million) under the
Funding Agreement and had agreed to pay an additional GBP 4 million
($6.1 million) in connection with its share of cost overruns.  If the
maximum advances of GBP 65 million are made by the Company, the Shipbuilder's
parent, Fred. Olsen Energy ASA, has agreed to provide all additional
funds necessary to keep the Shipbuilder solvent and working in an
expeditious and diligent manner and to enable it to deliver the two
completed drillships.  In addition, the Shipbuilder's parent will guarantee
up to GBP 3 million ($4.9 million) of the Shipbuilder's warranty with respect
to the two drillships.  The GLOMAR C.R. LUIGS was delivered on March 16, 2000,
and the GLOMAR JACK RYAN is presently scheduled for delivery in the
third quarter of 2000.

The Funding Agreement did not settle any portion of the Shipbuilder's
claim of GBP 133 million ($216 million).  The agreement provides
that the Shipbuilder will repay to the Company amounts advanced
under the Funding Agreement to the extent the amount of the
advanced funds exceeds any arbitration award in favor of the
Shipbuilder and that the Company shall pay the Shipbuilder to the
extent any arbitration award in favor of the Shipbuilder exceeds the
funds so advanced.  In view of the current financial condition of the
Shipbuilder, collection from the Shipbuilder of any amounts to which
the Company may be entitled under the Funding Agreement is doubtful.

The Company is seeking to resolve a dispute with Sedco Forex Offshore
("Sedco") with respect to a bareboat charter agreement for the
drilling rig, GLOMAR GRAND BANKS.  The Company assumed rights to the
bareboat charter at the time it acquired ownership of the rig in 1997.
At issue are (i) the date of termination of the charter, (ii) the
condition of the rig upon its return to the Company, and (iii) Sedco's
liability to pay additional dayrate.  With regard to the first issue,
the Company has contended that the charter expired on January 20,
1998.  The parties commenced arbitration proceedings, and the
arbitration panel ruled in favor of the Company on that issue.  With
respect to the other issues, the Company contends Sedco is responsible
under the charter for paying the cost of certain repairs to the rig
and for paying a market dayrate for the period following termination
of the charter and while the rig was in the shipyard for repairs prior
to its return to work for another customer.  Sedco finished using the
rig for drilling in May 1998, at which time the rig entered a shipyard
to undergo the repairs at issue.  The Company completed the repairs in
October 1998 and mobilized the rig to the east coast of Canada, where
it has been operating for another customer since December 1998.  An
arbitration hearing in respect of certain preliminary legal issues has
been scheduled for late May 2000.  Full evidentiary hearings have been
scheduled to begin in September 2000, and the Company expects that
additional hearings will be required in 2001.  Schlumberger Limited,
the parent of Sedco at the time the claims arose, has issued a
<PAGE>
guaranty in favor of the Company in the amount of $140 million as
security for any award ultimately handed down by the arbitration
tribunal.

The Company has recorded a noncurrent receivable from Sedco in the
amount of $57.8 million at March 31, 2000, consisting of $34.6 million
of costs incurred in connection with rig repairs for which the Company
contends Sedco is responsible and $23.2 million of dayrate revenue
recognized in 1998 in connection with the arbitration ruling. The
total amount of the receivable from Sedco recorded at December 31,
1999 was $56.7 million.

The Company is involved in various lawsuits resulting from personal
injury and property damage.  In the opinion of management, resolution
of these matters will not have a material adverse effect on the
Company's results of operations, financial position, or cash flows.

NOTE 7 - NEW CREDIT FACILITY

In April 2000 the Company entered into an unsecured $50 million
committed revolving bank credit facility with two major banks.  Under
the terms of the facility, the Company can borrow up to $50 million at
rates generally equal to the then-current Eurodollar rate plus an applicable
margin, which, based on the Company's current credit rating, is 0.475
percent.  The credit facility, which expires October 31, 2000, contains
financial covenants that are identical to those under the Company's other
bank credit facilities.  There were no borrowings under this new credit
facility as of May 10, 2000.

<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

OPERATING RESULTS

Summary

Data relating to the Company's operations by business segment follows:

<TABLE>
<CAPTION>
                                             Three Months Ended
                                                  March 31,
                                          ------------------------     Increase
                                           2000              1999     (Decrease)
                                          ------            ------    ----------
                                               ($ in millions)
<S>                                       <C>               <C>           <C>
Revenues:
  Contract drilling                       $112.3            $160.0        (30%)
  Drilling management                       92.7              72.1         29%
  Oil and gas                                3.7                .8        363%
  Less: Intersegment revenues               (4.6)             (4.9)        (6%)
                                          ------            ------
                                          $204.1            $228.0        (10%)
                                          ======            ======

Operating income:
  Contract drilling                        $ 25.6            $ 63.9       (60%)
  Drilling management                         7.3              (2.6)        na
  Oil and gas                                 2.1               (.2)        na
  Restructure costs                          (5.2)                -         na
  Corporate expenses                         (7.0)             (6.3)        11%
                                           -------           -------
                                            $ 22.8            $ 54.8       (58%)
                                           =======           =======

</TABLE>
Operating income decreased by $32.0 million to $22.8 million for the
first quarter of 2000 from $54.8 million for the first quarter of
1999.  The decline was primarily attributable to decreases in average
dayrates and rig utilization for contract drilling, partially offset
by higher income from drilling management services.  Operating income
for the first quarter of 2000 included a one-time $5.2 million charge
in connection with a planned restructuring comprised of a workforce
reduction and consolidation of facilities.

Since the third quarter of 1999, the Company has seen continued
improvement in the U.S. Gulf of Mexico and offshore West Africa, its
two largest markets.  In the U.S. Gulf of Mexico, the Company's
average rig utilization rate was 100 percent in the first quarter of
2000, as compared to an industry average rate of 74 percent for the
region.  In West Africa, where four of the Company's rigs were cold-
stacked at year-end 1999, the Company recently reactivated two rigs
and expects a third rig to reenter service in May 2000.  In addition,
the GLOMAR ROBERT F. BAUER drillship, which had been cold-stacked in
Peru since June 1999, returned to work offshore West Africa in April
2000.  Drilling markets in the North Sea continue to lag other major
markets but have recently showed signs of improvement, particularly
for jackup rigs.  While the North Sea market may or may not remain
soft during 2000, activity in that region has historically increased
as summer approaches.  Overall, the Company's outlook for the future
is positive as oil company budgets and surveys of capital spending
plans for 2000 indicate average increases of more than 10 percent over
1999 levels.  The Company believes that if commodity prices remain in
the current range, actual spending will exceed budgeted estimates.

<PAGE>
On March 16, 2000, the Company took delivery of the GLOMAR C.R. LUIGS,
the first of two newly constructed, dynamically-positioned, ultra-
deepwater drillships.  The GLOMAR C.R. LUIGS entered service on April
21, 2000, for the first of two customers under contracts totaling
three years.  Total revenues to be generated over the three-year
period are estimated to be $227 million.  Construction of the second
drillship, the GLOMAR JACK RYAN, is approximately 90 percent complete.
The GLOMAR JACK RYAN is presently scheduled for delivery in the third
quarter of 2000.  Following delivery, the rig will begin a three-year,
$225 million contract.  The Company's active fleet will total thirty-
three rigs, including ten deepwater rigs, with the addition of these
two drillships.

At March 31, 2000, the Company had $1.0 billion of contract drilling
backlog, which is expected to be realized as follows: $353 million
during the remainder of 2000, $280 million in 2001, and $368 million
in 2002 through 2003.  Contract drilling backlog at December 31, 1999
was $1.0 billion.

The Company expects earnings in the second quarter of 2000 to exceed
first-quarter results as a result of the improvements in dayrates and
utilization and the commencement of operations of the GLOMAR C.R.
LUIGS.

Contract Drilling Operations

Data with respect to the Company's contract drilling operations
follows:

<TABLE>
<CAPTION>
                                              Three Months Ended
                                                    March 31,
                                           --------------------------   Increase
                                             2000              1999    (Decrease)
                                           -------           -------   ----------

<S>                                        <C>               <C>          <C>
Contract drilling revenues
   by area (in millions): (1)
     Gulf of Mexico                        $  54.9           $  56.3       (2%)
     West Africa                              24.3              27.3      (11%)
     North Sea                                18.5              43.5      (57%)
     Other                                    14.6              32.9      (56%)
                                           -------           -------
                                           $ 112.3           $ 160.0      (30%)
                                           =======           =======

Average rig utilization (2)                    76%               85%
Fleet average dayrate                      $52,000           $66,700

----------------------------------------------
(1)   Includes revenues earned from affiliates.
(2)   Excludes the GLOMAR BEAUFORT SEA I concrete island drilling
      system,  a currently inactive, special-purpose mobile offshore
      rig designed for arctic operations.

</TABLE>
Of the $47.7 million decrease in contract drilling revenues for the
first quarter of 2000 as compared with the comparable quarter of 1999,
$36.4 million was attributable to a decrease in average dayrates, and
$11.3 million was attributable to a decrease in average rig
utilization, primarily attributable to the North Sea.  The lower
dayrates were due in part to the expiration of higher dayrate
contracts signed when market rates were higher and unanticipated rig
downtime attributable primarily to repair work on certain deepwater
rigs, the latter of which resulted in a loss of dayrate of
approximately $5.2 million.

In the first quarter of 2000, the Company averaged 100 percent
utilization for its rigs in the U.S. Gulf of Mexico and 60 percent in
both the North Sea and West Africa.  This compares with first quarter 1999
<PAGE>
utilization of Company rigs of 97 percent in the U.S. Gulf of
Mexico, 95 percent in the North Sea, and 54 percent in West Africa.

The mobilization of rigs between the geographic areas shown in the
preceding table also affected each area's revenues over the periods
indicated.  Specifically, the Company mobilized one drillship from
West Africa to offshore Peru in April 1999, one drillship from the
U.S. Gulf of Mexico to West Africa in May 1999, two jackups from West
Africa to the U.S. Gulf of Mexico in October 1999, and one jackup from
the North Sea to the U.S. Gulf of Mexico in January 2000.

The Company's operating profit margin for contract drilling operations
decreased to 23 percent for the first quarter of 2000 from 40 percent
in the first quarter of 1999.  The decrease in operating profit margin
was primarily the result of lower average dayrates and rig
utilization.  Contract drilling operating expenses decreased by $9.4
million primarily due to lower expenses in connection with the
Company's cold-stacked rigs.  In the first quarter of 2000, the
Company had as many as nine cold-stacked rigs (five as of March 31,
2000) as compared to six cold-stacked rigs during the first quarter of
1999.

As of May 8, 2000, fifteen of the Company's rigs were located in the
U.S. Gulf of Mexico, nine were offshore West Africa, five were in the
North Sea, and one was offshore each of Argentina, Trinidad, and
Canada.  As of May 8, 2000, four of the Company's thirty-two active
rigs were without contracts or commitments.

Drilling Management Services

Drilling management services revenues increased by $20.6 million to
$92.7 million in the first quarter of 2000 from $72.1 million in the
first quarter of 1999.  The increase in revenues consisted of a $35.0
million increase attributable to an increase in the number of turnkey
projects, partly offset by an $8.4 million decrease attributable to
daywork and other revenues and a $6.0 million decrease attributable to
lower average revenues per turnkey project.  The Company completed 36
turnkey projects in the first quarter of 2000 (29 wells drilled and
seven well completions) as compared to 20 turnkey projects in the
first quarter of 1999 (18 wells drilled and two well completions).

Drilling management services operating income increased by $9.9
million to $7.3 million in the first quarter of 2000 from a loss of
$2.6 million in the first quarter of 1999.  The improvement in the
first quarter of 2000 as compared to the first quarter of 1999 was
primarily due to a decrease in the number of rigs under term contract
to the Company.  During 1999, the Company was paying above-
market rates for the use of as many as sixteen rigs under term
contracts signed in late 1997 and early 1998, when market rates were
higher.  The incremental cost of these rigs above what they would have
cost if contracted as needed on the spot market was estimated to be
$8.5 million for the quarter ended March 31, 1999.  By June 30, 1999,
the Company had substantially fulfilled all obligations related to
rigs contracted at above-market rates.  Currently, the Company is
contracting rigs as needed on a well-by-well basis.

Other Income and Expense

General and administrative expenses increased to $6.2 million in the
first quarter of 2000 from $5.9 million in the first quarter of 1999.
The increase was due primarily to higher compensation expense, partly
offset by lower professional fees.  The increase in compensation
expense was attributable to a stock-based compensation plan, which is
based on Company performance and the market price of the Company's
common stock.
<PAGE>
Interest expense increased to $16.8 million in the first quarter of
2000 from $13.4 million in the first quarter of 1999 primarily due to
higher debt incurred to finance the construction of the GLOMAR C.R.
LUIGS and the GLOMAR JACK RYAN drillships.

The Company capitalized $10.9 million of interest expense for the
first quarter of 2000 and $4.1 million for the comparable quarter of
1999 in connection with construction of the two drillships.

The Company's effective income tax rate for financial reporting
purposes was approximately 29 percent for the first quarter of 2000 as
compared to 21 percent for the first quarter of 1999.  The higher
effective income tax rate was due to an increase in U.S. earnings
resulting from higher dayrates and utilization in the U.S. Gulf of
Mexico relative to earnings from the Company's foreign markets.  The
Company's effective tax rate for a quarter is estimated based on the
Company's projected annual income and relative amounts of U.S. and
foreign income.  Because of the differences between U.S. and foreign
tax rates, the Company's effective income tax rate can be expected to
fluctuate from year to year as the relative amounts of the Company's
U.S. and foreign earnings fluctuate.

In the first quarter of 2000, the Company began implementing a
restructuring plan designed to streamline its organization and improve
efficiency.  The plan involves a workforce reduction of approximately
89 positions, a consolidation of administrative offices in Houston and
Europe, and closure of a materials control facility in Houston. The employee
functions affected are primarily corporate support in nature and include
materials control, engineering, accounting, and information technology,
among others.  Approximately 80 percent of the affected positions are
located in Houston, and the remaining 20 percent are located in Europe.
The Company recorded a $5.2 million pretax charge in the first quarter
of 2000 in connection with the restructuring, consisting of $4.3
million for employee severance costs and $0.9 million for office
and facility closures. Cash payments for severance will be paid over
various periods ranging from six weeks to twelve months from the date
of termination, based on salary grade and length of service.  Cash
payments through March 31, 2000 under the restructuring totaled $1.1
million, comprised entirely of employee severance.  Payments contemplated
under the restructuring will be substantially completed by December 31,
2000.  The Company expects to record pretax savings of approximately
$1.5 million per quarter after the plan's implementation is completed
in or about the third quarter of 2000.  Approximately 80 percent of the
savings is expected to be realized through lower contract drilling expenses,
and the remainder is expected to be realized through lower drilling
management and general and administrative expenses.

LIQUIDITY AND CAPITAL RESOURCES

For the three months ended March 31, 2000, $23.0 million of cash flow
was provided by operating activities, $3.9 million was provided from
exercises of employee stock options, $0.6 million was provided from
sales of properties and equipment, and $0.3 million was provided from
maturities of marketable securities.  From these amounts, plus
available cash, $59.7 million was used for capital expenditures, and
$19.6 million was used to reduce long-term debt (net of borrowings).

For the three months ended March 31, 1999, $92.3 million of cash flow
was provided by operating activities, $0.3 million was provided from
sales of properties and equipment, and $0.2 million was provided from
exercises of employee stock options.  From these amounts, plus
available cash, $98.6 million was used for capital expenditures.
<PAGE>
Capital expenditures for the full year 2000 are anticipated to be $158
million, consisting of $60 million for construction of the GLOMAR JACK
RYAN, $28 million for the construction of the GLOMAR C.R. LUIGS, $44
million for improvements to the remainder of the drilling fleet, $23
million for capitalized interest, and $3 million for other
expenditures.

As of March 31, 2000, the Company had $31.8 million in cash and cash
equivalents as compared to $83.3 million at December 31, 1999.

In April 2000 the Company entered into a short-term unsecured $50
million committed revolving bank credit facility with two major banks.
Under the terms of the facility, which expires October 31, 2000, the
Company can borrow up to $50 million at rates generally equal to the
then-current Eurodollar rate plus an applicable margin, which, based on
the Company's current credit rating, is 0.475 percent.  The maximum amount
available for borrowings under all committed credit facilities is $440
million with the addition of this facility.  As of April 30, 2000, borrowings
under all committed facilities totaled $343 million, and $97 million was
available for future borrowings.

The Company believes it will be able to meet all of its current
obligations, including working capital requirements, capital
expenditures and debt service, from its existing bank credit
facilities, its cash flow from operations, and its cash and cash
equivalents.

FORWARD-LOOKING STATEMENTS

Under the Private Securities Litigation Reform Act of 1995, companies
are provided a "safe harbor" for discussing their expectations
regarding future performance.  We believe it is in the best interests
of our stockholders and the investment community to use these
provisions and provide such forward-looking information.  We do so in
this report and other communications.  Our forward-looking statements
include things such as our expectations regarding the dates rigs will
enter or reenter service, the terms under which they will be employed,
and the future size of our active rig fleet; our overall positive
outlook for the future and our belief that if commodity prices remain
in the current range, actual spending by oil companies will exceed
budgeted estimates; our expectations regarding the periods during
which our contract drilling backlog will be realized and the amounts
to be realized during each period; our expectation that earnings in
the second quarter of 2000 will exceed first-quarter results;
the details of our restructuring plan, including our statements that
it will involve a workforce reduction of approximately 89 positions,
that it will affect primarily administrative functions, that implementation
will be completed in or about the third quarter of 2000, that cash payments
will be substantially completed by December 31, 2000, and that the
plan will result in an estimated pretax cost savings of approximately
$1.5 million per quarter after implementation is completed; our anticipated
capital expenditures for full-year 2000; our belief regarding our
ability to meet all of our current obligations; and other statements
that are not historical facts.

Our forward-looking statements speak only as of the date of this
report and are based on currently available industry, financial, and
economic data and our operating plans.  They are also inherently
uncertain, and investors must recognize that events could turn out to
be materially different from our expectations.

Factors that could cause or contribute to such differences include,
but are not limited to, changes in the markets for oil and gas and for
offshore drilling services, including changes in demand for our
services which may result from changes in oil and gas operators'
drilling programs due to factors such as
<PAGE>
changing oil and gas prices, a general economic slowdown or regional or
worldwide recession, and changes in oil and gas drilling technology;
uncertainties regarding the plans of our competitors, particularly with regard
to changes in the composition of their rig fleets and the marketing of their
rigs; the operational risks and uncertainties inherent in offshore oil and
gas drilling, including the risk that rigs may experience unanticipated
downtime due to construction defects, design or engineering problems or
other mechanical problems, or due to damage by external forces;
unanticipated costs or delays in our drillship construction project due to
things such as price inflation, contract disputes, design and engineering
problems, regulatory requirements, and labor difficulties; the need to make
accounting and other adjustments in connection with our restructuring plans
as we gather more information regarding the actual impact of our current
restructuring; and such other risk factors as may be discussed in the
Company's reports filed with the U.S. Securities and Exchange Commission.

The Company disclaims any obligation or undertaking to disseminate any
updates or revisions to its statements, forward-looking or otherwise,
to reflect changes in the Company's expectations or any change in
events, conditions, or circumstances on which any such statements are
based.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

No material change from December 31, 1999.


PART II - OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) EXHIBITS

    10.1 Form of Performance Stock Memorandum dated February 22,
         2000, regarding conditional opportunity to acquire Company
         stock granted to seven executive officers, respectively.

    10.2 Credit Agreement among Global Marine Inc., Various Lending
         Institutions,  ABN AMRO Bank, N.V., as Administrative Agent,
         Co-Lead Arranger and Book Runner, and Credit Lyonnais New
         York Branch, as Documentation Agent and Co-Lead Arranger,
         dated as of April 7, 2000.

    15.1 Letter of Independent Accountants regarding Awareness of
         Incorporation by Reference.

    27.1 Financial Data Schedule.  (Exhibit 27.1 is being submitted
         as an exhibit only in the electronic format of this
         Quarterly Report on Form 10-Q being submitted to the
         Securities and Exchange Commission.  Exhibit 27.1 shall not
         be deemed filed for purposes of Section 11 of the Securities
         Act of 1933, Section 18 of the Securities Exchange Act of
         1934 or Section 323 of the Trust Indenture Act, or otherwise
         be subject to the liabilities of such sections, nor shall it
         be deemed a part of any registration statement to which it
         relates.)

<PAGE>
(b) REPORTS ON FORM 8-K

        The Company did not file any reports on Form 8-K during the
    quarter ended March 31, 2000.


                                SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.


                                GLOBAL MARINE INC.
                                  (Registrant)

Dated:  May 11, 2000
                                /s/ Douglas C. Stegall
                                --------------------------------------
                                Douglas C. Stegall
                                Vice President and Controller
                                (Duly Authorized Officer and Principal
                                Accounting Officer of the Registrant)