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             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 0-13457

                Sterling Drilling Fund 1984-1
     (Exact name of registrant as specified in charter)

                          New York
      (State or other jurisdiction of incorporation or
                        organization)
                              
                         13-3234373
            (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 residential
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 $1,685,570 or 18.25% of original
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



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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.

The net proved oil and gas reserves of the partnership are considered
to be a indicator of financial strength and future liquidity.  The
present value of unescalated future net revenues(S.E.C. case)
associated with such reserves, discounted at 10% as of December 31,
1997 was approximately   $974,200  as compared to $986,600  as of
December 31, 1996.   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 October 1984 for $7,750,000.   Pursuant  to
the  terms  of  this  contract thirty-two  wells  have  been  drilled,
resulting in thirty-two producing wells.

3.   Results of Operations -

Operating revenues decreased from $90,850 in 1997 to $71,894 in 1998.
The partnership experienced  a decline in both gas and oil production,
22,746 MCF and 795 BBL in 1997 to 20,188 MCF and 514 BBL in 1998. A
large amount of the gas produced by the Partnership is sold under  a
locked twelve month fixed price contract that commenced  in December
1997.  Operating gas revenues decline was minimized by a better
average price from $2.90 in 1997 to $3.20 in 1998.  Oil prices
significantly changed  from $20.50 in 1997 to $12.33 in 1998.  This
lower oil price combined with lower oil production also were factors
in the overall lower operating revenue.

Production expenses changed from $42,393 in 1997 to $35,037 in 1998.
In the first quarter 1997 the Partnership experienced a rise in
general upkeep costs associated with access to the wells and related
labor costs at the well site. Also, variable costs associated with
production  increased, for example the related well taxes which are
based upon production data.  The Partnership  participated in normal
and recurring well and well site costs  during the first quarter 1998.


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General and administrative expenses  to a related party and to third
parties remained consistent from 1997 to 1998. The related party
administrative expenses are charged in accordance with guidelines set
forth in the Registrant's Management Agreement and are attributable to
the affairs and operations of the Partnership and shall not exceed an
annual amount equal to 5% of the limited partners capital
contributions. Amounts related to both 1997 and 1998 are substantially
less than the amounts allocable to the Registrant under the
Partnership Agreement. Management continues to use in-house resources
to provide efficient and timely services to the partnership.

The Partnership records additional depreciation, depletion and
amortization to the extent that net capitalized costs exceed the
undiscounted future net cash flows attributable to the partnership
properties. The partnership was not required to revise the properties
basis in either 1997 or first quarter 1998 due to additional
depletion.  The partnership expended a minimal amount of funds on
capitalized well equipment during the first quarter 1998.  Depletion
expense is reasonable, in both years, based upon the rates and
property basis reported.



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
Exchange Act of 1934, Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
                    
                        
                            Sterling Drilling Fund 1984-1
May 12, 1998                BY: /S/ Charles E. Drimal, Jr.
(DATE)                         --------------------------
                               Charles E. Drimal, Jr.
                               General Partner

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                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                       Balance Sheets
                         (unaudited)
                                     March 31,      December 31,
                                        1998            1997
Assets                                                           
Current Assets:                                                  
  Cash and cash equivalents      $      30,128      $     26,270
  Due from affiliates                    7,709                 0
                                   -----------      ------------
      Total current assets              37,837            26,270
                                   -----------      ------------
                                                    
Oil and Gas properties -                            
successful efforts method:                          
  Leasehold costs                      323,260           323,260
  Well and related facilities        7,658,884         7,658,354
   less accumulated                                 
   depreciation, depletion and                      
   amortization                     (6,970,614)       (6,958,043)
                                   -----------      ------------
                                     1,011,530         1,023,571
                                   -----------      ------------
       Total assets              $   1,049,367      $  1,049,841
                                   ============     ============
                                                    
Liabilities and Partner's Equity                    
  Current Liabilities                               
    Due to affiliates                        0            7,441
                                   -----------      -----------
       Total current liabilities             0            7,441
                                   -----------      -----------
 Partners' Equity                                   
   Limited partners              $   1,051,717      $ 1,049,271
   General partners                      2,446           (6,871)
                                   -----------      ------------
         Total partners' equity  $   1,049,367      $ 1,042,400
                                   -----------      -----------
                                                    
        Total Liabilities and                       
          Partner's Equity       $   1,049,367      $ 1,049,841
                                   ============     ============


See accompanying note to financial statements.
                              
                              
                              
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                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                   Statement of Operations
                         (unaudited)
                              
                                   Three Months Ended
                                     March 31, 1998

                               Limited     General      
                               Partners    Partners     Total
Revenue:                                                
Operating revenue            $    56,796      15,098  $     71,894
Interest income                      288          18           306
                                --------    --------     ---------
  Total Revenue                   57,084      15,116        72,200
                                --------    --------     ---------
                                                                  
Costs and Expenses:                                               
Production expense                27,679       7,358        35,037
General and administrative                                        
 to a related party               11,850       3,150        15,000
General and administrative         3,292         875         4,167
Depreciation, depletion                                           
 and amortization                 11,817         754        12,571
                                --------    --------     ---------
  Total Costs and Expenses        54,638      12,137        66,775
                                --------    --------     ---------
  Net Income                 $     2,446       2,979         5,425
                                ========    ========     =========
Net Income per equity unit   $      0.26                          
                                ========                          



See accompanying note to financial statements.
                              
                              
                              
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                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                   Statement of Operations
                         (unaudited)
                              
                                   Three Months Ended
                                     March 31, 1997

                               Limited     General      
                               Partners    Partners     Total
Revenue:                                                
Operating revenue            $    71,772      19,078  $     90,850
Interest income                      368          23           391
                                --------    --------     ---------
  Total Revenue                   72,140      19,101        91,241
                                --------    --------     ---------
                                                                  
Costs and Expenses:                                               
Production expense                33,490       8,903        42,393
General and administrative                                        
 to a related party               11,850       3,150        15,000
General and administrative         3,459         919         4,378
Depreciation, depletion                                           
 and amortization                 11,314         722        12,036
                                --------    --------     ---------
  Total Costs and Expenses        60,113      13,694        73,807
                                --------    --------     ---------
  Net Income                 $    12,027       5,407        17,434
                                ========    ========     =========
Net Income per equity unit   $      1.30                          
                                ========                          



See accompanying note to financial statements.

                              
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                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
          Statement of Changes in Partners' Equity
                         (unaudited)
                              
                                            


                                 Limited      General        
                                 Partners     Partners       Total
                                                             
Balance at December 31, 1996  $  1,043,772  $    (19,938)  $  1,023,834
  Partners' contribution                 0         1,742          1,742
  Cash Distributions               (23,090)       (5,989)       (29,079)
  Net Income                        28,589        17,314         45,903
                                  --------      --------       --------
Balance at December 31, 1997  $  1,049,271  $     (6,871)  $  1,042,400
  Partners' contribution                 0         1,542          1,542
  Net Income                         2,446         2,979          5,425
                                  --------      --------      ---------
Balance at March 31, 1998     $  1,051,717  $     (2,350)  $  1,049,367
                                  ========      ========      ========




See accompanying note to financial statements.
                              
                              
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                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                   Statement of Cash Flows
                         (unaudited)
                              
                                            Three          Three          
                                           months          months
                                         ended March    ended March
                                          31, 1998        31, 1997
                                                                     
Net cash provided by operating                                                  
activities                            $        2,846  $       32,145
                                          ----------      ----------            
Cash flows from investing activities                                            
  Investment in wells and                                                       
  related facilities                            (530)              0            
                                          ----------      ----------            
Net cash used in investing activities           (530)              0            
                                          ----------      ----------            
                                                                                
Cash flows from financing activities                                            
  Partners' contribution                       1,542               0            
                                          ----------      ----------            
Net cash provided by financing                                                  
  activities                                   1,542               0
                                          ----------      ----------            
Net increase(decrease) in cash and                                              
  cash equivalents                             3,858          32,145
Cash and cash equivalents at                                                    
  beginning of period                         26,270          20,620
                                         -----------     -----------            
Cash and cash equivalents at end of                                             
period                                $       30,128  $       52,765
                                         ===========     ===========            
                                                                     

See accompanying note to financial statements.



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                STERLING DRILLING FUND 1984-1
              (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.