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, 1997

                             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   / /

Part I

Item 1.   Financial Statements

The following Financial Statements are filed herewith:

Balance Sheets - March 31, 1997 and December 31, 1996.

Statements of Operations for the Three Months Ended March 31, 1997 and
1996.

Statements of Changes in Partners' Equity for the year ended December 31,
1996 and for the Three Months Ended March 31, 1997.

Statements of Cash Flows for the Three Months Ended March 31, 1997 and
1996.

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 31,1997 the
General Partners have distributed $1,662,480 or 18.00% of original
Limited Partner capital contributions, to the Limited Partners.

     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, 1996 was approximately   $986,500  as compared to
$689,100  as of December 31, 1995. The increase  in total estimated
discounted future net revenue was primarily due to higher year end gas
prices as of December 31, 1996 compared  to the gas price  in effect
as of December 31, 1995.   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 increased from $62,364 in 1996 to $90,850 in 1997.
The partnership experienced  a minor increase in gas production, from
21,378 MCF in 1996 and  22,746 MCF in 1997, and very little change in
oil production.  The Partnership did benefit from increased average
price per MCF and BBL, from $2.40 and $16.12 in 1996 to $2.90 and
$20.50 in 1997. The price increase was the main contributor to the
increase in overall revenue.

Production expenses changed from $28,090 in 1996 to $42,393 in 1997.
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 1996.

General and administrative expenses  to a related party increased from
$12,501 in 1996 to $15,000 in 1997. These 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 1996
and 1997 are substantially less than the amounts allocable to the
Registrant under the Partnership Agreement.  The Partnership's third
party costs showed a slight decline. Management continues to reduce
third party costs and 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 1996 or first quarter 1997.  The Partnership did not
expend funds , during the first quarter 1997, on any capitalized well
equipment . The lower depletion expense in 1997 is due to  overall
lower depletable cost basis, from 1996 to 1997, in oil and gas
properties.



PART II
Items 1 through 5 have been omitted in that each item is either
inapplicable or the answer is negative.Item .  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.

                          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 14, 1997            BY: /S/ Charles E. Drimal, Jr.
(DATE)                        --------------------
                              Charles E. Drimal, Jr.
                              General Partner


                              
                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                       Balance Sheets
                         (unaudited)

                                    March 31,      December 31,
                                       1997            1996
Assets                                                           
Current Assets:                                                  
  Cash and cash equivalents      $      52,765         $ 20,620
  Due from affiliates                    1,707            4,382
                                   -----------      ------------
      Total current assets              54,472           25,002
                                   -----------      ------------
                                                    
Oil and Gas properties -                            
successful efforts method:                          
  Leasehold costs                      323,260          323,260
  Well and related facilities        7,580,739        7,580,739
   less accumulated                                 
   depreciation, depletion and                      
   amortization                     (6,917,203)      (6,905,167)
                                   -----------      ------------
                                       986,796          998,832
                                   -----------      ------------
       Total assets              $   1,041,268      $ 1,023,834
                                   ============     ============
                                                    
 Partners' Equity                                   
   Limited partners              $   1,055,799      $ 1,043,772
   General partners                    (14,531)         (19,938)
                                   -----------      ------------
         Total partners' equity  $   1,041,268      $ 1,023,834
                                   ===========      ============


See accompanying note to financial statements.
                              
                              
                              
                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.
                              
                              
                              

                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                   Statement of Operations
                         (unaudited)
                              
                                   Three Months Ended
                                     March 31, 1996

                               Limited     General      
                               Partners    Partners     Total
Revenue:                                                
Operating revenue            $    49,268      13,096  $     62,364
Interest income                       22           1            23
                                --------    --------     ---------
  Total Revenue                   49,290      13,097        62,387
                                --------    --------     ---------
                                                                  
Costs and Expenses:                                               
Production expense                22,191       5,899        28,090
General and administrative                                        
 to a related party                9,876       2,625        12,501
General and administrative         3,553         945         4,498
Depreciation, depletion                                           
 and amortization                 11,606         741        12,347
                                --------    --------     ---------
  Total Costs and Expenses        47,226      10,210        57,436
                                --------    --------     ---------
  Net Income                 $     2,064       2,887  $      4,951
                                ========    ========     =========
Net Income per equity unit   $      0.22                          
                                ========                          



See accompanying note to financial statements.

                              

                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, 1995  $  1,080,167  $    (20,084) $  1,060,083
  Partners' contribution                 0           162           162
  Cash Distributions               (23,090)       (6,005)      (29,095)
  Net Income(Loss)                 (13,305)        5,989        (7,316)
                                  --------      --------      --------
Balance at December 31, 1996  $  1,043,772  $    (19,938) $  1,023,834
  Net Income                        12,027         5,407        17,434
                                  --------      --------      --------
Balance at March 31, 1997     $  1,055,799  $    (14,531) $  1,041,268
                                  ========      ========      ========




See accompanying note to financial statements.
                              
                              
                STERLING DRILLING FUND 1984-1
              (a New York Limited Partnership)
                   Statement of Cash Flows
                         (unaudited)
                              
                                            Three          Three          
                                           months          months
                                         ended March    ended March
                                          31, 1997        31, 1996
                                                                     
Net cash provided by operating                                                  
activities                            $       32,145  $        (57)
                                          ----------      --------            
                                                                                
Net increase(decrease) in cash and                                              
  cash equivalents                            32,145           (57)
Cash and cash equivalents at                                                    
  beginning of period                         20,620         1,401
                                         -----------     ---------            
Cash and cash equivalents at end of                                             
period                                $       52,765  $      1,344
                                         ===========     =========            
                                                                     

See accompanying note to financial statements.

                              
                STERLING DRILLING FUND 1984-1
              (a New York limited partnership)
                              
                Note to Financial Statements
                              
                       March 31, 1997
                              
                              
                              
1. The accompanying statements for the period ending March
31, 1997 are unaudited but reflect all adjustments necessary
to present fairly the results of operations.