<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 June 30, 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 2-91966-01


                       STERLING DRILLING FUND 1984-1
            (Exact name of registrant as specified in charter)

                                 New York
               (State or other jurisdiction of incorporation)
                                     
                                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  / /

<PAGE> 2
                             PART I
                                
Item 1.   Financial Statements

The following Financial Statements are filed herewith:

Balance Sheets - June 30, 1998 and December 31, 1997.

Statements of Operations for the Six and Three Months Ended June
30, 1998 and 1997.

Statements of Changes in Partners' Equity for the Six and Three
Months Ended June 30, 1998 and 1997.

Statements of Cash Flows for the Six Months Ended June 30, 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 between 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  as  filed  by  the
Registrant, 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
contingent debts, liabilities or expenses for the conduct of  the
Partnership's  business.   As  of  June  30,  1998,  the  General
Partners  have  distributed  $1,708,660  or  18.50%  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 managing general  partner's
computer  systems.  Both , the operating 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 has

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been  implemented by both the operating company and the  managing
general partner. During the remainder of this year both companies
will continue to monitor, test and verify data in detail to avoid
any potential reporting concerns or delays.

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 $986,500  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 -

Total  operating revenues decreased from $176,931 in  1997  to  $
146,046 in 1998.  The Partnership's production  for both gas  and
oil,decreased  from 43,918 MCF and 1,698 Bbls in 1997  to  40,111
MCF  and   968  Bbls  in 1998. Although the main  source  of  the
Parntership's income is derived from its sale of gas  production,
the  Partnership does receive a reasonable amount of revenue from
its  gas sales. The average price per barrel received was  $18.78
in  1997  and  $12.59 in 1998. The combination of  lower  average
price  per  barrel  and  lower  oil  production  did  result   in
significantly  lower revenue received from the sale  of  its  oil
production.   The  Partnership may  experience  declines  in  gas
production due to pressure variances in the main transport lines.
These  variances may hinder the normal flow of the  Partnership's
gas  to  the  main purchaser. Also the Partnership  was  paid  an
average price per mcf of $3.07 in 1997 and $ 3.34 in 1998. The

<PAGE> 4

increased  average gas price did minimize the impact  on  overall
revenues. Production expenses decreased from $81,017 in  1997  to
$71,009  in  1998.  The Partnership's regular operating  expenses
can  vary  based upon the needs of the particular wells and  well
sites.  The current 1998 expenditures were consistent with  lower
production volumes and additional expenditures for road  repairs,
related labor costs and other repairs at the well site.  The 1997
expenditures  included  various  costs  associated  with  reworks
performed on wells in 1997.

General  and  administrative expenses  to  a  related  party  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  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 1997 or during the first half  of
1998.   The  current depreciation was reasonable based  upon  the
current remaining basis in the Partnership properties.
                                
                             PART II
                                
Items  1  to  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
during the period covered by this report.

Exhibit  27 - Financial data schedule is attached to the  current
filling 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

                                  (Registrant)






August 12, 1998                     By: /S/ Charles E. Drimal Jr.
(Date)                             ---------------------------
                                   Charles E. Drimal, Jr.
                                  General Partner

<PAGE>5
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
                         Balance Sheets
                                       June 30,      December 31,
                                         1998            1997
                                     (unaudited)       (audited)
Assets                                                            
Current Assets:                                                   
  Cash and cash equivalents        $       1,882      $    26,270
  Due from affiliates                     25,602                0
                                     -----------     ------------
      Total current assets                27,484           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                       (6,983,185)     (6,958,043)
                                     -----------     ------------
                                         998,959       1,023,571
                                     -----------     ------------
       Total assets                  $ 1,026,443     $ 1,049,841
                                     ============    ============
                                                     
Liabilities and Partners' Equity                     
 Current Liabilities:                                
   Due to affiliates               $            0  $        7,441
                                     ------------    ------------
       Total current liabilities                0           7,441
                                     ------------    ------------
 Partners' Equity                                    
   Limited partners                     1,031,536       1,049,271
   General partners                        (5,093)         (6,871)
                                      -----------     ------------
       Total partners' equity           1,026,443       1,042,400
                                      -----------     ------------
       Total liabilities and                         
         partners' equity          $    1,026,443     $ 1,049,841
                                     ===========     ============



See accompanying note to financial statements.


<PAGE>6
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
                     Statement of Operations
                           (unaudited)
                                
                                   Six Months Ending
                                     June 30, 1998

                               Limited      General              
                               Partners     Partners        Total
Revenue:                                                
Operating revenue           $    115,374      30,669  $   146,043
Interest income                      647          41          688
                                --------    --------     --------
  Total Revenue                  116,021      30,710      146,731
                                --------    --------     --------
                                                                 
Costs and Expenses:                                              
Production expense                56,097      14,912       71,009
General and administrative                                       
 to a related party               23,700       6,300       30,000
General and administrative         7,236       1,724        9,160
Depreciation, depletion                                          
 and amortization                 23,633       1,509       25,142
                                --------    --------     --------
  Total Costs and Expenses       110,666      24,645      135,311
                                --------    --------     --------
  Net Income                $      5,355       6,065  $    11,420
                                ========    ========     ========
                                                                 
Net Income per equity unit  $        .58                         
                               =========                



See accompanying note to financial statements.


<PAGE> 7
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
                     Statement of Operations
                           (unaudited)
                                
                                   Six Months Ending
                                     June 30, 1997

                               Limited      General              
                               Partners     Partners        Total
Revenue:                                                
Operating revenue           $    139,775      37,156  $   176,931
Interest income                      974          62        1,036
                                --------    --------     --------
  Total Revenue                  140,749      37,218      177,967
                                --------    --------     --------
                                                                 
Costs and Expenses:                                              
Production expense                64,003      17,014       81,017
General and administrative                                       
 to a related party               23,700       6,300       30,000
General and administrative         9,285       2,468       11,753
Depreciation, depletion                                          
 and amortization                 24,214       1,546       25,760
                                --------    --------     --------
  Total Costs and Expenses       121,202      27,328      148,530
                                --------    --------     --------
  Net Income                $     19,547       9,890  $    29,437
                                ========    ========     ========
                                                                 
Net Income per equity unit  $       2.12                         
                               =========                



See accompanying note to financial statements.

<PAGE> 8
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
                     Statement of Operations
                           (unaudited)
                                
                                  Three Months Ending
                                     June 30, 1998

                               Limited     General      
                               Partners    Partners     Total
Revenue:                                                
Operating revenue            $    58,578      15,571      74,149
Interest income                      359          23         382
                                --------    --------     -------
  Total Revenue                   58,937      15,594      74,531
                                --------    --------     -------
                                                                
Costs and Expenses:                                             
Production expense                28,418       7,554      35,972
General and administrative                                      
 to a related party               11,850       3,150      15,000
General and administrative         3,944       1,049       4,993
Depreciation, depletion                                         
 and amortization                 11,816         755      12,571
                                --------    --------     -------
  Total Costs and Expenses        56,028      12,508      68,536
                                --------    --------     -------
  Net Income                 $     2,909       3,086       5,995
                                ========    ========     =======
                                                                
Net Income per equity unit   $       .32
                                ========                        



See accompanying note to financial  statements.


<PAGE> 9
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
                     Statement of Operations
                           (unaudited)
                                
                                  Three Months Ending
                                     June 30, 1997

                               Limited     General      
                               Partners    Partners     Total
Revenue:                                                
Operating revenue            $    68,003      18,078      86,081
Interest income                      606          39         645
                                --------    --------     -------
  Total Revenue                   68,609      18,117      86,726
                                --------    --------     -------
                                                                
Costs and Expenses:                                             
Production expense                30,513       8,111      38,624
General and administrative                                      
 to a related party               11,850       3,150      15,000
General and administrative         5,826       1,549       7,375
Depreciation, depletion                                         
 and amortization                 12,900         824      13,724
                                --------    --------     -------
  Total Costs and Expenses        61,089      13,634      74,723
                                --------    --------     -------
  Net Income                 $     7,520       4,483      12,003
                                ========    ========     =======
                                                                
Net Income per equity unit   $       .82
                                ========                        



See accompanying note to financial  statements.

<PAGE> 10
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
            Statement of Changes in Partners' Equity
                           (unaudited)
                                
                                    Six Months Ended
                                     June 30, 1998


                               Limited       General      
                               Partners      Partners     Total
                                                          
Balance at beginning of                                             
period                      $   1,049,271      (6,871)     1,042,400
  Partners' Contribution                0       1,542          1,542
  Cash Distributions              (23,090)     (5,829)       (28,919)
  Net Income                        5,355       6,065         11,420
                                 --------    --------      ---------
Balance at end of period    $   1,031,536      (5,093)     1,026,443
                                 ========    ========      =========
                                            
                                            
                                    Six Months Ended
                                     June 30, 1997

                               Limited       General      
                               Partners      Partners     Total
                                                          
Balance at beginning of                                             
period                      $   1,043,772     (19,938)     1,023,834
  Partners' Contribution                0         204            204
  Cash Distributions              (23,090)     (5,989)       (29,079)
  Net Income                       19,547       9,890         29,437
                                 --------    --------      ---------
Balance at end of period    $   1,040,229     (15,833)     1,024,396
                                 ========    ========      =========


See accompanying note to financial statements.


<PAGE> 11
                  STERLING DRILLING FUND 1984-1
                (a New York Limited Partnership)
            Statement of Changes in Partners' Equity
                           (unaudited)
                                
                                   Three Months Ended
                                     June 30, 1998


                             Limited        General       
                             Partners       Partners      Total
                                                          
Balance at beginning of                                              
period                     $  1,051,717         (2,350)     1,049,367
  Partners' Contribution              0              0              0
  Cash Distributions            (23,090 )       (5,529)       (28,919)
  Net Income                      2,909          3,086          5,995
                               --------       --------     ----------
Balance at end of period   $  1,031,536         (5,093)     1,026,443
                               ========       ========     ==========
                                           
                                           
                                  Three Months Ended
                                     June 30, 1997

                             Limited        General       
                             Partners       Partners      Total
                                                          
Balance at beginning of                                              
period                     $  1,055,799        (14,531)     1,041,268
  Partners' Contribution              0            204            204
  Cash Distributions            (23,090)        (5,989)       (29,079)
  Net Income                      7,520          4,483         12,003
                               --------       --------     ----------
Balance at end of period   $  1,040,229        (15,833)     1,024,396
                               ========       ========     ==========


See accompanying note to financial statements.

<PAGE> 12
                       STERLING DRILLING FUND 1984-1
                     (a New York Limited Partnership)
                          Statement of Cash Flows
                                (unaudited)
                                     
                                        Six months      Six months
                                          ended           ended
                                         June 30,        June 30,
                                           1998            1997
                                                       
Net cash provided by operating                                     
activities                           $        3,519  $      117,078
                                       ------------     -----------
                                                                   
Cash flows from financing                                          
activities:
  Partners' contributions                     1,542             204
  Distribution to partners                  (28,919)        (29,079)
                                       ------------     -----------
Net cash (used in) financing                                       
activities                                  (27,377)        (28,875)
                                       ------------     -----------
Cash flows from investing                                          
activities:
  Investments in wells and well                                     
  related facilities                           (530)         (70,060)
                                        ------------     -----------
Net cash (used by) investing                                        
activities                                     (530)         (70,060)
                                         -----------     -----------
Net increase(decrease) in cash and                                 
  cash equivalents                           (24,388)         18,143
Cash and cash equivalents at                                       
  beginning of period                         26,270          20,620
                                        ------------     -----------
Cash and cash equivalents at end of                                
period                               $         1,882  $       38,763
                                       =============     ===========
                                                       



See accompanying note to financial statements.
                                
<PAGE> 13
                  STERLING DRILLING FUND 1984-1
                (a New York limited partnership)
                                
                  Note to Financial Statements
                                
                          June 30, 1998
                                
                                
                                
1.    The accompanying statements for the period ending June  30,

1998  are  unaudited  but  reflect all adjustments  necessary  to

present fairly the results of operations.