<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This  schedule  contains  summary  financial  information  extracted from the
financial statements of R&B Falcon Corporation for the quarters ended June 30,
1998 and 1997 as restated to reflect the completion of a pooling of interests
between Reading & Bates Corporation and Falcon Drilling  Company, Inc. and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>    1,000,000
       
<PERIOD-TYPE>                                 6-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1997
<PERIOD-START>                             JAN-01-1998             JAN-01-1997
<PERIOD-END>                               JUN-30-1998             JUN-30-1997
<CASH>                                             133                      55
<SECURITIES>                                         0                       0
<RECEIVABLES>                                      259                     188
<ALLOWANCES>                                        10                       3
<INVENTORY>                                         21                      14
<CURRENT-ASSETS>                                   421                     314
<PP&E>                                           2,518                   1,618
<DEPRECIATION>                                     466                     391
<TOTAL-ASSETS>                                   2,531                   1,673
<CURRENT-LIABILITIES>                              273                     118
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             2                       2
<OTHER-SE>                                         860                     807
<TOTAL-LIABILITY-AND-EQUITY>                     2,531                   1,673
<SALES>                                              0                       0
<TOTAL-REVENUES>                                   560                     425
<CGS>                                                0                       0
<TOTAL-COSTS>                                      322                     264
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                  29                      21
<INCOME-PRETAX>                                    213                     142
<INCOME-TAX>                                        77                      32
<INCOME-CONTINUING>                                130                     105
<DISCONTINUED>                                       0                    (22)
<EXTRAORDINARY>                                   (22)                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                       108                      83
<EPS-PRIMARY>                                      .66                     .51
<EPS-DILUTED>                                      .65                     .50
        

</TABLE>