<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 March 31,
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>                                 3-MOS                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1997
<PERIOD-START>                             JAN-01-1998             JAN-01-1997
<PERIOD-END>                               MAR-31-1998             MAR-31-1997
<CASH>                                             118                     112
<SECURITIES>                                         0                       0
<RECEIVABLES>                                      244                     159
<ALLOWANCES>                                         8                       3
<INVENTORY>                                         17                      15
<CURRENT-ASSETS>                                   387                     291
<PP&E>                                           2,243                   1,494
<DEPRECIATION>                                     446                     373
<TOTAL-ASSETS>                                   2,226                   1,515
<CURRENT-LIABILITIES>                              290                     107
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             2                       1
<OTHER-SE>                                         820                     759
<TOTAL-LIABILITY-AND-EQUITY>                     2,226                   1,515
<SALES>                                              0                       0
<TOTAL-REVENUES>                                   279                     203
<CGS>                                                0                       0
<TOTAL-COSTS>                                      153                     133
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                  14                      10
<INCOME-PRETAX>                                    113                      61
<INCOME-TAX>                                        41                      13
<INCOME-CONTINUING>                                 70                      45
<DISCONTINUED>                                       0                     (6)
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                        70                      39
<EPS-PRIMARY>                                      .42                     .24
<EPS-DILUTED>                                      .42                     .23
        

</TABLE>