<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This  schedule contains  summary financial  information extracted from the
financial statements of R&B Falcon Corporation  for the  nine months ended
September 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
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   9-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1997
<PERIOD-START>                             JAN-01-1998             JAN-01-1997
<PERIOD-END>                               SEP-30-1998             SEP-30-1997
<CASH>                                             150                      89
<SECURITIES>                                         0                       0
<RECEIVABLES>                                      242                     189
<ALLOWANCES>                                        12                       4
<INVENTORY>                                         28                      17
<CURRENT-ASSETS>                                   428                     303
<PP&E>                                           2,791                   1,794
<DEPRECIATION>                                     490                     410
<TOTAL-ASSETS>                                   2,766                   1,818
<CURRENT-LIABILITIES>                              346                     106
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             2                       2
<OTHER-SE>                                         841                     844
<TOTAL-LIABILITY-AND-EQUITY>                     2,766                   1,818
<SALES>                                              0                       0
<TOTAL-REVENUES>                                   804                     666
<CGS>                                                0                       0
<TOTAL-COSTS>                                      582                     403
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                  43                      32
<INCOME-PRETAX>                                    186                     235
<INCOME-TAX>                                        68                      45
<INCOME-CONTINUING>                                110                     183
<DISCONTINUED>                                       0                    (65)
<EXTRAORDINARY>                                   (22)                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                        88                     118
<EPS-PRIMARY>                                      .53                     .72
<EPS-DILUTED>                                      .53                     .71
        

</TABLE>