SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC  20549

                                   FORM 10-QSB

   [X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998

   [ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934 FOR THE QUARTERLY PERIOD FROM _____ TO _____.


                         Commission file number 1-13162

                              EMPIRIC ENERGY, INC.
             (Exact name of registrant as specified in its charter)


                   TEXAS                                          75-2455467
     (State  or  other  jurisdiction  of                        (IRS Employer
      incorporation  or  organization)                       Identification No.)


        12750  MERIT  DRIVE,  SUITE  750
                DALLAS, TEXAS                                   75251-1609
     (Address of principal executive offices)                   (Zip Code)

                                 (972) 387-4100
              (Registrant's telephone number, including area code)


Check  whether  the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Securities and Exchange Act during the past 12 months (or for
such  shorter  period that the registrant was to file such reports), and (2) has
been  subject  to  such  filing  requirements  for  the  past  90  days.


Yes  __X__                                                              No _____
       -

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  March  26,  1998.
5,955,276

Transitional  Small  Business  Disclosure  Format                      Yes __X__
                                                                             -
No  _____

Page  1  of 9 pages contained in the sequential number system. The Exhibit Index
is  on  Page  8  of  the  sequential  numbering  system.


<PAGE>

                                     PART I

Item  1.          Financial  Statements
--------          ---------------------

           The  financial  statements  included herein have been prepared by the
Company,  without audit, pursuant to the rules and regulations of the Securities
and  Exchange Commission. The financial statements reflect all adjustments which
are, in the opinion of management, necessary to fairly present such information.
Although  the  Company  believes  that  the disclosures are adequate to make the
information  presented  not  misleading,  certain  information  and  footnote
disclosure,  including  significant  accounting  policies,  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles  have  been  condensed  or  omitted  pursuant  to  such  rules  and
regulations.  It  is  suggested  that  these  financial  statements  be  read in
conjunction  with the financial statements and the notes thereto included in the
Company's  latest  annual  report  on  Form  10-KSB, dated  December  31,  1997.

<TABLE>
<CAPTION>

                                   CONDENSED BALANCE SHEETS
                                   ------------------------


                                                                  March 31, 1997
ASSETS                                                    (Unaudited)      December 31, 1997
------------------------------------------------------  ----------------  -------------------
<S>                                                     <C>               <C>
Cash                                                    $        24,112 
Current Assets                                                   77,035 
                                                                 31,000   $           18,811 
                                                        ----------------                     
Accounts Receivable                                             132,147               63,225 
                                                        ----------------                     
Note Receivable-Texoil                                                                31,000 
                                                                          -------------------
Total Current Assets                                          3,725,871              113,036 
                                                        ----------------  -------------------
Oil and Gas Properties, using full cost accounting
Properties being amortized                                   (1,555,954)           3,692,500 
                                                        ----------------  -------------------
Less accumulated depreciation, depletion, amortization        2,169,917 
                                                        ----------------                     
    and impairment                                                                (1,555,250)
                                                                          -------------------
Net Oil and Gas Properties                                                         2,137,250 
                                                                          -------------------

Other Assets                                                      3,962 
Other property and equipment, at cost, less                       5,357 
                                                        ----------------                     
  accumulated depreciation                                        9,319                    - 
                                                        ----------------                     
Other                                                                                  2,076 
                                                                          -------------------
Total Other Assets                                      $     2,311,383                2,076 
                                                        ----------------  -------------------

TOTAL ASSETS                                                              $        2,252,362 
------------------------------------------------------                    -------------------
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                                                                March 31, 1997
LIABILITIES AND STOCKHOLDERS= EQUITY                             (Unaudited)      December 31, 1997
-------------------------------------------------------------  ----------------  -------------------

<S>                                                            <C>               <C>
Current Liabilities                                            $        98,899   $           79,414 
Accounts Payable                                                        17,981               17,981 
Due to stockholders                                                     30,000               30,000 
                                                               ----------------  -------------------
Short-term notes payable                                               146,880              127,395 
                                                               ----------------  -------------------
Total Current Liabilities

Long-Term Notes Payable                                                112,500                    - 
                                                               ----------------  -------------------

TOTAL LIABILITIES                                                      259,380              127,395 

Stockholders= Equity
Preferred stock, $100 par value; authorized  2,000,000
  shares; none outstanding at 3/31/98 and
  at 12/31/97                                                                -                    - 
Common Stock, $0.01 par value; authorized 20,000,000
  shares; issued 5,955,276 shares and 5,859,776, respectively           59,008               58,598 
Additional paid-in capital                                           4,306,971            4,286,662 
Retained deficits                                                   (2,313,976)          (2,220,292)
                                                               ----------------  -------------------
Total Stockholders= Equity                                           2,052,003            2,124,968 
                                                               ----------------  -------------------

TOTAL LIABILITIES AND STOCKHOLDERS= EQUITY                     $     2,311,383   $        2,252,362 
-------------------------------------------------------------  ----------------  -------------------
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
CONDEDSED  STATEMENTS  OF  OPERATIONS  AND  COMPREHENSIVE  INCOME
-----------------------------------------------------------------

                                                                Three Months Ended
                                                        ----------------------------------
                                                         March 31, 1998     March 31, 1997
                                                           (Unaudited)        (Unaudited) 
                                                        ----------------  ----------------

<S>                                                     <C>               <C>
Revenues
Oil and Gas Sales                                       $         3,308   $        31,885 
Expenses
Production                                                        1,192            16,958 
Depreciation, depletion, and amortization                         1,179             4,277 
Interest                                                          1,450             3,976 
General and administrative                                      105,539            61,026 
                                                        ----------------  ----------------
TOTAL EXPENSES                                                  109,360            86,237 
                                                        ----------------  ----------------

Other Income
Dividend Income                                                  11,250            11,250 
Interest Income                                                   1,118                 - 
                                                        ----------------  ----------------
TOTAL OTHER INCOME                                               12,368            11,250 
                                                        ----------------  ----------------

Loss before provision for income taxes and
    extraordinary item                                          (93,684)          (43,103)

Provision for income taxes                                            -                 - 
                                                        ----------------  ----------------
Loss before extraordinary item                                  (93,684)          (43,103)

Extraordinary item:
Gain from debt restructuring                                          -            29,764 
                                                        ----------------  ----------------

NET AND COMPREHENSIVE LOSS                              $       (93,684)  $       (13,339)
                                                        ================  ================

Basic and diluted net and comprehensive loss per share
before extraordinary items                              $        (0.016)  $        (0.009)
                                                        ================  ================

Basic and diluted net and comprehensive loss per share
after extraordinary items                               $        (0.016)  $        (0.003)
------------------------------------------------------  ================  ================
</TABLE>


<PAGE>
<TABLE>
<CAPTION>

                            CONDENSED STATEMENTS OF CASH FLOWS
                            ----------------------------------

                                                                Three Months Ended
                                                        ----------------------------------
                                                         March 31, 1998     March 31, 1997
                                                          (Unaudited)        (Unaudited)
                                                        ----------------  ----------------
<S>                                                     <C>               <C>
Cash flows from operating activities
Net Loss                                                $       (93,684)  $       (13,339)

Adjustments to reconcile net loss to net cash provided
    by operating activities
Depreciation, depletion and amortization                          1,179             4,277 
Other                                                                 -             1,729 
(Increase) decrease in :
Accounts receivable                                             (13,810)          (16,890)
Other Assets                                                     (3,281)             (730)
Increase (decrease) in:
Accounts payable and accrued expenses                            19,485            (9,781)
                                                        ----------------  ----------------
NET CASH PROVIDED BY OPERATING
        ACTIVITIES                                              (90,111)          (34,734)
                                                        ----------------  ----------------

Cash flows from investing activities
Purchases of oil and gas properties                             (33,371)          (26,945)
Purchases of other property and equipment                        (4,437)                - 
                                                        ----------------  ----------------
NET CASH USED BY INVESTING ACTIVITIES                           (37,808)          (26,945)
                                                        ----------------  ----------------

Cash flows from financing activities
Short-term notes payable                                              -           (90,061)
Long-term debt retired                                          112,500                 - 
Proceeds from issuance of common and
   preferred stock                                               20,720           150,840 
                                                        ----------------  ----------------
NET CASH PROVIDED BY INVESTING
       ACTIVITIES                                               133,220            60,779 
                                                        ----------------  ----------------

NET INCREASE IN CASH AND CASH
       EQUIVALENTS                                                5,301              (900)
Cash and cash equivalents, at beginning of period                18,811             1,084 
                                                        ----------------  ----------------
CASH AND CASH EQUIVALENTS, END OF
       PERIOD                                           $        24,112   $           184 
------------------------------------------------------  ================  ================
</TABLE>


<PAGE>
NOTES  TO  FINANCIAL  STATEMENTS

     See  notes  to  financial  statements included in the Company's 1997 Annual
Report  on  Form  10-KSB.


ITEM  2.         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS  OF  OPERATIONS.

RESULTS  OF  OPERATIONS

     Oil  and gas sales of $3,308 for the quarter end March 31, 1998 represented
a decrease of $28,577 from the comparable 1997 quarter. This decrease was due to
the  Texas  Panhandle  producing properties of the Company being sold during the
third  quarter  1997,  leaving only the Pennsylvania properties producing during
the  first  quarter 1998. Total expenses of $109,360 for the quarter ended March
31, 1998 represented a increase of $23,123 from the comparable 1997 quarter. The
increase  was  due  to the increase in overhead due to the hiring of a President
and  Chief  Operating  Officer  at  the  end  of 1997. Total net loss of $93,684
represented  an  increase  of  $80,345 over the net loss for the comparable 1997
quarter  due to the factors cited above and the extraordinary gain recognized in
the  quarter  ended  March  31,  1997

LIQUIDITY  AND  CAPITAL  RESOURCES

     As of March 31, 1998, the Company had a net worth of $2,052,003 compared to
a  net worth of $2,124,968 at December 31, 1997.  This decrease is primarily due
to  the  net  loss  in  the  quarter  ended March 31, 1998. There  was a working
capital deficit of $14,733 at March 31, 1998 compared to $14,358 at December 31,
1997.

     During  the  quarter,  Senior  Secured  Notes  were  sold totaling $112,500
secured  by  repayment from an option agreement to purchase acreage owned in the
Texas  Panhandle.    Proceeds  from  the  notes  was  used  for working capital.

SUBSEQUENT  EVENTS

     Empiric  announced  on  April  13,  1998  the  acquisition  from  a private
independent  energy company (SEI) and individual investors, producing properties
and  related  large  leasehold  acreage  located  in  South/Central  Texas  of
approximately  18,000  acres,  that  will provide additional drilling locations.
The  original working interest acquired was 46%, has since been increased to 75%
in  the  drilling  program.

A twenty well program was commenced with three wells completed and a fourth well
being  drilled  and  awaiting  completion.   The remaining sixteen wells will be
drilled  over  the next several months.  The fourth well has been logged and has
four  potentially  productive  zones  with  more  than  70  feet  of  net  pay.

     The  first  three  wells  had  a  combined absolute open flow (AOF) rate in
excess  of  15 MMcfpd as determined by an independent engineering firm, with the
results, filed as required, with the Texas Railroad Commission.  The three wells
started  production  the  last  week  of  April  at  approximately  1.5  MMcfpd.

     The effective date for all production income to accrue to Empiric=s account
was  April  1,  1998.

<PAGE>
     The  acquisition  further  included  the  advance  technology  survey  data
covering  11.9 million acres of the highly prolific Upper Wilcox Trend, covering
34,000  linear  miles, and resulting in Ahigh-grading@ 298,000 acres, containing
over  100  potential  prospects.    In  addition, Empiric may participate in two
semi-exploration  prospects  in Alabama and Louisiana, with drilling to commence
in  the  next sixty days.  The successful completion of either or both prospects
would  have  a  major impact on current and future income to Empiric and related
shares  outstanding.

     In the next several weeks Empiric will take over and commence operations of
the  Texas  producing  properties  and  future  wells  developed  therefrom.

     The  acquisition  further included a 25% interest in a partnership with SEI
to  utilize  SEI=s advanced technology (SRM(tm)) coupled with the development of
sedimentary residual magnetics brights spots (Mb(tnss)) anomaly techniques and a
commitment  to  participate  in  the  exploration  and  development of potential
drilling  prospects  in  the  following  areas:

     West  Texas  -  Permian  Basin  (SRM)
     South  Argentina  (SRM)
     South  Morocco  (SRM)

     SEI  and  Empiric=s  objective will be to develop substantial prospects for
long term growth utilizing its very successful and proven proprietary technology
developed  over  the  past fifteen years in domestic and foreign locations.  The
above  projects  will commence immediately and continue over the next 11 / 2  to
two  years.

STRATEGY,  BUSINESS  PLANS  AND  NEED  FOR  THE  INFUSION  OF  CAPITAL

     Subsequent to March 31, 1998, the Company acquired the above properties for
Securities  of  the  Company  disclosed  in  an 8-K dated April 9, 1998 drilling
program. Various sources of financing, including the issuance of dept and equity
securities  are  being  investigated.

     The  recently  acquired  properties'  cash flow will begin to contribute to
earnings  of  the  Company  during  the  second  quarter.

<PAGE>
                                    PART II.

                                OTHER INFORMATION


Item  1.                    Legal  Proceedings
-------                     ------------------

NONE

Item  2.                    Changes  in  Securities
--------                    -----------------------

NONE

Item  3.                    Defaults  Upon  Senior  Securities
--------                    ----------------------------------

NONE

Item  4.                   Submission of Matters to a Vote of Securities Holders
--------                   -----------------------------------------------------

NONE

Item  5.                    Other  Information
--------                    ------------------

NONE

Item  6.                    Exhibits  and  Reports  on  Form  8-K
--------                    -------------------------------------


<PAGE>

                                   SIGNATURES
                                   ----------


     In  accordance  with  the  requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

EMPIRIC  ENERGY,  INC

By:  /s/  James  J.  Ling                                    Date:  May 13, 1998
     --------------------
     Chairman  and  Chief  Executive  Officer


Pursuant  to  the  requirements of the Securities and Exchange Act of 1934, this
report  has  been signed below by the following persons on behalf of the Company
and  in  the  capacities  and  on  the  dates  indicated

By:  /s/ Clyde E. Skein                                      Date:  May 13, 1998
     Clyde  E.  Skein
     Chief  Financial  Officer


By:  /s/  James  J.  Ling                                    Date:  May 13, 1998
     James  J.  Ling
     Chairman  and  Chief  Executive


By:  /s/ R. Reno Rothrock, Jr.                               Date:  May 13, 1998
     R.  Renn  Rothrock,  Jr.
     President  and  Chief  Operating

<PAGE>