<PAGE>


                            UNITED STATES
                 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         March 31, 1998

                                 OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
For the transition period from                 to

                                  

Commission file number        1-10053

                        ORYX ENERGY COMPANY
       (Exact name of registrant as specified in its charter)

                   DELAWARE                         23-1743284
     (State or other jurisdiction of          (I.R.S. Employer
     incorporation or organization)          Identification Number)

             13155 NOEL ROAD, DALLAS, TEXAS         75240-5067
      (Address of principal executive offices)       (Zip code)

                           (972) 715-4000
        (Registrant's telephone number, including area code)

                                  

     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

                                  

     The number of shares of common stock, $1 par value, outstanding
on March 31, 1998 was 106,160,244.
<PAGE>
PAGE 2
                         ORYX ENERGY COMPANY
                                  
                                  
                                INDEX



                                                          Page

PART I.  FINANCIAL INFORMATION

  Item 1. Financial Statements

          Condensed Consolidated Statements of Income
          for the Three Months Ended March 31, 1998
          and 1997 ..................................      3

          Condensed Consolidated Balance Sheets at
          March 31, 1998 and December 31, 1997 ......      4

          Condensed Consolidated Statements of Cash
          Flows for the Three Months Ended March 31,
          1998 and 1997 .............................      5

          Notes to Condensed Consolidated Financial
          Statements ................................      6

          Report of Independent Accountants .........     10

  Item 2. Management's Discussion and Analysis of
          Financial Condition and Results of
          Operations ................................     11

PART II. OTHER INFORMATION

  Item 6. Exhibits and Reports on Form 8-K ..........     14

SIGNATURE ..............................................  15
<PAGE>
PAGE 3
<TABLE>
                               PART I
                        FINANCIAL INFORMATION

Item 1.  Financial Statements

ORYX ENERGY COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
<CAPTION>
                                                    For the Three Months
(Millions of Dollars, Except                           Ended March 31
Per Share Amounts)                                     1998       1997
                                                          (Unaudited)
<S>                                                    <C>        <C>
Revenues
  Oil and gas                                          $215       $342
  Other                                                   8         (7)
                                                       ----       ----
                                                        223        335
                                                       ----       ----
Costs and Expenses 
  Operating costs                                        56         69
  Production taxes                                       11         39
  Exploration costs                                      49         14
  Depreciation, depletion and amortization               70         79
  General and administrative expense                     13         15
  Interest and debt expense                              27         27
  Interest capitalized                                   (5)        (5)
                                                       ----       ----
                                                        221        238 
                                                       ----       ----
Income Before Provision (Benefit) for Income Taxes        2         97
Provision (Benefit) for Income Taxes (Note 3)            (2)        35
Remeasurement of Foreign Deferred Tax
  (Note 3)                                                1         (4)
                                                       ----       ----

Net Income                                               $3        $66
                                                       ====       ====
Basic Net Income Per Share of Common Stock (Note 4)    $.02       $.63
                                                       ====       ====
Diluted Net Income Per Share of Common Stock (Note 4)  $.02       $.61
                                                       ====       ====
Weighted Average Number of  Basic Common Shares
    Outstanding (in millions)                         106.1      105.3
                                                      =====      =====
<FN>
                      (See Accompanying Notes)
</TABLE>
<PAGE>
PAGE 4
<TABLE>
ORYX ENERGY COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
<CAPTION>
                                                    March 31   December 31
(Millions of Dollars)                                 1998         1997
                                                   (Unaudited)
<S>                                                <C>         <C>
Assets

Current Assets
  Cash and cash equivalents                         $    8       $   10
  Accounts receivable and other current
    assets                                             241          228
                                                    ------       ------
Total Current Assets                                   249          238
Properties, Plants and Equipment (Note 5)            1,908        1,811
Deferred Charges and Other Assets                       62           59
                                                    ------       ------

Total Assets                                        $2,219       $2,108
                                                    ======       ======
Liabilities and Shareholders' Equity

Current Liabilities
  Accounts payable                                  $  194       $  121
  Accrued liabilities                                  238          257
  Current portion of long-term debt                     19            4
                                                    ------       ------
Total Current Liabilities                              451          382
Long-Term Debt                                       1,233        1,184
Deferred Income Taxes                                  239          235
Deferred Credits and Other Liabilities                 131          150
Shareholders' Equity (Note 6)
  Common stock, par value $1 per share                 124          124
  Additional paid-in capital                         1,821        1,821
  Accumulated deficit                                 (742)        (740)
                                                    ------       ------
                                                     1,203        1,205

  Less:  Common stock in treasury, at cost            (943)        (952)
         Loan to ESOP                                  (95)         (96)
                                                    ------       ------
Shareholders' Equity                                   165          157
                                                    ------       ------
Total Liabilities and Shareholders'
  Equity                                            $2,219       $2,108
                                                    ======        ======
<FN>
The successful efforts method of accounting is followed.

                      (See Accompanying Notes)
</TABLE>
<PAGE>
PAGE 5
<TABLE>
ORYX ENERGY COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
<CAPTION>
                                                       For the Three Months
                                                           Ended March 31
(Millions of Dollars)                                      1998      1997
                                                            (Unaudited)
<S>                                                       <C>       <C>
Cash and Cash Equivalents From Operating Activities
  Net income                                              $   3     $  66
  Adjustments to reconcile net income to
    net cash flow from operating activities:
     Depreciation, depletion and amortization                70        79
     Dry hole costs and leasehold impairment                 30         2
     Gain on sale of assets, net of taxes                    (3)        -
     Deferred income taxes                                    -         8
     Remeasurement of foreign deferred tax                    1        (4)
     Other                                                   (1)        4
                                                          -----     -----
                                                            100       155

     Changes in working capital:
       Accounts receivable and
         other current assets                               (13)       61
       Accounts payable and accrued
         liabilities                                         52        (2)
                                                          -----     -----
Net Cash Flow Provided From Operating
       Activities                                           139       214
                                                          -----     -----
Investing Activities
  Capital expenditures                                     (193)     (117)
  Other                                                     (14)      (25)
                                                          -----     -----
Net Cash Flow Used For Investing
       Activities                                          (207)     (142)
                                                          -----     -----
Financing Activities
  Proceeds from borrowings                                  106        15
  Repayments of long-term debt                              (42)      (90)
  Proceeds from sale of treasury stock                        2         5
                                                          -----     -----

 Net Cash Flow Provided From (Used For)
       Financing Activities                                  66       (70)
                                                          -----     -----
Changes In Cash and Cash Equivalents                         (2)        2
Cash and Cash Equivalents at Beginning
       of Period                                             10         9
                                                          -----     -----
Cash and Cash Equivalents at End
       of Period                                           $  8      $ 11
                                                          =====     =====
<FN>
                      (See Accompanying Notes)
</TABLE>
<PAGE>
PAGE 6
                         ORYX ENERGY COMPANY
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                             (Unaudited)

1.   Basis of Presentation

     The  accompanying  condensed consolidated financial  statements
     and  related  notes of Oryx Energy Company and its subsidiaries
     (hereinafter,  unless  the  context otherwise  requires,  being
     referred  to  as the Company) are presented in accordance  with
     the   requirements  of  Form  10-Q  and  do  not  include   all
     disclosures normally required by generally accepted  accounting
     principles or those normally made in annual reports on Form 10-
     K.   In  management's opinion, all adjustments necessary for  a
     fair  presentation of the results of operations for the periods
     shown have been made and are of a normal recurring nature.  The
     results of operations of the Company for the three months ended
     March  31,  1998 are not necessarily indicative of the  results
     for  the  full  year 1998.  Certain items in the  period  ended
     March  31, 1997 have been reclassified to conform to  the  1998
     presentation.
     
     The Company adopted Statement of Financial Accounting Standards
     (SFAS)  No.  128,  "Earnings per Share," effective  January  1,
     1997.   As  a result, earnings per share for the first  quarter
     ended  March  31,  1997 have been restated to  conform  to  the
     provisions of this statement.  In addition, the Company adopted
     SFAS   No  130,  "Reporting  Comprehensive  Income,"  effective
     January 1, 1998. Total comprehensive income and net income  are
     identical for the period ended March 31, 1998.

     Statements of Cash Flows

     Amounts paid for interest and income taxes were as follows:
<TABLE>
<CAPTION>
                                Three Months Ended March 31
                                      1998         1997
                                   (Millions of Dollars)
<S>                                <C>           <C>
     Interest paid (net of
        capitalized amounts)        $  18         $  19
     Income taxes paid              $   1         $  18
</TABLE>

2.   Provision for Restructuring

     In the fourth quarter of 1995, the Company recognized a net $25
     million   ($16  million  after-tax)  charge  for  restructuring
     comprised  of a $4 million adjustment to the 1994 restructuring
     provision and a $29 million restructuring provision for a  plan
     to achieve further cost reductions.

     The costs of the 1995 restructuring were complete at December
     31, 1996 except for costs associated with an office lease 
     obligation which existed prior to the commitment date that 
     has no economic benefit to the Company. During the period 
     ended March 31, 1998, $1 million of costs associated with this 
     lease were incurred, and at March 31, 1998, $9 million of this 
     provision remains.
<PAGE>
PAGE 7
                         ORYX ENERGY COMPANY
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                             (Unaudited)
                             (continued)


3.   Income Taxes

     The  Company's provisions for income taxes for the three months
     ended March 31, 1998 and 1997 reflect a provision (benefit)  of
     $(2)  million  and $35 million.  Foreign income tax  provisions
     included  within  the  Company's  consolidated  provisions  are
     determined  based upon the appropriate foreign statutory  rates
     which differ from the U.S. statutory rate.

     Deferred  income  taxes  are  provided  to  reflect   the   tax
     consequences in future periods of differences between financial
     statements  and tax basis of assets and liabilities  at  period
     end  in  accordance  with  Statement  of  Financial  Accounting
     Standards  No.  109, "Accounting for Income  Taxes"  (SFAS  No.
     109).   The  remeasurement provisions  of  SFAS  No.  109  have
     affected  the reported earnings of the Company.  Earnings  have
     decreased  $1  million and increased $4 million for  the  three
     months  ended  March 31, 1998 and 1997 from such remeasurement.
     Management  believes that such non-cash remeasurements  distort
     current  period  economic results and should be disregarded  in
     analyzing  the  Company's  current  business.  Future  economic
     results  may also be distorted because payment of the  deferred
     tax liability is not expected to occur in the near-term and  it
     is  likely  that  exchange rates will fluctuate  prior  to  the
     eventual settlement of the liability.
<PAGE>
PAGE 8
                         ORYX ENERGY COMPANY
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                             (Unaudited)
                             (continued)

4.   Net Income Per Share

     Following   is   a   reconciliation  of  the   numerators   and
     denominators of the basic and diluted earnings per share  (EPS)
     computations for the three months ended March 31, 1998 and 1997
     (in millions of dollars and shares, except per share amounts).
<TABLE>
<CAPTION>
                                Three Months Ended March 31
                                      1998         1997
<S>                                  <C>           <C>
     Basic EPS:
       Numerator, Net Income          $   3        $  66
    Denominator, Common Shares
        Outstanding                   106.1        105.3
                                      -----        -----
     Basic EPS                        $ .02        $ .63
                                      =====        =====

     Diluted EPS:
       Numerator, Net Income          $   3        $  66
        Potential Common Shares:
          Debentures*                     -            2
                                      -----        -----
        Total Net Income                  3           68
                                      -----        -----
    Denominator, Common Shares
        Outstanding                   106.1        105.3
        Potential Common Shares:
        Common Stock Options**           .4           .4
        Debentures*                       -          5.1
                                      -----        -----
        Total                         106.5        110.8
                                      -----        -----
     Diluted EPS                      $ .02        $ .61
                                      =====        =====
<FN>
     * The Company has reserved 5,111,438 shares of Common Stock for
       issuance to the owners of its 7 1/2% Convertible Subordinated
       Debentures due 2014 (Debentures).  The Debentures were not 
       included in the computation of diluted shares for the period 
       ended March 31, 1998 since they have an anti- dilutive effect.

   **  Common Stock options to purchase 2.3 million and 2.4 million 
       shares of Common Stock were outstanding but not included in 
       the computation of diluted EPS at March 31, 1998 and 1997 
       because the various exercise prices of the options were 
       greater than the average market price of the common shares.
</TABLE>
<PAGE>
PAGE 9
                         ORYX ENERGY COMPANY
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                             (Unaudited)
                             (continued)

5.   Properties, Plants and Equipment

     At  March  31,  1998  and  December  31,  1997,  the  Company's
     properties,  plants  and  equipment;  and  related  accumulated
     depreciation, depletion and amortization were as follows:
<TABLE>
<CAPTION>
                                    March 31     December 31
                                      1998           1997
                                    (Millions of Dollars)
<S>                                <C>           <C>
     Gross investment............   $ 5,782        $ 5,626
     Less accumulated
       depreciation, depletion
       and amortization..........     3,874          3,815
                                    -------        -------
     Net investment..............   $ 1,908        $ 1,811
                                    =======        =======
</TABLE>

6.   Shareholders' Equity

     Shares of the Company's preferred and common stocks authorized,
     issued,  outstanding  and in treasury at  March  31,  1998  and
     December 31, 1997 were as follows:
<TABLE>
<CAPTION>
                                                            In
                       Authorized  Issued   Outstanding  Treasury
                              (Thousands of Shares)
<S>                    <C>         <C>      <C>          <C>
     March 31, 1998
      Preferred stock     15,000         -            -        -
      Preference stock     7,741         -            -        -
      Common stock       250,000   126,704      106,160  (17,542)
     December 31, 1997
      Preferred stock     15,000         -            -        -
      Preference stock     7,741         -            -        -
      Common stock       250,000   126,704      105,982  (17,720)
</TABLE>
<PAGE>
PAGE 10
                  REPORT OF INDEPENDENT ACCOUNTANTS


To the Shareholders and Board of Directors, Oryx Energy Company:


We  have  reviewed  the accompanying condensed consolidated  balance
sheet  of  Oryx Energy Company and its Subsidiaries as of March  31,
1998,  and  the related condensed consolidated statements of  income
and  cash flows for the three months ended March 31, 1998 and  1997.
These  financial statements are the responsibility of the  Company's
management.

We  conducted our review in accordance with standards established by
the American Institute of Certified Public Accountants.  A review of
interim  financial  information  consists  principally  of  applying
analytical review procedures to financial data and making  inquiries
of  persons responsible for financial and accounting matters.  It is
substantially  less in scope than an audit conducted  in  accordance
with  generally accepted auditing standards, the objective of  which
is  the  expression of an opinion regarding the financial statements
taken as a whole.  Accordingly, we do not express such an opinion.

Based  on our review, we are not aware of any material modifications
that  should  be  made  to  the accompanying condensed  consolidated
financial  statements  for them to be in conformity  with  generally
accepted accounting principles.

We  have  previously audited, in accordance with generally  accepted
auditing  standards, the consolidated balance sheet as  of  December
31, 1997, and the related consolidated statements of income and cash
flows  for  the year then ended (not presented herein); and  in  our
report  dated February 17, 1998, we expressed an unqualified opinion
on  those  consolidated financial statements. In  our  opinion,  the
information  set  forth  in the accompanying condensed  consolidated
balance  sheet  as of December 31, 1997, is fairly  stated,  in  all
material  respects,  in relation to the consolidated  balance  sheet
from which it has been derived.


                                   /s/ Coopers & Lybrand L.L.P.


Dallas, Texas
May 4, 1998
<PAGE>
PAGE 11
Item 2.   Management's   Discussion  and   Analysis   of   Financial
          Condition and Results of Operations


FINANCIAL CONDITION

The  Company's  cash and cash equivalents decreased  by  $2  million
during  the  three  months ended March 31, 1998.  The  decrease  was
comprised  of $139 million of net cash flow provided from  operating
activities,  $207  million  of  net cash  flow  used  for  investing
activities and $66 million of net cash flow provided from  financing
activities.   The  $139  million in  net  cash  flow  provided  from
operating  activities consisted of $100 million  in  net  cash  flow
provided from operating activities before changes in current  assets
and  liabilities  and $39 million provided from changes  in  current
assets  and liabilities.  The $100 million in net cash flow provided
from  operating  activities before changes  in  current  assets  and
liabilities was primarily impacted by lower revenues and the  timing
of exploration activities. The $39 million of net cash flow provided
from  changes in current assets and liabilities consisted of  a  $13
million  increase in accounts receivable and a $52 million  increase
in accounts payable.

The  $207 million in net cash flow used for investing activities and
the  $66 million in net cash flow provided from financing activities
are  primarily  due  to  a  cash use of  $193  million  for  capital
expenditures and a cash source of $64 million from net increases  in
debt.

In  the  fourth  quarter of 1995, the Company  incurred  a  net  $25
million   ($16   million  after-tax)  provision  for   restructuring
comprised  of  a  $4  million adjustment to the  1994  restructuring
provision  and a $29 million restructuring provision for a  plan  to
achieve   further   cost  reductions.  For  an   analysis   of   the
restructuring  provision, see Note 2 to the  Condensed  Consolidated
Financial Statements.
<PAGE>
PAGE 12
 2.  Management's Discussion and Analysis of Financial Condition and
     Results   of Operations - continued


RESULTS OF OPERATIONS

The Company's net income for the quarter ended March 31, 1998 was $3
million,  or  $.02  per  share, as compared to  net  income  of  $66
million,  or  $.63 per share for the quarter ended March  31,  1997.
Revenues  for the 1998 first quarter were $223 million  versus  $335
million for the first quarter of 1997.

Compared  to the same quarter last year, worldwide crude oil  prices
decreased  by $5.42 per barrel, or 27 percent, and U.S. natural  gas
prices  decreased by $.61 per mcf, or 22 percent.  Crude oil volumes
decreased  by  12 thousand barrels per day and natural  gas  volumes
decreased 128 million cubic feet per day.

Lower  crude oil volumes were primarily the result of an oil  export
interruption at Hutton and water-injection performance  problems  at
Ninian,  both  U.K.  North Sea fields.  The reduction  in  U.S.  gas
production  resulted  primarily from a  combination  of  third-party
related interruptions and a well blow-out at the Belle Isle field.

Comparing  first quarter expenses with the same quarter  last  year,
exploration costs were $35 million higher primarily due to increased
dry  hole expense and 3-D seismic purchased for the recent  Gulf  of
Mexico  lease  sale.   In that sale, the Company  was  the  apparent
winner   of  18  deep-water  blocks  off  the  coast  of  Louisiana.
Production  taxes were $28 million lower, primarily  the  result  of
lower revenues and a favorable settlement of field level tax issues.

The  Company  is  continuing to aggressively pursue its  exploration
activities during 1998 with plans to drill 17 wells, including 7  in
the Gulf of Mexico.  Eight wells were drilled in the first quarter.

The 1998 first quarter includes a $3 million net benefit relating to
a prior sale of assets and a $1 million charge for the remeasurement
of  foreign  deferred taxes.  By comparison, the 1997 first  quarter
included  a  $4  million benefit from the remeasurement  of  foreign
deferred taxes.

Average worldwide net production of crude oil and condensate for the
three  months  ended March 31, 1998 was 106 thousand  barrels  daily
compared to average net production for the three months ended  March
31,  1997 of 118 thousand barrels daily.  Average net production  of
crude oil and condensate was 48 thousand barrels daily in the United
States  and 58 thousand barrels daily from foreign locations  during
the  three  months  ended March 31, 1998, compared  to  41  thousand
barrels  daily  in the United States and 77 thousand  barrels  daily
from  foreign locations in the first quarter of 1997.   The  average
worldwide  crude  oil and condensate price in the first  quarter  of
1998  was  $14.44 per barrel compared to $19.86 per  barrel  in  the
first quarter of 1997.
<PAGE>
PAGE 13
Item 2.   Management's   Discussion  and   Analysis   of   Financial
          Condition and Results of Operations - continued


RESULTS OF OPERATIONS (continued)


Average  worldwide  net production of natural gas  was  396  million
cubic feet daily for the three months ended March 31, 1998, compared
to  524 million cubic feet in the three months ended March 31, 1997.
Average  net  production of natural gas was 382 million  cubic  feet
daily in the United States and 14 million cubic feet daily from  the
United Kingdom in the first quarter of 1998, compared to 512 million
cubic  feet  daily  in the United States and 12 million  cubic  feet
daily  from  the United Kingdom in the first quarter of  1997.   The
average worldwide price of natural gas for the first quarter of 1998
was  $2.16  per thousand cubic feet compared to $2.77  per  thousand
cubic feet in the first quarter of 1997.
<PAGE>
PAGE 14
                               PART II
                          OTHER INFORMATION
                                  


Item 6.  Exhibits and Reports on Form 8-K

       (a)     Exhibits:

               12   Computation of Consolidated Ratios of
                    Earnings to Fixed Charges and Earnings to  Fixed
                    Charges    and    Preferred    Stock    Dividend
                    Requirements.

              *15   Accountant's   letter   regarding
                    unaudited interim financial information.

               27   Financial Data Schedule for the year ended March 
                    31, 1998.

             27.1   Restated Financial Data Schedule for the  year
                    ended March 31, 1997.

             27.2   Restated Financial Data Schedule for the  year
                    ended December 31, 1996.

               28   Awareness letter of Coopers & Lybrand L.L.P.

        *      Attached as page 17 to this Form 10-Q.

       (b)     Reports on Form 8-K:

               The Company did not file any reports on Form 8-K
               during the quarter ended March 31, 1998.
<PAGE>
PAGE 15
                              SIGNATURE



Pursuant to the requirements of the Securities Exchange Act of 1934,
the  registrant  has duly caused this report to  be  signed  on  its
behalf by the undersigned thereunto duly authorized.


     ORYX ENERGY COMPANY





BY   /s/ EDWARD W. MONEYPENNY
     Edward W. Moneypenny
     (Executive Vice President, Finance,
      and Chief Financial Officer)



DATE May 4, 1998



<PAGE>