<ARTICLE>                     5
<LEGEND>
This schedule  contains summary  financial  information  extracted from (A) tyhe
Company's condensed  consolidated statement of income for the three months ended
March 31,  1998,  and is  qualified  in its  entirety by  reference  to such (B)
financial  statements  presented in quarterly report Form 10-Q for the quarterly
period ended March 31, 1998. 
</LEGEND>
<CIK>                                          0000312340
<NAME>                                         Saba Petroleum Company
<MULTIPLIER>                                   1,000
<CURRENCY>                                     0
       
                                            
<PERIOD-TYPE>                                  3-MOS
<FISCAL-YEAR-END>                              Dec-31-1997
<PERIOD-START>                                 Jan-01-1998
<PERIOD-END>                                   Mar-31-1998
<EXCHANGE-RATE>                                1
<CASH>                                         318
<SECURITIES>                                   0
<RECEIVABLES>                                  5,704
<ALLOWANCES>                                   (72)
<INVENTORY>                                    0
<CURRENT-ASSETS>                               4,167
<PP&E>                                         88,210
<DEPRECIATION>                                 (35,014)
<TOTAL-ASSETS>                                 65,726
<CURRENT-LIABILITIES>                          38,542
<BONDS>                                        5,856
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    8,661
<COMMON>                                       16,771
<OTHER-SE>                                     (5,041)
<TOTAL-LIABILITY-AND-EQUITY>                   65,726
<SALES>                                        0
<TOTAL-REVENUES>                               6,473
<CGS>                                          0
<TOTAL-COSTS>                                  18,047
<OTHER-EXPENSES>                               0
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             727
<INCOME-PRETAX>                                (12,245)
<INCOME-TAX>                                   (222)
<INCOME-CONTINUING>                            (12,017)
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   (12,017)
<EPS-PRIMARY>                                  (1.11)
<EPS-DILUTED>                                  (1.11)