<ARTICLE>                     5
<LEGEND>
     This schedule contains summary financial information extracted from the 
     consolidated balance sheet of Stone Energy Corporation as of March 31, 
     1998 and the related statement of operations for the quarter ended March 
     31, 1998 and is qualified in its entirety by reference to such financial
     statements included in Stone Energy Corporation's quarterly report on 
     Form 10-Q.  Note that earnings per share data has been reflected in 
     accordance with SFAS 128. 
</LEGEND>                                                
<MULTIPLIER>                                   1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   MAR-31-1998
<CASH>                                         9,538
<SECURITIES>                                   32,857
<RECEIVABLES>                                  22,223
<ALLOWANCES>                                        0
<INVENTORY>                                         0
<CURRENT-ASSETS>                               64,674
<PP&E>                                         10,940
<DEPRECIATION>                                  2,500
<TOTAL-ASSETS>                                401,488
<CURRENT-LIABILITIES>                          51,861
<BONDS>                                       100,000
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                         0
<COMMON>                                          151
<OTHER-SE>                                    160,013
<TOTAL-LIABILITY-AND-EQUITY>                  401,488
<SALES>                                        28,357
<TOTAL-REVENUES>                               28,795
<CGS>                                               0
<TOTAL-COSTS>                                  19,801
<OTHER-EXPENSES>                                1,347
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                              2,529
<INCOME-PRETAX>                                 5,118
<INCOME-TAX>                                    1,820
<INCOME-CONTINUING>                             3,298
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                     0
<CHANGES>                                           0
<NET-INCOME>                                    3,298
<EPS-PRIMARY>                                    0.22
<EPS-DILUTED>                                    0.22