<ARTICLE> 5 <CIK> 0000943861 <NAME> GOODRICH PETROLEUM CORPORATION <PERIOD-TYPE> 3-mos <FISCAL-YEAR-END> Dec-31-1997 <PERIOD-START> Jan-01-1997 <PERIOD-END> Mar-31-1997 <CASH> 1,200,493 <SECURITIES> 675,200 <RECEIVABLES> 3,201,146 <ALLOWANCES> 24,945 <INVENTORY> 0 <CURRENT-ASSETS> 5,235,796 <PP&E> 36,510,199 <DEPRECIATION> 5,784,656 <TOTAL-ASSETS> 39,481,573 <CURRENT-LIABILITIES> 4,186,970 <BONDS> 18,000,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 1,551,149 <COMMON> 8,360,902 <OTHER-SE> 7,302,292 <TOTAL-LIABILITY-AND-EQUITY> 39,481,573 <SALES> 3,433,643 <TOTAL-REVENUES> 3,597,419 <CGS> 0 <TOTAL-COSTS> 2,540,749 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 319,712 <INCOME-PRETAX> 736,958 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 736,958 <EPS-PRIMARY> .09 <EPS-DILUTED> 0