<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS - BALANCE SHEETS AT MARCH 31, 1998 (UNAUDITED) AND THE
STATEMENTS OF OPERATIONS AT MARCH 31, 1998 (UNAUDITED) OF MIDDLE BAY OIL
COMPANY, INC. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                       5,947,033
<SECURITIES>                                         0
<RECEIVABLES>                                2,949,999
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             9,574,815
<PP&E>                                      83,542,655
<DEPRECIATION>                             (31,754,337)
<TOTAL-ASSETS>                              61,737,748
<CURRENT-LIABILITIES>                        7,099,620
<BONDS>                                     24,499,568
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  3,627,000
<COMMON>                                       157,059
<OTHER-SE>                                  32,962,632
<TOTAL-LIABILITY-AND-EQUITY>                61,737,748
<SALES>                                      2,632,248
<TOTAL-REVENUES>                             2,756,890
<CGS>                                        1,929,761
<TOTAL-COSTS>                                1,929,761
<OTHER-EXPENSES>                             4,644,001
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             255,453
<INCOME-PRETAX>                             (2,142,564)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                         (1,414,092)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                (1,482,037)
<EPS-PRIMARY>                                     (.22)
<EPS-DILUTED>                                     (.22)