SECURITIES AND EXCHANGE COMMISSION

                           WASHINGTON, D.C.  20549


                             ______________________



                                   FORM 8-K


                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


                       Date of Report:  December 30, 1998
                        (Date of earliest event reported)


                           FORMAN PETROLEUM CORPORATION
              (Exact name of Registrant as specified in charter)




       Louisiana                   333-31375                   72-0954774
(State or other juris-            (Commission               (IRS Employer 
diction of incorporation)         File No.)                 Identification No.)


650 Poydras Street, Suite 2200, New Orleans, Louisiana                70130
(Address of Principal Executive Offices)                             (Zip Code)


Registrant's telephone no., including area code:  (504) 586-8888

                                      N/A                                
        (Former Name or Former Address, if Changed Since Last Report)


Item 5.      Other Events. 

             Forman Petroleum Corporation ("Forman") issued today a press 
release in which the Company announced the nonpayment of the December 1, 1998
installment of interest due on the Company's 13.5% Senior Secured Notes Due
June 1, 2004 within the thirty-day grace period provided for such payment.
The Company intends to use available funds for exploration and development
projects.  

             The Company is continuing in its efforts to negotiate a debt
restructuring and/or recapitalization of the Company (the "Recapitalization"). 
It is the Company's policy, absent unusual circumstances, not to comment
publicly on discussions concerning proposals that may be considered or
transactions that may be pending with respect to the Recapitalization.  The
Company also intends, absent unusual circumstances, to refrain from making
any further announcements or reports with respect to the Recapitalization
unless and until a definitive agreement has been executed by the Company with
respect to a transaction in connection with the Recapitalization.  There can
be no assurance that the Company will consummate any transactions in
connection with the Recapitalization.   

             A copy of the press release is filed with this report as Exhibit
99.5 and is incorporated herein by reference.




Item 7.  Financial Statements and Exhibits.   

       (c)   Exhibits

Exhibit No.         Description                                  Page No.
   99.5             Press Release                                Filed Herewith





                                     SIGNATURES

             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.

                                       FORMAN PETROLEUM CORPORATION


Dated:  December 31, 1998              By:  /s/ McLain J. Forman
                                            McLain J. Forman
                                            Chairman of the Board,
                                            Chief Executive Officer and
                                            President 



                                  INDEX TO EXHIBITS


Exhibit No.         Description                                  Page No.

   99.5             Press Release                                Filed Herewith