<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PENNACO
ENERGY, INC.'S SEPTEMBER 30, 1998 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS 
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-26-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                       1,358,125
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             1,686,878
<PP&E>                                      16,300,887
<DEPRECIATION>                                (34,217)
<TOTAL-ASSETS>                              19,297,963
<CURRENT-LIABILITIES>                        6,678,007
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        14,795
<OTHER-SE>                                  12,605,161
<TOTAL-LIABILITY-AND-EQUITY>                19,297,963
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                4,736,642
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             649,946
<INCOME-PRETAX>                            (5,356,338)
<INCOME-TAX>                               (1,280,000)
<INCOME-CONTINUING>                        (4,076,338)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (4,076,338)
<EPS-PRIMARY>                                    (.38)
<EPS-DILUTED>                                    (.38)