SHERIDAN ENERGY INC
3, 1997-12-24
OIL & GAS FIELD EXPLORATION SERVICES
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                                                            OMB APPROVAL       
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- --------                                            OMB Number:  3235-0104  
 FORM 3                                             Expires: September 30, 1998
- --------                                            Estimated average burden 
                                                    hours per response .... 0.5
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                    U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
                                 Section 17(a)
      of the Public Utility Holding Company Act of 1935 or Section 30(f)
                     of the Investment Company Act of 1940


<TABLE>
<S>                                        <C>                           <C>                                  <C>                 
- -----------------------------------------------------------------------------------------------------------------------------------
 1. Name and Address of Reporting Person*  2. Date of Event Requiring    4. Issuer Name and Ticker or         6. If Amendment, Date 
    ENRON CORP.                               Statement                     Trading Symbol                       of Original
- ----------------------------------------      (Month/Day/Year)           SHERIDAN ENERGY, INC. (NASDAQ:SHDN)     (Month/Day/Year)
     (Last)     (First)     (Middle)            12/15/97                 ------------------------------------           
    1400 SMITH STREET                      ----------------------------  5. Relationship of Reporting         7. Individual or
- ----------------------------------------   3. IRS or Social Security          Person to Issuer                   Joint/Group Filing
             (Street)                         Number of Reporting           (Check all applicable)               (check applicable
                                              Person (Voluntary)               Director     X    10% Owner       box)              
                                                                         -----            -----
                                                                               Officer           Other (specify  [ ] Form filed by
    HOUSTON, TEXAS 77002                                                 -----            -----        below)        One Reporting
- --------------------------------------     ----------------------------  (give title below)                          Person    
      (City)      (State)      (Zip)                                                                                 
                                                                               ---------------------------       [X] Form filed by
                                                                                                                     More than One
                                                                                                                     Reporting
                                                                                                                     Person
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                                                            TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED      
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 1. Title of Security                         2. Amount of Securities         3. Ownership Form:         4. Nature of Indirect     
    (Instr. 4)                                   Beneficially Owned              Direct (D) or              Beneficial    
                                                 (Instr. 4)                      Indirect (I)               Ownership (Instr. 5)
                                                                                 (Instr. 5)                 
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    COMMON STOCK                                 1,600,000 SHARES                (I)                        (*) SEE BELOW
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*If the form is filed by more than one reporting person see Instruction 5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
                                                                               (Print or Type Responses)             SEC 1473 (7/96)


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<TABLE>
<CAPTION>
 
FORM 3 (CONTINUED)               TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
                            (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
 
<S>                              <C>                <C>                            <C>           <C>         <C>        
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1. Title of Derivative Security  2. Date            3. Title and Amount of         4. Conver-    5. Owner-   6. Nature of Indirect
   (Instr. 4)                       Exercisable and    Securities Underlying          sion or       ship        Beneficial Ownership
                                    Expiration Date    Derivative Security            Exercise      Form of     (Instr. 5)          
                                    (Month/Day/        (Instr. 4)                     Price of      Deriv-                         
                                    Year)                                             Deri-         ative                          
                                                                                      vative        Security:                      
                                                                                      Security      Direct                         
                                 -------------------------------------------------                  (D) or                         
                                 Date      Expira-                       Amount or                  Indirect (I)  
                                 Exercis-  tion             Title        Number                     (Instr. 5)             
                                 able      Date                          of Shares                                                 
                                                                                                                                   
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Explanation of Responses:
 
The shares referenced in this filing are owned of record by Enron Capital & Trade Resources Corp., a wholly owned subsidiary of
Enron Corp. Enron Corp. disclaims beneficial ownership of these shares.
                                                                /s/ PEGGY S. NENCHACA                                      12-23-97
                                                                ----------------------------------------------------  --------------
                                                                Peggy S. Nenchaca - Vice President and Secretary            Date

**Intentional misstatements or omissions of facts constitute Federal Criminal        -------------------------------   -------------
  Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                             **Signature of Reporting Person        Date

Note. File three copies of this Form, one of which must be manually signed.                                           Page 2     
      If space provided is insufficient, See Instruction 6 for procedure.                                           SEC 1473 (7/96)

      Potential persons who are to respond to the collection of information
      contained in this form are not required to respond unless the form displays
      a currently valid OMB number.

                                                        Page 2 of  2 pages
</TABLE>
 



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