SEAGULL ENERGY CORP
5/A, 1998-02-18
NATURAL GAS TRANSMISISON & DISTRIBUTION
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check box if no longer subject to Section 16.
    Form 4 or Form 5 obligations may continue.

[ ] Form 3 Holdings Reported

[ ] Form 4 Transactions Reported

1. Name and Address of Reporting Person(s)
   GALT, BARRY J.
   1811 KIRBY DRIVE
   
   
   HOUSTON, TX  77019
2. Issuer Name and Ticker or Trading Symbol
   SEAGULL ENERGY CORPORATION (SGO)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
   ###-##-####
4. Statement for Month/Year
   12/97
5. If Amendment, Date of Original (Month/Year)
   02/16/98
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   [X] Director                   [ ] 10% Owner 
   [X] Officer (give title below) [ ] Other (specify below)
   COB, CEO, Pres. & Director 
7. Individual or Joint/Group Filing (Check Applicable Line)
   [X] Form filed by One Reporting Person
   [ ] Form filed by More than One Reporting Person

<TABLE>
<CAPTION>
Table I   Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security                           2)Trans-    3.Trans- 4.Securities Acquired(A)      5)Amount of    6)  7)Nature of     
                                              action      action   or Disposed of (D)            Securities         Indirect        
                                              Date        Code                   A               Beneficially   D   Beneficial      
                                              (Month/                            or              Owned at       or  Ownership       
                                              Day/Year)   Code     Amount        D  Price        End of Year    I                   
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                           <C>         <C>      <C>           <C><C>          <C>            <C><C>              

Common Stock                                                                                     161,000 (3)    D  Direct           
Common Stock                                                                                     12,690         I  401(k) Plan      
Common Stock                                                                                     7,003          I  ESOP             

<CAPTION>
Table II (PART 1)  Derivative Securitites Acquired, Disposed of, or Beneficially Owned  (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative          2)Conversion    3)Trans-       4)Trans-  5)Number of Derivative            6)Date Exercisable and    
Security                       or Exercise     action         action    Securities Acquired (A)           Expiration Date           
                               Price of        Date           Code      or Disposed of (D)                                          
                               Derivative                                                                                           
                               Security                       Code      A                D                Exercisable  Expiration   
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>             <C>            <C>       <C>              <C>              <C>          <C>          
Incentive Stock Option (right  $17.3750                                                                                07/10/05     
to buy)                                                                                                                             
Incentive Stock Option (right  $25.5000                                                                                06/01/04     
to buy)                                                                                                                             
Non-Qualified Stock Option     $6.3125                                                                                 09/20/98     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $8.4375                                                                                 11/08/99     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $11.9375                                                                                03/20/02     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $14.8750                                                                                09/28/00     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $17.3750                                                                                07/10/05     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $18.8125        07/15/97       A         100,000                           (1)          05/13/07     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $23.5000                                                                                07/16/06     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $25.5000                                                                                06/01/04     
(right to buy)                                                                                                                      
Non-Qualified Stock Option     $26.3750                                                                                05/11/03     
(right to buy)                                                                                                                      
Phantom Stock Units (2)                        01/01/97       A         1,529                                                       
Phantom Stock Units (2)                        01/15/97       A         143                                                         
Phantom Stock Units (2)                        01/31/97       A         145                                                         
Phantom Stock Units (2)                        02/15/97       A         154                                                         
Phantom Stock Units (2)                        02/28/97       A         161                                                         
Phantom Stock Units (2)                        03/10/97       A         1,885                                                       
Phantom Stock Units (2)                        03/15/97       A         170                                                         
Phantom Stock Units (2)                        03/31/97       A         172                                                         
Phantom Stock Units (2)                        04/15/97       A         183                                                         
Phantom Stock Units (2)                        04/30/97       A         269                                                         
Phantom Stock Units (2)                        05/15/97       A         266                                                         
Phantom Stock Units (2)                        05/31/97       A         257                                                         
Phantom Stock Units (2)                        06/15/97       A         254                                                         
Phantom Stock Units (2)                        06/30/97       A         254                                                         
Phantom Stock Units (2)                        07/15/97       A         251                                                         
Phantom Stock Units (2)                        07/31/97       A         236                                                         
Phantom Stock Units (2)                        08/15/97       A         220                                                         
Phantom Stock Units (2)                        08/31/97       A         202                                                         
Phantom Stock Units (2)                        09/15/97       A         193                                                         
Phantom Stock Units (2)                        09/30/97       A         186                                                         
Phantom Stock Units (2)                        10/15/97       A         177                                                         
Phantom Stock Units (2)                        10/31/97       A         177                                                         
Phantom Stock Units (2)                        11/15/97       A         188                                                         
Phantom Stock Units (2)                        11/30/97       A         196                                                         
Phantom Stock Units (2)                        12/15/97       A         206                                                         
Phantom Stock Units (2)                        12/31/97       A         219                                                         

<CAPTION>
Table II (PART 2)  Derivative Securitites Acquired, Disposed of, or Beneficially Owned  (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative          3)Trans-  7)Title and Amount                           8)Price     9)Number of   10) 11)Nature of    
Security                       action    of Underlying                                of Deri-    Derivative        Indirect        
                               Date      Securities                                   vative      Securities    D   Beneficial      
                                                                        Amount or     Security    Beneficially  or  Ownership       
                                                                        Number of                 Owned at      I                   
                  -                      Title                          Shares                    End of Year                       
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>       <C>                            <C>           <C>         <C>           <C> <C>             

Incentive Stock Option (right            Common Stock                   7,300                     7,300         D   Direct          
to buy)                                                                                                                             
Incentive Stock Option (right            Common Stock                   9,600                     9,600         D   Direct          
to buy)                                                                                                                             
Non-Qualified Stock Option               Common Stock                   192,000                   192,000       D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   48,000                    48,000        D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   150,000                   150,000       D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   150,000                   150,000       D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   92,700                    92,700        D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option     07/15/97  Common Stock                   100,000                   100,000       D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   100,000                   100,000       D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   90,400                    90,400        D   Direct          
(right to buy)                                                                                                                      
Non-Qualified Stock Option               Common Stock                   100,000                   100,000       D   Direct          
(right to buy)                                                                                                                      
Phantom Stock Units (2)        01/01/97  Common Stock                   1,529                                   D   Direct          
Phantom Stock Units (2)        01/15/97  Common Stock                   143                                     D   Direct          
Phantom Stock Units (2)        01/31/97  Common Stock                   145                                     D   Direct          
Phantom Stock Units (2)        02/15/97  Common Stock                   154                                     D   Direct          
Phantom Stock Units (2)        02/28/97  Common Stock                   161                                     D   Direct          
Phantom Stock Units (2)        03/10/97  Common Stock                   1,885                                   D   Direct          
Phantom Stock Units (2)        03/15/97  Common Stock                   170                                     D   Direct          
Phantom Stock Units (2)        03/31/97  Common Stock                   172                                     D   Direct          
Phantom Stock Units (2)        04/15/97  Common Stock                   183                                     D   Direct          
Phantom Stock Units (2)        04/30/97  Common Stock                   269                                     D   Direct          
Phantom Stock Units (2)        05/15/97  Common Stock                   266                                     D   Direct          
Phantom Stock Units (2)        05/31/97  Common Stock                   257                                     D   Direct          
Phantom Stock Units (2)        06/15/97  Common Stock                   254                                     D   Direct          
Phantom Stock Units (2)        06/30/97  Common Stock                   254                                     D   Direct          
Phantom Stock Units (2)        07/15/97  Common Stock                   251                                     D   Direct          
Phantom Stock Units (2)        07/31/97  Common Stock                   236                                     D   Direct          
Phantom Stock Units (2)        08/15/97  Common Stock                   220                                     D   Direct          
Phantom Stock Units (2)        08/31/97  Common Stock                   202                                     D   Direct          
Phantom Stock Units (2)        09/15/97  Common Stock                   193                                     D   Direct          
Phantom Stock Units (2)        09/30/97  Common Stock                   186                                     D   Direct          
Phantom Stock Units (2)        10/15/97  Common Stock                   177                                     D   Direct          
Phantom Stock Units (2)        10/31/97  Common Stock                   177                                     D   Direct          
Phantom Stock Units (2)        11/15/97  Common Stock                   188                                     D   Direct          
Phantom Stock Units (2)        11/30/97  Common Stock                   196                                     D   Direct          
Phantom Stock Units (2)        12/15/97  Common Stock                   206                                     D   Direct          
Phantom Stock Units (2)        12/31/97  Common Stock                   219                       57,515        D   Direct          

<FN>
Explanation of Responses:

(1)
The option, which represents a right-to-buy, vests in four equal annual installments beginning one year from date of grant.         
(2)
1-for-1                                                                                                                             
(3)
Includes 30,000 shares, previously reported,  held by certain trusts with respect to which reporting person has no pecuniary        
interest and disclaims any beneficial ownership.                                                                                    
- -
The ESOP security holdings reflected in Table I are as of December 31, 1996 as the allocation of these securities for the year ended
 December 31, 1997 has not been completed as of the date of this filing but will be provided on an amended Form 5 as soon as the    
information becomes available.                                                                                                      

</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ By: Sylvia Sanchez
    For: Barry J. Galt
DATE 


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