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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[X] 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)
GOODPASTURE, JOHN N
318 HUNTERS TRAIL
HOUSTON, TX 77024
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
12/98
5. If Amendment, Date of Original (Month/Year)
02/15/99
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[ ] Officer (give title below) [X] Other (specify below)
Former Sr. V.P. Pipelines
& Marketing
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 5,500 D Direct
Common Stock 14,716 I 401(k) Plan
Common Stock 9,360 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 $11.9375 03/20/02
(right to buy)
Non-Qualified Stock Option $16.5000 07/15/08
(right to buy)
Non-Qualified Stock Option $17.3750 07/10/05
(right to buy)
Non-Qualified Stock Option $18.8125 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 (1) 01/01/98 A 361
Phantom Stock Units (1) 01/15/98 A 71
Phantom Stock Units (1) 01/31/98 A 76
Phantom Stock Units (1) 02/15/98 A 78
Phantom Stock Units (1) 02/28/98 A 82
Phantom Stock Units (1) 03/15/98 A 83
Phantom Stock Units (1) 03/31/98 A 80
Phantom Stock Units (1) 04/15/98 A 75
Phantom Stock Units (1) 04/30/98 A 76
Phantom Stock Units (1) 05/15/98 A 79
Phantom Stock Units (1) 05/31/98 A 81
Phantom Stock Units (1) 06/15/98 A 85
Phantom Stock Units (1) 06/30/98 A 88
Phantom Stock Units (1) 07/15/98 A 85
Phantom Stock Units 07/31/98 A 89
Phantom Stock Units (1) 08/15/98 A 105
Phantom Stock Units (1) 08/31/98 A 114
Phantom Stock Units (1) 09/15/98 A 174
Phantom Stock Units (1) 09/30/98 A 180
Phantom Stock Units (1) 10/15/98 A 174
Phantom Stock Units 10/31/98 A 178
Phantom Stock Units (1) 11/15/98 A 169
Phantom Stock Units (1) 11/30/98 A 173
Phantom Stock Units (1) 12/15/98 A 221
Phantom Stock Units (1) 12/31/98 A 298
<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 25,000 25,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 36,000 36,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 12,700 12,700 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 36,000 36,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 20,000 20,000 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 6,400 6,400 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 16,000 16,000 D Direct
(right to buy)
Phantom Stock Units (1) 01/01/98 Common Stock 361 $20.6250 D Direct
Phantom Stock Units (1) 01/15/98 Common Stock 71 $19.5625 D Direct
Phantom Stock Units (1) 01/31/98 Common Stock 76 $18.3250 D Direct
Phantom Stock Units (1) 02/15/98 Common Stock 78 $17.7031 D Direct
Phantom Stock Units (1) 02/28/98 Common Stock 82 $16.9813 D Direct
Phantom Stock Units (1) 03/15/98 Common Stock 83 $16.7000 D Direct
Phantom Stock Units (1) 03/31/98 Common Stock 80 $17.3219 D Direct
Phantom Stock Units (1) 04/15/98 Common Stock 75 $18.4594 D Direct
Phantom Stock Units (1) 04/30/98 Common Stock 76 $18.2563 D Direct
Phantom Stock Units (1) 05/15/98 Common Stock 79 $17.6594 D Direct
Phantom Stock Units (1) 05/31/98 Common Stock 81 $17.0813 D Direct
Phantom Stock Units (1) 06/15/98 Common Stock 85 $16.2625 D Direct
Phantom Stock Units (1) 06/30/98 Common Stock 88 $15.7969 D Direct
Phantom Stock Units (1) 07/15/98 Common Stock 85 $16.3750 D Direct
Phantom Stock Units 07/31/98 Common Stock 89 $15.6438 D Direct
Phantom Stock Units (1) 08/15/98 Common Stock 105 $13.2000 D Direct
Phantom Stock Units (1) 08/31/98 Common Stock 114 $12.2250 D Direct
Phantom Stock Units (1) 09/15/98 Common Stock 174 $10.9281 D Direct
Phantom Stock Units (1) 09/30/98 Common Stock 180 $11.0156 D Direct
Phantom Stock Units (1) 10/15/98 Common Stock 174 $11.3781 D Direct
Phantom Stock Units 10/31/98 Common Stock 178 $11.1375 D Direct
Phantom Stock Units (1) 11/15/98 Common Stock 169 $11.7688 D Direct
Phantom Stock Units (1) 11/30/98 Common Stock 173 $11.4844 D Direct
Phantom Stock Units (1) 12/15/98 Common Stock 221 $8.9781 D Direct
Phantom Stock Units (1) 12/31/98 Common Stock 298 $6.6531 15,012 D Direct
<FN>
Explanation of Responses:
(1)
1-for-1
- -
Reporting person's increase in balance of Securities Beneficially Owned in the 401(k) Plan reported in Table I is a result of
contributions made during 1998.
- -
To update ESOP information in Table I previously provided to reflect 12/31/98 share information.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ By: Sylvia Sanchez
For: John N. Goodpasture
DATE
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