UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
DOUGAN, PAUL M
P.O. BOX 959
SALT LAKE CITY, UT 84110
2. Issuer Name and Ticker or Trading Symbol
EQUITY OIL COMPANY
EQTY
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
March 31, 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
PRESIDENT, CHIEF EXECUTIVE OFFICER
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
EQUITY OIL COMPANY COMMON S|012698|A |V|4,700 (1) |A |$2.50 |126,094 |D | |
TOCK | | | | | | | | | |
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EQUITY OIL COMPANY COMMON S|031698|S | |5,000 |D |$2.5625 |61,676 |I |By spouse |
TOCK | | | | | | | | | |
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| | | | | | |35,000 (2) |I |By 401 (k) plan |
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| | | | | | |31,206 |I |By limited partnership |
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| | | | | | |3,470 (3) |I |By spouse as trustee |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Non-qualified options |$2.50 |01269|A |V|54,000 (4) |A |01269|01260|Equity Oil C|54,000 |$2.50 |54,000 |D | |
to purchase Equity Oil| |8 | | | | |9 |8 |ommon | | | | | |
Company common stock | | | | | | | | | | | | | | |
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Explanation of Responses:
(1) Restriced stock issued by Company's Board of Directors as part of
performance bonus.
(2) During March of 1998, the reporting person acquired 35,000 shares of Equity
Oil Common stock under the Equity Oil 401(k) plan.
(3) The reporting person disclaims any beneficial ownership in 2,470 of these
shares.
(4) Options granted under the Equity Oil Company 1993 Incentive Stock Option
Plan, a rule 16 b(3).
