==============================================================
                              
           U.S. SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549
                              
                         FORM 10-QSB
    X                          
(Mark One)
           QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended March 31, 1998

                              or

          TRANSITION REPORT UNDER SECTION 13 OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934
        For the Transition Period From .........to........


                 Commission File No. 0-20310


               SUPERIOR ENERGY SERVICES, INC.
(Exact name of small business issuer as specified in its charter)

         Delaware                              75-2379388
(State or other jurisdiction of             (I.R.S. Employer
 incorporation or organization)            Identification No.)

         1105 Peters Road
         Harvey,Louisiana                         70058
      (Address of principal executive offices)  (Zip Code)


          Issuer's telephone number: (504) 362-4321


                     1503 Engineers Road
               Belle Chasse, Louisiana  70037
   (Former name, former address and former fiscal year, if
                 changed since last report)        


      Check  whether  the  issuer:  (1)  filed  all  reports
required to be filed by Section 13 or 15 (d) of the Exchange
Act  during  the past 12 months (or for such shorter  period
that the registrant was required to file such reports),  and
(2)  has  been subject to such filing requirements  for  the
past 90 days.  Yes  X  No __

     The number of shares of the Registrants' common stock
outstanding on May 1, 1998 was 29,247,023.


===============================================================


PART 1.  FINANCIAL INFORMATION

Item 1. Financial Statements

       SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
            Condensed Consolidated Balance Sheets
            March 31, 1998 and December 31, 1997
                       (in thousands)
                                                           
                                                  3/31/98         12/31/97
                                                (Unaudited)       (Audited)

ASSETS
Current assets:                                         
  Cash and cash equivalents                     $   2,282        $   1,902
  Accounts receivable - net                        23,549           24,054 
  Inventories                                       1,788            1,778
  Other                                             1,731            1,513
                                                ---------        ---------
                                                        
        Total current assets                       29,350           29,247 
                                                        
Property, plant and equipment - net                59,484           51,797

Goodwill - net                                     35,186           35,989

Patent - net                                        1,002            1,027
                                                ---------        ---------
                                                 
        Total assets                            $ 125,022        $ 118,060
                                                =========        =========
                                                        
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                              $   6,203        $   5,976
  Accrued expenses                                  3,630            3,872
  Income taxes payable                              2,704              893
                                                ---------        ---------
                                                        
        Total current liabilities                  12,537           10,741
                                                ---------        --------- 

Deferred income taxes                               6,930            7,127
Long-term debt                                     12,165           11,339
                                        
                                                        
Stockholders' equity:                                   
  Preferred stock of $.01 par value                          
   Authorized, 5,000,000; none issued                  -                -
  Common stock of $.001 par value.                      
   Authorized, 40,000,000 shares;
   issued, 29,211,623                                  29               29
  Additional paid-in capital                       78,646           78,590
  Retained earnings                                14,715           10,234
                                                ---------        ---------
                                                        
        Total stockholders' equity                 93,390           88,853
                                                ---------        ---------   
                                                        
        Total liabilities and     
         stockholders' equity                   $ 125,022        $ 118,060 
                                                =========        =========
                              
                              
                              
                              
       SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
       Condensed Consolidated Statements of Operations
         Three Months Ended March 31, 1998 and 1997
            (in thousands, except per share data)
                         (unaudited)



                                                        1998         1997
                                                    ---------    ---------
                                                          
Revenues                                             $ 22,702     $  9,180
                                                    ---------    ---------
                                                       
Costs and expenses:                                    
  Costs of services                                     9,562        4,298
  Depreciation and amortization                         1,661          491
  General and administrative                            5,197        2,034
                                                    ---------    ---------

       Total costs and expenses                        16,420        6,823
                                                    ---------    ---------

Income from operations                                  6,282        2,357
                                                       
Other income (expense):                                
  Interest expense                                       (230)         (85)
  Gain on sale of subsidiary                            1,176            -
                                                    ---------    ---------

       Income before income taxes                       7,228        2,272
                                                       
Provision for income taxes                              2,747          750
                                                    ---------    ---------

Net income                                           $  4,481    $   1,522
                                                    =========    =========
                                                       
Earnings Per Share:                                    
   Basic                                             $   0.15    $    0.08
                                                    =========    =========
   Diluted                                           $   0.15    $    0.08
                                                    =========    =========

                                                       
Weighted average common shares used in                        
  computing earnings per share:                               
   Basic                                               29,182       18,743
                                                    =========    =========
   Diluted                                             29,531       20,046
                                                    =========    =========
                              
                              
       SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
       Condensed Consolidated Statements of Cash Flows
         Three Months Ended March 31, 1998 and 1997
                       (in thousands)
                         (unaudited)
                              

                                                        1998          1997
                                                      -------       -------
Cash flows from operating activities:
  Net income                                        $  4,481      $  1,522 
  Adjustments to reconcile net income                           
     to net cash provided by
      operating activities:
   Depreciation and amortization                       1,661           491
   Unearned income                                       -             126
   Gain on sale of subsidiary                         (1,176)           - 
   Changes in operating assets                    
   and liabilities, net of acquisition:                           
     Accounts receivable                                  85        (1,364) 
     Inventories                                         (10)          (18)
     Other - net                                         163           205
     Accounts payable                                    307           388
     Due to shareholders                                  -           (268)
     Accrued expenses                                   (381)         (338)
     Income taxes payable                              1,885           (21)
                                                   ---------     ---------
                                                          
Net cash provided by operating activities              7,015           723
                                                   ---------     --------- 
Cash flows from investing activities:
  Payments for purchases of property and 
     property and equipment                          (11,015)       (1,258)
  Additional payment for business acquired              (750)           - 
  Proceeds from sale of subsidiary                     4,247            - 
  Acquisition of business, net of cash acquired          -          (3,917)
                                                   ---------     ---------
      Net cash used in investing activities           (7,518)       (5,175)
                                                   ---------     --------- 

Cash flows from financing activities:
 Notes payable - bank                                    826         4,745
 Proceeds from exercise of stock options                  57           - 
                                                   ---------     ---------
   Net cash provided by financing activities             883         4,745
                                                   ---------     --------- 

   Net increase in cash and cash equivalents             380           293
 
                                                          
Cash and cash equivalents at beginning of period       1,902           433 
                                                   ---------     ---------

Cash and cash equivalents at end of period           $ 2,282      $    726
                                                   =========     =========



               SUPERIOR ENERGY SERVICES, INC.
                      AND SUBSIDIARIES
                              
    Notes to Condensed Consolidated Financial Statements
         Three Months Ended March 31, 1998 and 1997
                              
                              
(1)  Basis of  Presentation

Certain  information  and footnote disclosures  normally  in
financial  statements prepared in accordance with  generally
accepted  accounting  principles  have  been  condensed   or
omitted  pursuant to rules and regulations of the Securities
and  Exchange  Commission; however, management believes  the
disclosures  which  are  made  are  adequate  to  make   the
information  presented  not  misleading.   These   financial
statements and footnotes should be read in conjunction  with
the  financial statements and notes thereto included in  the
Company's  Annual Report on Form 10-KSB for the  year  ended
December   31,   1997   and  the  accompanying   notes   and
Management's Discussion and Analysis or Plan of Operation.

The  financial information for the three months ended  March
31,  1998 and 1997, has not been audited.  However,  in  the
opinion  of management, all adjustments (which include  only
normal  recurring adjustments) necessary to  present  fairly
the  results  of  operations for the periods presented  have
been  included therein.  The results of operations  for  the
first   three   months  of  the  year  are  not  necessarily
indicative  of  the  results of operations  which  might  be
expected for the entire year.

(2)  Business Combinations

In  1997, the Company acquired all of the outstanding common
stock  of  six  companies for a combined  $50,210,000  cash,
1,520,000   shares  of  the  Company's  common   stock   and
promissory notes totaling $20,655,000.  The amounts  payable
under   the   promissory  notes  are  subject   to   certain
contingencies  and  are  not  reflected  in  the  respective
company's  purchase  price.  Each of the  acquisitions  were
accounted for as a purchase and the results of operations of
the   acquired  companies  have  been  included  from  their
respective acquisition dates.

The  following unaudited pro forma information for the three
months   ended  March  31,  1997,  presents  a  summary   of
consolidated  results of operations as if  the  acquisitions
had  occurred on January 1, 1997 with pro forma  adjustments
to give effect to amortization of goodwill, depreciation and
certain  other adjustments together with related income  tax
effects (in thousands, except per share amounts):

Revenues                        $19,387
                                =======

Net earnings                    $ 2,465
                                =======

Basic earnings per share        $  0.12
                                =======

Diluted earnings per share      $  0.12
                                =======

The   above   pro  forma  information  is  not   necessarily
indicative  of the results of operations as they would  have
been had the acquisitions been effected on January 1, 1997.


(3) Earnings Per Share

In  1997  the  Financial Accounting Standards  Board  issued
Statement  of  Financial  Accounting  Standards   No.   128,
Earnings Per Share ("FAS No. 128"). FAS No. 128 requires the
replacement of previously reported primary and fully diluted
earnings  per share required by Accounting Principles  Board
Opinion  No. 15 with earnings per share and diluted earnings
per  share.  The calculation of earnings per share  excludes
any dilutive effect of stock options, while diluted earnings
per  share  includes the dilutive effect of  stock  options.
Per share amounts for the three month period ended March 31,
1997  have  been restated to conform to the requirements  of
FAS  No.  128.   The  number of dilutive stock  options  and
warrants  used in computing diluted earnings per share  were
349,000 in 1998 and 1,303,000 in 1997.

Item 2. Management's Discussion and Analysis or Plan of Operation

Comparison of the Results of Operations for the Quarters
Ended March 31, 1998 and 1997

The  Company  experienced significant growth in revenue  and
net  income in the first quarter of 1998 as compared to  the
same period in 1997.  The Company has continued to focus  on
the rental tool business and as a result, 60% of revenues in
the  first quarter of 1998 are from the rental tool area  as
compared with 16% in 1997.

The  Company's revenue increased 147% to $22.7  million  for
the  three months ended March 31, 1998, as compared to  $9.2
million  for the same period in 1997.  The majority  of  the
increase  is attributable to the acquisitions, primarily  of
rental  tool  businesses, that the Company has completed  in
1997.

The  Company's gross margin increased to 57.9% for the three
months ended March 31, 1998, from 53.2% for the three months
ended March 31, 1997. This increase was primarily due to the
increase in the percentage of the Company's revenue that was
generated by its rental tool operations, which generally has
higher  gross  margins  than the Company's  other  areas  of
operations.

Depreciation  and  amortization  increased  238%,  to   $1.7
million  for  the three months ended March  31,  1998,  from
$491,000 for three months ended March 31, 1997.  Most of the
increase  resulted  from  the larger  asset  base  that  has
resulted  from  the  Company's  acquisitions.   General  and
administrative expenses as a percentage of revenue  remained
relatively constant at 22.9% of revenue for the three months
ended  March  31, 1998, as compared to 22.2% of revenue  for
the three months ended March 31, 1997.  In the first quarter
of  1998,  the  Company sold Baytron, Inc.  for  a  gain  of
approximately $1.2 million.

Net  income  for  the  three months  ended  March  31,  1998
increased  194%  to $4.5 million from $1.5 million  for  the
comparable  period  last year.  Earnings per  diluted  share
increased  87.5%  to  $0.15 from $0.08 despite  the  diluted
weighted  average of common stock increasing by 47%  and  an
effective  income tax rate increase of 15%.  The strong  net
income  and earnings increases were the result of  increased
revenue,  higher  profit margins and the  gain  on  sale  of
subsidiary.

Capital Resources and Liquidity

For  the three months ended March 31, 1998, the Company  had
net  income  of  $4.5  million  and  net  cash  provided  by
operating  activities  of  $7.0 million,  compared  to  $1.5
million  and $723,000, respectively, for the same period  in
1997.   The  Company's  EBITDA  (earnings  before  interest,
taxes,  depreciation  and amortization)  increased  to  $7.9
million,  exclusive of the gain on sale of  subsidiary,  for
the  three months ended March 31, 1998, as compared to  $2.8
million  for the same period in 1997.  The increase  in  net
income, cash flow and EBITDA was primarily the result of the
acquisitions completed in 1997.

 In the first three months of 1998, the Company made capital
expenditures of $11.0 million primarily for rental equipment
inventory,  P&A  equipment spreads  and  renovation  of  the
Company's  new operating facility.  The Company, as  of  the
end  of  the  first quarter, consolidated  all  of  its  New
Orleans  area  sales and administrative  functions  in  this
facility.  The Company, in the first quarter of 1998, made a
final payment of $750,000 in connection with the acquisition
of  Dimensional  Oil  Field Services,  Inc.   In  the  first
quarter of 1998, the Company received cash proceeds of  $4.2
million for the sale of Baytron, Inc.

The  Company maintains a Bank Credit Facility which provides
for  a revolving line of credit up to $45.0 million, matures
on  April 30, 2000, and bears interest at an annual rate  of
LIBOR  plus  a  margin that depends on  the  Company's  debt
coverage  ratio.  As of May 6, 1998 there was $14.2  million
outstanding  under the Bank Credit Facility at  an  interest
rate of approximately 7.4% per annum.  Borrowings under  the
Bank Credit Facility are available for acquisitions, working
capital,  letters of credit and general corporate  purposes.
Indebtedness under the Bank Credit Facility is guaranteed by
the  Company's subsidiaries, collateralized by substantially
all of the assets of the Company and its subsidiaries, and a
pledge   of   all   the  common  stock  of   the   Company's
subsidiaries.   Pursuant to the Bank  Credit  Facility,  the
Company  has  agreed to maintain certain  financial  ratios.
The Bank Credit Facility also imposes certain limitations on
the ability of the Company to make capital expenditures, pay
dividends  or  other  distributions  to  shareholders,  make
acquisitions  or  incur indebtedness  outside  of  the  Bank
Credit Facility.

Management  currently believes that the  Company  will  have
additional capital expenditures, excluding acquisitions,  of
approximately  $12  million  in 1998  primarily  to  further
expand its rental tool inventory.  The Company believes that
cash  generated from operations and availability  under  the
Bank  Credit Facility will provide sufficient funds for  the
Company's  identified capital projects and  working  capital
requirements.   However,  part  of  the  Company's  strategy
involves  the acquisition of companies, which have  products
and services complementary to the Company's existing base of
operations.    Depending  on  the   size   of   any   future
acquisitions,  the  Company  may  require  additional   debt
financing  possibly  in excess of the  limits  of  the  Bank
Credit Facility or additional equity financing.

The  Company  has  considered the impact of  the  year  2000
issues on its computer systems and has determined that it is
year 2000 compliant.

In  June  1997,  the  FASB  issued  Statement  of  Financial
Accounting Standards No. 131, Disclosures about Segments  of
an  Enterprise and Related Information ("FAS No. 131").  FAS
No. 131 establishes standards for the way public enterprises
are to report information about operating segments in annual
financial statements and requires the reporting of  selected
information  about  operating segments in interim  financial
reports   issued  to  shareholders.   It  also   establishes
standards   for  related  disclosures  about  products   and
services,  geographic  areas,  and  major  customers.    The
Company  plans  to  adopt FAS No. 131  for  the  year  ended
December 31, 1998.


PART II.  OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

a)   The following exhibit is filed with this Form 10-QSB

  27.1  Financial Data Schedule

b) The Company did not file any reports on Form 8-K during
the quarter ended March 31, 1998.








                         SIGNATURES
                              
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.


                              SUPERIOR ENERGY SERVICES, INC.



Date: May 14, 1998            By: /s/ Terence E. Hall
                                      Terence E. Hall
                                  Chairman of the Board,
                          Chief Executive Officer and President
                              (Principal Executive Officer)



Date: May 14, 1998            By: /s/ Robert S. Taylor
                                      Robert S. Taylor
                                  Chief Financial Officer
                        (Principal Financial and Accounting Officer)


 

5 1,000 3-MOS DEC-31-1998 MAR-31-1998 2,282 0 24,114 (565) 1,788 29,350 64,004 (4,520) 125,022 12,537 0 0 0 29 93,361 125,022 22,702 22,702 9,562 16,420 0 0 230 7,228 2,747 4,481 0 0 0 4,481 0.15 0.15