Voegele Brian C · 4 · Transocean Offshore Inc · For 5/1/98

Filed On 5/13/98   ·   SEC File 1-07746   ·   Accession Number 1058648-98-8

Statement of Change in Beneficial Ownership of Securities   ·   Form 4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Form 4 - May 1, 1998                                   3±    17K 

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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                                         
Voegele, Brian C.                                                         
4 Greenway Plaza                                                          
Houston, Texas  77046                                                     
USA                                                                       
2. Issuer Name and Ticker or Trading Symbol                                     
Transocean Offshore Inc.                                                  
RIG                                                                       
3. IRS or Social Security Number of Reporting Person (Voluntary)                

4. Statement for Month/Year                                                     
May 1, 1998                                                               
5. If Amendment, Date of Original (Month/Year)                                  

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)         
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other       
(specify below)                                                           
Vice President                                                            
7. Individual or Joint/Group Filing (Check Applicable Line)                     
(X) Form filed by One Reporting Person                                    
( ) Form filed by More than One Reporting Person                          

                                                        · Enlarge/Download Table

___________________________________________________________________________________________________________________________________ 
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
___________________________________________________________________________________________________________________________________|
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)|                           |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
Common Stock               |4/30/9|M   | |2,400             |A  |$8.375     |                   |      |                           |
                           |8     |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |4/30/9|M   | |7,200             |A  |$10.50     |                   |      |                           |
                           |8     |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |4/30/9|M   | |4,400             |A  |$23.4375   |                   |      |                           |
                           |8     |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |4/30/9|M   | |1,466             |A  |$28.75     |                   |      |                           |
                           |8     |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |4/30/9|S   | |15,466            |D  |$54.1875   |1,000 (1)          |D     |                           |
                           |8     |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |      |    | |                  |   |           |813                |I     |(2)                        |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|

___________________________________________________________________________________________________________________________________ 
 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
___________________________________________________________________________________________________________________________________|
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)|            |
___________________________________________________________________________________________________________________________________|
                                                                                                                                    
Executive Stock Option|$8.375  |4/30/|M   | |2,400      |D  |(3)  |1/27/|Common Stock|2,400  |       |0           |D  |            |
s                     |        |98   |    | |           |   |     |04   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Executive Stock Option|$10.50  |4/30/|M   | |7,200      |D  |(4)  |2/23/|Common Stock|7,200  |       |0           |D  |            |
s                     |        |98   |    | |           |   |     |05   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Executive Stock Option|$23.4375|4/30/|M   | |4,400      |D  |(5)  |2/23/|Common Stock|4,400  |       |1,200       |D  |            |
s                     |        |98   |    | |           |   |     |06   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Executive Stock Option|$28.75  | 4/30|M   | |1,466      |D  |(6)  |3/12/|Common Stock|1,466  |       |2,934       |D  |            |
s                     |        |/98  |    | |           |   |     |07   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
___________________________________________________________________________________________________________________________________|

Explanation of Responses:                                                       
(1)  Includes shares of unvested restricted stock granted under the Transocean  
Offshore Inc. Long-Term Incentive Plan.                                         
(2)  Shares held under the Transocean Offshore Inc. Savings Plan at December    
31, 1997.  The number of shares listed is approximate because Plan              
accounting  is on a unit                                                        
basis.                                                                          
(3)  Grant of 3,600 options under the Long-Term Incentive Plan, one-third of    
which become exercisable on each of the following dates:  1/28/95,              
1/28/96 and                                                                     
1/28/97.                                                                        
(4)  Grant of 7,200 options under the Long-Term Incentive Plan, one-third of    
which become exercisable on each of the following dates:  2/24/96,              
2/24/97 and                                                                     
2/24/98.                                                                        
(5)  Grant of 6,600 options under the Long-Term Incentive Plan, one-third of    
which become exercisable on each of the following dates:  2/23/97,              
2/23/98 and                                                                     
2/23/99.                                                                        
(6)  Grant of 4,400 options under the Long-Term Incentive Plan, one-third of    
which become exercisable on each of the following dates: 3/12/98,               
3/12/99 and                                                                     
3/12/00.                                                                        
SIGNATURE OF REPORTING PERSON                                                   
/s/ Brian C. Voegele by Nicolas J. Evanoff                                      
DATE                                                                            
May 12, 1998                                                                    

Dates Referenced Herein   and   Documents Incorporated By Reference

This 4 Filing		Date		Other Filings
		12/31/97		10-K, 5
For The Period Ended		5/1/98		4
		5/12/98		10-Q, 4
Filed On / Filed As Of		5/13/98
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