FORM 4

___  Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
(Print or Type Responses)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1.   Name and Address of Reporting Person*

Seitel, Inc             SEI

(Last)     (First)     (Middle)
Hoffman, Russell J.

3.   I.R.S. Identification Number of Reporting Person, if an entity (voluntary)

December 2000

(Street)

50 Briar Hollow Lane, 7^th Floor West
Houston, Texas 77027

___Form filed by More than One Reporting Person

(City)     (State)     (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)

2.   Transaction Date


(Month/Day/
Year)

3.   Transaction Code
(Instr. 8)

4.   Securities Acquired (A)
or Disposed of (D)
(Instr. 3, 4 and 5)

5.   Amount of Securities Beneficially Owned at End of Month

(Instr. 3 and 4)

6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)

7.   Nature of Indirect Beneficial Ownership

(Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Stock, par value $.01

12/22/00

M

25,000

A

$11.57434

Common Stock, par value $.01

12/22/00

S

4,100

D

$16.75000

Common Stock, par value $.01

12/22/00

S

34,000

D

$16.87500

Common Stock, par value $.01

12/22/00

S

11,900

D

$16.81250

-0-

D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

2.  Conversion or Exercise Price of Derivative Security

3.   Transaction
Date
(Month/Day/
Year)

4.  Transaction Code
(Instr. 8)

5.   Number of Derivative Securities
Acquired (A)
or Disposed of (D)
(Instr. 3, 4 and 5)

6.   Date Exerciseable and Expiration Date
(Month/Day/Year)

7.   Title and Amount of Underlying Securities
(Instr. 3 and 4)

8.   Price of Derivative Security
(Instr. 5)

9.   Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)

10.   Ownership Form of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)

11.   Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Options-Right to Buy

$11.37500

07/26/00

A

V

20,000

(1)

07/26/10

Common Stock

20,000

20,000

D

Warrants-Right to Buy

$11.57434

12/22/00

M

25,000

10/02/98

10/02/03

Common Stock

25,000

-0-

D

Warrants-Right to Buy

$16.75000

12/22/00

A

V

4,100

12/22/00

10/02/03

Common Stock

4,100

4,100

D

Warrants-Right to Buy

$16.87500

12/22/00

A

V

20,900

12/22/00

10/02/03

Common Stock

20,900

20,900

D

Explanation of Responses:

(1)

Options are exercisable as follows: 33% on first anniversary; 66% on second anniversary; and 100% on third anniversary.

/s/ Russell J. Hoffman
by Marcia H. Kendrick
**Signature of Reporting Person

01/10/01
Date

Reminder:

Report on a separate line for each class of securities beneficially owned directly or indirectly.

*

If the form is filed by more than one reporting person, see Instruction 4(b)(v).

**

Intentional misstatements or omissions of facts constitute Federal Criminal Violations
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:

File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure