UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    Form 10-Q

MARK ONE
      [X]         QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

                  For the Quarterly Period Ended March 31, 1998

      [ ]         TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE 
                  SECURITIES EXCHANGE ACT OF 1934

                         Commission File Number 0-11313


                         MAY DRILLING PARTNERSHIP 1983-2
                         MAY LIMITED PARTNERSHIP 1983-2
             (Exact name of registrant as specified in its charter)


                                                                      75-1915688
               Texas                                                  75-1915682
    (State or other jurisdiction of                             (I.R.S. Employer
    incorporation or organization)                        Identification Number)

    4582 South Ulster Street Parkway
               Suite 1700
            Denver, Colorado                                               80237
    (Address of principal executive offices)                          (Zip Code)

       Registrant's telephone number, including area code: (303) 850-7373

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 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 [ ]











                                   Page 1 of 9


<PAGE>
<TABLE>
<CAPTION>


                         MAY DRILLING PARTNERSHIP 1983-2
                                 BALANCE SHEETS
                                   (Unaudited)
                                 (In thousands)



                                                                               March 31,                December 31,
                                                                                  1998                      1997

ASSETS
<S>                                                                              <C>                       <C>  
Investment in May Limited Partnership 1983-2                                     $ 366                     $ 407
                                                                                  ====                      ====


PARTNERS' CAPITAL
Partners' Capital                                                                $ 366                     $ 407
                                                                                  ====                      ====





<FN>

NOTE:      The  statements  of  operations  and  cash  flows  for  May  Drilling
           Partnership  1983-2 are not  presented  because such  information  is
           equal to the limited partner's share of such activity as presented in
           the May Limited  Partnership  1983-2  financial  statements.  The May
           Drilling   Partnership   carries  its   investment   in  May  Limited
           Partnership 1983-2 on the equity method. The May Limited  Partnership
           1983-2 financial  statements should be read in conjunction with these
           balance sheets.
</FN>

























<FN>

           The accompanying note is an integral part of the financial
                                  statements.
</FN>
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

                         MAY LIMITED PARTNERSHIP 1983-2
                                 BALANCE SHEETS
                                   (Unaudited)
                                 (In thousands)



                                                                     March 31,              December 31,
                                                                        1998                    1997

ASSETS
CURRENT ASSETS
<S>                                                                    <C>                     <C>    
    Cash and cash equivalents                                          $   206                 $   217
    Accrued oil and gas sales                                              119                     140
    Due from affiliate                                                      50                      67
                                                                       -------                 -------
         Total                                                             375                     424
                                                                        ------                  ------

OIL AND GAS PROPERTIES, using the
    full cost method of accounting                                      16,658                  16,652
       Less accumulated depletion                                      (16,187)                 (16,162)
                                                                        ------                   ------
         Net oil and gas properties                                        471                     490
                                                                        ------                  ------

TOTAL ASSETS                                                           $   846                 $   914
                                                                        ======                  ======

LIABILITIES AND PARTNERS' CAPITAL
CURRENT LIABILITIES
    Accounts payable and accrued liabilities                           $     15               $     24
                                                                        -------                -------

PARTNERS' CAPITAL
    General partner                                                         465                    483
    Limited partner                                                         366                    407
                                                                         ------                 ------
         Total                                                              831                    890
                                                                         ------                 ------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                 $   846                $   914
                                                                         ======                 ======




















<FN>

           The accompanying note is an integral part of the financial
                                  statements.
</FN>
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

                         MAY LIMITED PARTNERSHIP 1983-2
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
                   (In thousands, except for unit information)



                                                                      For the Three Months Ended March 31,
                                                                        1998                      1997

REVENUES
<S>                                                                  <C>                        <C>     
    Oil revenue                                                      $     18                   $     24
    Gas revenue                                                           179                        200
    Interest                                                                3                          2
                                                                    ---------                  ---------
         Total                                                            200                        226
                                                                      -------                    -------

COSTS AND EXPENSES
   Lease operating                                                         25                         21
   General and administrative                                              20                         21
   Depletion                                                               25                         20
   Professional services and other                                          5                          5
                                                                    ---------                 ----------
         Total                                                             75                         67
                                                                     --------                  ---------

NET INCOME                                                           $    125                   $    159
                                                                      =======                    =======

ALLOCATION OF NET INCOME:

    General Partner                                                 $      59                  $      74
                                                                     ========                   ========

    Limited Partner                                                 $      66                  $      85
                                                                     ========                   ========

       Per initial $1,000 limited partner
         investment                                                  $   6.25                   $   8.05
                                                                      =======                    =======

       Weighted average initial $1,000 limited
         partner investment units outstanding                          10,557                     10,557
                                                                       ======                     ======


















<FN>

           The accompanying note is an integral part of the financial
                                  statements.
</FN>
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

                         MAY LIMITED PARTNERSHIP 1983-2
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (In thousands)



                                                                      For the Three Months Ended March 31,
                                                                         1998                      1997

OPERATING ACTIVITIES:
<S>                                                                     <C>                       <C>   
    Net income                                                          $  125                    $  159
    Adjustment to reconcile net income to
       net cash provided by operating activities:
          Depletion                                                         25                        20

Changes in assets and liabilities provided (used) cash:
      Accrued oil and gas sales                                             21                        55
      Due from affiliate                                                    17                       (89)
      Accounts payable and accrued liabilities                              (9)                       (7)
      Due to affiliate                                                                                (5)
                                                                      --------                   -------
              Net cash provided by operating activities                    179                       133
                                                                         -----                     -----

INVESTING ACTIVITIES -
      Additions to oil and gas properties                                   (6)                      (20)
                                                                       -------                    ------

FINANCING ACTIVITIES -
      Distributions to partners                                           (184)

NET INCREASE (DECREASE) IN CASH AND
    CASH EQUIVALENTS                                                       (11)                      113

CASH AND CASH EQUIVALENTS:
       Balance, beginning of period                                        217                       157
                                                                         -----                     -----

       Balance, end of period                                           $  206                    $  270
                                                                         =====                     =====


















<FN>

           The accompanying note is an integral part of the financial
                                  statements.
</FN>
</TABLE>


<PAGE>


                         MAY LIMITED PARTNERSHIP 1983-2
                          NOTE TO FINANCIAL STATEMENTS
                                   (Unaudited)



NOTE 1    -   GENERAL

The financial  statements  presented are those of May Limited Partnership 1983-2
(the "Partnership").  The interim financial data are unaudited;  however, in the
opinion of the general  partner,  the  interim  data  include  all  adjustments,
consisting  only  of  normal  recurring   adjustments,   necessary  for  a  fair
presentation of the results for the interim periods.  These financial statements
should be read in  conjunction  with the financial  statements and notes thereto
included in the Partnership's December 31, 1997 Annual Report on Form 10-K.


ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATION
             

Liquidity and Capital Resources

The Partnership generated $179,000 of cash flow from operating activities during
the three months ended March 31, 1998 and  distributed  $184,000 to partners.  A
distribution  payable to partners of record as of March 31, 1998 was declared in
April 1998. The distribution  amount is $158,000 payable $91,640 to May Drilling
Partnership  1983-2  partners  and  $66,360  to  the  general  partner.   Future
distributions  are dependent on future prices for the  Partnership's  production
and the production level of the Partnership's remaining oil and gas reserves.

Results of Operations

First Quarter 1998 Compared to First Quarter 1997

Oil Revenue

Oil  revenue  decreased  $6,000 in the first  quarter of 1998 as compared to the
first quarter of 1997 as a result of a decrease in price partially  offset by an
increase in oil  production.  The average  oil price  decreased  from $22.64 per
barrel in 1997 to $16.11 per barrel in 1998. Oil production  increased 5% due to
workover procedures performed during the second quarter of 1997.

Gas Revenue

Gas revenue  decreased  $21,000  during the first quarter of 1998 as compared to
the first  quarter of 1997 as the result of a  decrease  in gas price  partially
offset by an increase in production.  The average gas price decreased from $3.15
per mcf in 1997 to $2.35 per mcf in 1998.  Gas  production  increased 20% due to
workover procedures performed during the second quarter of 1997.

Interest Income

Interest income increased $1,000 during the first quarter of 1998 as compared to
the first quarter of 1997 due to a higher average cash balance during 1998.

Lease Operating

Lease  operating  expense  increased  $4,000  for the first  quarter  of 1998 as
compared to the first quarter of 1997 primarily due to an increase in production
taxes caused by the increase in production discussed above.


<PAGE>


General and Administrative

General and administrative  expense decreased $1,000 during the first quarter of
1998  as  compared  to the  first  quarter  of  1997  due to a  decrease  in the
allocation of overhead from the general partner.

Depletion

Depletion  expense increased $5,000 during the first quarter of 1998 as compared
with the first quarter of 1997 as a result of a higher depletion rate due to the
increase in production discussed above.



<PAGE>


PART II -    OTHER INFORMATION


ITEM 1 -     LEGAL PROCEEDINGS

             Reference  is made to Item 8 - Note 4 of  Form  10-K  for the  year
             ended December 31, 1997.


ITEM 2 -     CHANGES IN SECURITIES

             None.


ITEM 3 -     DEFAULTS UPON SENIOR SECURITIES

             None.


ITEM 4 -     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
             

             None.


ITEM 5 -     OTHER INFORMATION

             None.


ITEM 6 -     EXHIBITS AND REPORTS ON FORM 8-K

             None.



<PAGE>


SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Partnerships  have duly caused  this report to be signed on their  behalf by the
undersigned, thereunto duly authorized.


                                          MAY DRILLING PARTNERSHIP 1983-2
                                          MAY LIMITED PARTNERSHIP 1983-2

                                          By:  EDP OPERATING, LTD.,
                                               General Partner

                                               By:  HEPGP Ltd.,
                                                    General Partner

                                               By:  HALLWOOD G.P., INC.,
                                                    General Partner



Date:   May 1, 1998                            By:   /s/Thomas J. Jung
                                                  Thomas J. Jung, Vice President
                                                  (Principal Accounting Officer)