FORM 10Q
                                   UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549
(Mark One)

[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES  EXCHANGE ACT OF 1934 For the quarterly period ended
                               September 30, 2000
                                       OR
[ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

For the transition period from                 to
                               ---------------   ----------------

Commission file number:              0-610
                      -------------------------------------------

                               EQUITY OIL COMPANY
                               ------------------
             (Exact name of registrant as specified in its charter)

                   COLORADO                           87-0129795
         ------------------------------- ---------------------------------
        (State or other jurisdiction of         (I.R.S. Employer
         incorporation or organization)         Identification No.)

           Suite 806, #10 West Third South, Salt Lake City, Utah 84101
        ----------------------------------------------------------------
                    (Address of principal executive offices)
                                   (Zip Code)

                                 (801) 521-3515
       -----------------------------------------------------------------
               Registrant's telephone number, including area code

              (Former name, former address and former fiscal year,
                          if changed since last report)

     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
   -----   -----

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                  PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

     Indicate by check mark whether the  registrant  has filed all documents and
reports  required  to be filed by  Sections  12,  13 or 15(d) of the  Securities
Exchange Act of 1934 subsequent to the  distribution of securities  under a plan
confirmed by a court. Yes      No

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares  outstanding of each of the issuer's  classes
of   common   stock,   as   of   the   latest   practicable   date:   12,643,440


<PAGE>



                          ITEM I: Financial Statements

                               EQUITY OIL COMPANY
                            Statements of Operations
              For the Nine Months Ended September 30, 2000 and 1999
                                   (Unaudited)

                                                      2000             1999
                                                   ----------        ---------

REVENUES

     Oil and gas sales ......................     $ 16,818,425     $ 10,422,320
     Interest income ........................          130,887           32,543
     Other ..................................        1,295,153          162,149
                                                  ------------     ------------

                                                    18,244,465       10,617,012

EXPENSES

     Operating costs ........................        5,032,304        4,271,325
     Depreciation, depletion and
       amortization .........................        3,000,000        3,100,000
     Equity loss in
           Symskaya Exploration, Inc. .......          101,890          130,203
     3D seismic .............................          590,769           11,702
     Exploration ............................        1,523,754        1,037,755
     General and administrative .............        1,467,340        1,310,126
     Interest ...............................          885,183          911,636
                                                  ------------     ------------
                                                    12,601,240       10,772,747

         Income (loss) before
           income taxes .....................        5,643,225         (155,735)

     Provision for (benefit from)
           income taxes .....................        2,067,666         (117,513)
                                                  ------------     ------------

NET INCOME (LOSS) ...........................     $  3,575,559      $  ( 38,222)
                                                  ============     ============

Net income (loss) per share

         Basic ..............................     $        .28     $       (.00)
         Diluted ............................     $        .28     $       (.00)

Weighted average shares outstanding

         Basic ..............................       12,643,440       12,643,440
         Diluted ............................       12,932,233       12,643,440



        The accompanying notes are an integral part of these statements.



                                        2

<PAGE>



                               EQUITY OIL COMPANY
                            Statements of Operations
             For the Three Months Ended September 30, 2000 and 1999
                                   (Unaudited)

                                                        2000             1999
                                                    -----------       ----------

REVENUES

     Oil and gas sales .......................      $ 6,027,006      $ 4,303,735
     Interest income .........................           55,236           13,348
     Other ...................................          142,284           90,953
                                                    -----------      -----------

                                                      6,224,526        4,408,036

EXPENSES

     Operating costs .........................        1,747,786        1,615,929
     Depreciation, depletion and
       amortization ..........................        1,000,000        1,050,000
     Equity loss in
           Symskaya Exploration, Inc. ........           18,931           23,997
     3D seismic ..............................           59,976           11,702
     Exploration .............................          734,810          285,251
     General and administrative ..............          495,783          391,720
     Interest ................................          270,616          319,002
                                                    -----------      -----------

                                                      4,327,902        3,697,601

Net income before income taxes ...............        1,896,624          710,435

Provision for income taxes ...................          682,597          287,903
                                                    -----------      -----------

NET INCOME ...................................      $ 1,214,027      $   422,532
                                                    ===========      ===========

Net income per common share:

     Basic ...................................      $      0.10      $      0.03
     Diluted .................................      $      0.09      $      0.03

Weighted average shares outstanding:

     Basic ...................................       12,643,440       12,638,696
     Diluted .................................       12,860,825       12,673,319








        The accompanying notes are an integral part of these statements.




                                        3

<PAGE>




                               EQUITY OIL COMPANY
                                  Balance Sheet
                 as of September 30, 2000 and December 31, 1999
                                   (Unaudited)



                                               September 30,       December 31,
ASSETS                                                  2000               1999
                                               -------------      -------------

Current assets:
  Cash and cash equivalents ..............     $   2,188,734      $   1,006,602
  Accounts and advances receivable .......         3,966,258          3,382,361
  Income taxes receivable ................           160,264            221,199
  Deferred income taxes ..................            19,632             19,632
  Other current assets ...................            85,035            277,595
                                               -------------      -------------
                                                   6,419,923          4,907,389

Property and equipment ...................       105,304,081        103,574,626
Less accumulated depreciation,
 depletion and amortization ..............        65,719,526         62,800,100
                                               -------------      -------------
                                                  39,584,555         40,774,526
Other assets:

  Other assets ...........................           388,769            435,420
                                               -------------      -------------
                                                     388,769            435,420

TOTAL ASSETS .............................     $  46,393,247      $  46,117,335
                                               =============      =============

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable .......................     $   2,039,857      $   1,541,834
  Accrued liabilities ....................           119,895            177,550
  Federal, state and foreign
    income taxes payable .................           158,776            321,981
                                               -------------      -------------
                                                   2,318,528          2,041,365

Revolving credit facility ................         9,500,000         15,000,000
Deferred income taxes ....................         3,587,649          1,667,648
                                               -------------      -------------
                                                  13,087,649         16,667,648
Stockholders' equity:
  Common stock ...........................        12,811,040         12,808,040
  Paid in capital ........................         3,719,932          3,719,743
  Less cost of treasury stock ............          (528,302)          (528,302)
  Retained earnings ......................        14,984,400         11,408,841
                                               -------------      -------------

                                                  30,987,070         27,408,322
TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY ...................     $  46,393,247      $  46,117,335
                                               =============      =============



        The accompanying notes are an integral part of these statements.



                                        4

<PAGE>



                               EQUITY OIL COMPANY
                             Statement of Cash Flows
              For the Nine Months Ended September 30, 2000 and 1999
                                   (Unaudited)

                                              2000          1999
                                          -----------   ----------
CASH FLOWS FROM OPERATING ACTIVITIES:

   Net (loss) .........................   $ 3,575,559    $   (38,222)

   Adjustments:
     Depreciation, depletion and
       amortization ...................     3,000,000      3,100,000
     Loss (gain) on
       property dispositions ..........      (499,965)        29,954
     Equity loss in
           Symskaya Exploration, Inc. .       101,890        130,203
     Change in other assets ...........        72,786         15,224
     Common stock issued for services .          --           19,250
     Change in deferred income taxes ..     1,920,001       (146,428)

   Increase (decrease) from changes in:

     Accounts and advances receivable .      (583,897)      (658,234)
     Other current assets .............       192,560        111,288
     Accounts payable and accrued
       liabilities ....................       440,368     (1,051,941)
     Income taxes receivable/payable ..      (102,269)       213,559
                                          -----------    -----------
   Net cash provided
     by operating activities ..........     8,117,033      1,724,653
                                          -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:

   Proceeds from sale of properties ...       513,298           --
   Advances to Symskaya Exploration ...      (101,890)      (130,203)
   Capital expenditures ...............    (1,823,362)    (1,196,900)
                                          -----------    -----------
   Net cash used in
       investing activities ...........    (1,411,954)    (1,327,103)
                                          -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

   Payment of loan fees ...............       (26,136)      (180,327)
   Stock option proceeds ..............         3,189           --
   Payments on credit facility ........    (5,500,000)          --
                                          -----------    -----------
   Net cash used in financing
      activities ......................    (5,522,947)      (180,327)
                                          -----------    -----------

NET INCREASE (DECREASE) IN CASH .......     1,182,132        217,223

CASH AND CASH EQUIVALENTS
   AT BEGINNING OF PERIOD .............     1,006,602        444,476
                                          -----------    -----------

CASH AND CASH EQUIVALENTS
   AT END OF PERIOD ...................   $ 2,188,734    $   661,699
                                          ===========    ===========





        The accompanying notes are an integral part of these statements.

                                        5

<PAGE>



                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  INTERIM FINANCIAL STATEMENTS

     The accompanying  financial  statements of Equity Oil Company ("Equity " or
"the Company ") have not been audited by independent accountants, except for the
Balance  Sheet  as of  December  31,  1999.  In the  opinion  of  the  Company's
management,  the financial statements reflect the adjustments,  all of which are
of a normal and  recurring  nature,  necessary to present  fairly the  financial
position  of the  Company  as of  September  30,  2000,  and the  results of its
operations  for the three and nine month  periods  ended  September 30, 2000 and
1999, and its cash flows for the nine month periods ended September 30, 2000 and
1999.

     The financial statements and the accompanying notes to financial statements
have been prepared  according to rules and  regulations  of the  Securities  and
Exchange Commission.  Accordingly, certain notes and other information have been
condensed or omitted  from the interim  financial  statements  presented in this
Quarterly  Report on Form 10-Q.  These  financial  statements  should be read in
conjunction  with  the  Company's  1999  Annual  Report  on Form  10-K,  and the
Company's Form 10-Q for the first and second quarters of 2000.

     The results for the three and nine month periods  ended  September 30, 2000
are not necessarily indicative of future results.

NOTE 2.  NET INCOME (LOSS) PER SHARE

     Basic net income  (loss) per share was  computed by dividing the net income
(loss) by the weighted average number of common shares outstanding.  Diluted net
income  (loss) per share was computed by dividing  the net income  (loss) by the
sum of the weighted  average  number of common shares and the effect of dilutive
unexercised stock options.  Dilutive options to purchase  approximately  536,500
shares of common  stock at prices of $1.06 to $1.71 per share  were  outstanding
during the three and nine  month  periods  ending  September  30,  2000 and were
included in the  computation  of diluted net income per share for those periods.
Dilutive options to purchase  approximately  318,500 shares of common stock at a
price of $1.06 per share were  outstanding  during the three month period ending
September 30, 1999,  and were included in the  computation of diluted net income
per share for that period.  Options  outstanding for the nine month period ended
September 30, 1999 were not included in the  computation of diluted net loss per
share because the effect would have been antidilutive.

NOTE 3. RECLASSIFICATIONS

     Certain  balances in the September 30, 1999 financial  statements have been
reclassified to conform to the current year  presentation.  These changes had no
effect on the previously reported net income (loss),  total assets,  liabilities
or stockholders' equity.





                                        6

<PAGE>



                                     PART I

                                     ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATION

RESULTS OF OPERATIONS

FINANCIAL RESULTS

     Higher oil and gas  prices  during  the third  quarter  of 2000  helped the
Company realize its third consecutive  quarter of record net income,  strengthen
its balance  sheet,  and generate  additional  cash to fund its future  drilling
programs.  For the quarter ended September 30, 2000,  Equity recorded net income
of $1,214,027,  or $.10 per basic share,  compared to net income of $422,532, or
$.03 per basic share,  in the third quarter of 1999.  Revenues in the 2000 third
quarter were $ 6,224,526,  up 41% from  revenues of $4,408,036 in the 1999 third
quarter.  Cash flow from  operating  activities  in the third quarter of 2000 of
$3,262,879  was 266% higher than the third  quarter  1999 cash flow of $890,292,
enabling the Company to further reduce its long-term debt by $3.5 million.

     Net income for the first nine  months of 2000 was  $3,575,559,  or $.28 per
basic  share,  compared  to a net loss of  $(38,222),  or $.(00) per basic share
reported in the first nine months of 1999.  Total revenues of  $18,244,465  were
72% higher than total revenues of $10,617,012  recorded in the first nine months
of 1999. Cash flow from operating activities in the first nine months of 2000 of
$8,117,033 was 371% higher than 1999 nine months cash flow of $1,724,653.

OPERATING ACTIVITIES

     A principal focus of the Company's  exploration  efforts continues to be 3D
seismic driven projects in the Sacramento Basin of California.  A new focus area
is the 25 square mile Rancho Colusa prospect in Colusa County,  where Equity has
14,000 acres under lease and recently  completed a 3D seismic survey. The survey
indicates  more than twenty  Forbes  anomalies,  some number of which may evolve
into drillable  prospects.  The survey is just north of the prolific West Grimes
gas field where over 60 BCF of natural gas has been recovered from a six-section
area.

     In order to pursue this opportunity aggressively, while minimizing drilling
risks and recovering land and seismic costs,  the company sold a 45% interest in
the survey and leasehold to an industry partner, entering into a joint operating
agreement naming Equity, which retained 55% of the project, as the operator. The
first well at the prospect,  drilled in October, was a dry hole. The second well
is currently drilling, a third well will spud in mid-November.

     During  the  first  nine  months  of 2000,  the  Company  and its  partners
successfully  completed all three  non-operated  wells drilled in the Sacramento
Basin.  These three wells tested at a combined rate of 5 MMCFD, and are awaiting
pipeline hookup,  which should occur early in the fourth quarter. Two additional
non-operated wells will commence shortly.

                                        7

<PAGE>



     In addition to the activity in the Sacramento  Basin,  the Company is using
its higher cash flows to expand drilling in other focus areas. The Company began
shooting  a 25 square  mile 3D shoot in the Beaver  Creek  area in North  Dakota
during  September,  and is conducting a multi-well  workover  program in the Big
Horn basin in an effort to enhance production from existing properties.

     The  Company's  workover  program in the Big Horn Basin  continues to yield
positive  results.  Through  September 30, the Company has increased its net oil
production by 50 barrels of oil per day.

     The Company also participated in two successful low-cost  development wells
at its Cessford prospect in western Canada,  with an initial combined production
rate of  approximately  30 net  barrels  of oil per day.  The  Company  recently
committed to four additional wells to be drilled before year-end 2000.

     The  Company  continues  to conduct  operations  with  respect to  Symskaya
Exploration  in a  maintenance  mode.  Drilling  operations  have resumed at the
Averinskaya - 150 well, an exploratory  well that is being drilled near the town
of Yeniseysk in Eastern Siberia by the regional geological  committee.  The well
is adjacent to the southern  block of acreage that Symskaya holds as part of its
1.1 million acre exploration,  development and production  license.  The well is
being drilled to evaluate the oil and gas potential of the same geologic section
that  Symskaya  targeted in the drilling of its Lemok No. 1 well on the northern
acreage block of its License area. The well has reached its total depth of 4,750
meters, and is currently being logged and tested.

CAPITAL RESOURCES AND LIQUIDITY

     Cash and cash equivalents  totaled  $2,188,734 as of September 30, 2000, an
increase of 117% since  year-end  1999.  Working  capital at September  30, 2000
improved  to  $4,101,395,  compared to  $2,866,024  at December  31,  1999.  The
Company's ratio of current assets to current  liabilities  improved to 2.77 to 1
at September 30, 2000, compared to 2.40 to 1 at December 31, 1999.

     These  improvements  in cash balances and working  capital come despite the
fact that the Company has reduced its  outstanding  debt by $5.5 million  during
2000 to $9.5 million at September  30, 2000.  Higher cash flows have enabled the
Company to  aggressively  manage its balance  sheet.  Cash provided by operating
activities  before  working  capital  changes  increased  by almost  375%,  from
$1,724,653  in the first nine months of 1999 to $8,172,033  recorded  during the
same period of 2000.

     The  Company's  commitment  under  its  credit  facility  is  subject  to a
redetermination  as of May 1 and November 1 of each year, with estimated  future
oil and gas prices used in the  evaluation  determined by the Company's  lender.
The  Company's  current  commitment  under its credit  facility is $17  million.
Accordingly,  as of  September  30,  2000,  the  Company  had  $7.5  million  of
availability  on the  facility.  The  Company is in  compliance  with all of its
facility covenants.




                                        8

<PAGE>



     Investment  in  property  and  equipment  for the first nine months of 2000
totaled  $1,823,362,  a  52%  increase  from  the  amount  recorded  during  the
corresponding nine months of 1999. Higher cash flows have enabled the Company to
increase the size of its 2000 drilling and workover programs.

     The Company believes that existing cash balances,  cash flow from operating
activities, and funds available under the Company's credit facility will provide
adequate resources to meet its capital and exploration  spending  objectives for
2000.

COMPARISON OF THIRD QUARTER 2000 WITH THIRD QUARTER 1999

     Higher oil and gas prices, coupled with increased oil production,  resulted
in a 40% increase in oil and gas sales for the third  quarter of 2000.  Revenues
were also increased by higher interest and overhead  income.  Total revenues for
the period were  $6,224,526,  compared to  $4,408,036  during the same period of
1999.

     Revenues  were  reduced by $426,076  in the third  quarter of 2000 by costs
associated with the Company's hedging program, which was instituted in 1999 as a
requirement  of its bank financing  program.  The Company had 400 barrels of oil
per day hedged under a costless collar,  with a floor of $18.00 and a ceiling of
$25.30, which terminated on September 30, 2000; the Company has no current plans
to replace this hedge.  The Company has an additional 500 barrels of oil per day
hedged under a second costless  collar,  with a floor of $18.00 and a ceiling of
$27.22.  This collar terminates on December 31, 2000. The floor and ceilings are
based on the average  near month WTI price on the New York  Mercantile  Exchange
(NYMEX).

     After taking into consideration the hedging costs discussed above,  average
oil prices  received in the third  quarter  were $28.34 per barrel,  up 49% from
$19.04 per barrel in the third quarter of 1999. Gas prices were also up sharply,
averaging  $3.84 per Mcf in the third  quarter of 2000 compared to $2.29 per Mcf
in 1999.  Oil  production  increased 2% to 165,000  barrels in 2000  compared to
162,000  barrels  during the same  period of 1999.  Gas  production  in the 2000
quarter  decreased  to 370,000 Mcf  compared  to 530,000  Mcf in the  comparable
period  last  year.  The  reduction  in gas  production  was  due in part to the
Company's reduced drilling program in California  during 1999. In addition,  due
to some unexpected lengthy repair work on a 14 mile section of a PG&E main line,
the Company had  approximately  1 MMCFD shut-in for most of the third quarter of
2000. This production should recommence shortly.

     Total expenses in 2000 increased 17% over 1999 third quarter levels, caused
by higher operating,  exploration,  and overhead costs.  Operating costs rose 8%
from 1999 levels,  primarily as a result of higher value-based  production taxes
resulting from hgher oil and gas prices.

     Higher dry holes costs  associated  with the  Company's  expanded  drilling
program  in  2000  drove  the  increase  in  exploration   costs.   General  and
administrative  expenses  increased  27% from 1999 third  quarter  levels due to
higher compensation,  shareholder, and employee relocation costs associated with
opening the Cody, Wyoming office.

     Lower interest  costs in 2000 reflect the lower amount of debt  outstanding
under the Company's credit facility.

                                        9

<PAGE>


COMPARISON OF FIRST NINE MONTHS OF 2000 WITH FIRST NINE MONTHS OF 1999

     Higher oil production,  combined with sharply higher oil prices, produced a
61%  increase  in oil and gas  sales for the first  nine  months of 2000.  Total
revenues for the period were  $18,244,465,  compared to  $10,617,012  during the
first nine months of 1999.

     Average  oil prices  received  by the  Company in the first nine  months of
2000,  net of hedging  costs of  $835,562,  were $26.10 per barrel,  compared to
$15.36 per barrel  during the same period of 1999.  Average gas prices  received
during the first nine months of 2000 were $3.07 per Mcf, which compared to $2.00
per Mcf during the same  period of 1999.  Through the first nine months of 2000,
oil  production  of  505,000  barrels  was up from 1999  production  of  480,000
barrels.  Natural  gas  production  decreased  from  1,550,000  Mcf in  1999  to
1,200,000 Mcf in 2000 for reasons discussed previously.

     Included in the 2000 nine month  revenues  is  $505,000  in non-  recurring
property  sales  recognized  in the first  quarter  of the year.  Revenues  also
include approximately  $300,000 in overhead income associated with the Company's
newly operated  properties in the Big Horn Basin.  This level of overhead income
should  continue  to be  recognized  on  an  ongoing  basis.  The  Company  also
recognized gains on the sale of securities and revenue from property promotions.

     Higher revenues were offset by higher operating costs, 3D seismic expenses,
exploration costs, and administrative costs.  Operating costs rose 18% from 1999
levels, as the Company returned its higher-cost,  lower-margin oil properties to
full production.  In addition,  higher oil prices resulted in higher value-based
production taxes.

     Expenses in the first nine months of 2000 include costs associated with two
new  Company  operated  3D  seismic  surveys,  one in the  Sacramento  Basin  of
California  and one in North Dakota.  The Company did not  participate in any 3D
seismic programs of significance during the first nine months of 1999.

     Exploration costs rose as the Company's increased drilling program produced
higher dry hole  costs.  Through  the first  nine  months of 2000,  the  Company
incurred  $455,000 in dry hole costs  compared to $175,000  incurred  during the
same period of 1999.

     General and  administrative  expenses  increased 12% from 1999 levels.  The
increase was due to higher compensation,  employee  relocation,  and shareholder
expenses.  During the low oil price environment of early 1999, the Company froze
salaries,  reduced employee benefits, and made other compensation reductions. As
oil prices  have  increased,  the Company has  restored  some of these  previous
reductions.  In addition, the Company recorded overhead expenses associated with
its new Cody, Wyoming office of approximately  $120,000,  an amount which should
continue to be recognized on an ongoing basis.

     Lower interest  costs in 2000 reflect the lower amount of debt  outstanding
under the Company's credit facility.

                                       10

<PAGE>




OTHER ITEMS

     The  Company  has  reviewed  all  recently  issued,  but not  yet  adopted,
accounting standards in order to determine their effects, if any, on the results
of operations or financial  position of the Company.  Based on that review,  the
Company  believes  that none of these  pronouncements  will  have a  significant
effect on current or future earnings or operations.


FORWARD LOOKING STATEMENTS

     The preceding  discussion and analysis  should be read in conjunction  with
the consolidated financial statements, including the notes thereto, appearing in
the Company's annual report on Form 10-K. Except for the historical  information
contained herein,  the matters discussed in this report contain  forward-looking
statements  within the meaning of Section 27a of the  Securities Act of 1933, as
amended,  and Section 2le of the  Securities  Exchange Act of 1934,  as amended,
that are based on management's  beliefs and assumptions,  current  expectations,
estimates, and projections.  Statements that are not historical facts, including
without limitation  statements which are preceded by, followed by or include the
words "believes,"  "anticipates," "plans," "expects," "may," "should" or similar
expressions  are  forward-looking  statements.  Many of the  factors  that  will
determine the Company's  future results are beyond the ability of the Company to
control or predict. These statements are subject to risks and uncertainties and,
therefore,  actual  results may differ  materially.  The Company  disclaims  any
obligation to update any  forward-looking  statements whether as a result of new
information, future events or otherwise.

     Important  factors  that may effect  future  results  include,  but are not
limited to: the risk of a  significant  natural  disaster,  the inability of the
Company to insure  against  certain  risks,  fluctuations  in commodity  prices,
drilling  results,  the inherent  limitations in the ability to estimate oil and
gas  reserves,  changing  government  regulations,  as  well as  general  market
conditions,  competition and pricing, and other risks detailed from time to time
in the  Company's SEC reports,  copies of which are available  upon request from
the Company's investor relations department.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

     The answers to items listed under Item 3 are inapplicable or negative.




                                       11

<PAGE>



                                     PART II

                                OTHER INFORMATION

     The answers to items listed under Part II are inapplicable or negative.


                                   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.

                                        EQUITY OIL COMPANY
                                           (Registrant)



DATE:      October 19, 2000            By /s/ Paul M. Dougan
       -----------------------           ---------------------
                                         Paul M. Dougan
                                         President


DATE:      October 19, 2000            By /s/ Clay Newton
       -----------------------           ---------------------
                                         Clay Newton
                                         Chief Financial Officer

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