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

                                    Form 10-K

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

                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 1995

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

                         COMMISSION FILE NUMBER 0-11311
                                                    
                             -----------------------

                         MAY DRILLING PARTNERSHIP 1983-1
                         MAY LIMITED PARTNERSHIP 1983-1
             (Exact name of registrant as specified in its charter)
                                                    
                            ------------------------


                                               75-1896224       
      TEXAS                                    75-1896223       
 (State or other jurisdiction               (I.R.S. Employer    
 of incorporation or                      Identification Number)
 organization)
   4582 SOUTH ULSTER STREET     
   PARKWAY, SUITE 1700
   DENVER, COLORADO                                80237        
 (Address of principal                           (Zip Code)     
 executive offices)

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

           SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:


                                           Name of each exchange
 Title of each class                       on which registered  
 -------------------                       --------------------
      NONE                                         NONE          

           SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:

                     Units of Participation, $1,000 Per Unit
                                (Title of Class)

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  ___ 

Indicate by check  mark if disclosure of delinquent filers  pursuant to Item 405
of Regulation S-K is not contained herein and will not be contained, to the best
of  registrant's  knowledge,  in  definitive  proxy  or  information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.  X<PAGE>
                      DOCUMENTS INCORPORATED BY REFERENCE:


                                           PART OF FORM
                                           10-K INTO
                                           WHICH IT IS
 DOCUMENT                                  INCORPORATED
 --------                                  --------------
 The General Partnership
 Agreement and the Limited
 Partnership Agreement filed as            Part IV
 an Exhibit to Registration
 Statement No. 0-11311


                                     PART I
                                    --------


ITEM 1 - BUSINESS

May  Drilling Partnership 1983-1 (the "Drilling or General Partnership") and May
Limited Partnership  1983-1 (the  "Limited Partnership")  were organized  by May
Petroleum  Inc.   ("May")  to  explore  for and  develop  oil  and gas  reserves
primarily in  Texas, Oklahoma and Louisiana.   Funds received from  the sale and
production of  oil and  gas reserves  are used  to pay  the  obligations of  the
Limited  Partnership.  Funds not required by  the Limited Partnership as working
capital are distributed to the participants  in the Drilling Partnership and the
general partner. 

The general partner of the Limited Partnership is EDP Operating,  Ltd., which is
one of the operating partnerships for  Hallwood Energy Partners, L. P.  ("HEP").
The Drilling Partnership is the sole limited partner of the Limited Partnership.
The Limited  Partnership does not have  any subsidiaries, nor does  it engage in
any other  kind of business.   The Limited  Partnership has no employees  and is
operated by  Hallwood Petroleum, Inc. ("HPI"), a subsidiary of HEP.  In February
1996, HPI employed 133 full-time employees. 

Pursuant  to the  terms of  the general  partnership agreement  and the  limited
partnership  agreement, HEP  is  obligated, from  time  to time,  to  contribute
certain  amounts, in  property, cash  or unreimbursed  services, to  the Limited
Partnership.   As of December 31, 1995, all such required contributions had been
made.

PARTICIPATION IN EXPENSES AND REVENUES 

The principal expenses and revenues of the Limited Partnership are shared by the
general  partner and  the Drilling  Partnership as  set  forth in  the following
table.  The charges and credits to participants in the  Drilling Partnership are
shared  among the  participants in  proportion to  their ownership  of units  of
participation.

<TABLE>
<CAPTION>


                                 Drilling     General
                               Partnership    Partner
                               -----------    -------
 <S>                               <C>          <C> 
 Abandonment expenses (1)          99%           1%
 Noncapital expenses               99%           1%
 Direct expenses                   99%           1%
 Lease acquisition expenses         -           100%
 Capital expenses                   -           100%
 Oil and gas revenues              (2)          (2)
 Operating expenses                (2)          (2)
 Special projects                  (2)          (2)
 General and administrative        (2)          (2)
 overhead
<F1>
    
     (1)  Includes  expenses  that would  otherwise be  allocated  as lease
          acquisition expenses and/or capital  expenses but that relate  to
          abandoned properties.
<F2>
     (2)  Such items were shared 70% by the Drilling Partnership and 30% by
          the general partner until December 31, 1984.   As of December 31,
          1984, and as of December 31 of each year thereafter,  the sharing
          of such  items is  adjusted so  the general  partner's allocation
          equals  the  percentage that  the amount  of  Limited Partnership
          expenses allocated to the general partner bears to  the aggregate
          amount of Limited Partnership  expenses allocated to the  general
          partner and  the Drilling Partnership, plus 15 percentage points,
          but in no event will the general partner's allocation exceed 50%.
          The sharing ratio for each of the last three years was:

<CAPTION>
                       1995      1994      1993 
 <S>                   <C>       <C>       <C>  

 Limited Partner       57.9%     58.1%     58.6%
 General Partner       42.1%     41.9%     41.4%
</TABLE>

In 1996, the sharing ratio will be 57.7% to the limited partner and 42.3% to the
general partner.

To  the  extent  that  the  characterization  of  any  expense  of  the  Limited
Partnership depends  on its deductibility  for federal income tax  purposes, the
proper characterization is  determined by the general partner  (according to its
intended  characterization  on the  Limited  Partnership's  federal  income  tax
return) in  good faith at  the time the  expense is to  be charged  or credited.
Such characterization will  control related charges and credits  to the partners
regardless of any subsequent determination by the  Internal Revenue Service or a
court of  law that the  reported expenses should be  otherwise characterized for
tax purposes.

COMPETITION 

Oil  and gas must  compete with  coal, atomic  energy, hydro-electric  power and
other  forms of energy.   See  also "Marketing" for  a discussion of  the market
structure for oil and gas sales. 

REGULATION 

Production and sale of oil and gas is  subject to federal and state governmental
regulations in a variety of ways including environmental regulations, labor law,
interstate  sales, excise  taxes and  federal,  state and  Indian lands  royalty
payments.    Failure  to comply  with  these  regulations may  result  in fines,
cancellation of  licenses to do business  and cancellation of federal,  state or
Indian leases.

The  production of oil and gas is  subject to regulation by the state regulatory
agencies in the states  in which the Limited  Partnership does business.   These
agencies make and  enforce regulations to  prevent waste of  oil and gas  and to
protect the  rights of owners  to produce oil and  gas from a  common reservoir.
The regulatory agencies regulate the amount of oil and gas produced by assigning
allowable production rates to wells capable of producing oil and gas.

FEDERAL INCOME TAX CONSIDERATIONS 

The Limited Partnership and the GeneralPartnership are partnerships for federal
income tax purposes.   Consequently, they are not  taxable entities; rather, all
income, gains,  losses, deductions and credits are passed through and taken into
account  by the  partners on their  individual federal  income tax  returns.  In
general, distributions are  not subject to tax so long  as such distributions do
not exceed the partner's adjusted tax basis.  Any distributions in excess of the
partner's adjusted tax basis are taxed generally as capital gains.

MARKETING 

The oil  and gas produced from  the properties owned by  the Limited Partnership
has typically  been marketed through normal channels for such products.  Oil has
generally been  sold  to purchasers  at  field prices  posted  by the  principal
purchasers of crude oil in the areas where the producing properties are located.
The  majority of the  Limited Partnership's gas  production is sold  on the spot
market and is transported in intrastate and interstate pipelines.   Both oil and
natural gas are purchased  by refineries, major oil companies,  public utilities
and other users and processors of petroleum products.  

Factors  which,  if they  were  to  occur, might  adversely  affect the  Limited
Partnership  include decreases  in oil  and gas  prices, the  availability of  a
market  for production,  rising  operational costs  of  producing oil  and  gas,
compliance with  and changes in  environmental control  statutes and  increasing
costs and difficulties of transportation.  

SIGNIFICANT CUSTOMER 

For the years ended December 31, 1995, 1994 and 1993, purchases by the following
company  exceeded  10%  of  the  total  oil and  gas  revenues  of  the  Limited
Partnership:

<TABLE>
<CAPTION>
                       1995      1994      1993 
 <S>                    <C>       <C>       <C>
 Conoco Inc.            91%       64%       77%
</TABLE>

Although the Limited  Partnership sells  the majority of  its production to  one
purchaser, there are numerous other  purchasers in the area, so the  loss of its
significant  customer  would  not  adversely  affect  the Limited  Partnership's
operations.

ENVIRONMENTAL CONSIDERATIONS

The exploration for,  and development of,  oil and  gas involve the  extraction,
production and  transportation of materials which, under certain conditions, can
be  hazardous or can  cause environmental pollution  problems.  In  light of the
present general interest in  environmental problems, the general  partner cannot
predict what  effect possible future  public or private  action may have  on the
business of the Limited Partnership.   The general partner is continually taking
all  action necessary  in its  operations to  ensure conformity  with applicable
federal,  state  and local  environmental  regulations  and does  not  presently
anticipate that  the  compliance with  federal,  state and  local  environmental
regulations  will  have a  material  adverse effect  upon  capital expenditures,
earnings or the  competitive position of the Limited Partnership  in the oil and
gas industry.

INSURANCE COVERAGE 

The Limited Partnership is  subject to all the risks inherent in the exploration
for,  and development  of,  oil and  gas, including  blowouts,  fires and  other
casualties.    The  Limited  Partnership  maintains  insurance  coverage  as  is
customary for entities of  a similar size engaged  in operations similar to  the
Limited Partnership's, but losses can occur from uninsurable risks or in amounts
in excess of existing insurance coverage.   The occurrence of an event which  is
not insured or not fully  insured could have an adverse impact  upon the Limited
Partnership's earnings and financial position.


ITEM 2 - PROPERTIES

The Limited Partnership's oil and gas reserves are located in prospects in south
Louisiana.   The Limited  Partnership's reserves are  predominantly natural gas,
which  accounts for  86%  of  estimated future  gross  revenues  in the  Limited
Partnership's reserve report as of December 31, 1995.

SIGNIFICANT PROSPECTS 

At December 31, 1995, the following prospects accounted for approximately 96% of
the Limited Partnership's proved oil and  gas reserves.  Reserve quantities were
obtained from the December 31,  1995 reserve report prepared by HPI's  petroleum
engineers.


BOUDREAUX  PROSPECT.   The Boudreaux  prospect is  located in  Lafayette Parish,
Louisiana.  The Limited Partnership's interest in the prospect has remaining net
proved reserves of 12,000 bbls of oil and 574,000 mcf of gas as of  December 31,
1995,  all of  which are  developed and  producing  at December  31, 1995.   The
Limited Partnership's working interest in this prospect ranges up to 1.2%.  

MEAUX PROSPECT.   The Meaux prospect is located in  Lafayette Parish, Louisiana.
The  Limited Partnership's  interest in  the prospect  has remaining  net proved
reserves of 300 bbls  of oil and 33,000 mcf of gas as  of December 31, 1995, all
of  which  are developed  and  producing  at December  31,  1995.   The  Limited
Partnership's working interest is 8.5%.


ITEM 3 - LEGAL PROCEEDINGS

For a description of legal proceedings affecting the Limited Partnership, please
refer to Item 8 - Note 3.


ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF STOCKHOLDERS

No matter was  submitted to a vote of participants during  the fourth quarter of
1995.


                                     PART II
                                     -------


ITEM 5 -  MARKET  FOR THE  REGISTRANT'S  COMMON EQUITY  AND RELATED  STOCKHOLDER
          MATTERS

     a)   The  registrant's  securities  consist of  partnership  interests
          which are not traded on any exchange and for which no established
          public trading market exists.

     b)   As  of December 31, 1995, there were approximately 369 holders of
          record of partnership interests in the Drilling Partnership.

     c)   Distributions paid by the Limited Partnership were as follows (in
          thousands):

<TABLE>
<CAPTION>
            General   Limited
            Partner   Partner
   <S>      <C>      <C>     
   1995    $ 18     $   -
   1994      72       101
   1993      61        89
</TABLE>


ITEM 6 - SELECTED FINANCIAL DATA

<TABLE>
<CAPTION>
                             For the Limited Partnership
                        As of or for the Year Ended December 31, 
                                            
                      1995     1994      1993     1992     1991 

                                   (In thousands)
 <S>               <C>         <C>       <C>      <C>      <C>
 Total revenues    $  227   $  233    $  423   $  509   $  416
 Oil and gas          222      227       419      507      414
 revenues
 Net income            37       27        49      173       35
 Working capital      155      103       206      259      (44)
 (deficit)
 Total assets         440      425       676      675      905
 Partners'            420      401       547      648      719
 capital
</TABLE>

ITEM 7 -  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          RESULTS  OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES 

Material changes in the  Limited Partnership's cash position for the years ended
December 31, 1995 and 1994 are summarized as follows:

<TABLE>
<CAPTION>
                                  1995       1994 
                                  (In thousands)
 <S>                             <C>      <C>   
 Cash provided by operating      $ 53     $  126
 activities
 Distributions to partners        (18)      (173)
 Additions to oil and gas         (16)        (6)
 properties
 Proceeds from sale of oil
      and gas properties                       7
                                -----     ------

 Increase (decrease) in cash   $   19     $  (46)
                               ======     ======

</TABLE>

Cash provided by operating  activities in 1995 was used for distributions to the
general  partners  and  additions  to  oil  and  gas  properties.   The  Limited
Partnership has net working capital of $155,000.  This working capital, together
with future net cash flows generated from operations, may be used to fund future
distributions.  Future distributions depend on, among other things, continuation
of  current or  higher oil  and gas  prices, markets  for production  and future
development  costs, and the outcome of the  litigation described in Item 8, Note
3.

The Limited  Partnership's ability to generate funds adequate to meet its future
needs  will be  largely dependent upon  its ability  to continue  to develop its
existing  reserves.    Proved  reserves  and  discounted  future   net  revenues
(discounted at 10% and  before general and administrative expenses)  from proved
reserves  were estimated at 12,000 bbls and  632,000 mcf valued at $1,086,000 in
1995  and 13,000 bbls and 637,000 mcf valued  at $969,000 in 1994.  The increase
in discounted future net revenues and the fluctuation in the quantities resulted
primarily from an increase in year end oil and  gas prices as well as changes in
the estimated rates of production on certain wells.

During  1995,  the  Financial Accounting  Standards  Board  issued Statement  of
Financial Accounting Standards No.  121 "Accounting for the Impairment  of Long-
Lived Assets and for  Long-Lived Assets to be  Disposed Of" ("SFAS 121").   SFAS
121 provides  the standards for accounting  for the impairment of  various long-
lived  assets.  The Limited  Partnership is required to  adopt SFAS 121 no later
than 1996.  The Limited Partnership uses the full cost  method of accounting for
its only  long-lived assets, which  requires an impairment  to be recorded  when
total  capitalized costs  exceed  the  present  value,  discounted  at  10%,  of
estimated future  net revenues from proved oil and gas reserves.  Therefore, the
adoption of SFAS 121 is not expected to have a material  effect on the financial
position or results of operations of the Limited Partnership.

RESULTS OF OPERATIONS
---------------------

1995 COMPARED TO 1994
---------------------

OIL REVENUE

Oil revenue increased $3,000 during 1995 as compared with 1994.  The increase is
comprised of an increase in the average oil price from $16.03 per barrel in 1994
to $17.68 per barrel in 1995 combined  with a 2% increase in production as shown
in the  table  below.   The increase  in production  is due  to increased  state
allowable production  limits, partially offset by normal  production declines as
well as the temporary abandonment of one well and the sale of another during the
second quarter of 1994.

GAS REVENUE

Gas revenue decreased $8,000 during 1995 as compared with 1994.  The decrease is
due  to a decrease in  the average gas  price from $2.14 per  mcf during 1994 to
$1.83 per mcf during 1995,  partially offset by a 12% increase in  production as
shown below.   The increase in  production is due  to increased state  allowable
production limits, partially offset by normal production declines as well as the
temporary abandonment  of one well  and the  sale of another  during the  second
quarter of 1994.

The following  table summarizes  the Limited Partnership's  share of  production
from the Limited Partnership's significant properties for 1995 and 1994.

<TABLE>
<CAPTION>
                                            Net Production          
                                       1995                1994     
                                   Oil       Gas       Oil       Gas
 County, State and Well          (Bbls)     (Mcf)    (Bbls)     (Mcf)
 ----------------------
      <S>                       <C>     <C>         <C>      <C>   
      Lafayette, Louisiana
      --------------------
           Hutchinson #1           62    11,106        71    13,882
           Meaux Prospect
           --------------
           Richard #1             177    15,905       204    18,211
           Warwick Richard #1       -         -        19     1,011
           Middle Bayou Cannes
           -------------------
           Duhon #1                 1        14        18     1,153
           Boudreaux Prospect
           ------------------
           A. L. Boudreaux #1   1,488    74,686     1,390    56,959

           G. S. Boudreaux         28     1,460        25     1,216
           Estate #1
           Hallwood Fontenot        5       590         2       220
           #1

      Other Properties              9       506        10       523
                                -----   -------    ------   -------
           Total Net            1,770   104,267     1,739    93,175
           Production            =====  =======      =====   ======

</TABLE>

LEASE OPERATING 

Lease  operating expense  decreased $10,000  during 1995  as compared  with 1994
primarily due to the sale of the Warwick Richard #1 during the second quarter of
1994 and the temporary abandonment of the Duhon #1.

PRODUCTION TAXES

Production taxes increased $6,000 during 1995 as compared with 1994  as a result
of  the settlement  of a  lawsuit which  resulted in  lower in  production taxes
during 1994.

GENERAL AND ADMINISTRATIVE

General and administrative  expenses decreased $23,000  during 1995 as  compared
with 1994  primarily due to  a decrease in  the allocation of  overhead from the
general partner.

DEPLETION

Depletion expense  increased $7,000 during 1995  as compared with 1994  due to a
higher  depletion rate  caused by  the 11%  increase in  oil and  gas production
during 1995.

LITIGATION SETTLEMENT

Litigation settlement expense during  1995 primarily represents amounts  paid in
connection with the settlement of a royalty dispute on the Duhon #1 well.

1994 COMPARED TO 1993
---------------------

OIL REVENUE

Oil  revenue decreased $22,000  in 1994 as  compared to  1993.  The  average oil
price  decreased from $17.89  per barrel in  1993 to $16.03 per  barrel in 1994.
Oil production decreased 38%  as shown in the table below, primarily  due to the
reduction in  state allowable production  limits, as  well as normal  production
declines.
  
GAS REVENUE

Gas revenue decreased $170,000  as compared to  1993.  Gas production  decreased
43%  as  shown in  the  table below,  primarily due  to  the reduction  in state
allowable production limits, as well as normal production declines.  The average
gas price decreased from $2.26 per mcf in 1993 to $2.14 per mcf in 1994.  



The following  table summarizes  the Limited  Partnership's share of  production
from the Limited Partnership's significant properties for 1994 and 1993.

<TABLE>
<CAPTION>
                                        Net Production          
                                  1994                 1993     
                             Oil       Gas        Oil        Gas
 County, State and Well    (Bbls)     (Mcf)     (Bbls)      (Mcf)
 ----------------------
 <S>                      <C>      <C>          <C>       <C>   
   Lafayette, Louisiana
   --------------------
      Hutchinson #1          71     13,882       299      34,680
      Meaux Prospect
      --------------

      Richard #1            204     18,211       229      18,075
      Warwick Richard #1     19      1,011        10       5,711
      Middle Bayou
      Cannes
      ------------
      Duhon #1               18      1,153       325      13,155
      Boudreaux Prospect
      ------------------
      A. L. Boudreaux #1  1,390     56,959     1,825      85,682
      G. S. Boudreaux        25      1,216        28       1,274
      Estate #1
      Hallwood Fontenot       2        220         4         630
      #1

      Other Properties       10        523        96       4,368
                         ------     ------    ------      ------
           Total Net      1,739     93,175     2,816     163,575
           Production      =====   =======      =====    =======
</TABLE>

LEASE OPERATING

Lease operating expense decreased $4,000 in 1994  as compared to 1993, primarily
due to the sale of the Warwick Richard #1 in the second quarter of 1994.

PRODUCTION TAXES

Production taxes decreased $17,000 in 1994 as compared to 1993, primarily due to
the decrease in revenue mentioned previously.

GENERAL AND ADMINISTRATIVE

General  and administrative  expenses decreased $23,000  in 1994  as compared to
1993, due to a decrease in allocation of overhead from the general partner.

DEPLETION

Depletion  expense decreased $24,000 in 1994 as  compared to 1993, primarily due
to a lower depletion rate. 

LITIGATION SETTLEMENT

Litigation  settlement expense  during 1993  represents the  costs of  a lawsuit
settlement which is discussed in Item 8 - Note 3 of this Form 10-K.



ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

                          INDEX TO FINANCIAL STATEMENTS

                                                                            PAGE

FINANCIAL STATEMENTS:

     Independent Auditors' Report                                             12

     Balance Sheets at December 31, 1995 and 1994 -
     May Drilling Partnership 1983-1                                          13

     Balance Sheets at December 31, 1995 and 1994 -
          May Limited Partnership 1983-1                                      14

     Statements of Operations for the Years Ended
          December 31, 1995, 1994 and 1993 -
     May Limited Partnership 1983-1                                           15

     Statements of Changes in Partners' Capital for the
          Years Ended December 31, 1995, 1994 and 1993 -
          May Limited Partnership 1983-1                                      16

     Statements of Cash Flows for the Years Ended
          December 31, 1995, 1994 and 1993 - 
          May Limited Partnership 1983-1                                      17

     Notes to Financial Statements - May Drilling Partnership 1983-1
          and May Limited Partnership 1983-1                               18-21

SUPPLEMENTAL OIL AND GAS RESERVE INFORMATION (UNAUDITED)                      22



                          INDEPENDENT AUDITORS' REPORT
                          -----------------------------



TO THE PARTNERS OF MAY DRILLING PARTNERSHIP 1983-1 AND 
     MAY LIMITED PARTNERSHIP 1983-1:

We  have audited  the financial  statements of  May Drilling  Partnership 1983-1
("General   Partnership")   and  May   Limited   Partnership  1983-1   ("Limited
Partnership") as of December 31,  1995 and 1994 and for each of  the three years
in the period ended December 31, 1995, listed in the accompanying  index at Item
8.    These financial  statements are  the  responsibility of  the Partnerships'
management.   Our responsibility  is to  express an  opinion on  these financial
statements based on our audits.

We  conducted  our  audits  in   accordance  with  generally  accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing  the accounting  principles  used and  significant  estimates made  by
management, as well as evaluating the overall  financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In  our opinion,  such  financial statements  present  fairly, in  all  material
respects,  the financial  position of  the General  Partnership and  the Limited
Partnership  at December 31,  1995 and 1994,  and the results  of operations and
cash flows of the Limited Partnership for each of  the three years in the period
ended  December  31,  1995  in  conformity  with  generally accepted  accounting
principles.  



DELOITTE & TOUCHE LLP

Denver, Colorado
February 27, 1996



                         MAY DRILLING PARTNERSHIP 1983-1
                                 BALANCE SHEETS
                                 (In thousands)

<TABLE>
<CAPTION>
                                     December 31,   December 31,
                                         1995            1994   

 <S>                                   <C>            <C>

 ASSETS
 Investment in May Limited               $207           $198
 Partnership 1983-1                       ===            ===


 PARTNERS' CAPITAL

 Partners' Capital                       $207           $198
                                          ===            ===
</TABLE>



Note:     The statements of operations and cash flows for May Drilling
          Partnership   1983-1   are   not   presented   because  such
          information is equal to the Limited Partners' share of  such
          activity as presented in  the May Limited Partnership 1983-1
          financial statements.  The  May Drilling Partnership carries
          its  investment in  May  Limited Partnership  1983-1 on  the
          equity method.  The May Limited Partnership 1983-1 financial
          statements should  be read in conjunction  with this balance
          sheet.



                         MAY LIMITED PARTNERSHIP 1983-1
                                 BALANCE SHEETS
                                 (In thousands)

<TABLE>
<CAPTION>
                                     December 31,   December 31,
                                         1995            1994   
 <S>                                  <C>             <C>    
 ASSETS
 CURRENT ASSETS
      Cash and cash equivalents         $  115         $   96
      Accrued oil and gas sales             52             31
      Due from affiliate                     8
                                         -----         ------<PAGE>
                Total                      175            127
                                         -----         ------

 OIL AND GAS PROPERTIES, using the 
    full cost method of accounting       7,287          7,271
      Less - Accumulated depletion      (7,022)        (6,973)
                                        ------         ------
           Net oil and gas                 265            298
           properties                   ------         ------


 TOTAL ASSETS                          $   440        $   425
                                         ======         ======

 LIABILITIES AND PARTNERS' CAPITAL
 CURRENT LIABILITIES
      Accounts payable and accrued     $    20        $    22
      liabilities
      Payable to affiliate                                  2
                                        ------        -------
                Total                       20             24
                                        ------        -------

 PARTNERS' CAPITAL
      General partner                      213            203
      Limited partner                      207            198
                                         -----          -----
                Total                      420            401
                                         -----          -----

 TOTAL LIABILITIES AND PARTNERS'       $   440        $   425
 CAPITAL                                 ======         ======
</TABLE>



                         MAY LIMITED PARTNERSHIP 1983-1
                            STATEMENTS OF OPERATIONS
              FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993
                        (In thousands, except for Units) 

<TABLE>
<CAPTION>
                                   1995        1994        1993  
 <S>                            <C>         <C>         <C>    
 REVENUES
    Oil revenue                 $    31     $    28     $    50
    Gas revenue                     191         199         369
    Interest income                   5           6           4
                                 ------      ------      ------
                Total               227         233         423
                                 ------      ------      ------

 COSTS AND EXPENSES
    Lease operating                  38          48          52
    Production taxes                 13           7          24
    General and administrative       77         100         123
    Depletion                        49          42          66
    Litigation settlement             4                     102
    Professional services and  
     other                            9           9           7
                                 ------      ------      ------
                Total               190         206         374
                                 ------      ------      ------<PAGE>
 NET INCOME                     $    37     $    27     $    49
                                  ======      ======      ======

 ALLOCATION OF NET INCOME:
    General Partner             $    28     $    22     $    35
                                  ======      ======      ======
    Limited Partner             $     9     $     5     $    14
                                  ======      ======      ======
    Per initial $1,000 Limited 
      Partner investment        $  1.91     $  1.06     $  2.97   
                                  ======      ======      ====== 

    Weighted average initial   
      $1,000 Limited Partner   
      investment units
      outstanding                 4,713       4,713       4,713
                                   =====       =====       =====
</TABLE>


                         MAY LIMITED PARTNERSHIP 1983-1
                   STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
              FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993
                                 (In thousands)

<TABLE>
<CAPTION>
                                General     Limited
                                Partner     Partner      Total
 <S>                          <C>         <C>         <C>    
 BALANCE, DECEMBER 31, 1992   $   279     $   369     $   648
      Net income                   35          14          49
      Distributions               (61)        (89)       (150)
                               ------      ------      ------

 BALANCE, DECEMBER 31, 1993       253         294         547
      Net income                   22           5          27
      Distributions               (72)       (101)       (173)
                               ------      ------      ------

 BALANCE, DECEMBER 31, 1994       203         198         401
      Net income                   28           9          37
      Distributions               (18)                    (18)
                               ------      ------      ------

 BALANCE, DECEMBER 31, 1995   $   213     $   207     $   420
                                ======      ======      ======
</TABLE>

                         MAY LIMITED PARTNERSHIP 1983-1
                            STATEMENTS OF CASH FLOWS
              FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993
                                 (In thousands) 

<TABLE>
<CAPTION>
                                 1995        1994        1993  
 <S>                          <C>         <C>         <C>    
 OPERATING ACTIVITIES:
   Net income                 $    37     $    27     $    49
   Adjustment to reconcile   
     net income to net cash  
     provided by operating   
     activities:
      Depletion                    49          42          66
                               ------      ------      ------

      Cash from operations
      before working capital
      changes                      86          69         115

   Changes in assets and     
     liabilities provided    
     (used) cash:
      Accrued oil and gas
      sales                       (21)         42          16
      Due from affiliate           (8)        120         (78)

      Accounts payable and
      accrued liabilities          (2)       (107)        102
      Payable to affiliate         (2)          2
                               ------      ------      ------

                                                             

      Net cash provided by   
        operating activities       53         126         155
                               ------      ------      ------

 INVESTING ACTIVITIES:
   Proceeds from sale of oil 
     and gas properties                         7
   Additions to oil and gas  
     properties                   (16)         (6)        (18)
                               ------      ------      ------

      Net cash provided by   
        (used in) investing  
        activities                (16)          1         (18)
                               ------      ------      ------

 FINANCING ACTIVITIES:
   Distributions to partners      (18)       (173)       (150)
                               ------      ------      ------
      Net cash used in       
        financing activities      (18)       (173)       (150)
                               ------      ------      ------

 NET INCREASE (DECREASE) IN  
   CASH AND CASH EQUIVALENTS       19         (46)        (13)

 CASH AND CASH EQUIVALENTS:

   BEGINNING OF YEAR               96         142         155
                               ------      ------      ------

   END OF YEAR                $   115     $    96     $   142
                                ======      ======      ======
<F1>
                  The accompanying notes are an integral part 
                          of the financial statements.
</TABLE>
                        MAY DRILLING PARTNERSHIP 1983-1  
                                       AND
                         MAY LIMITED PARTNERSHIP 1983-1

                          NOTES TO FINANCIAL STATEMENTS


(1)  ACCOUNTING POLICIES AND OTHER MATTERS

GENERAL PARTNERSHIP 

May  Drilling Partnership  1983-1,  a Texas  general  partnership (the  "General
Partnership"), was organized by  May Petroleum Inc.  ("May") for the purpose  of
oil and  gas exploration through May  Limited Partnership   1983-1 (the "Limited
Partnership").    The  General Partnership  was  formed  on May  31,  1983, with
investors ("Participants") subscribing an  aggregate of $4,713,000 in assessable
$1,000 units.    After the  expenditure  of  the initial  contributions  of  the
Participants,  additional  mandatory  assessments  from  each   Participant  are
provided  for under the terms of the  general partnership agreement in an amount
up to  25% of  the initial contribution  of the Participant.   During  1984, May
assessed  the  Participants  13%  of   initial  contributions.    No  additional
assessments have been made since 1984.

The general partnership  agreement requires that the manager,   Hallwood  Energy
Partners,   L.  P. ("HEP"),  offer  to  repurchase  partnership  interests  from
Participants for  cash at amounts to  be determined by appraisal  of the Limited
Partnership's  net assets no  later than December  31, 1988, and  during the two
succeeding  years,  if such  net  assets are  positive.   The  manager  has made
repurchase offers in all years since 1989 and intends to make a repurchase offer
in 1996.

As  the  General  Partnership  is  the  sole  limited  partner  of  the  Limited
Partnership,  its results  of operations,  cash flows  and changes  in partners'
capital are  equal to the  limited partner's share of  the Limited Partnership's
results of operations, cash flows and  changes in partners' capital as set forth
herein.  Therefore, separate statements of operations, cash flows and changes in
partners' capital are not presented for the General Partnership.

LIMITED PARTNERSHIP 

The Limited Partnership, a  Texas limited partnership, was organized  by May and
the  General Partnership  for the  purpose of  oil and  gas exploration  and the
production  of crude  oil,  natural gas  and petroleum  products.   The  Limited
Partnership's oil and gas reserves are located  in prospects in south Louisiana.
Among  other things,  the  terms  of  the  limited  partnership  agreement  (the
"Agreement") give  the  general partner  the  authority to  borrow  funds.   The
Agreement also requires that  the general partner's total capital  contributions
to the Limited Partnership  as of each year  end, including unrecovered  general
partner  acreage and  equipment  advances, must  be  compared to  total  Limited
Partnership expenditures from inception  to date, and if such  contributions are
less than  15% of such expenditures, an additional contribution in the amount of
the deficiency is required.   At December 31, 1995,  no additional contributions
were necessary to comply with this requirement.

On June 30, 1987,  May sold to HEP all  of its economic interest in  the Limited
Partnership and  account receivable balances  due from the  Limited Partnership.
HEP became the general partner of the Limited Partnership in 1988.


SHARING OF COSTS AND REVENUES 

Capital  costs, as defined by  the Agreement, for  commercially productive wells
and the costs related to  the organization of the Limited Partnership  are borne
by the general partner.  Noncapital costs and direct expenses, as defined by the
Agreement, are charged 1% to the general partner and 99% to the limited partner.
Oil  and gas sales, operating  expenses and general  and administrative overhead
are shared so that  the general partner's  allocation will equal the  percentage
that the  amount of Limited Partnership  expenses, as defined,  allocated to the
general  partner bears to the  aggregate amount of  Limited Partnership expenses
allocated to  the general partner  and the  limited partner, plus  15 percentage
points, but in no event  will the general partner's allocation exceed 50%.   The
sharing ratio for each of the last three years was as follows: 

<TABLE>
<CAPTION>
                       1995      1994      1993 
 <S>                  <C>       <C>       <C>   
 Limited Partner       57.9%     58.1%     58.6%
 General Partner       42.1%     41.9%     41.4%
</TABLE>


SIGNIFICANT CUSTOMER 
     
For the years ended December 31, 1995, 1994 and 1993, purchases by the following
company  exceeded  10% of  the  total  oil  and  gas  revenues  of  the  Limited
Partnership:

<TABLE>
<CAPTION>
                       1995      1994      1993 
 <S>                   <C>       <C>       <C> 
 Conoco Inc.            91%       64%       77%
</TABLE>


Although the  Limited Partnership  sells the majority  of its production  to one
purchaser, there are numerous other purchasers in  the area, so the loss of  its
significant  customer  would  not  adversely  affect  the Limited  Partnership's
operations.

INCOME TAXES 

No provision for federal income taxes is included in the financial statements of
the Limited  Partnership or  the General  Partnership because, as  partnerships,
they  are  not subject  to  federal income  tax  and the  tax  effects  of their
activities  accrue  to  the  partners.    The  partnerships'  tax  returns,  the
qualification  of the  General  and  Limited  Partnerships as  partnerships  for
federal income  tax purposes,  and the  amount  of taxable  income or  loss  are
subject  to  examination by  federal  and  state taxing  authorities.    If such
examinations result in changes to the partnerships' taxable income  or loss, the
tax liability of the partners could change accordingly.

OIL AND GAS PROPERTIES 

The Limited Partnership follows the  full cost method of accounting for  oil and
gas  properties  and, accordingly,  capitalizes  all costs  associated  with the
exploration and development of oil and gas reserves.

The capitalized costs  of evaluated properties,  including the estimated  future
costs  to  develop proved  reserves, are  amortized on  the units  of production
basis.  Full cost amortization per dollar of gross oil and gas revenues was $.22
in 1995,  $.19 in 1994 and $.16 in 1993.

Capitalized costs  are limited to an  amount not to exceed the  present value of
estimated future net cash  flows.  No valuation adjustment was required in 1995,
1994 or 1993.  Significant price declines in the future could cause  the Limited
Partnership  to experience valuation adjustments and  could reduce the amount of
future cash flow available for distributions and operations.

Generally no gains  or losses are recognized  on the sale or disposition  of oil
and  gas properties.   Maintenance and repairs  are charged against  income when
incurred.  

During 1995,  the  Financial  Accounting  Standards Board  issued  Statement  of
Financial Accounting Standards No.  121 "Accounting for the Impairment  of Long-
Lived Assets and  for Long-Lived Assets to  be Disposed Of" ("SFAS  121").  SFAS
121  provides the standards for  accounting for the  impairment of various long-
lived assets.  The  Limited Partnership is required  to adopt SFAS 121 no  later
than 1996.  The Limited Partnership uses the full  cost method of accounting for
its only long-lived  assets, which requires  an impairment  to be recorded  when
total  capitalized costs  exceed  the  present  value,  discounted  at  10%,  of
estimated future net revenues from proved oil and gas reserves.   Therefore, the
adoption of SFAS 121 is not expected  to have a material effect on the financial
position or results of operations of the Limited Partnership.

GAS BALANCING 

The  Limited Partnership uses the sales method for accounting for gas balancing.
Under  this method,  the Limited  Partnership recognizes  revenue on all  of its
sales of production, and any over production or under production is recovered at
a future date.

As of December 31, 1995, the net imbalance to the Limited Partnership's interest
is  not considered material.  Current imbalances  can be made up with production
from existing  wells or from wells which  will be drilled as  offsets to current
producing wells.

USE OF ESTIMATES

The  preparation of  the financial  statements for  the Limited  Partnership and
General Partnership in conformity  with generally accepted accounting principles
requires management to make  estimates and assumptions that affect  the reported
amounts  of assets  and  liabilities and  disclosure  of contingent  assets  and
liabilities at the date of the  financial statements and the reported amounts of
revenues and  expenses during the reporting period.  Actual results could differ
from these estimates.

RELATED PARTY TRANSACTIONS 

Hallwood  Petroleum, Inc. ("HPI"), a subsidiary of the general partner, pays all
costs and expenses of operations and  receives all revenues associated with  the
Limited Partnership's properties.   At  month end, HPI  distributes revenues  in
excess of costs to the Limited Partnership.

The amount due from HPI as of December 31, 1995 was $8,000 and the amount due to
HPI was  $2,000 as of December 31, 1994.   These balances represent net revenues
less operating costs and expenses.  

CASH FLOWS  

All  highly  liquid investments  purchased with  an  original maturity  of three
months or less are considered to be cash equivalents. 

RECLASSIFICATIONS

Certain reclassifications have  been made to prior years'  amounts to conform to
the classifications used in the current year.



(2)  GENERAL AND ADMINISTRATIVE OVERHEAD

HPI  conducts the  day to day  operations of  the Limited  Partnership and other
affiliated  partnerships of  HEP.    The costs  of  operating  the entities  are
allocated to  each partnership based  upon the time  spent on  that partnership.
General  and administrative overhead allocated by HPI to the Limited Partnership
totaled $73,000, $99,000 and $120,000 in 1995, 1994 and 1993.


(3)  LEGAL PROCEEDINGS

In June 1993, 14 lawsuits were filed against the Limited Partnership in the 15th
Judicial  District Court,  Lafayette  Parish, Louisiana,  Docket Nos.  93-2332-F
through 93-2345-F,  styled Lamson  Petroleum Corporation v.  Hallwood Petroleum,
Inc. et al.  The  plaintiffs in the lawsuits  claim that they have valid  leases
covering streets and roads  in the units of the  A. L. Boudreaux #1 well,  G. S.
Boudreaux  #1 well,  Mary Guilbeau #1  well and  Duhon #1  well, which represent
approximately   3%  to  4%  of  the  Limited  Partnership's  interest  in  these
properties,  and are  entitled to  a portion  of the  production from  the wells
dating from February  1990.  The Limited Partnership has  not recognized revenue
attributable  to the  contested  leases since  January  1993.   These  revenues,
totaling  $20,000  at December  31,  1995, have  been  placed in  escrow pending
resolution of the lawsuits.  At this time, the Limited Partnership believes that
the difference between the escrowed amount  and the amount of any liability that
may result upon resolution of this matter will not be material.

In February 1994,  the Limited Partnership and the other  parties to the lawsuit
styled SAS  Exploration, Inc. v. Hall  Financial Group, Inc. et  al. settled the
lawsuit.  The plaintiffs  alleged that certain leases in the  A. L. Boudreaux #1
and A.  M. Duhon #1  wells expired and  terminated at the  end of  their primary
terms as a result of production being from the Bol Mex 4 Sand rather than the A.
B.  Sand.  In the settlement, the  Limited Partnership and the plaintiffs cross-
conveyed interests in certain leases to one another and the  Limited Partnership
paid the  plaintiffs $102,000.   The cash  paid by the  Limited Partnership  was
reflected  as litigation settlement expense  in the December  31, 1993 financial
statements.   The  interest conveyance  resulted in  a decrease  in the  Limited
Partnership's reserves as of December 31, 1993 totaling 66,000 mcf of gas, 1,400
barrels of oil and $124,000 in future net revenues, discounted at 10%.


                  SUPPLEMENTAL OIL AND GAS RESERVE INFORMATION
                                   (Unaudited)

The  following tables contain certain  costs and reserve  information related to
the Limited Partnership's oil  and gas activities.  The  Limited Partnership has
no long-term supply  agreements and all reserves  are located within  the United
States.

COSTS INCURRED -

<TABLE>
<CAPTION>
                                   For the Years Ended December 31,
                                 1995            1994             1993
                                         (In thousands)
 <S>                         <C>                 <C>         <C>  
 Development costs            $ 16                $  6        $ 11
 Acquisition costs               -                   -           7
                               ---                 ---         ---
                              $ 16                $  6        $ 18
                                ===                ===          ===
</TABLE>


OIL AND GAS RESERVES -

<TABLE>
<CAPTION>

                               1995             1994            1993  
                           Bbls     Mcf     Bbls    Mcf     Bbls     Mcf
                                           (In thousands)
 <S>                      <C>     <C>      <C>    <C>       <C>    <C> 
 Total Proved Reserves:
   Beginning of period     13      637      16     795       20     986
   Revisions to previous 
    estimates               1       99      (1)    (56)       -      39
   Litigation settlement 
    (a)                     -        -       -       -       (1)    (66)

   Sale of reserves in   
    place                   -        -       -      (9)       -       -
   Production              (2)    (104)     (2)    (93)      (3)   (164)
                         ----     ----    ----    ----     ----    ----
      End of Period        12      632      13     637       16     795
                         ====     ====    ====    ====     ====    ====


 Proved Developed
 Reserves:
      Beginning of
      period               13      637      16     791       20     986
                         ====     ====    ====    ====     ====    ====

      End of period        12      632      13     637       16     795
                         ====     ====    ====    ====     ====    ====

</TABLE>


Certain reserve value  information is provided directly to  partners pursuant to
the Agreement.  Accordingly, such information is not presented herein.

(a)  See Note 3 to financial statements.

ITEM 9  - DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.


                                    PART III
                                    --------


ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The Drilling  Partnership and Limited  Partnership are managed by  affiliates of
HEP and do not have directors or executive officers.


ITEM 11 - EXECUTIVE COMPENSATION

The  partnerships pay  no salaries  or  other direct  remuneration to  officers,
directors  or  key  employees of  the  general  partner  or  HPI.   The  Limited
Partnership  reimburses the general partner for general and administrative costs
incurred on behalf of the partnerships.  See Note 2 to the Financial Statements.


ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

To  the  knowledge  of  the  general  partner,  no  person  owns  of  record  or
beneficially more than 5% of the Drilling Partnership's outstanding units, other
than  HEP, the  address  of which  is  4582 S.  Ulster  Street Parkway,  Denver,
Colorado   80237,  and  which  beneficially  owns  approximately  38.8%  of  the
outstanding units.  The general partner of HEP is Hallwood Energy Corporation. <PAGE>
ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

For  information with respect to  the Limited Partnership  and its relationships
and transactions with the general partner, see Part I, Item 1 and Part  II, Item
7.


                                     PART IV
                                    ---------


ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

     a.   Financial Statements and Schedules:
               See Index at Item 8.

     b.   Reports on Form 8-K - None.

     c.        Exhibits:

               3.1  The   General  Partnership   Agreement   and   the   Limited
                    Partnership Agreement filed  as an  Exhibit to  Registration
                    Statement No. 0-11311, are incorporated herein by reference.


SIGNATURES
----------

Pursuant to the requirements of  Section 13 or 15(d) of the  Securities Exchange
Act of  1934, as amended,  the Partnerships have  duly caused this report  to be
signed on their behalf by the undersigned, thereunto duly authorized.


                               MAY DRILLING PARTNERSHIP 1983-1
                               MAY LIMITED PARTNERSHIP 1983-1
                               BY:  EDP OPERATING, LTD., GENERAL
                                    PARTNER

                               BY:  HALLWOOD G.P., INC.
                                         GENERAL PARTNER




                               By:  /s/William L. Guzzetti       
                                    -------------------------
                                    William L. Guzzetti
                                    President, Chief Executive
                                    Officer and Director


Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been  signed below by the following persons  on behalf of the registrant and
in the capacities and on the dates indicated.

           Signature                  Title               Date




 /s/Robert S. Pfeiffer         Vice President       February 29, 1996
 ---------------------------   (Principal          -----------------
 Robert S. Pfeiffer            Accounting
                               Officer)