SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549



                                    FORM 10-Q


               Quarterly Report Pursuant to Section 13 or 15(d)
                    of the Securities Exchange Act of 1934


For the quarter ended                     Commission File Number
    March 31, 2001                                0-13430



                       DYCO OIL AND GAS PROGRAM 1984-1
                           (A LIMITED PARTNERSHIP)
            (Exact Name of Registrant as specified in its charter)



         Minnesota                        41-1465070
(State or other jurisdiction    (I.R.S. Employer Identification
   of incorporation or                     Number)
     organization)



Samson Plaza, Two West Second Street, Tulsa, Oklahoma  74103
------------------------------------------------------------
(Address of principal executive offices)              (Zip Code)



                                 (918) 583-1791
       ----------------------------------------------------
        (Registrant's telephone number, including area code)


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
                            ------                    ------




                                      -1-
<PAGE>




                        PART I. FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS

             DYCO OIL AND GAS PROGRAM 1984-1 LIMITED PARTNERSHIP
                                 BALANCE SHEETS
                                   (Unaudited)

                                     ASSETS

                                                 March 31,     December 31,
                                                   2001            2000
                                                 ---------     ------------

CURRENT ASSETS:
   Cash and cash equivalents                      $ 84,226        $ 35,918
   Accrued oil and gas sales                       104,653         127,342
                                                  --------        --------
      Total current assets                        $188,879        $163,260

NET OIL AND GAS PROPERTIES, utilizing
   the full cost method                            208,006         218,666

DEFERRED CHARGE                                     54,752          54,752
                                                  --------        --------
                                                  $451,637        $436,678
                                                  ========        ========

                        LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
   Accounts payable                               $  3,383        $  3,493
                                                  --------        --------
      Total current liabilities                   $  3,383        $  3,493

ACCRUED LIABILITY                                 $ 21,428        $ 23,404

PARTNERS' CAPITAL:
   General Partner, 55 general
      partner units                               $  4,268        $  4,098
   Limited Partners, issued and
      outstanding, 5,500 Units                     422,558         405,683
                                                  --------        --------
      Total Partners' capital                     $426,826        $409,781
                                                  --------        --------
                                                  $451,637        $436,678
                                                  ========        ========



            The accompanying condensed notes are an integral part of
                           these financial statements.



                                      -2-
<PAGE>



             DYCO OIL AND GAS PROGRAM 1984-1 LIMITED PARTNERSHIP
                           STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (Unaudited)

                                                 2001              2000
                                               ---------         ---------

REVENUES:
   Oil and gas sales                            $211,311         $115,731
   Interest                                          870            1,859
                                                --------         --------
                                                $212,181         $117,590

COSTS AND EXPENSES:
   Oil and gas production                       $ 23,933         $ 27,218
   Depreciation, depletion, and
      amortization of oil and gas
      properties                                  10,166           11,816
   General and administrative
      (Note 2)                                    22,162           20,590
                                                --------         --------
                                                $ 56,261         $ 59,624
                                                --------         --------

NET INCOME                                      $155,920         $ 57,966
                                                ========         ========
GENERAL PARTNER (1%) - net
   income                                       $  1,559         $    580
                                                ========         ========
LIMITED PARTNERS (99%) - net
   income                                       $154,361         $ 57,386
                                                ========         ========
NET INCOME PER UNIT                             $  28.07         $  10.43
                                                ========         ========
UNITS OUTSTANDING                                  5,555            5,555
                                                ========         ========


            The accompanying condensed notes are an integral part of
                           these financial statements.



                                      -3-
<PAGE>



             DYCO OIL AND GAS PROGRAM 1984-1 LIMITED PARTNERSHIP
                           STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (Unaudited)

                                                  2001             2000
                                                ---------       ----------

CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income                                   $155,920          $ 57,966
   Adjustments to reconcile net income
      to net cash provided by operating
      activities:
      Depreciation, depletion, and
        amortization of oil and gas
        properties                                10,166            11,816
      (Increase) decrease in accrued oil
        and gas sales                             22,689         (     552)
      Increase (decrease) in accounts
        payable                                (     110)              577
      Increase in payable to General
        Partner                                        -             2,000
      Decrease in accrued liability            (   1,976)                -
                                                --------          --------
   Net cash provided by operating
      activities                                $186,689          $ 71,807
                                                --------          --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Proceeds from the sale of oil and
      gas properties                            $    494          $      -
   Additions to oil and gas properties                 -         (  51,898)
                                                --------          --------
   Net cash provided (used) by
      investing activities                      $    494         ($ 51,898)
                                                --------          --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($138,875)        ($138,875)
                                                --------          --------
   Net cash used by financing
      activities                               ($138,875)        ($138,875)
                                                --------          --------

NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                             $ 48,308         ($118,966)

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                            35,918           132,902
                                                --------          --------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $ 84,226          $ 13,936
                                                ========          ========

            The accompanying condensed notes are an integral part of
                           these financial statements.


                                      -4-
<PAGE>



             DYCO OIL AND GAS PROGRAM 1984-1 LIMITED PARTNERSHIP
                   CONDENSED NOTES TO FINANCIAL STATEMENTS
                                 MARCH 31, 2001
                                   (Unaudited)


1.    ACCOUNTING POLICIES
      -------------------

      The balance sheet as of March 31, 2001,  statements of operations  for the
      three months ended March 31, 2001 and 2000,  and  statements of cash flows
      for the three months  ended March 31, 2001 and 2000 have been  prepared by
      Dyco Petroleum Corporation  ("Dyco"),  the General Partner of the Dyco Oil
      and Gas Program 1984-1 Limited Partnership (the "Program"), without audit.
      In the opinion of management  all  adjustments  (which include only normal
      recurring  adjustments) necessary to present fairly the financial position
      at March 31, 2001,  results of operations for the three months ended March
      31, 2001 and 2000,  and changes in cash flows for the three  months  ended
      March 31, 2001 and 2000 have been made.

      Information  and  footnote  disclosures  normally  included  in  financial
      statements  prepared in  accordance  with  generally  accepted  accounting
      principles  have been  condensed or omitted.  It is  suggested  that these
      financial  statements be read in conjunction with the financial statements
      and notes thereto included in the Program's Annual Report on Form 10-K for
      the year ended December 31, 2000. The results of operations for the period
      ended March 31, 2001 are not  necessarily  indicative of the results to be
      expected for the full year.

      OIL AND GAS PROPERTIES
      ----------------------

      Oil and gas  operations  are  accounted  for using the full cost method of
      accounting.  All productive and  non-productive  costs associated with the
      acquisition,  exploration  and  development  of oil and gas  reserves  are
      capitalized.  The Program's  calculation of depreciation,  depletion,  and
      amortization  includes  estimated  future  expenditures  to be incurred in
      developing  proved  reserves and estimated  dismantlement  and abandonment
      costs, net of estimated  salvage values. In the event the unamortized cost
      of oil and gas properties  being  amortized  exceeds the full cost ceiling
      (as defined by the  Securities  and  Exchange  Commission),  the excess is
      charged to expense in the period  during which such excess  occurs.  Sales
      and  abandonments  of  properties  are  accounted  for as  adjustments  of
      capitalized costs with no gain or loss recognized, unless such adjustments
      would significantly  alter the relationship  between capitalized costs and
      proved oil and gas reserves.



                                      -5-
<PAGE>



      The provision for depreciation, depletion, and amortization of oil and gas
      properties is calculated by dividing the oil and gas sales dollars  during
      the  period by the  estimated  future  gross  income  from the oil and gas
      properties and applying the resulting  rate to the net remaining  costs of
      oil and gas properties that have been  capitalized,  plus estimated future
      development costs.


2.    TRANSACTIONS WITH RELATED PARTIES
      ---------------------------------

      Under the terms of the Program's partnership  agreement,  Dyco is entitled
      to  receive a  reimbursement  for all  direct  expenses  and  general  and
      administrative, geological and engineering expenses it incurs on behalf of
      the Program.  During the three  months ended March 31, 2001 and 2000,  the
      Program incurred such expenses totaling $22,162 and $20,590, respectively,
      of which $12,006 was paid each period to Dyco and its affiliates.

      Affiliates of the Program  operate  certain of the  Program's  properties.
      Their  policy is to bill the  Program for all  customary  charges and cost
      reimbursements associated with these activities.







                                      -6-
<PAGE>



ITEM 2.     MANAGEMENT'S  DISCUSSION  AND ANALYSIS OF FINANCIAL  CONDITION AND
            RESULTS OF OPERATIONS


USE OF FORWARD-LOOKING STATEMENTS AND ESTIMATES
-----------------------------------------------

      This Quarterly Report contains  certain  forward-looking  statements.  The
      words "anticipate",  "believe",  "expect",  "plan", "intend",  "estimate",
      "project", "could", "may" and similar expressions are intended to identify
      forward-looking  statements.  Such statements reflect management's current
      views  with  respect  to future  events and  financial  performance.  This
      Quarterly Report also includes certain information,  which is, or is based
      upon,  estimates  and  assumptions.  Such  estimates and  assumptions  are
      management's  efforts to accurately reflect the condition and operation of
      the Program.

      Use of  forward-looking  statements and estimates and assumptions  involve
      risks  and  uncertainties  which  include,  but are not  limited  to,  the
      volatility of oil and gas prices, the uncertainty of reserve  information,
      the operating risk associated  with oil and gas properties  (including the
      risk of personal injury,  death,  property  damage,  damage to the well or
      producing  reservoir,  environmental  contamination,  and other  operating
      risks), the prospect of changing tax and regulatory laws, the availability
      and capacity of  processing  and  transportation  facilities,  the general
      economic climate,  the supply and price of foreign imports of oil and gas,
      the level of consumer  product demand,  and the price and  availability of
      alternative  fuels.  Should  one or more of these  risks or  uncertainties
      occur or should  estimates  or  underlying  assumptions  prove  incorrect,
      actual  conditions or results may vary materially and adversely from those
      stated, anticipated, believed, estimated, and otherwise indicated.


LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

      Net  proceeds  from the  Program's  operations  less  necessary  operating
      capital  are  distributed  to  investors  on a  quarterly  basis.  The net
      proceeds from production are not reinvested in productive  assets,  except
      to the extent  that  producing  wells are  improved  or where  methods are
      employed to permit more efficient recovery of the Program's reserves which
      would result in a positive economic impact.




                                      -7-
<PAGE>




      The Program's  available capital from  subscriptions has been spent on oil
      and gas  drilling  activities.  There  should not be any further  material
      capital resource commitments in the future.  Management believes that cash
      for ordinary  operational purposes will be provided by current oil and gas
      production.


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

      GENERAL DISCUSSION

      The following  general  discussion  should be read in conjunction with the
      analysis  of results of  operations  provided  below.  The most  important
      variables affecting the Program's revenues are the prices received for the
      sale of oil and gas and the volumes of oil and gas produced. The Program's
      production is mainly natural gas, so such pricing and volumes are the most
      significant factors.

      Due to the volatility of oil and gas prices,  forecasting future prices is
      subject to great  uncertainty  and  inaccuracy.  Substantially  all of the
      Program's gas reserves are being sold on the "spot market".  Prices on the
      spot market are subject to wide seasonal and regional pricing fluctuations
      due to the highly competitive nature of the spot market.  Such spot market
      sales are  generally  short-term  in  nature  and are  dependent  upon the
      obtaining of transportation services provided by pipelines. It is likewise
      difficult  to  predict  production  volumes.  However,  oil  and  gas  are
      depleting  assets,  so it can be  expected  that  production  levels  will
      decline over time. Recent gas prices have been  significantly  higher than
      the  Program's  historical  average.  This is  attributable  to the higher
      prices for crude oil,  a  substitute  fuel in some  markets,  and  reduced
      production due to lower capital investments in 1998 and 1999.




                                      -8-
<PAGE>




      THREE MONTHS ENDED MARCH 31, 2001 COMPARED TO THE THREE MONTHS ENDED MARCH
      31, 2000.

                                                 Three Months Ended March 31,
                                                 ----------------------------
                                                     2001           2000
                                                   --------       --------
      Oil and gas sales                            $211,311       $115,731
      Oil and gas production expenses              $ 23,933       $ 27,218
      Barrels produced                                  147            210
      Mcf produced                                   27,997         44,447
      Average price/Bbl                            $  28.05       $  26.90
      Average price/Mcf                            $   7.40       $   2.48

      As shown in the table  above,  total oil and gas sales  increased  $95,580
      (82.6%) for the three months ended March 31, 2001 as compared to the three
      months ended March 31, 2000. Of this increase,  approximately $138,000 was
      related to an increase in the average price of gas sold. This increase was
      partially  offset by a  decrease  of  approximately  $41,000  related to a
      decrease in volumes of gas sold.  Volumes of oil and gas sold decreased 63
      barrels and 16,450 Mcf, respectively, for the three months ended March 31,
      2001 as compared to the three months ended March 31, 2000. The decrease in
      volumes  of gas sold was  primarily  due to (i) the  receipt  of a reduced
      percentage  of sales on two wells  during the three months ended March 31,
      2001 due to gas balancing,  (ii) the receipt of an increased percentage of
      sales on two wells during the three months ended March 30, 2000 due to gas
      balancing,  and (iii) normal  declines in production.  Average oil and gas
      prices increased to $28.05 per barrel and $7.40 per Mcf, respectively, for
      the three months ended March 31, 2001 from $26.90 per barrel and $2.48 per
      Mcf, respectively, for the three months ended March 31, 2000.

      Oil and gas production  expenses  (including lease operating  expenses and
      production  taxes)  decreased  $3,285  (12.1%) for the three  months ended
      March 31, 2001 as compared to the three months ended March 31, 2000.  This
      decrease was primarily due to (i) a decrease in lease  operating  expenses
      associated  with  the  decreases  in  volumes  of oil and gas  sold,  (ii)
      workover expenses incurred on one well during the three months ended March
      31, 2000,  and (iii) an ad valorem tax credit  received on one well during
      the three months  ended March 31, 2001.  These  decreases  were  partially
      offset by an increase in production  taxes associated with the increase in
      oil and gas sales.  As a percentage of oil and gas sales,  these  expenses
      decreased  to 11.3% for the three  months  ended March 31, 2001 from 23.5%
      for the three months ended March 31, 2000.  This  percentage  decrease was
      primarily due to the increases in the average prices of oil and gas sold.



                                      -9-
<PAGE>




      Depreciation,  depletion,  and  amortization  of oil  and  gas  properties
      decreased  $1,650  (14.0%)  for the three  months  ended March 31, 2001 as
      compared to the three  months  ended March 31,  2000.  This  decrease  was
      primarily due to (i) an increase in the gas price used in the valuation of
      reserves  at March 31,  2001 as  compared  to March 31,  2000 and (ii) the
      decreases in volumes of oil and gas sold.  These  decreases were partially
      offset by an increase in depreciation,  depletion, and amortization due to
      the  increases in the average  prices of oil and gas sold. As a percentage
      of oil and gas sales,  this expense decreased to 4.8% for the three months
      ended March 31, 2001 from 10.2% for the three months ended March 31, 2000.
      This  percentage  decrease  was  primarily  due to the dollar  decrease in
      depreciation, depletion, and amortization.

      General and administrative  expenses increased $1,572 (7.6%) for the three
      months  ended March 31, 2001 as compared to the three  months  ended March
      31, 2000. As a percentage of oil and gas sales,  these expenses  decreased
      to 10.5% for the three  months  ended  March 31,  2001 from  17.8% for the
      three months ended March 31, 2000. This percentage  decrease was primarily
      due to the increase in oil and gas sales.





                                      -10-
<PAGE>



ITEM 3.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
            RISK.

            The Program does not hold any market risk sensitive instruments.




                                      -11-
<PAGE>



                          PART II. OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)   Exhibits

            None.

(b)   Reports on Form 8-K.

            None.





                                      -12-
<PAGE>



                                   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.


                              DYCO OIL AND GAS PROGRAM 1984-1 LIMITED
                              PARTNERSHIP

                                    (Registrant)

                                    BY:   DYCO PETROLEUM CORPORATION

                                          General Partner


Date:  May 7, 2001                  By:         /s/Dennis R. Neill
                                       -------------------------------
                                              (Signature)
                                              Dennis R. Neill
                                              President


Date:  May 7, 2001                  By:         /s/Patrick M. Hall
                                       -------------------------------
                                              (Signature)
                                              Patrick M. Hall
                                              Chief Financial Officer


                                      -13-