<PAGE>

                               FORM 10-K

                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

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

For the fiscal year ended December 31, 1995

Commission File Number 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 of         (I.R.S. Employer
incorporation or organization)       Identification Number)

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

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

Securities registered pursuant to Section 12(b) of the Act:  None.

Securities registered pursuant to Section 12(g) of the Act:  
     Units of limited partnership interest

     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 the 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.  
Yes   X        No        (Disclosure is contained herein)
    -----       -----

     The  units  of  limited  partnership  are  not  publicly  traded,
therefore, registrant cannot compute the aggregate market value of the
voting units held by non-affiliates of the registrant.

     DOCUMENTS INCORPORATED BY REFERENCE:  None.
<PAGE>
<PAGE>
                               FORM 10-K

                    DYCO OIL AND GAS PROGRAM 1984-1
                   (a Minnesota limited partnership)


                           TABLE OF CONTENTS



PART I  . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    1
     ITEM 1.   BUSINESS . . . . . . . . . . . . . . . . . . . . .    1
     ITEM 2.   PROPERTIES . . . . . . . . . . . . . . . . . . . .    5
     ITEM 3.   LEGAL PROCEEDINGS  . . . . . . . . . . . . . . . .    9
     ITEM 4.   SUBMISSION  OF  MATTERS  TO  A  VOTE  OF   LIMITED
               PARTNERS . . . . . . . . . . . . . . . . . . . . .   11

PART II . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   11
     ITEM 5.   MARKET  FOR  THE REGISTRANT'S  LIMITED PARTNERSHIP
               UNITS AND RELATED LIMITED PARTNER MATTERS  . . . .   11
     ITEM 6.   SELECTED FINANCIAL DATA  . . . . . . . . . . . . .   13
     ITEM 7.   MANAGEMENT'S DISCUSSION AND ANALYSIS  OF FINANCIAL
               CONDITION AND RESULTS OF OPERATIONS  . . . . . . .   14
     ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA  . . .   18
     ITEM 9.   CHANGES IN AND  DISAGREEMENTS WITH ACCOUNTANTS  ON
               ACCOUNTING AND FINANCIAL DISCLOSURE  . . . . . . .   31

PART III  . . . . . . . . . . . . . . . . . . . . . . . . . . . .   31
     ITEM 10.  DIRECTORS   AND   EXECUTIVE   OFFICERS    OF   THE
               REGISTRANT . . . . . . . . . . . . . . . . . . . .   31
     ITEM 11.  EXECUTIVE COMPENSATION . . . . . . . . . . . . . .   33
     ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
               OWNERS AND MANAGEMENT  . . . . . . . . . . . . . .   37
     ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS . .   37

PART IV . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   39
     ITEM 14.  EXHIBITS,   FINANCIAL  STATEMENT   SCHEDULES,  AND
               REPORTS ON FORM 8-K  . . . . . . . . . . . . . . .   39
     SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . .   41

                                  ii
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                                PART I


ITEM 1.   BUSINESS

     General

     The Dyco  Oil and  Gas Program  1984-1  Limited Partnership  (the
"Program")  is   a  Minnesota  limited  partnership   engaged  in  the
production  of oil  and  gas.   The  Program commenced  operations  on
July 31, 1984  with the primary  financial objective of  investing its
limited partners'  subscriptions  in  the  drilling  of  oil  and  gas
prospects and then  distributing to its limited partners all available
cash flow  from the  Program's on-going  production operations.   Dyco
Petroleum  Corporation ("Dyco") serves  as the General  Partner of the
Program.  See "Item 2. Properties" for  a description of the Program's
reserves and properties.

     The limited  partnership agreement for the  Program provides that
limited partners are allocated  99% of all Program costs  and revenues
and that  Dyco, as  General Partner,  is allocated  1% of  all Program
costs  and  revenues.    Included  in  such  costs  is  the  Program's
reimbursement to Dyco  of the Program's proportionate  share of Dyco's
geological, engineering, and general and administrative expenses.

     Dyco  serves  as  General  Partner of  34  limited  partnerships,
including  the Program.  Dyco  is a wholly-owned  subsidiary of Samson
Natural  Gas  Company, which  is a  wholly-owned subsidiary  of Samson
Investment  Company.    Samson  Investment  Company  and  its  various
corporate subsidiaries,  including  Dyco, (collectively,  the  "Samson
Companies")  are  engaged in  the  production and  development  of and
exploration for oil and gas reserves and the acquisition and operation
of producing properties.  At  December 31, 1995, the Samson  Companies
owned interests in approximately  18,000 oil and gas wells  located in
19 states  of the  U.S. and  3 provinces of  Canada.   At December 31,
1995, the  Samson Companies operated  approximately 3,100 oil  and gas
wells  located in  15  states  of the  U.S.,  2  provinces of  Canada,
Venezuela, and Russia.

     As a limited partnership, the Program has no officers, directors,
or employees.   It  relies instead  on the personnel  of Dyco  and the
other  Samson Companies.  As of February 1, 1996, the Samson Companies
employed  approximately  830 persons.    No employees  are  covered by
collective  bargaining agreements,  and management  believes that  the
Samson Companies provide a sound  employee relations environment.  For
information  regarding  the  executive  officers of  Dyco,  see  "Item
10. Directors and Executive Officers of the Registrant."


                                   1
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     Dyco's and the Program's  principal place of business  is located
at  Samson Plaza, Two West  Second Street, Tulsa,  Oklahoma 74103, and
their telephone number is (918) 583-1791 or (800) 535-1791.


     Funding

     Although the Program's partnership agreement permits the  Program
to  incur  borrowings,  the  Program's  operations  and  expenses  are
currently funded out of the Program's revenues from oil and gas sales.
Dyco may, but is not required to, advance funds to the Program for the
same purposes for which Program borrowings are authorized.


     Principal Products Produced and Services Rendered

     The Program's  sole business is the development and production of
oil and natural gas with a concentration on natural gas.   The Program
does not hold any patents, trademarks, licenses, or concessions and is
not a party  to any government contracts.  The  Program has no backlog
of orders  and  does  not  participate  in  research  and  development
activities.  The  Program is not  presently encountering shortages  of
oil-field tubular  goods, compressors,  production material,  or other
equipment.


     Oil, Gas, and Environmental Control Regulations

     Regulation of Production Operations -- The production of  oil and
gas is subject  to extensive  federal and state  laws and  regulations
governing a  wide  variety  of matters,  including  the  drilling  and
spacing of wells,  allowable rates of production,  prevention of waste
and pollution, and protection of the environment.   In addition to the
direct costs borne in complying with such regulations, operations  and
revenues  may be impacted to the extent that certain regulations limit
oil and gas production to below economic levels.  

     Regulation  of Sales and Transportation of Oil and Natural Gas --
Sales of  crude oil and condensate  are made by the  Program at market
prices and are not subject to price controls.  The sale of natural gas
may  be  subject  to both  federal  and  state  laws and  regulations,
including,  but  not limited  to, the  Natural  Gas Act  of  1938 (the
"NGA"),  the  Natural  Gas  Policy  Act  of  1978  (the  "NGPA"),  and
regulations promulgated  by the  Federal Energy  Regulatory Commission
(the  "FERC")  under the  NGA,  the NGPA,  and  other  statutes.   The
provisions of  the  NGA  and the  NGPA,  as well  as  the  regulations
thereunder, are complex and affect all who produce, resell, transport,
or  purchase natural gas,  including the Program.   Although virtually
all of the Program's gas production is not subject to price


                                   2
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<PAGE>
regulation,   the  NGA,   NGPA,  and   FERC  regulations   affect  the
availability of  gas transportation services  and the  ability of  gas
consumers  to continue  to  purchase or  use  gas at  current  levels.
Accordingly, such  regulations  may  have a  material  effect  on  the
Program's operations and projections of  future oil and gas production
and revenues.

     Future  Legislation  -- Legislation  affecting  the  oil and  gas
industry is under constant review for amendment or expansion.  Because
such  laws and  regulations are  frequently amended  or reinterpreted,
management is unable to predict what additional energy legislation may
be proposed or enacted or the future cost and impact of complying with
existing or future regulations.

     Regulation  of the  Environment --  The Program's  operations are
subject to numerous  laws and regulations  governing the discharge  of
materials into the environment  or otherwise relating to environmental
protection.  Compliance with such  laws and regulations, together with
any penalties resulting from noncompliance therewith, may increase the
cost of the Program's  operations or may affect the  Program's ability
to complete,  in  a timely  fashion,  existing or  future  activities.
Management  anticipates   that  various  local,   state,  and  federal
environmental control agencies  will have an increasing  impact on oil
and gas operations.  

     Significant Customers

     Purchases of gas by Premier Gas Company ("Premier") accounted for
approximately 82.1% of the  Program's oil and gas revenues  during the
year ended  December 31, 1995.  Premier was an affiliate of Dyco until
December  6, 1995.   See  "Item 11. Executive  Compensation."   In the
event of interruption of purchases by this significant customer or the
cessation   or  material   change  in   availability   of  open-access
transportation by the Program's pipeline transporters, the Program may
encounter difficulty  in marketing its gas and in maintaining historic
sales  levels.   Alternative  purchasers or  transporters  may not  be
readily available.  

     The Program's  principal customers  for crude oil  production are
refiners  and other companies which  have pipeline facilities near the
producing properties of the Program.  In the event pipeline facilities
are not  conveniently  available to  production  areas, crude  oil  is
usually trucked by purchasers to storage facilities. 

                                   3
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<PAGE>
     Competition and Marketing

     The  oil and  gas industry  is highly  competitive, with  a large
number of  companies and  individuals engaged  in the exploration  and
development of oil and gas properties.   The ability of the Program to
produce  and market  oil  and gas  profitably depends  on a  number of
factors  that are beyond  the control of  the Program.   These factors
include worldwide  political instability (especially  in oil-producing
regions), the  supply and price of foreign imports of oil and gas, the
level  of  consumer product  demand  (which is  heavily  influenced by
weather  patterns), government  regulations and  taxes, the  price and
availability of alternative fuels,  the overall economic  environment,
and  the availability  and capacity  of transportation  and processing
facilities.    The  effect  of  these  factors  cannot  be  accurately
predicted or anticipated.

     As a  general rule,  in recent  years,  worldwide oil  production
capacity  and gas production capacity  in certain areas  of the United
States exceeded  demand and resulted in a decline in the average price
of oil and gas in  the United States.   During the later part of  1994
and  1995, however, average oil prices in the United States increased.
Oil prices increased  from approximately $16.50  per barrel at  Decem-
ber 31, 1994 to approximately $18.50  per barrel at December 31, 1995.
Management  is  unable  to  predict  whether  future oil  prices  will
(i) stabilize, (ii) increase, or (iii) decrease.

     Gas  sales contract prices  have generally declined significantly
since the mid-1980s due to a number of factors, including a nationwide
surplus  of gas and increased competition.   Competition has increased
among United  States gas marketers due to the gas surplus, the partial
deregulation  of gas prices, the conversion by major pipelines to open
access transportation, and  the lack of strong  residential demand for
natural  gas during  the winter  months for  the last  few years  as a
result of  warm winters in much  of the United States.   However, spot
gas  prices in the areas where the Program's gas is marketed increased
during the later part of 1995 compared to prices received in the later
part of 1994 and the first several months of 1995.  

     Substantially all of the Program's natural gas reserves are being
sold in  the "spot market."   Due to the highly  competitive nature of
the  spot market,  prices  on  the spot  market  are subject  to  wide
seasonal  and regional pricing  fluctuations.  In  addition, such spot
market sales are generally short-term in nature and are dependent upon
the obtaining of transportation services provided by pipelines.  

                                   4
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     The Program's spot gas  prices increased from approximately $1.67
per  Mcf  at  December 31, 1994  to  approximately  $2.00  per Mcf  at
December 31, 1995.  Such prices were on an MMBTU basis and differ from
the  prices actually received by the Program due to transportation and
marketing  costs,  BTU adjustments,  and  regional  price and  quality
differences.  Future prices will likely be different from  (and may be
lower  than) the prices in effect on  December 31, 1995.  In many past
years,  year-end prices  have tended to  be higher, and  in some cases
significantly higher, than the  yearly average price actually received
by the Program for at least  the year following the year-end valuation
date.  Management is unable to predict whether  future gas prices will
(i) stabilize, (ii) increase, or (iii) decrease.    


     Insurance Coverage 

     The  Program is  subject  to all  of  the risks  inherent in  the
exploration for  and production  of oil  and gas,  including blowouts,
pollution,  fires,  and  other  casualties.    The  Program  maintains
insurance  coverage as  is customary  for entities  of a  similar size
engaged in operations  similar to that of the Program,  but losses can
occur  from  uninsurable risks  or in  amounts  in excess  of existing
insurance coverage.   The occurrence of  an event which  is not  fully
covered  by  insurance could  have a  material  adverse effect  on the
Program's financial position and results of operations.  


ITEM 2.   PROPERTIES

     Well Statistics

     The  following  table sets  forth the  numbers  of gross  and net
productive wells of the Program as of December 31, 1995.

                          Well Statistics(1)

                        As of December 31, 1995

              Gross productive wells(2):
                Oil                              1
                Gas                             20
                                                --
                  Total                         21

              Net productive wells(3):
                Oil                            .15
                Gas                           1.49
                                              ----
                  Total                       1.64

----------
                                   5
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(1)  The designation of a well as an  oil well or gas well is made  by
     Dyco based on the relative amount of oil and gas reserves for the
     well.   Regardless  of a  well's oil  or gas designation,  it may
     produce oil, gas, or both oil and gas.
(2)  As used throughout this  Annual Report, "Gross Well" refers  to a
     well in which a working  interest is owned.  The number  of gross
     wells is the total number of wells in which a working interest is
     owned.
(3)  As used throughout this  Annual Report, "Net Well" refers  to the
     sum  of  the fractional  working interests  owned in  gross wells
     expressed as whole numbers and fractions thereof.  For example, a
     15% leasehold interest in  a well represents one Gross  Well, but
     0.15 Net Well.


     Drilling Activities

     The Program participated  in no drilling activities  for the year
ended December 31, 1995.  


     Oil and Gas Production, Revenue, and Price History 

     The following  table sets  forth  certain historical  information
concerning the oil (including condensates) and natural gas production,
net of  all royalties,  overriding royalties,  and  other third  party
interests, of  the Program, revenues attributable  to such production,
and certain price and cost information.  


                          Net Production Data

                                        Year Ended December 31,
                                     ----------------------------
                                       1995      1994      1993
                                     --------  --------  --------
Production:
  Oil (Bbls)(1)                         2,240     2,875     2,190
  Gas (Mcf)(2)                        314,451   291,018   335,112

Oil and gas sales:
  Oil                                $ 39,141  $ 46,596  $ 38,841
  Gas                                 462,112   470,383   660,979
                                      -------   -------   -------
    Total                            $501,253  $516,979  $699,820
                                      =======   =======   =======

Total direct operating expenses      $122,339  $136,044  $124,847
                                      =======   =======   =======

                                   6
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Direct operating expenses as a
  percentage of oil and gas
  sales                                 24.4%     26.3%     17.8%

Average sales price:
  Per barrel of oil                    $17.47    $16.21    $17.74
  Per Mcf of gas                         1.47      1.62      1.97

Direct operating expenses per 
  equivalent Mcf of gas(3)             $  .37    $  .44    $  .36

----------

(1)  As used throughout  this Annual Report, "Bbls"  refers to barrels
     of  42 U.S. gallons and  represents the basic  unit for measuring
     the production of crude oil and condensate oil.
(2)  As  used throughout this Annual Report, "Mcf" refers to volume of
     1,000  cubic feet  under  prescribed conditions  of pressure  and
     temperature  and  represents the  basic  unit  for measuring  the
     production of natural gas.
(3)  Oil production is converted to gas equivalents at the rate of six
     Mcf  per  barrel,  representing  the  estimated  relative  energy
     content  of gas and oil, which rate is not necessarily indicative
     of the relationship of oil and gas prices.  The respective prices
     of  oil and  gas are  affected  by market  and  other factors  in
     addition to relative energy content.


     Proved Reserves and Net Present Value

     The following table sets forth the Program's estimated proved oil
and  gas reserves and net  present value therefrom  as of December 31,
1995.  The schedule of  quantities of proved oil and gas  reserves was
prepared  by Dyco  in  accordance with  the  rules prescribed  by  the
Securities and  Exchange Commission (the  "SEC").  As  used throughout
this  Annual  Report,  "proved  reserves" refers  to  those  estimated
quantities  of crude oil, natural  gas, and natural  gas liquids which
geological  and engineering data demonstrate with reasonable certainty
to be  recoverable in future  years from known oil  and gas reservoirs
under existing economic and operating conditions.

     Net  present value  represents estimated  future gross  cash flow
from the production and sale of  proved reserves, net of estimated oil
and  gas  production costs  (including  production  taxes, ad  valorem
taxes, and operating expenses), and estimated future development costs
discounted  at 10% per annum.   Net present  value attributable to the
Program's proved reserves was calculated on the basis of current costs
and  prices  at December 31,  1995.   Such  prices were  not escalated
except  in  certain circumstances  where  escalations  were fixed  and
readily   determinable   in   accordance  with   applicable   contract
provisions.  The prices used by Dyco in calculating the net present

                                   7
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value attributable to the Program's proved reserves do not necessarily
reflect  market  prices  for  oil  and  gas  production subsequent  to
December 31,  1995.  Furthermore, gas prices at December 31, 1995 were
higher than the price  used for determining the Program's  net present
value of proved reserves for the year  ended December 31, 1994.  There
can  be no  assurance  that the  prices  used in  calculating the  net
present value of  the Program's proved  reserves at December 31,  1995
will actually be realized for such production.

     The  process  of  estimating oil  and  gas  reserves is  complex,
requiring  significant  subjective  decisions  in  the  evaluation  of
available  geological,  engineering,  and   economic  data  for   each
reservoir.   The data for  a given reservoir  may change substantially
over time as a  result of, among other things,  additional development
activity,  production  history,  and  viability  of  production  under
varying economic  conditions; consequently, it is  reasonably possible
that material revisions to existing reserve estimates may occur in the
near future.  Although every reasonable effort has been made to ensure
that the reserve estimates reported herein represent the most accurate
assessment possible,  the  significance of  the  subjective  decisions
required and variances  in available data for various  reservoirs make
these estimates generally less  precise than other estimates presented
in connection with financial statement disclosures. 


                          Proved Reserves and
                           Net Present Value
                         From Proved Reserves

                        As of December 31, 1995

         Estimated proved reserves:
           Natural gas (Mcf)                     960,735
           Oil and liquids (Bbls)                  5,686

         Net present value
           (discounted at 10% per annum)      $1,137,911


     No  estimates of the proved reserves of the Program comparable to
those included herein  have been  included in reports  to any  federal
agency other than  the SEC.   Additional information  relating to  the
Program's proved  reserves is  contained  in Note 5  to the  Program's
financial statements, included in Item 8 of this Annual Report. 

                                   8
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     Significant Properties 

     As of December 31, 1995, the Program's properties consisted of 21
gross (1.64 net) productive wells in which the Program owned a working
interest.  The Program owned a non-working interest in an additional 2
gross wells.  As of December 31, 1995, the Program's  net interests in
its  properties  resulted  in   estimated  total  proved  reserves  of
960,735 Mcf  of natural  gas and 5,686  barrels of oil  with a present
value (discounted at 10%  per annum) of estimated future net cash flow
of  $1,137,911.   Affiliates of  the Program  operate 8  (35%) of  the
Program's total wells.  All  of the Program's reserves are located  in
the  Anadarko Basin of western Oklahoma and the Texas panhandle, which
is an established oil and gas producing basin.  


     Title to Oil and Gas Properties

     Management believes  that the  Program has satisfactory  title to
its oil and gas properties.  Record title to substantially  all of the
Program's properties is held by Dyco as nominee.

     Title  to  the  Program's  properties  is  subject  to  customary
royalty,  overriding  royalty,  carried, working,  and  other  similar
interests  and contractual arrangements  customary in the  oil and gas
industry,  to  liens for  current  taxes  not yet  due,  and to  other
encumbrances.  Management believes that such burdens do not materially
detract  from the  value  of such  properties  or from  the  Program's
interest  therein  or  materially  interfere  with their  use  in  the
operation of the Program's business.  


ITEM 3.   LEGAL PROCEEDINGS 

     On October 15, 1993, certain royalty owners filed a class  action
lawsuit  against Dyco in which the plaintiffs alleged entitlement to a
share of proceeds  of a  take-or-pay settlement with  a gas  purchaser
which involved the Marshall Young No. 2-4  well (Tom Mikles, et al. v.
Dyco Petroleum  Corporation,  Case  No. C-93-190,  District  Court  of
Beckham  County,  Oklahoma).   The  Program  had  an approximate  3.7%
working interest in the  Marshall Young No. 2-4  well at the time  the
lawsuit was  filed.  The lawsuit  also alleges claims  based on unjust
enrichment, breach  of contract,  and breach of  fiduciary obligations
and  seeks an accounting and declaration that the plaintiffs are third
party beneficiaries under the  gas contract.  The plaintiffs  have not
quantified the amount of their damages, but they are seeking exemplary
damages, unpaid royalties, and interest.  Dyco has filed its answer in
the matter in which it denied all of the plaintiffs' allegations.  The
district court certified  the matter as a class action  on January 21,
1994 and discovery is proceeding in the matter.  On November 29, 1994,
the  plaintiffs filed  a motion  for summary  judgment in  the matter.
Oral arguments were heard on the motion in January 1995, however, as

                                   9
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of the date of this Annual Report, the district court has not ruled on
the motion.  Dyco intends to vigorously defend the lawsuit.  As of the
date  of this Annual Report, Management cannot determine the amount of
any alleged damages which would be  allocable to the Program from this
lawsuit.

     On October 26, 1993, certain royalty owners filed a class  action
lawsuit  against Dyco in which the plaintiffs alleged entitlement to a
share of proceeds  of a  take-or-pay settlement with  a gas  purchaser
which involved the  Kinney Warren  No. 3-10 well  and Fender  No. 4-10
well  (Gene Mikles,  et  al. v. Dyco  Petroleum  Corporation, et  al.,
District  Court  of Beckham  County, Oklahoma).    The Program  had an
approximate 6.8% working interest  in each of these wells  at the time
the lawsuit  was filed.   The  lawsuit also  alleges  claims based  on
unjust  enrichment,  breach  of  contract,  and  breach  of  fiduciary
obligations  and   seeks  an  accounting  and   declaration  that  the
plaintiffs  are third party beneficiaries under the gas contract.  The
plaintiffs have not quantified  the amount of their damages,  but they
are seeking exemplary damages,  unpaid royalties, and interest.   Dyco
has  filed its  answer in  the matter  in which  it denied all  of the
plaintiffs' allegations.  The district court certified the matter as a
class  action on January  18, 1994 and discovery  is proceeding in the
matter.   On November  29,  1994, the  plaintiffs filed  a motion  for
summary  judgment in  the matter.   Oral arguments  were heard  on the
motion in January 1995, however, as of the date of this Annual Report,
the  district court  has not  ruled on  the motion.   Dyco  intends to
vigorously defend  the lawsuit.  As of the date of this Annual Report,
Management cannot determine  the amount of  any alleged damages  which
would be allocable to the Program from this lawsuit.

     On December 18, 1992,  a royalty owner filed a quiet title action
alleging that the  operator of certain wells in which  the Program has
an interest failed  to exercise  due diligence in  locating the  owner
while in the  process of force  pooling the drilling and  spacing unit
(Merle McCollum,  as Personal  Representative of  the  Estate of  Jack
McCollum, Deceased  v. Apache Corporation,  et al., District  Court of
Beckham County, Oklahoma).  The wells in question in which the Program
owns  a working interest include the Kinney-Warren No. 3-10 and Fender
No. 4-10.   The Program  had an approximate  6.8% working  interest in
these wells  at the time the  lawsuit was filed.   Plaintiff claimed a
right to revenues  attributable to  production from said  wells in  an
amount  in  excess  of  $500,000 and  further  alleged  conversion and
claimed a right  to "interest" on the proceeds from  production on the
wells  pursuant to  52 O.S.  Section   540.   The  defendants filed  a
counterclaim for quiet title  and asserted various defenses.   A trial
was  held in the matter on  March 3 and 4, 1994  in which the district
court ruled  against all defendants  and specifically  found that  the
operator,  Apache Corporation, did  not exercise due  diligence in the
pooling proceedings.  Judgment was entered on June 15, 1994 in the

                                  10
<PAGE>
<PAGE>
amount  of  $550,000 plus  interest.   See  Note  4  to the  Program's
financial  statements included in Item  8 of this  Annual Report.  The
defendants have appealed  the district court's ruling to  the Oklahoma
Supreme Court, which appeal is currently pending; however, it has been
assigned  to the Oklahoma Court  of Appeals (Case  No. 83,892, Supreme
Court of the State of Oklahoma, filed July 12, 1994 (consolidated with
Case No. 84-188, Supreme Court of the State of Oklahoma, filed  August
22,  1994)).  Oral  arguments in the  case were heard by  the Court of
Appeals on January 25, 1996.  

     Except for the foregoing,  to the knowledge of the  management of
Dyco and the  Program, neither  Dyco, the Program,  nor the  Program's
properties are subject to  any litigation, the results of  which would
have  a material effect on the Program's or Dyco's financial condition
or operations. 


ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF LIMITED PARTNERS

     There were no matters submitted to a vote of the limited partners
during 1995.


                                PART II

ITEM 5.   MARKET FOR  THE REGISTRANT'S  LIMITED PARTNERSHIP UNITS  AND
          RELATED LIMITED PARTNER MATTERS

     The Program does not  have an established trading market  for its
units  of limited  partnership interest  ("Units").   Pursuant  to the
terms of the Program's limited partnership agreement, Dyco, as General
Partner,  is obligated to annually  offer a repurchase  offer which is
based on the estimated future net revenues from the Program's reserves
and is calculated  pursuant to  the terms of  the limited  partnership
agreement.   Such repurchase offer is recalculated monthly in order to
reflect  cash distributions  made to  the limited  partners and  other
extraordinary events.  The following table sets forth, for the periods
indicated,  Dyco's repurchase  offer per  Unit and  the amount  of the
Program's  cash distributions  per  Unit for  the  same period.    For
purposes  of  this   Annual  Report,  a  Unit  represents  an  initial
subscription of $5,000 to the Program. 

                                  11
<PAGE>
<PAGE>
                              Repurchase      Cash
                                 Price    Distributions
                              ----------  -------------
        1994:
          First Quarter          $180          $ -
          Second Quarter          183           35
          Third Quarter           183            -
          Fourth Quarter          158           25

        1995:
          First Quarter          $158            -
          Second Quarter          159            -
          Third Quarter           134           25
          Fourth Quarter          134            -

        1996:
          First Quarter          $134          (1)

----------

(1)  To be declared in March 1996.


     The Program  has 5,555 Units outstanding  and approximately 2,304
limited partners of record.
                                  12
<PAGE>
<PAGE>
ITEM 6.   SELECTED FINANCIAL DATA
<TABLE>
<CAPTION>
                                    Selected Financial Data

     The following table presents selected financial data for the Program.  This data should be
read in  conjunction with  the financial statements  of the  Program, and the  respective notes
thereto,  included elsewhere  in this  Annual Report.   See  "Item 8. Financial  Statements and
Supplementary Data."  


                                                         December 31,
                                    ------------------------------------------------------
                                      1995      1994      1993       1992         1991
                                    --------  --------  --------  ----------  ------------
<S>                                 <C>       <C>       <C>       <C>          <C>                 
Summary of Operations:
  Oil and gas sales                 $501,253  $516,979  $699,820  $  710,705   $  856,789
  Total revenues                     508,551   522,106   704,650     716,257      869,682

  Lease operating expenses            86,764    97,316    73,570      53,736      108,632
  Production taxes                    35,575    38,728    51,277      42,423       69,509
  General and administrative
    expenses                          77,733    72,657    75,611      73,993       59,515
  Depreciation, depletion, and
    amortization of oil and gas
    properties                       113,399   186,298   189,709     204,437      438,971
  Valuation allowance for oil 
    and gas properties                  -         -         -           -         449,528
  Interest expense                      -         -         -           -           5,249

  Net income (loss)                  195,080   127,107   314,483     341,668  (   261,722)
    per Unit                              35        23        57          62  (        47)
  Cash distributions                 138,875   333,300   583,275     305,525      666,600
    per Unit                              25        60       105          55          120

Summary Balance Sheet Data:
  Total assets                       881,809   812,659   976,637   1,251,403    1,336,749
  Partners' capital                  819,959   763,754   969,947   1,238,739    1,202,596
</TABLE>

                                               13
<PAGE>
<PAGE>
ITEM 7.   MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
          AND RESULTS OF OPERATIONS

     Results of Operations

                                General
                                -------

     The following  general discussion  should be read  in conjunction
with  the  analysis  of results  of  operations  provided  below.   In
management's view, it is not possible to predict accurately either the
short-term or  long-term prices for oil or  gas.  Specifically, due to
the  oversupply of  natural  gas  in  recent  years,  certain  of  the
Program's  gas producing  properties  have suffered,  and continue  to
suffer  during  portions  of  the year,  production  curtailments  and
seasonal reductions  in the  prices  paid by  purchasers.   Additional
curtailments and seasonal or  regional price reductions will adversely
affect the operations  and financial  condition of the  Program.   Gas
sales prices,  which have  generally declined significantly  since the
mid-1980s,  increased during the fourth quarter of 1995.  See "Item 1.
Business - Competition and Marketing."   Actual future prices received
by  the Program will likely be different  from (and may be lower than)
the prices in effect on December 31,  1995.  In many past years, year-
end prices have tended  to be higher, and in  some cases significantly
higher, than the yearly average price actually received by the Program
for  at   least  the  year  following  the  year-end  valuation  date.
Management is unable  to predict  whether future gas  prices will  (i)
stabilize,  (ii) increase,  or  (iii) decrease.    The amount  of  the
Program's  cash flow, however, is dependent on such future gas prices.



                 Year Ended December 31, 1995 Compared
                    to Year Ended December 31, 1994
                 -------------------------------------

     Total  oil  and  gas sales  decreased  3.0%  for  the year  ended
December 31, 1995  as compared to  the year  ended December 31,  1994.
This decrease was due  to a decrease in  both the volumes of  oil sold
and the  average price  of natural gas  sold, partially  offset by  an
increase in both the volumes of natural gas sold and the average price
of oil sold.  Volumes of oil sold decreased by 635 barrels and volumes
of  natural gas  sold  increased  by 23,433  Mcf  for  the year  ended
December 31,  1995 as  compared to  the year ended  December 31, 1994.
The decrease  in volumes of oil sold was primarily due to (i) positive
prior  period  volume  adjustments  made  by   the  purchaser  on  one
significant well  during the year  ended December 31,  1994, (ii)  the
normal decline in oil  production due to the natural  deterioration of
the  producing capabilities of the Program's wells, and (iii) the sale
of one significant  well during the latter part of  1994.  Average oil
prices  increased to $17.47 per barrel for the year ended December 31,
1995 from $16.21 per barrel for the year ended December 31, 1994. 

                                  14
<PAGE>
<PAGE>
Natural gas  prices decreased to an  average of $1.47 per  Mcf for the
year ended December 31, 1995 from an  average of $1.62 per Mcf for the
year ended December 31, 1994. 

     Oil  and  gas  production  expenses  (including  lease  operating
expenses  and production taxes)  decreased $13,705 for  the year ended
December 31,  1995 as  compared to the  year ended  December 31, 1994.
This decrease was  primarily due  to lower oil  production during  the
year  ended December  31,  1995 and  a  litigation accrual  recognized
during the year ended December 31, 1994, partially offset by workovers
on two wells during the year ended December 31, 1995.  As a percentage
of oil and gas sales,  these expenses decreased to 24.4% for  the year
ended December 31,  1995 from  26.3% for  the year ended  December 31,
1994 due  to the  dollar decrease in  oil and gas  production expenses
discussed above.  

     Depreciation,  depletion,  and   amortization  of  oil   and  gas
properties decreased by  $72,899 for the year  ended December 31, 1995
as compared  to the year ended  December 31, 1994.   This decrease was
primarily a result of  a significant increase in  the estimate of  the
Program's remaining natural gas reserves during 1995.  As a percentage
of oil and  gas sales, this  expense decreased to  22.6% for the  year
ended December 31,  1995 from  36.0% for  the year  ended December 31,
1994.   This  percentage  decrease was  primarily  due to  the  dollar
decrease   in  depreciation,   depletion,  and   amortization  expense
discussed above. 

     General and  administrative expenses increased by  $5,076 for the
year  ended   December 31,  1995  as   compared  to  the   year  ended
December 31,  1994.  This  dollar increase resulted  primarily from an
increase  in both professional fees  and printing and postage expenses
during the year  ended December 31,  1995 as compared  to the  similar
period in 1994.   As a percentage of  oil and gas sales, this  expense
remained relatively constant at 15.5% for the year ended  December 31,
1995 as compared to 14.1% for the year ended December 31, 1994.  

                 Year Ended December 31, 1994 Compared
                    to Year Ended December 31, 1993
                 -------------------------------------

     Total  oil and  gas  sales decreased  26.1%  for the  year  ended
December 31,  1994 as compared  to the  year ended  December 31, 1993.
This decrease was due to a decrease in volumes of natural gas sold and
decreases in the average prices of oil and natural gas sold, partially
offset  by an increase  in volumes of  oil sold.   Volumes of oil sold
increased 685 barrels for the year ended December 31, 1994 as compared
to the year ended December 31, 1993, while volumes of natural gas sold
decreased  44,094 Mcf for the year ended December 31, 1994 as compared
to the similar period in 1993.  The decrease in volumes of natural gas
sold was primarily due to (i) gas volumes being suspended by the

                                  15
<PAGE>
<PAGE>
operator on two wells during the year ended December 31,  1994 because
of the  Program's overproduced gas  imbalance positions on  such wells
and  (ii) the natural  deterioration of the  producing capabilities of
the Program's wells.  Average oil  and natural gas prices decreased to
$16.21 per barrel  and $1.62 per Mcf  for the year ended  December 31,
1994 from averages of $17.74 per barrel and $1.97 per Mcf for the year
ended December 31, 1993.

     Oil  and  gas  production  expenses  (including  lease  operating
expenses  and  production taxes)  increased  9.0% for  the  year ended
December 31, 1994  as compared to  the year  ended December 31,  1993.
This increase  was primarily a result of  an accrual for certain legal
contingencies  in  the   amount  of  $20,000  during  the  year  ended
December 31, 1994, partially offset by  a decrease in production taxes
associated with the decrease in the volumes of natural gas sold.  As a
percentage of oil and gas sales, these expenses increased to 26.3% for
the  year  ended  December 31, 1994  from  17.8%  for  the year  ended
December 31, 1993.  This percentage increase was primarily a result of
the  accrual for legal contingencies,  the decrease in  the volumes of
natural gas sold,  and the decreases in the average  prices of oil and
natural gas sold during the year ended December 31, 1994.

     Depreciation,  depletion,   and  amortization  of  oil   and  gas
properties   decreased  slightly   by  $3,411   for  the   year  ended
December 31,  1994 as  compared to the  year ended  December 31, 1993.
This  dollar  decrease  was primarily  a  result  of  the decrease  in
revenues discussed above, partially offset  by reduced year end prices
for the  remaining natural gas reserves  in 1994.  As  a percentage of
oil and gas sales, this expense  increased to 36.0% for the year ended
December 31, 1994  from 27.1%  for the year  ended December 31,  1993.
This  percentage increase was primarily  a result of  the decreases in
the average prices of oil and natural gas sold.

     General and  administrative expenses decreased by  $2,954 for the
year  ended   December 31,  1994  as   compared  to  the   year  ended
December 31, 1993.  This dollar decrease  was primarily a result of  a
decrease in professional fees during the  year ended December 31, 1994
as compared to the similar period in 1993.  As a percentage of oil and
gas  sales, these  expenses  increased to  14.1%  for the  year  ended
December 31, 1994  from 10.8%  for the  year ended December 31,  1993.
This  percentage increase was primarily  a result of  the decreases in
the average prices of oil  and natural gas sold during the  year ended
December 31, 1994 as compared to the similar period in 1993.

                                  16
<PAGE>
<PAGE>
     Liquidity and Capital Resources 

     Net proceeds from operations less necessary operating capital are
distributed to the  limited partners on a quarterly basis.   See "Item
5. Market for  the Registrant's Limited Partnership  Units and Related
Limited  Partner Matters."  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  reserves,  thereby resulting  in  a  positive
economic  impact.    Assuming production  levels  for  the year  ended
December 31,  1995,  the   Program's  proved  reserve  quantities   at
December 31, 1995 would have a life of approximately 3.1 years for gas
reserves and 2.5 years for oil reserves.

     The  Program's  available  capital  from  the  limited  partners'
subscriptions  has been spent on  oil and gas  drilling activities and
there should  be no further  material capital resource  commitments in
the  future.    The  Program  has  no  debt  commitments.    Cash  for
operational  purposes  will  be  provided  by   current  oil  and  gas
production.

     There can  be  no assurance  as to  the amount  of the  Program's
future  cash  distributions.    The Program's  ability  to  make  cash
distributions depends primarily upon the level of  available cash flow
generated  by  the  Program's  operating  activities,  which  will  be
affected (either  positively or negatively) by many factors beyond the
control of  the Program, including the price of and demand for oil and
natural gas and other market and economic conditions.   Even if prices
and  costs   remain  stable,  the   amount  of   cash  available   for
distributions will decline over time (as the volume of production from
producing  properties declines)  since  the Program  is not  replacing
production through acquisitions of producing properties and drilling.

     The  Program is  involved in certain  litigation, the  outcome of
which  cannot presently be determined.  In the event of an unfavorable
outcome,  the  Program's  liquidity  and capital  resources  could  be
negatively impacted.   See "Item 3. Legal  Proceedings" for a  further
discussion of this litigation.

     Inflation and Changing Prices

     Prices obtained for oil and  gas production depend upon  numerous
factors,  including the  extent  of domestic  and foreign  production,
foreign imports of oil,  market demand, domestic and foreign  economic
conditions in general, and governmental regulations and tax laws.  The
general  level of  inflation in  the economy did  not have  a material
effect on the operations of the Program in 1995.   Oil and natural gas
prices  have fluctuated  during recent  years  and generally  have not
followed the same pattern as inflation.  See "Item 2. Properties - Oil
and Gas Production, Revenue, and Price History."  

                                  17
<PAGE>
<PAGE>
ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA


                   REPORT OF INDEPENDENT ACCOUNTANTS

TO THE PARTNERS

DYCO OIL AND GAS PROGRAM 1984-1 LIMITED PARTNERSHIP

     We have audited the financial statements  of the Dyco Oil and Gas
Program 1984-1 Limited  Partnership (a Minnesota limited  partnership)
as listed in Item 14(a) of this Form 10-K.  These financial statements
are   the   responsibility  of   the   Program's   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 dis-
closures  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,  the  financial statements  referred  to  above
present fairly,  in all material  respects, the financial  position of
the   Dyco  Oil  and   Gas  Program  1984-1   Limited  Partnership  at
December 31, 1995 and 1994, and the results of its operations and cash
flows for  each of the  three years  in the period  ended December 31,
1995, in conformity with generally accepted accounting principles. 


                                   COOPERS & LYBRAND L.L.P.

Tulsa, Oklahoma
February 6, 1996

                                  18
<PAGE>
<PAGE>
                       DYCO OIL AND GAS PROGRAM
                      1984-1 LIMITED PARTNERSHIP
                            Balance Sheets
                      December 31, 1995 and 1994

                                ASSETS
                                ------
                                                 1995      1994
                                               --------  --------
CURRENT ASSETS:
  Cash and cash equivalents                    $233,440  $133,975
  Accrued oil and gas sales, including
    $52,780 and $60,779 due from 
    related parties                              77,337    72,789
                                                -------   -------
    Total current assets                       $310,777  $206,764

NET OIL AND GAS PROPERTIES, utilizing
  the full cost method                          451,379   538,364

DEFERRED CHARGE                                 119,653    67,531
                                                -------   -------
                                               $881,809  $812,659
                                                =======   =======

                   LIABILITIES AND PARTNERS' CAPITAL
                   ---------------------------------

CURRENT LIABILITIES:
  Accounts payable                             $ 25,804  $ 24,683
  Gas imbalance payable                            -        3,751
                                                -------   -------
    Total current liabilities                  $ 25,804  $ 28,434

ACCRUED LIABILITY                                36,046    20,471

CONTINGENCIES (Note 4)

PARTNERS' CAPITAL:
  General Partner, issued and
    outstanding, 55 Units                         8,200     7,637
  Limited Partners, issued and
    outstanding, 5,500 Units                    811,759   756,117
                                                -------   -------
    Total Partners' capital                    $819,959  $763,754
                                                -------   -------

                                               $881,809  $812,659
                                                =======   =======

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

                                  19
<PAGE>
<PAGE>
                       DYCO OIL AND GAS PROGRAM
                      1984-1 LIMITED PARTNERSHIP
                       Statements of Operations
         For the Years Ended December 31, 1995, 1994, and 1993


                                       1995      1994      1993
                                     --------  --------  --------

REVENUES:
  Oil and gas sales, including
    $411,397, $431,620, and 
    $530,205 of sales to related
    parties                          $501,253  $516,979  $699,820
  Interest                              7,298     5,127     4,830
                                      -------   -------   -------

                                     $508,551  $522,106  $704,650

COSTS AND EXPENSES:
  Lease operating                    $ 86,764  $ 97,316  $ 73,570
  Production taxes                     35,575    38,728    51,277
  Depreciation, depletion, and 
    amortization of oil and gas
    properties                        113,399   186,298   189,709
  General and administration           77,733    72,657    75,611
                                      -------   -------   -------

                                     $313,471  $394,999  $390,167
                                      -------   -------   -------

NET INCOME                           $195,080  $127,107  $314,483
                                      =======   =======   =======

GENERAL PARTNER (1%) - NET INCOME    $  1,951  $  1,271  $  3,145
                                      =======   =======   =======

LIMITED PARTNERS (99%) - NET INCOME  $193,129  $125,836  $311,338
                                      =======   =======   =======

NET INCOME per Unit                  $     35  $     23  $     57
                                      =======   =======   =======

UNITS OUTSTANDING                       5,555     5,555     5,555
                                      =======   =======   =======

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

                                  20
<PAGE>
<PAGE>
                       DYCO OIL AND GAS PROGRAM
                      1984-1 LIMITED PARTNERSHIP
                    Statements of Partners' Capital
         For the Years Ended December 31, 1995, 1994, and 1993


                             General      Limited
                             Partner     Partners        Total
                            ---------  ------------  ------------

Balances at Dec. 31, 1992    $12,387    $1,226,352    $1,238,739
  Cash distributions        (  5,833)  (   577,442)  (   583,275)
  Net income                   3,145       311,338       314,483
                              ------     ---------     ---------

Balances at Dec. 31, 1993    $ 9,699    $  960,248    $  969,947
  Cash distributions        (  3,333)  (   329,967)  (   333,300)
  Net income                   1,271       125,836       127,107
                              ------     ---------     ---------

Balances at Dec. 31, 1994    $ 7,637    $  756,117    $  763,754
  Cash distributions        (  1,388)  (   137,487)  (   138,875)
  Net income                   1,951       193,129       195,080
                              ------     ---------     ---------

Balances at Dec. 31, 1995    $ 8,200    $  811,759    $  819,959
                              ======     =========     =========

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

                                  21
<PAGE>
<PAGE>
                       DYCO OIL AND GAS PROGRAM
                      1984-1 LIMITED PARTNERSHIP
                       Statements of Cash Flows
         For the Years Ended December 31, 1995, 1994, and 1993

                                         1995       1994       1993
                                      ---------- ---------- ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                           $195,080   $127,107   $314,483
  Adjustments to reconcile net income
    to net cash provided by operating
    activities:
  Depreciation, depletion, and amorti-
    zation of oil and gas properties    113,399    186,298    189,709
  (Increase) decrease in accrued oil
    and gas sales                     (   4,548)    36,556     20,753
  Increase in deferred charge         (  52,122) (   7,453) (   9,120)
  Increase (decrease) in accounts
    payable                               1,121     17,993  (   5,974)
  Increase (decrease) in gas
    imbalance payable                 (   3,751)     3,751       -
  Increase in accrued liability          15,575     20,471       -
                                        -------    -------    -------
  Net cash provided by operating
    activities                         $264,754   $384,723   $509,851
                                        -------    -------    -------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Additions to oil and gas 
    properties                        ($ 32,476) ($ 22,217) ($     74)
  Retirements of oil and gas 
    properties                            6,062        871      2,246
                                        -------    -------    -------
  Net cash provided (used) by 
    investing activities              ($ 26,414) ($ 21,346)  $  2,172
                                        -------    -------    -------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Cash Distributions                  ($138,875) ($333,300) ($583,275)
                                        -------    -------    -------
  Net cash used by financing 
    activities                        ($138,875) ($333,300) ($583,275)
                                        -------    -------    -------
NET INCREASE (DECREASE) IN CASH AND
  CASH EQUIVALENTS                     $ 99,465   $ 30,077  ($ 71,252)

CASH AND CASH EQUIVALENTS AT
  BEGINNING OF PERIOD                   133,975    103,898    175,150
                                        -------    -------    -------
CASH AND CASH EQUIVALENTS AT
  END OF PERIOD                        $233,440   $133,975   $103,898
                                        =======    =======    =======

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

                                  22
<PAGE>
<PAGE>
          DYCO OIL AND GAS PROGRAM 1984-1 LIMITED PARTNERSHIP
                     Notes to Financial Statements
         For the Years Ended December 31, 1995, 1994, and 1993


1.   ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     Organization Nature of Operations

     The  Dyco  Oil and  Gas Program  1984-1 Limited  Partnership (the
     "Program"), a Minnesota limited partnership, commenced operations
     on July 31,  1984.   Dyco Petroleum Corporation  ("Dyco") is  the
     General  Partner  of the  Program.    Affiliates  of  Dyco  owned
     1,734.27 (31.2%) of the Program's Units at December 31, 1995.  

     The Program's sole business is the development and production  of
     oil  and  natural  gas  with  a  concentration  on  natural  gas.
     Substantially all of the Program's natural gas reserves are being
     sold  regionally in  the  "spot  market."    Due  to  the  highly
     competitive  nature of the spot market, prices on the spot market
     are subject  to wide seasonal and  regional pricing fluctuations.
     In  addition, such spot market  sales are generally short-term in
     nature  and are  dependent upon  the obtaining  of transportation
     services provided by pipelines.  


     Cash and Cash Equivalents

     The  Program  considers  all  highly liquid  investments  with  a
     maturity  of three  months  or less  when  purchased to  be  cash
     equivalents.   Cash equivalents are  not insured, which cause the
     Program to be subject to risk.


     Credit Risk

     Accrued oil and gas sales which are due from a variety of oil and
     natural gas purchasers subject the Program to a  concentration of
     credit risk.   Some of these purchasers are discussed in Note 3 -
     Major Customers. 
                                  23
<PAGE>
<PAGE>
     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.   Capitalized costs  are
     depleted on the  gross revenue method  using estimates of  proved
     reserves.  The full cost amortization rates per equivalent Mcf of
     gas produced during the years  ended December 31, 1995, 1994, and
     1993  were $0.35, $0.60, and  $0.54, respectively.   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 year
     during which such excess occurs.  In addition, the Securities and
     Exchange  Commission   rules  provide  that   if  prices  decline
     subsequent  to year  end,  any  excess  that results  from  these
     declines  may also be charged to expense during the current year.
     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.


     Deferred Charge 

     The  Deferred Charge  at  December 31, 1995  and 1994  represents
     costs  deferred   for  lease   operating  expenses   incurred  in
     connection  with   the  Program's  underproduced   gas  imbalance
     position.    At December 31,  1995,  cumulative  total gas  sales
     volumes for underproduced wells were less than the Program's pro-
     rata  share of total gas  production from these  wells by 325,585
     Mcf, resulting  in prepaid lease operating  expenses of $119,653.
     At  December 31, 1994,  cumulative  total gas  sales volumes  for
     underproduced wells  were less than the  Program's pro-rata share
     of  total  gas  production  from  these  wells  by  325,293  Mcf,
     resulting in prepaid operating expenses of $67,531.  

     Accrued Liability 

     Accrued Liability represents charges accrued for  lease operating
     expenses incurred  in connection with the  Program's overproduced
     gas imbalance  position.  At December 31,  1995, cumulative total
     gas sales  volumes for overproduced wells  exceeded the Program's
     pro-rata share of total gas production from these wells by 98,083
     Mcf, resulting  in accrued  lease operating expenses  of $36,046.
     At  December 31, 1994,  cumulative  total gas  sales volumes  for
     overproduced wells exceeded the Program's pro-rata share of total
     gas  production  from these  wells  by 98,607  Mcf,  resulting in
     accrued lease operating expenses of $20,471.  

                                  24
<PAGE>
<PAGE>
     Oil Gas Sales and Gas Imbalance Payable

     The  Program's  oil  and  condensate production  is  sold,  title
     passed, and  revenue recognized  at or  near the Program's  wells
     under  short-term purchase  contracts  at  prevailing  prices  in
     accordance  with  arrangements which  are  customary  in the  oil
     industry.    Sales of  natural  gas applicable  to  the Program's
     interest in producing oil  and gas leases are recorded  as income
     when the gas is metered and title transferred pursuant to the gas
     sales contracts  covering the  Program's interest in  natural gas
     reserves.  During such times as the Program's sales of gas exceed
     its  pro rata  ownership in a  well, such  sales are  recorded as
     income  unless  total sales  from  the  well  have  exceeded  the
     Program's share  of estimated  total gas reserves  underlying the
     property  at which time such  excess is recorded  as a liability.
     At December 31, 1994, total sales exceeded the Program's share of
     estimated  total gas reserves on two wells by $3,751 (2,389 Mcf).
     This  amount  was   recorded  as  a  gas   imbalance  payable  at
     December 31,  1994  in  accordance with  the  sales  method.   At
     December 31, 1995, no such liability was recorded.  


     Use of Estimates in Financial Statements

     The  preparation  of  financial  statements  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  those  estimates.
     Further,  accrued oil and gas sales, the deferred charge, the gas
     imbalance  payable,  and  the   accrued  liability  all   involve
     estimates which  could materially differ from  the actual amounts
     ultimately  realized or  incurred in  the near term.   Contingent
     liabilities from litigation (see Note 4) and oil and gas reserves
     (see  Note  5) also  involve  significant  estimates which  could
     materially differ from the actual amounts ultimately realized.   


     Income Taxes

     Income  or  loss for  income tax  purposes  is includable  in the
     income tax  returns of the partners.  Accordingly, no recognition
     has  been given  to income  taxes in  the accompanying  financial
     statements.
                                  25
<PAGE>
<PAGE>
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  years ended
     December 31, 1995, 1994, and 1993, such expenses totaled $77,733,
     $72,657, and  $75,611, respectively, of  which $62,616,  $62,616,
     and $62,013 were paid 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, together with any  compressor rentals, consulting, or
     other services provided.

     The Program sells  gas at  market prices to  Premier Gas  Company
     ("Premier") and  other similar gas  marketing firms.   Such firms
     may  then  resell such  gas to  third  parties at  market prices.
     Premier was an affiliate  of the Program until December  6, 1995.
     During  1995,  1994,  and  1993, these  sales  totaled  $411,397,
     $431,620, and  $530,205, respectively.  At  December 31, 1995 and
     1994, accrued  oil and  gas sales  included $52,780  and $60,779,
     respectively, due from Premier.


3.   MAJOR CUSTOMERS

     The following purchasers individually accounted for more than 10%
     of the combined oil and gas revenues (excluding the gas imbalance
     adjustment) of the Program for the years ended December 31, 1995,
     1994, and 1993:  


          Purchaser            1995     1994     1993
          ---------            -----    -----    -----

          Premier              82.1%    83.5%    75.8%
          Transok Gas Co.        - %      - %    18.2%

     In  the  event of  interruption of  purchases  by Premier  or the
     cessation  or  material  change in  availability  of  open-access
     transportation   by  the  Program's  pipeline  transporters,  the
     Program may  encounter difficulty  in marketing  its  gas and  in
     maintaining historic  sales levels.    Alternative purchasers  or
     transporters may not be readily available.  

                                  26
<PAGE>
<PAGE>
4.   CONTINGENCIES 

     On  October 15, 1993 and October 26, 1993, certain royalty owners
     filed  two  class action  lawsuits  against  Dyco  in  which  the
     plaintiffs  alleged entitlement to a share of proceeds of a take-
     or-pay settlement  with specified  gas purchasers.   The lawsuits
     allege claims based on unjust enrichment, breach of contract, and
     breach  of  fiduciary  obligations  and seek  an  accounting  and
     declaration  that the  plaintiffs are  third party  beneficiaries
     under  the gas contracts.  The plaintiffs have not quantified the
     amount of their damages, but they are seeking  exemplary damages,
     unpaid royalties, and  interest.   Dyco has filed  its answer  in
     both   matters  in  which  it   denied  all  of  the  plaintiffs'
     allegations.  The  district court certified the  matters as class
     actions on January 21, 1994  and January 18, 1994,  respectively,
     and  discovery is  proceeding in both  matters.   On November 29,
     1994,  the plaintiffs filed a motion for summary judgment in both
     matters.   Oral  arguments were  heard on  the motion  in January
     1995,  however, as of the date of these financial statements, the
     district court  has not  ruled on  the motion.   Dyco intends  to
     vigorously  defend the  lawsuits.    As  of  the  date  of  these
     financial statements,  Management cannot determine  the amount of
     the  alleged damages which would be allocable to the Program from
     these lawsuits; however, it is possible that  events could change
     in the future resulting in a material liability to the Program.  

     On December 18, 1992, a royalty owner  filed a quiet title action
     alleging  that the operator of certain wells in which the Program
     has  an interest failed to exercise due diligence in locating the
     owner  while in  the process  of force  pooling the  drilling and
     spacing unit.  Plaintiff claimed a right to revenues attributable
     to production from said wells in  an amount in excess of $500,000
     and further alleged conversion and claimed a  right to "interest"
     on the proceeds from production on the wells pursuant to  52 O.S.
     Section 540.  The defendants filed a counterclaim for quiet title
     and asserted various defenses.  A trial was held in the matter on
     March 3 and 4, 1994 in which the district court ruled against all
     defendants and  specifically  found  that  the  operator,  Apache
     Corporation,  did  not  exercise  due diligence  in  the  pooling
     proceedings.  Judgment was entered on June 15, 1994 in the amount
     of  $550,000 plus  interest.   The defendants  have appealed  the
     district court's ruling, which appeal is currently pending.  Oral
     arguments  in the  case  were heard  by  the appellate  court  on
     January 25, 1996.   Included in these financial statements  as of
     December 31, 1995 and 1994  is an accrual by the  General Partner
     of $20,000 representing the Program's share of estimated ultimate
     damages resulting from this lawsuit.  

                                  27
<PAGE>
<PAGE>
5.   SUPPLEMENTAL OIL AND GAS INFORMATION

     The following supplemental information  regarding the oil and gas
     activities of the Program is presented pursuant to the disclosure
     requirements   promulgated  by   the   Securities  and   Exchange
     Commission.


     Capitalized Costs

     The  Program's capitalized  costs  and accumulated  depreciation,
     depletion, amortization, and valuation allowance were as follows:


                                        December 31,
                                ----------------------------
                                    1995           1994
                                -------------  -------------

     Proved properties           $30,207,698    $30,181,284

     Unproved properties, not
       subject to depre-
       ciation, depletion, and
       amortization                     -             -
                                  ----------     ----------

                                 $30,207,698    $30,181,284

     Less accumulated depre-
       ciation, depletion,
       amortization, and
       valuation allowance      ( 29,756,319)  ( 29,642,920)
                                  ----------     ----------

     Net oil and gas
       properties                $   451,379    $   538,364
                                  ==========     ==========

                                  28
<PAGE>
<PAGE>
     Costs Incurred

     Costs incurred by  the Program in connection with its oil and gas
     property  acquisition,  exploration,  and development  activities
     were as follows:  


                                         December 31,
                                   -------------------------
                                    1995     1994     1993
                                   -------  -------  -------

     Acquisition of properties     $  -     $  -     $  -
     Exploration costs                -        -        -
     Development costs              32,476   22,217       74
                                    ------   ------   ------

     Total costs incurred          $32,476  $22,217  $    74
                                    ======   ======   ======
                                  29
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
     Quantities of Proved Oil and Gas Reserves - Unaudited

     Set forth below is a summary of the changes in the net quantities of the Program's  proved
     crude  oil and natural gas reserves for the years ended December 31, 1995, 1994, and 1993.
     Proved reserves were estimated by petroleum engineers employed affiliates of Dyco.  All of
     the Program's reserves are located in the United States.  

                                   1995                   1994                    1993
                            ------------------    --------------------    ---------------------
                              Oil       Gas          Oil       Gas           Oil        Gas
                            (Bbls)     (Mcf)       (Bbls)     (Mcf)        (Bbls)      (Mcf)
                            -------  ---------    -------  -----------    --------  -----------
<S>                          <C>      <C>          <C>      <C>           <C>        <C>  
Proved reserves,
  beginning of year          5,537    929,541      6,461    1,126,222      10,409    1,397,841

Revisions of previous
  estimates                  2,389    345,645      1,951       94,337     ( 1,758)      63,493

Sales of reserves             -          -          -            -           -            -

Extensions and
  discoveries                 -          -          -            -           -            -

Production                  (2,240)  (314,451)    (2,875)  (  291,018)    ( 2,190)  (  335,112)
                             -----    -------      -----    ---------      ------    ---------

Proved reserves,
  end of year                5,686    960,735      5,537      929,541       6,461    1,126,222
                             =====    =======      =====    =========      ======    =========

Proved developed
reserves:
  Beginning of year          3,804    860,176      4,476    1,046,809      10,409    1,397,841
                             -----    -------      -----    ---------      ------    ---------
  End of year                3,952    891,359      3,804      860,176       4,476    1,046,809
                             =====    =======      =====    =========      ======    =========
</TABLE>
                                               30
<PAGE>
<PAGE>
     The  process  of  estimating oil  and  gas  reserves is  complex,
     requiring significant  subjective decisions in the  evaluation of
     available geological,  engineering, and  economic  data for  each
     reservoir.    The   data  for  a   given  reservoir  may   change
     substantially  over time  as  a result  of,  among other  things,
     additional   development   activity,   production  history,   and
     viability of  production under varying economic  conditions; con-
     sequently, it  is reasonably possible that  material revisions to
     existing  reserve  estimates  may   occur  in  the  near  future.
     Although every reasonable effort has been made to ensure that the
     reserve  estimates  reported herein  represent the  most accurate
     assessment possible, the significance of the subjective decisions
     required and  variances in available data  for various reservoirs
     make these estimates generally  less precise than other estimates
     presented in connection with financial statement disclosures. 


ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH  ACCOUNTANTS ON ACCOUNTING
          AND FINANCIAL DISCLOSURE

     None.

                               PART III


ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     The  Program is  a limited  partnership and  has no  directors or
executive  officers.   The  following  individuals  are directors  and
executive  officers of Dyco, General Partner.  The business address of
such  directors  and executive  officers  is Two  West  Second Street,
Tulsa, Oklahoma  74103.  

           NAME        AGE         POSITION WITH DYCO
     ----------------  ---  --------------------------------
     C. Philip Tholen   47  Chief Executive Officer, Presi-
                              dent, and Chairman of the
                              Board of Directors

     Dennis R. Neill    43  Senior Vice President and
                              Director

     Jack A. Canon      46  Senior Vice President -
                              General Counsel and Director

     Patrick M. Hall    37  Senior Vice President - 
                              Controller

     Annabel M. Jones   42  Secretary

     Judy F. Hughes     49  Treasurer

                                  31
<PAGE>
<PAGE>
The  directors will  hold  office until  the  next annual  meeting  of
shareholders of Dyco and until their successors have been duly elected
and qualified.   All executive officers serve at the discretion of the
Board of Directors.

     C. Philip Tholen  joined  the Samson  Companies in  1977 and  has
served  as President,  Chief Executive Officer,  and Director  of Dyco
since June 18, 1991.  Prior to joining the Samson Companies, he was an
audit  manager for Arthur Andersen & Co. in Tulsa where he specialized
in oil and natural gas industry audits and contract audits.   He holds
a  Bachelor of  Science degree  in accounting  from the  University of
Tulsa  and is  a  Certified Public  Accountant.   Mr. Tholen  is  also
Executive Vice  President,  Chief Financial  Officer,  Treasurer,  and
Director of Samson  Investment Company; President and  Chairman of the
Board of Directors of Samson  Natural Gas Company, Geodyne  Resources,
Inc. and its subsidiaries, and Samson Resources Company; President  of
two  Divisions  of  Samson  Natural Gas  Company,  Samson  Exploration
Company and Samson Production Services Company; Senior Vice President,
Treasurer,  and   Director  of  Samson  Properties  Incorporated;  and
Director  of   Circle L   Drilling  Company   and  Samson   Industrial
Corporation.

     Dennis R. Neill joined the Samson Companies in 1981 and was named
Senior Vice President and Director of Dyco on June 18, 1991.  Prior to
joining the Samson Companies, he was associated with a Tulsa law firm,
Conner and Winters, where his principal practice was in the securities
area.  He received a Bachelor of Arts degree in political science from
Oklahoma  State  University  and a  Juris  Doctorate  degree from  the
University  of Texas.  Mr. Neill also serves as Senior Vice President,
Chief   Operating  Officer,   and   Director   of  Samson   Properties
Incorporated;  Senior Vice  President of Samson  Hydrocarbons Company;
Senior  Vice President and Director of Geodyne Resources, Inc. and its
subsidiaries;  and President and Chairman of the Board of Directors of
Samson Securities Company.

     Jack A.  Canon joined the Samson Companies in 1983 and has served
as  a Vice President and Director of Dyco  since June 18, 1991.  Prior
to joining the  Samson Companies, he  served as  a staff attorney  for
Terra Resources,  Inc. and was  associated with the Tulsa  law firm of
Dyer, Powers, Marsh, Turner and Armstrong.  He received a Bachelor  of
Science degree in accounting from Quincy College and a Juris Doctorate
degree  from  the  University of  Tulsa.    Mr. Canon  also serves  as
Secretary of Samson Investment Company; Director of Samson Natural Gas
Company, Samson  Properties Incorporated,  Circle L  Drilling Company,
and Samson Securities Company; Senior Vice President - General Counsel
of Samson Production  Services Company, a  Division of Samson  Natural
Gas Company,  and Geodyne Resources,  Inc. and  its subsidiaries;  and
Vice President - General Counsel of Samson Industrial Corporation.

                                  32
<PAGE>
<PAGE>
     Patrick M. Hall joined the Samson Companies in 1983 and was named
a  Vice President of  Dyco on  June 18,  1991.   Prior to  joining the
Samson Companies he was  a senior accountant with Peat  Marwick Main &
Co. in Tulsa.   He holds  a Bachelor of  Science degree in  accounting
from Oklahoma State  University and is a  Certified Public Accountant.
Mr. Hall is also a Director of Samson Natural Gas  Company and Geodyne
Resources,  Inc.  and  its   subsidiaries;  Senior  Vice  President  -
Controller and Director of  Samson Properties Incorporated; and Senior
Vice President -  Controller of Samson Production  Services Company, a
Division of Samson Natural Gas Company.

     Annabel  M. Jones  joined the  Samson Companies  in 1982  and was
named Secretary of Dyco on June 18, 1991.  Prior to joining the Samson
Companies  she served  as associate  general counsel  of the  Oklahoma
Securities  Commission.    She  holds Bachelor  of  Arts  in political
science and  Juris Doctorate degrees from the  University of Oklahoma.
Ms. Jones serves as Assistant  General Counsel - Corporate Affairs for
Samson Production Services  Company, a Division of  Samson Natural Gas
Company,  and is  also  Secretary of  Samson Properties  Incorporated,
Samson  Natural   Gas  Company,   Geodyne  Resources,  Inc.   and  its
subsidiaries,  and  Samson  Industrial   Corporation;  Vice-President,
Secretary, and  Director of  Samson Securities Company;  and Assistant
Secretary of Samson Investment Company.

     Judy F. Hughes  joined the Samson Companies in 1978 and was named
Treasurer  of Dyco  on June  18, 1991.   Prior  to joining  the Samson
Companies,  she  performed treasury  functions  with  Reading &  Bates
Corporation.  She attended the University of Tulsa and  also serves as
Treasurer  of Samson Natural Gas Company,  Geodyne Resources, Inc. and
its  subsidiaries,   and  Samson  Securities  Company   and  Assistant
Treasurer   of  Samson   Investment  Company  and   Samson  Industrial
Corporation.


ITEM 11.  EXECUTIVE COMPENSATION


     The  Program is  a  limited partnership  and,  therefore, has  no
officers or  directors.   The following table  summarizes the  amounts
paid by the Program as compensation and reimbursements to Dyco and its
affiliates for the three years ended December 31, 1995:  

                                  33
<PAGE>
<PAGE>
         Compensation/Reimbursement to Dyco and its affiliates
                  Three Years Ended December 31, 1995

Type of Compensation/Reimbursement(1)            Expense
-------------------------------------   -------------------------
                                         1995     1994     1993
                                        -------  -------  -------
Compensation:
  Operations                            $   (2)  $   (2)  $   (2)
  Gas Marketing                         $   (3)  $   (3)  $   (3)

Reimbursements:
  General and Administrative,
    Geological, and Engineering
    Expenses and Direct 
    Expenses(4)                         $62,616  $62,616  $62,013

----------
(1)  The authority for all  of such compensation and  reimbursement is
     the  limited partnership agreement of the  Program.  With respect
     to  the  Operations activities  noted  in  the table,  management
     believes that such  compensation is  equal to or  less than  that
     charged by unaffiliated persons in  the same geographic areas and
     under the same conditions.
(2)  Affiliates of  the Program  serve  as operator  of a  significant
     portion  of  the  Program's wells.    Dyco,  as  General Partner,
     contracts with  such affiliates for  services as operator  of the
     wells.  As  operator, such  affiliates are  compensated at  rates
     provided in the operating agreements in effect and charged to all
     parties to such  agreement.   The dollar amount  of such  compen-
     sation  paid by the Program  to such affiliates  is impossible to
     quantify as of the date of this Annual Report. 
(3)  Premier, an  affiliate  of the  Program until  December 6,  1995,
     purchased a portion  of the  Program's gas at  market prices  and
     resold  such gas at market prices directly to end-users and local
     distribution companies.   For  the year ended  December 31, 1995,
     1994,  and  1993,  the   Program  sold  $411,397,  $431,620,  and
     $530,205, respectively, of gas to Premier.  
(4)  The Program reimburses Dyco and its affiliates for reasonable and
     necessary general and administrative, geological, and engineering
     expenses and  direct expenses  incurred in connection  with their
     management  and  operation  of   the  Program.    The  directors,
     officers,  and employees  of Dyco and  its affiliates  receive no
     direct remuneration  from the Program  for their services  to the
     Program.  See "Salary Reimbursement  Table" below.  The allocable
     general  and administrative, geological, and engineering expenses
     are  apportioned  on a  reasonable  basis  between the  Program's
     business and all other oil and natural gas activities of Dyco and
     its  affiliates, including  Dyco's  management  and operation  of
     affiliated oil and  gas limited partnerships.   The allocation to
     the Program of these costs is made by Dyco as General Partner.

                                  34
<PAGE>
<PAGE>
     As  noted  in  the  Compensation/Reimbursement  Table  above, the
directors,  officers,  and  employees  of Dyco  and  their  affiliates
receive  no direct remuneration  from the Program  for their services.
However, to the extent such services represent direct involvement with
the Program, as opposed to  general corporate functions, such persons'
salaries  are  allocated  to and  reimbursed  by  the  Program.   Such
allocation to  the Program's  general and  administrative, geological,
and engineering expenses of  the salaries of directors, officers,  and
employees  of Dyco  and its  affiliates is  based on  internal records
maintained  by  Dyco  and  its  affiliates,  and  represents  investor
relations, legal, accounting,  data processing, management, and  other
functions  directly attributable  to  the Program's  operations.   The
following  table  indicates  the  approximate amount  of  general  and
administrative expense  reimbursement attributable to the  salaries of
the  directors and, officers, and employees of Dyco and its affiliates
for the three years ended December 31, 1995:  

                                  35
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
                                      Salary Reimbursement

                              Three Years Ended December 31, 1995

                                                         Long Term Compensation
                                                     -------------------------------
                            Annual Compensation             Awards           Payouts
                         -------------------------   ---------------------   -------
                                                                   Securi-
                                            Other                   ties                 All
     Name                                   Annual   Restricted    Under-               Other
      and                                  Compen-     Stock       lying      LTIP     Compen-
   Principal             Salary     Bonus  sation     Award(s)    Options/   Payouts   sation
   Position       Year     ($)       ($)     ($)        ($)        SARs(#)     ($)       ($)
---------------   ----   -------   ------- -------   ----------   --------   -------   -------
<S>               <C>    <C>         <C>     <C>       <C>          <C>        <C>       <C>
C. Philip 
Tholen,
President,
Chief Executive
Officer<F1>       1993     -         -       -         -            -          -         -
                  1994     -         -       -         -            -          -         -
                  1995     -         -       -         -            -          -         -

All Executive
Officers, 
Directors,
and Employees
as a group<F2>    1993   $32,867     -       -         -            -          -         -
                  1994   $34,126     -       -         -            -          -         -
                  1995   $34,188     -       -         -            -          -         -

----------
<FN>
<F1> The general  and administrative expenses  paid by the  Program and attributable  to salary
     reimbursements do not include any salary or other compensation attributable to Mr. Tholen.
<F2> No officer  or director  of  Dyco or  its affiliates  provides full-time  services to  the
     Program and no  individual's salary or other  compensation reimbursement from the  Program
     equals or exceeds $100,000 per annum.
</FN>
</TABLE>

                                               36
<PAGE>
<PAGE>
     In  addition  to  the  compensation/reimbursements  noted  above,
during  the three years ended December 31,  1995, the Samson Companies
were in the  business of  supplying field and  drilling equipment  and
services to affiliated and unaffiliated parties in the industry.  Such
companies  may have provided equipment and services for wells in which
the  Program has  an  interest.   These  equipment and  services  were
provided  at prices  or rates  equal  to or  less than  those normally
charged in  the same  or comparable  geographic  area by  unaffiliated
persons or companies dealing  at arm's length.  The operators of these
wells  bill the  Program for a  portion of  such costs  based upon the
Program's interest in the well.


ITEM 12.  SECURITY   OWNERSHIP  OF   CERTAIN  BENEFICIAL   OWNERS  AND
          MANAGEMENT

     The  following table  provides information  as to  the beneficial
ownership  of  the Program's  Units as  of  December 31, 1995  by each
beneficial owner of more than  5% of the issued and  outstanding Units
and  by the directors, officers, and affiliates  of Dyco.  The address
of  each of  such persons  is Samson  Plaza, Two  West Second  Street,
Tulsa, Oklahoma 74103.  

                                            Number of Units
                                             Beneficially
                                            Owned (Percent
            Beneficial Owner                of Outstanding)
     -------------------------------       -----------------

     Samson Properties Incorporated        1,734.27  (31.2%)

     All directors, officers, and
       affiliates of Dyco as a group
       and Dyco (8 persons)                1,734.27  (31.2%)

     To  the best  knowledge of  the Program  and Dyco, there  were no
officers,  directors,  or  5% owners  who  were  delinquent filers  of
reports  required under section 16  of the Securities  Exchange Act of
1934.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     Dyco  and certain  of  its  affiliates  engage  in  oil  and  gas
activities independently of the  Program which result in conflicts  of
interest  that  cannot  be  totally eliminated.    The  allocation  of
acquisition  and   drilling  opportunities  and  the   nature  of  the
compensation  arrangements between  the Program  and Dyco  also create
potential  conflicts of  interest.   Dyco  and  its affiliates  own  a
significant amount  of  the  Program's Units  and  therefore  have  an
identity of interest with  other limited partners with respect  to the
operations of the Program. 
                                  37
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<PAGE>
     In  order  to attempt  to  assure limited  liability  for limited
partners  as well as an orderly conduct of business, management of the
Program is exercised solely by Dyco.  The partnership agreement of the
Program grants Dyco  broad discretionary authority with respect to the
Program's  participation  in  drilling prospects  and  expenditure and
control of funds, including borrowings.  These  provisions are similar
to  those contained  in  prospectuses and  partnership agreements  for
other public oil and gas partnerships.  Broad discretion as to general
management  of  the  Program  involves circumstances  where  Dyco  has
conflicts of interest and  where it must allocate costs  and expenses,
or opportunities, among the Program and other competing interests. 

     Dyco  does not  devote all  of its  time, efforts,  and personnel
exclusively  to the Program.   Furthermore, the Program  does not have
any  employees,  but instead  relies on  the  personnel of  the Samson
Companies.   The  Program  thus  competes  with the  Samson  Companies
(including  other currently  sponsored oil  and gas programs)  for the
time and resources  of such  personnel.  The  Samson Companies  devote
such time  and personnel  to  the management  of  the Program  as  are
indicated  by the  circumstances  and as  are  consistent with  Dyco's
fiduciary duties. 

     Affiliates of the Program are solely responsible for the negotia-
tion, administration, and enforcement of oil and  gas sales agreements
covering the  Program's leasehold interests.  Until  December 6, 1995,
Dyco had delegated the negotiation, administration, and enforcement of
its oil and gas sales agreements to Premier.  In addition to providing
such  administrative  services,  Premier   purchased  and  resold  gas
directly  to  end-users and  local  distribution  companies.   Because
affiliates of the  Program who  provide services to  the Program  have
fiduciary  or other duties to  other members of  the Samson Companies,
contract amendments and  negotiating positions taken by  them in their
effort to enforce contracts with purchasers may not necessarily repre-
sent  the  positions  that  the  Program  would  take  if  it were  to
administer its own contracts without involvement with other members of
the Samson Companies.  On the other hand, management believes that the
Program's  negotiating strength  and contractual  positions have  been
enhanced by virtue of its affiliation with the Samson Companies. 

     For  a description  of  certain other  relationships and  related
transactions see "Item 11. Executive Compensation."

                                  38
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<PAGE>
                                PART IV


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

          (a)  Financial  Statements and  Schedules.    The  following
     financial  statements  and  schedules   for  the  Program  as  of
     December 31, 1995 and  1994 and for the  years ended December 31,
     1995, 1994, and 1993 are filed as part of this report.

          (1)  Financial Statements:
               Report of Independent Accountants
               Balance Sheets
               Statements of Operations
               Statements of Partners' Capital
               Statements of Cash Flows
               Notes to Financial Statements

          (2)  Financial Statement Schedules:

               None

          All  other schedules  have been  omitted since  the required
     information is presented  in the Financial  Statements or is  not
     applicable.

          (b)  Reports on Form 8-K for the fourth quarter of 1995:

               None.

          (c)  Exhibits:

               4.1  Drilling Agreement dated  March 16, 1984 for  Dyco
                    Drilling Program  1984-1 by  and between  Dyco Oil
                    and   Gas   Program    1984-1,   Dyco    Petroleum
                    Corporation, and Jaye F. Dyer filed as Exhibit 4.1
                    to Annual  Report on Form 10-K for  the year ended
                    December 31, 1991 on  April 8, 1992 and is  hereby
                    incorporated by reference.

               4.2  Form  of Program  Agreement for  Dyco Oil  and Gas
                    Program  1984-1  by  and  between  Dyco  Petroleum
                    Corporation   and   the   Participants  filed   as
                    Exhibit 4.2  to Annual Report on Form 10-K for the
                    year ended December 31, 1991 on  April 8, 1992 and
                    is hereby incorporated by reference.

                                  39
<PAGE>
<PAGE>
               4.3  Amendment to  Program Agreement for  Dyco Oil  and
                    Gas Program 1984-1 dated February 9, 1989 filed as
                    Exhibit 4.3  to Annual Report on Form 10-K for the
                    year ended December 31, 1991 on  April 8, 1992 and
                    is hereby incorporated by reference.

               4.4  Certificate  of  Limited Partnership,  as amended,
                    for  Dyco  Oil  and  Gas  Program  1984-1  Limited
                    Partnership  filed as Exhibit 4.4 to Annual Report
                    on  Form 10-K for the year ended December 31, 1991
                    on  April 8,  1992 and  is hereby  incorporated by
                    reference.

               27.1 Financial   Data   Schedule   containing   summary
                    financial information extracted from the  Dyco Oil
                    and  Gas  Program  1984-1   Limited  Partnership's
                    financial statements  as of December 31,  1995 and
                    for the year ended December 31, 1995.  

               All other Exhibits are omitted as inapplicable.  

                                  40
<PAGE>
<PAGE>
                              SIGNATURES

Pursuant to the requirements of Sections 13 or 15(d) 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 organized.

                              DYCO OIL AND GAS PROGRAM 1984-1 
                              LIMITED PARTNERSHIP

                              By:  DYCO PETROLEUM CORPORATION
                                   General Partner
                                   February 16, 1996

                              By:  /s/C. Philip Tholen
                                   ------------------------------
                                   C. Philip Tholen
                                   Chief Executive Officer 
                                   and President

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 on the dates indicated.

By:  /s/C. Philip Tholen    Chief Executive        Feb. 16, 1996
     -------------------    Officer, President,
        C. Philip Tholen    and Chairman of the
                            Board (Principal
                            Executive Officer)

     /s/Dennis R. Neill     Senior Vice            Feb. 16, 1996 
     -------------------    President and
        Dennis R. Neill     Director

     /s/Jack A. Canon       Senior Vice            Feb. 16, 1996
     -------------------    President - 
        Jack A. Canon       General Counsel
                            and Director

     /s/Patrick M. Hall     Senior Vice            Feb. 16, 1996
     -------------------    President - 
        Patrick M. Hall     Controller 
                            (Principal 
                            Accounting Officer)

     /s/Annabel M. Jones    Secretary              Feb. 16, 1996
     -------------------
        Annabel M. Jones

     /s/Judy F. Hughes      Treasurer              Feb. 16, 1996
     -------------------
        Judy F. Hughes

                                  41
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<PAGE>
                           INDEX TO EXHIBITS


Exhibit 
Number    Description
-------   -----------

4.1       Drilling Agreement  dated March 16, 1984  for Dyco  Drilling
          Program  1984-1 by  and  between Dyco  Oil  and Gas  Program
          1984-1, Dyco Petroleum  Corporation, and Jaye F.  Dyer filed
          as Exhibit 4.1  to Annual Report  on Form 10-K for  the year
          ended  December 31,  1991 on  April 8,  1992  and is  hereby
          incorporated by reference.

4.2       Form of  Program  Agreement for  Dyco  Oil and  Gas  Program
          1984-1  by and  between Dyco  Petroleum Corporation  and the
          Participants  filed  as  Exhibit 4.2  to  Annual  Report  on
          Form 10-K for  the year ended December 31,  1991 on April 8,
          1992 and is hereby incorporated by reference.

4.3       Amendment  to Program Agreement for Dyco Oil and Gas Program
          1984-1 dated February 9, 1989 filed as Exhibit 4.3 to Annual
          Report on Form 10-K for the  year ended December 31, 1991 on
          April 8, 1992 and is hereby incorporated by reference.

4.4       Certificate of Limited Partnership, as amended, for Dyco Oil
          and  Gas  Program  1984-1  Limited  Partnership    filed  as
          Exhibit 4.4 to Annual Report on Form 10-K for the year ended
          December 31,   1991  on   April 8,   1992  and   is   hereby
          incorporated by reference.

27.1      Financial   Data   Schedule  containing   summary  financial
          information  extracted from  the  Dyco Oil  and Gas  Program
          1984-1  Limited Partnership's  financial  statements  as  of
          December 31,1995 and for the year ended December 31, 1995.  

                                  42
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