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

                                    Form 10-Q

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

                  For the Quarterly Period Ended March 31, 1998

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

                         Commission File Number 0-11311


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


                                                                      75-1896224
               Texas                                                  75-1896223
    (State or other jurisdiction of                             (I.R.S. Employer
    incorporation or organization)                        Identification Number)

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

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

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [x] No [ ]











                                   Page 1 of 9


<PAGE>


<TABLE>
<CAPTION>

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



                                                                               March 31,                December 31,
                                                                                  1998                      1997

ASSETS
<S>                                                                              <C>                       <C>  
Investment in May Limited Partnership 1983-1                                     $ 156                     $ 189
                                                                                  ====                      ====


PARTNERS' CAPITAL
Partners' Capital                                                                $ 156                     $ 189
                                                                                  ====                      ====





<FN>

NOTE:      The  statements  of  operations  and  cash  flows  for  May  Drilling
           Partnership  1983-1 are not  presented  because such  information  is
           equal to the limited partner's share of such activity as presented in
           the May Limited  Partnership  1983-1  financial  statements.  The May
           Drilling   Partnership   carries  its   investment   in  May  Limited
           Partnership 1983-1 on the equity method. The May Limited  Partnership
           1983-1 financial  statements should be read in conjunction with these
           balance sheets.
</FN>
























<FN>

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


<PAGE>

<TABLE>
<CAPTION>

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



                                                                     March 31,              December 31,
                                                                        1998                    1997

ASSETS
CURRENT ASSETS
<S>                                                                    <C>                     <C>    
    Cash and cash equivalents                                          $   130                 $   163
    Accrued oil and gas sales                                               42                      51
    Due from affiliate                                                      13                      20
                                                                       -------                  ------
         Total                                                             185                     234
                                                                        ------                  ------

OIL AND GAS PROPERTIES, using the
    full cost method of accounting                                       7,318                   7,315
       Less accumulated depletion                                       (7,111)                  (7,100)
                                                                         -----                    -----
         Net oil and gas properties                                        207                     215
                                                                        ------                  ------

TOTAL ASSETS                                                            $   392                $   449
                                                                         ======                 ======

LIABILITIES AND PARTNERS' CAPITAL
CURRENT LIABILITIES
    Accounts payable and accrued liabilities                            $    13                $    20
                                                                         ------                 ------

PARTNERS' CAPITAL
    General partner                                                         223                    240
    Limited partner                                                         156                    189
                                                                         ------                 ------
         Total                                                              379                    429
                                                                         ------                 ------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                 $   392                $   449
                                                                         ======                 ======




















<FN>

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


<PAGE>
<TABLE>
<CAPTION>


                         MAY LIMITED PARTNERSHIP 1983-1
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
                   (In thousands, except for unit information)



                                                                      For the Three Months Ended March 31,
                                                                        1998                      1997

REVENUES
<S>                                                                  <C>                       <C>     
    Oil revenue                                                      $      6                  $     81
    Gas revenue                                                            63                        69
    Interest                                                                2                         1
                                                                      -------                  --------
         Total                                                             71                        78
                                                                       ------                   -------

COSTS AND EXPENSES
   Lease operating                                                          9                         8
   General and administrative                                              15                        15
   Depletion                                                               11                         9
   Professional services and other                                          3                         4
                                                                     --------                  --------
         Total                                                             38                        36
                                                                      -------                   -------

NET INCOME                                                           $     33                  $     42
                                                                      =======                   =======

ALLOCATION OF NET INCOME:

    General Partner                                                  $     18                  $     23
                                                                      =======                   =======

    Limited Partner                                                  $     15                  $     19
                                                                      =======                   =======

       Per initial $1,000 limited partner
         investment                                                   $  3.18                   $  4.03
                                                                       ======                    ======

       Weighted average initial $1,000 limited
         partner investment units outstanding                           4,713                     4,713
                                                                       ======                    ======
















<FN>


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


<PAGE>

<TABLE>
<CAPTION>

                         MAY LIMITED PARTNERSHIP 1983-1
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (In thousands)



                                                                      For the Three Months Ended March 31,
                                                                         1998                      1997

OPERATING ACTIVITIES:
<S>                                                                    <C>                       <C>    
    Net income                                                         $    33                   $    42
    Adjustment to reconcile net income to
       net cash provided by operating activities:
          Depletion                                                         11                         9

Changes in assets and liabilities provided (used) cash:
      Accrued oil and gas sales                                              9                        20
      Due from affiliate                                                     7                       (27)
      Accounts payable and accrued liabilities                              (7)                       (6)
      Due to affiliate                                                                                (5)
                                                                      --------                   -------
              Net cash provided by operating activities                     53                        33
                                                                        ------                    ------

INVESTING ACTIVITIES -
      Additions to oil and gas properties                                   (3)                       (9)
                                                                       -------                   -------

FINANCING ACTIVITIES -
      Distributions to partners                                            (83)

NET INCREASE (DECREASE) IN CASH AND CASH
    EQUIVALENTS                                                            (33)                       24

CASH AND CASH EQUIVALENTS:
       Balance, beginning of period                                        163                       115
                                                                        ------                    ------

       Balance, end of period                                          $   130                   $   139
                                                                        ======                    ======

















<FN>

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


<PAGE>


                         MAY LIMITED PARTNERSHIP 1983-1
                          NOTE TO FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1    -   GENERAL

The financial  statements  presented are those of May Limited Partnership 1983-1
(the "Partnership").  The interim financial data are unaudited;  however, in the
opinion of the general  partner,  the  interim  data  include  all  adjustments,
consisting  only  of  normal  recurring   adjustments,   necessary  for  a  fair
presentation of the results for the interim periods.  These financial statements
should be read in  conjunction  with the financial  statements and notes thereto
included in the Partnership's December 31, 1997 Annual Report on Form 10-K.


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

Liquidity and Capital Resources

The Partnership  generated $53,000 of cash flow from operating activities during
the three months ended March 31, 1998 and distributed  $83,000 to partners.  The
ability of the Partnership to make future  distributions  is dependent on future
prices  for  the  Partnership's  production  and  the  production  level  of the
Partnership's remaining oil and gas reserves.

Results of Operations

First Quarter 1998 Compared to First Quarter 1997

Oil Revenue

Oil revenue  decreased  $2,000 during the first quarter of 1998 as compared with
the first  quarter of 1997.  The  decrease  is  comprised  of a decrease  in the
average  oil price from  $22.56 per barrel in 1997 to $16.12 per barrel in 1998,
partially  offset by an 8% increase  in  production  due to workover  procedures
performed during the second quarter of 1997.

Gas Revenue

Gas revenue decreased $6,000 during the first quarter of 1998 as compared to the
first quarter of 1997, as the result of a decrease in price, partially offset by
an increase in production. The average gas price decreased from $3.19 per mcf in
1997 to $2.42 per mcf in 1998.  Gas  production  increased  20% due to  workover
procedures performed during the second quarter of 1997.

Interest

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

Lease Operating

Lease  operating  expense  increased  $1,000 during the first quarter of 1998 as
compared  with the first quarter of 1997  primarily due to increased  production
taxes related to the increased oil and gas production discussed above.



<PAGE>


Depletion

Depletion  expense increased $2,000 during the first quarter of 1998 as compared
to the first quarter of 1997 as a result of a higher  depletion rate during 1998
resulting from the increase in oil and gas production discussed above.

Professional Services and Other

Professional  services  and other  expense  decreased  $1,000  during  the first
quarter of 1998 as  compared  with the first  quarter of 1997.  The  decrease is
comprised of a net decrease in miscellaneous  other expenses,  none of which are
individually significant.


<PAGE>


PART II -    OTHER INFORMATION


ITEM 1 -     LEGAL PROCEEDINGS

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


ITEM 2 -     CHANGES IN SECURITIES

             None.


ITEM 3 -     DEFAULTS UPON SENIOR SECURITIES

             None.


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

             None.


ITEM 5 -     OTHER INFORMATION

             None.


ITEM 6 -     EXHIBITS AND REPORTS ON FORM 8-K

             None.



<PAGE>


SIGNATURE

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


                                              MAY DRILLING PARTNERSHIP 1983-1
                                              MAY LIMITED PARTNERSHIP 1983-1

                                              By:  EDP OPERATING, LTD.,
                                                    General Partner

                                                    By:  HEPGP Ltd.,
                                                         General Partner

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



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