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


                                    FORM 10-Q


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


                For the quarterly period ended September 30, 2000



                          Commission File No. 2-75530A


                           PARKER & PARSLEY 82-1, LTD.
             (Exact name of Registrant as specified in its charter)

                        Texas                                75-1825545
       --------------------------------------------    ---------------------
            (State or other jurisdiction of               (I.R.S. Employer
            incorporation or organization)             Identification Number)


1400 Williams Square West, 5205 N. O'Connor Blvd., Irving, Texas     75039
----------------------------------------------------------------   ----------
          (Address of principal executive offices)                 (Zip code)

       Registrant's Telephone Number, including area code : (972) 444-9001


                                 Not applicable
              (Former name, former address and former fiscal year,
                          if changed since last report)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                Yes / x / No / /




<PAGE>



                           PARKER & PARSLEY 82-I, LTD.

                                TABLE OF CONTENTS



                                                                    Page
                          Part I. Financial Information

Item 1.    Financial Statements

           Balance Sheets as of September 30, 2000 and
              December 31, 1999...................................    3

           Statements of Operations for the three and nine
             months ended September 30, 2000 and 1999.............    4

           Statement of Partners' Capital for the nine months
             ended September 30, 2000.............................    5

           Statements of Cash Flows for the nine months ended
             September 30, 2000 and 1999..........................    6

           Notes to Financial Statements..........................    7

Item 2.    Management's Discussion and Analysis of Financial
             Condition and Results of Operations..................    7


                           Part II. Other Information

Item 6.    Exhibits and Reports on Form 8-K.......................   10

           27.1   Financial Data Schedule

           Signatures.............................................   11




                                        2

<PAGE>



                           PARKER & PARSLEY 82-I, LTD.
                          (A Texas Limited Partnership)

                          Part I. Financial Information

Item 1.      Financial Statements
                                 BALANCE SHEETS
<TABLE>
<CAPTION>
                                                 September 30,   December 31,
                                                     2000            1999
                                                 ------------    ------------
                                                  (Unaudited)
                 ASSETS
<S>                                              <C>             <C>

Current assets:
  Cash                                           $     40,512    $     61,558
  Accounts receivable - oil and gas sales              91,618          61,533
                                                  -----------     -----------
         Total current assets                         132,130         123,091
                                                  -----------     -----------
Oil and gas properties - at cost, based on the
  successful efforts accounting method              9,895,266       9,889,520
Accumulated depletion                              (9,607,723)     (9,587,504)
                                                  -----------     -----------
         Net oil and gas properties                   287,543         302,016
                                                  -----------     -----------
                                                 $    419,673    $    425,107
                                                  ===========     ===========
LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
  Accounts payable - affiliate                   $     21,281    $     13,314

Partners' capital:
  General partners                                    151,078         151,802
  Limited partners (4,891 interests)                  247,314         259,991
                                                  -----------     -----------
                                                      398,392         411,793
                                                  -----------     -----------
                                                 $    419,673    $    425,107
                                                  ===========     ===========
</TABLE>



The financial information included as of September 30, 2000 has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        3

<PAGE>



                           PARKER & PARSLEY 82-I, LTD.
                          (A Texas Limited Partnership)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                   Three months ended        Nine months ended
                                      September 30,            September 30,
                                 ---------------------    ---------------------
                                    2000        1999         2000        1999
                                 ---------   ---------    ---------   ---------
<S>                              <C>         <C>          <C>         <C>
Revenues:
   Oil and gas                   $ 191,130   $ 128,826    $ 540,662   $ 315,328
   Interest                          1,707         797        4,030       1,834
                                  --------    --------     --------    --------
                                   192,837     129,623      544,692     317,162
                                  --------    --------     --------    --------
Costs and expenses:
   Oil and gas production           93,508      65,896      276,533     216,407
   General and administrative        6,974       6,231       18,306      13,082
   Depletion                         4,107       6,768       20,219      88,217
                                  --------    --------     --------    --------
                                   104,589      78,895      315,058     317,706
                                  --------    --------     --------    --------
Net income (loss)                $  88,248   $  50,728    $ 229,634   $    (544)
                                  ========    ========     ========    ========
Allocation of net income (loss):
   General partners              $  22,678   $  13,044    $  60,441   $  12,443
                                  ========    ========     ========    ========
   Limited partners              $  65,570   $  37,684    $ 169,193   $ (12,987)
                                  ========    ========     ========    ========
Net income (loss) per limited
   partnership interest          $   13.40   $    7.70    $   34.59   $   (2.66)
                                  ========    ========     ========    ========
</TABLE>



         The financial information included herein has been prepared by
  the managing general partner without audit by independent public accountants.

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


                                        4

<PAGE>



                           PARKER & PARSLEY 82-I, LTD.
                          (A Texas Limited Partnership)

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)


<TABLE>
<CAPTION>

                                       General      Limited
                                       partners      partners       Total
                                      ----------    ----------    ----------
<S>                                   <C>           <C>           <C>

Balance at January 1, 2000            $  151,802    $  259,991    $  411,793

    Distributions                        (61,165)     (181,870)     (243,035)

    Net income                            60,441       169,193       229,634
                                       ---------     ---------     ---------

Balance at September 30, 2000         $  151,078    $  247,314    $  398,392
                                       =========     =========     =========

</TABLE>





         The financial information included herein has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        5

<PAGE>



                           PARKER & PARSLEY 82-I, LTD.
                          (A Texas Limited Partnership)

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                      Nine months ended
                                                         September 30,
                                                   ------------------------
                                                      2000          1999
                                                   ----------    ----------
<S>                                                <C>           <C>
Cash flows from operating activities:
   Net income (loss)                               $  229,634    $     (544)
   Adjustments to reconcile net income (loss) to
      net cash provided by operating activities:
        Depletion                                      20,219        88,217
   Changes in assets and liabilities:
        Accounts receivable                           (30,085)      (26,488)
        Accounts payable                                7,967         6,641
                                                    ---------     ---------
             Net cash provided by operating
               activities                             227,735        67,826
                                                    ---------     ---------
Cash flows from investing activities:
   Additions to oil and gas properties                 (5,746)         (223)
   Proceeds from asset dispositions                       -             704
                                                    ---------     ---------
             Net cash provided by (used in)
               investing activities                    (5,746)          481
                                                    ---------     ---------
Cash flows used in financing activities:
   Cash distributions to partners                    (243,035)      (49,632)
                                                    ---------     ---------
Net increase (decrease) in cash                       (21,046)       18,675
Cash at beginning of period                            61,558        44,427
                                                    ---------     ---------
Cash at end of period                              $   40,512    $   63,102
                                                    =========     =========

</TABLE>



         The financial information included herein has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        6

<PAGE>



                           PARKER & PARSLEY 82-I, LTD.
                          (A Texas Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                               September 30, 2000
                                   (Unaudited)


Note 1.     Organization and nature of operations

Parker &  Parsley  82-I,  Ltd.  (the  "Partnership")  is a  limited  partnership
organized in 1982 under the laws of the State of Texas.

The Partnership  engages in oil and gas exploration,  development and production
in Texas and New Mexico and is not involved in any industry  segment  other than
oil and gas.

Note 2.     Basis of presentation

In  the  opinion  of  management,  the  unaudited  financial  statements  of the
Partnership  as of  September  30, 2000 and for the three and nine months  ended
September 30, 2000 and 1999 include all adjustments and accruals consisting only
of  normal  recurring  accrual  adjustments  which  are  necessary  for  a  fair
presentation  of the results for the interim  period.  These interim results are
not necessarily indicative of results for a full year. Certain reclassifications
may have been made to the September 30, 1999 financial  statements to conform to
the September 30, 2000 financial statement presentations.

Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have been  condensed  or  omitted  in this Form 10-Q  pursuant  to the rules and
regulations of the Securities and Exchange Commission.  The financial statements
should  be read in  conjunction  with the  financial  statements  and the  notes
thereto  contained in the  Partnership's  Report on Form 10-K for the year ended
December 31, 1999, as filed with the Securities and Exchange Commission,  a copy
of which is available upon request by writing to Rich Dealy,  Vice President and
Chief Accounting Officer,  5205 North O'Connor  Boulevard,  1400 Williams Square
West, Irving, Texas 75039-3746.

Item 2.     Management's Discussion and Analysis of Financial Condition
             and Results of Operations (1)

Results of Operations

Nine months ended  September 30, 2000 compared with nine months ended  September
 30, 1999

Revenues:

The  Partnership's  oil and gas revenues  increased 71% to $540,662 for the nine
months ended  September  30, 2000 as compared to $315,328 for the same period in
1999. The increase in revenues resulted from  higher  average  prices  received,


                                        7

<PAGE>



offset by a decrease in  production.  For the nine months  ended  September  30,
2000,  12,935 barrels of oil, 5,029 barrels of natural gas liquids  ("NGLs") and
35,584 mcf of gas were sold, or 23,895 barrel of oil equivalents  ("BOEs").  For
the nine months ended  September 30, 1999,  13,535 barrels of oil, 5,381 barrels
of NGLs and 37,870 mcf of gas were sold, or 25,228 BOEs.

The average  price  received per barrel of oil  increased  $13.59,  or 92%, from
$14.75  for the nine  months  ended  September  30,  1999 to $28.34 for the same
period in 2000. The average price  received per barrel of NGLs increased  $5.52,
or 67%, from $8.20 during the nine months ended September 30, 1999 to $13.72 for
the same period in 2000. The average price received per mcf of gas increased 56%
from $1.89 during the nine months ended September 30, 1999 to $2.95 for the same
period in 2000. The market price for oil and gas has been extremely  volatile in
the past  decade  and  management  expects a certain  amount  of  volatility  to
continue in the  foreseeable  future.  The  Partnership  may therefore  sell its
future  oil and gas  production  at  average  prices  lower or higher  than that
received during the nine months ended September 30, 2000.

Costs and Expenses:

Total  costs and  expenses  decreased  to  $315,058  for the nine  months  ended
September  30,  2000 as compared  to  $317,706  for the same  period in 1999,  a
decrease of $2,648,  or 1%.  This  decrease  was due to a decline in  depletion,
offset by increases in production costs and general and administrative  expenses
("G&A").

Production  costs were $276,533 for the nine months ended September 30, 2000 and
$216,407 for the same period in 1999  resulting in a $60,126  increase,  or 28%.
This increase was primarily due to additional well maintenance costs incurred to
stimulate  well  production  of $41,944 and higher  production  taxes of $17,430
associated with higher oil and gas prices.

G&A's  components are independent  accounting and engineering  fees and managing
general  partner  personnel  and  operating  costs.   During  this  period,  G&A
increased,  in aggregate,  40% from $13,082 for the nine months ended  September
30,  1999 to  $18,306  for the same  period  in 2000  primarily  due to a higher
allocation of the managing general partner's G&A being allocated  (limited to 3%
of oil and gas revenues) as a result of increased oil and gas revenues.

Depletion  was $20,219 for the nine months ended  September 30, 2000 compared to
$88,217  for the same  period in 1999,  a  decrease  of  $67,998,  or 77%.  This
decrease  was  attributable  to an  increase  in proved  reserves  due to higher
commodity prices and a decline in oil production of 600 barrels when compared to
the respective information for the same period in 1999.

Three months ended September 30, 2000 compared with three months ended September
 30, 1999

Revenues:

The Partnership's  oil and gas revenues  increased 48% to $191,130 for the three
months ended  September  30, 2000 as compared to $128,826 for the same period in
1999. The increase in revenues resulted  from  higher  average prices  received,

                                        8

<PAGE>



offset by a decrease in  production.  For the three months ended  September  30,
2000,  4,072  barrels of oil,  1,737  barrels of NGLs and 12,327 mcf of gas were
sold,  or 7,864 BOEs.  For the three months  ended  September  30,  1999,  4,238
barrels of oil,  1,789 barrels of NGLs and 12,923 mcf of gas were sold, or 8,181
BOEs.

The average  price  received per barrel of oil  increased  $11.47,  or 61%, from
$18.79 for the three  months  ended  September  30,  1999 to $30.26 for the same
period in 2000. The average price  received per barrel of NGLs increased  $4.18,
or 39%, from $10.62  during the three months ended  September 30, 1999 to $14.80
for the same period in 2000. The average price received per mcf of gas increased
46% from $2.34 during the three months ended September 30, 1999 to $3.42 for the
same period in 2000.

Costs and Expenses:

Total costs and  expenses  increased  to  $104,589  for the three  months  ended
September  30,  2000 as  compared  to $78,895  for the same  period in 1999,  an
increase of $25,694,  or 33%.  This  increase was due to increases in production
costs and G&A, offset by a decrease in depletion.

Production  costs were $93,508 for the three months ended September 30, 2000 and
$65,896 for the same period in 1999 resulting in a $27,612 increase, or 42%. The
increase was primarily  due to additional  well  maintenance  costs  incurred to
stimulate  well  production  of $21,359  and higher  production  taxes of $6,201
associated with higher oil and gas prices.

During this period, G&A increased,  in aggregate,  12% from $6,231 for the three
months ended  September 30, 1999 to $6,974 for the same period in 2000 primarily
due to a higher allocation of the managing general partner's G&A being allocated
(limited to 3% of oil and gas  revenues)  as a result of  increased  oil and gas
revenues.

Depletion  was $4,107 for the three months ended  September 30, 2000 compared to
$6,768 for the same period in 1999,  representing a decrease of $2,661,  or 39%.
This decrease was  attributable to an increase in proved reserves as a result of
higher  commodity  prices and a decline in oil  production  of 166 barrels  when
compared to the respective information for the same period in 1999.

Liquidity and Capital Resources

Net Cash Provided by Operating Activities

Net cash provided by operating  activities  increased  $159,909  during the nine
months ended  September 30, 2000 from the same period ended  September 30, 1999.
This increase was due to an increase in oil and gas sales  receipts of $223,933,
offset by increases in production costs paid of $56,044 and G&A expenses paid of
$7,980.

Net Cash Provided by (Used in) Investing Activities

The Partnership's  principal  investing  activities during the nine months ended
September 30, 2000 and 1999 were related to upgrades of oil and gas equipment on
active properties.

                                        9

<PAGE>



Proceeds from asset  dispositions  of $704 were received  during the nine months
ended September 30, 1999 from equipment credits received on one well.

Net Cash Used in Financing Activities

For the nine months ended September 30, 2000, cash distributions to the partners
were  $243,035,  of which $61,165 was  distributed  to the general  partners and
$181,870 to the limited partners.  For the same period ended September 30, 1999,
cash  distributions  to  the  partners  were  $49,632,   of  which  $12,052  was
distributed to the general partners and $37,580 to the limited partners.

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

(1)     "Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations"  contains forward looking statements that involve
        risks and  uncertainties.  Accordingly,  no assurances can be given that
        the actual events and results will not be materially  different than the
        anticipated results described in the forward looking statements.


                           Part II. Other Information

Item 6.     Exhibits and Reports on Form 8-K

(a)    Exhibits

       27.1  Financial Data Schedule

(b)    Reports on Form 8-K - none


                                       10

<PAGE>


                           PARKER & PARSLEY 82-1, LTD.
                          (A Texas Limited Partnership)



                               S I G N A T U R E S



       Pursuant to the requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                            PARKER & PARSLEY 82-1, LTD.

                                     By:    Pioneer Natural Resources USA, Inc.,
                                             Managing General Partner




Dated:  November 7, 2000             By:    /s/ Rich Dealy
                                            -----------------------------------
                                            Rich Dealy, Vice President and
                                              Chief Accounting Officer



                                       11

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