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

                               Form 10-Q

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
    Exchange Act of 1934
    For the period ended September 30, 2000
                                  or

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

                    Commission File Number 1-12396

                           THE BEARD COMPANY
        (Exact name of registrant as specified in its charter)

        Oklahoma                                         73-0970298
(State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization)                       Identification No.)

                       Enterprise Plaza, Suite 320
                          5600 North May Avenue
                         Oklahoma City, Oklahoma             73112
                 (Address of principal executive offices)  (Zip Code)

Registrant's telephone number, including area code:  (405) 842-2333

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

     Indicate the number of shares outstanding of each of the
registrant's classes of common stock as of October 31, 2000.

              Common Stock $.001333 par value - 1,828,845
<PAGE>

                           THE BEARD COMPANY

                                 INDEX

PART I.  FINANCIAL INFORMATION                                     Page

Item 1.  Financial Statements

 Balance Sheets - September 30, 2000 (Unaudited) and
  December 31, 1999

 Statements of Operations - Three Months and Nine Months
  ended September 30, 2000 and 1999 (Unaudited)

 Statements of Shareholders' Equity - Year ended
  December 31, 1999 and Nine Months ended
  September 30, 2000 (Unaudited)

 Statements of Cash Flows - Nine Months ended
  September 30, 2000 and 1999 (Unaudited)

 Notes to Financial Statements (Unaudited)

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

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

PART II.  OTHER INFORMATION

Item 2.  Changes in Securities

Item 4.  Submission of Matters to a Vote of Security Holders

Item 6.  Exhibits and Reports on Form 8-K

Signatures
<PAGE>
PART 1.  FINANCIAL INFORMATION

Item 1.  Financial Statements
<TABLE>
                   THE BEARD COMPANY AND SUBSIDIARIES
                            Balance Sheets
         September 30, 2000 (Unaudited) and December 31, 1999
<CAPTION>
                                                  September 30,    December 31,
                      Assets                           2000             1999
                                                  ------------     ------------
<S>                                               <C>              <C>
Current assets:
  Cash and cash equivalents                       $    221,000     $    767,000
  Investments                                                -          280,000
  Accounts receivable, less allowance for doubtful
   receivables of $42,000 in 2000 and $13,000
   in 1999                                             525,000          480,000
  Inventory                                            201,000          103,000
  Prepaid expenses and other assets                    200,000           98,000
  Current portion of notes receivable                   81,000           80,000
                                                  ------------     ------------
       Total current assets                          1,228,000        1,808,000
                                                  ------------     ------------
Notes receivable                                       801,000          756,000

Investments and other assets                           735,000        1,324,000

Property, plant and equipment, at cost               7,205,000        6,879,000
  Less accumulated depreciation, depletion and
   amortization                                      3,988,000        3,987,000
                                                  ------------     ------------
       Net property, plant and equipment             3,217,000        2,892,000
                                                  ------------     ------------
Intangible assets, at cost                              44,000           25,000
  Less accumulated amortization                          1,000            1,000
                                                  ------------     ------------
       Net intangible assets                            43,000           24,000
                                                  ------------     ------------
                                                  $  6,024,000     $  6,804,000
                                                  ============     ============
          Liabilities and Shareholders' Equity
Current liabilities:
  Trade accounts payable                          $    444,000     $    262,000
  Accrued expenses                                     822,000          606,000
  Current maturities of long-term debt                  21,000           17,000
                                                  ------------     ------------
       Total current liabilities                     1,287,000          885,000
                                                  ------------     ------------
Long-term debt less current maturities                 995,000           13,000

Other long-term liabilities                            342,000          351,000

Redeemable preferred stock of $100 stated value;
 5,000,000 shares authorized; 27,838 shares
 issued and outstanding (note 5)                       889,000          889,000

Common shareholders' equity:
  Common stock of $.001333 par value per share;
   7,500,000 shares authorized; 2,124,096 shares
   issued and outstanding in 2000 and 1999 (note 6)      3,000            3,000
  Capital in excess of par value                    37,723,000       37,723,000
  Accumulated deficit                              (33,353,000)     (31,218,000)
  Accumulated other comprehensive income (loss)        (16,000)           4,000
  Treasury stock, 295,251 shares, at cost in 2000
   and 1999 (note 6)                                (1,846,000)      (1,846,000)
                                                  ------------     ------------
       Total common shareholders' equity             2,511,000        4,666,000
                                                  ------------     ------------
Commitments and contingencies (note 8)
                                                  $  6,024,000     $  6,804,000
                                                  ============     ============
</TABLE>
See accompanying notes to financial statements.
<PAGE>

<TABLE>
                       THE BEARD COMPANY AND SUBSIDIARIES
                            Statements of Operations
                                   (Unaudited)
<CAPTION>
                                     For Three Months Ended      For Nine Months Ended
                                     ----------------------      ---------------------
                                    September 30, September 30, September 30, September 30,
                                         2000         1999         2000          1999
                                    ------------- ------------- ------------- -------------
<S>                                  <C>          <C>           <C>           <C>
Revenues:
 Coal reclamation                    $    61,000  $    49,000   $    84,000   $   841,000
 Carbon dioxide                          125,000       95,000       338,000       319,000
 China                                         -            -             -             -
 Environmental remediation                     -            -             -             -
 Natural gas well servicing                    -            -        65,000             -
 e-Commerce                                    -            -             -             -
 Other                                     6,000       13,000        21,000        43,000
                                     -----------  -----------   -----------   -----------
                                         192,000      157,000       508,000     1,203,000
                                     -----------  -----------   -----------   -----------
Expenses:
 Coal reclamation                        133,000      254,000       492,000       942,000
 Carbon dioxide                           33,000       19,000        69,000        73,000
 China                                         -            -             -             -
 Environmental remediation                11,000       40,000        92,000       142,000
 Natural gas well servicing                4,000            -        52,000             -
 e-Commerce                                    -            -             -             -
 Selling, general and administrative     442,000      470,000     1,484,000     1,580,000
 Depreciation, depletion &
  amortization                            28,000       23,000        82,000       227,000
 Other                                     7,000       17,000        29,000        63,000
                                     -----------  -----------   -----------   -----------
                                         658,000      823,000     2,300,000     3,027,000
                                     -----------  -----------   -----------   -----------
Operating profit (loss):
 Coal reclamation                        (97,000)    (238,000)     (535,000)     (417,000)
 Carbon dioxide                           84,000       68,000       245,000       222,000
 China                                  (100,000)     (61,000)     (291,000)     (219,000)
 Environmental remediation               (14,000)    (103,000)     (131,000)     (258,000)
 Natural gas well servicing              (57,000)           -      (133,000)            -
 e-Commerce                              (61,000)     (33,000)     (215,000)      (69,000)
 Other, primarily corporate             (221,000)    (299,000)     (732,000)   (1,083,000)
                                     -----------  -----------   -----------   -----------
                                        (466,000)    (666,000)   (1,792,000)   (1,824,000)
Other income (expense):
 Interest income                          41,000       48,000        98,000       168,000
 Interest expense                        (22,000)      (1,000)      (30,000)     (159,000)
 Minority interest in operations of
  subsidiary                                   -            -        16,000             -
 Gain on sale of assets                  196,000        2,000       206,000         5,000
 Equity in earnings of unconsolidated
  affiliates                            (200,000)      31,000      (584,000)      120,000
 Other                                     4,000     (176,000)        9,000      (104,000)
                                     -----------  -----------   -----------   -----------
Loss from continuing operations
 before income taxes                    (447,000)    (762,000)   (2,077,000)   (1,794,000)
Income taxes (note 7)                          -            -       (14,000)      (16,000)
                                     -----------  -----------   -----------   -----------
Loss from continuing operations         (447,000)    (762,000)   (2,091,000)   (1,810,000)

 Loss from discontinued operations       (44,000)     (29,000)      (44,000)      (93,000)
                                     -----------  -----------   -----------   -----------
Net loss                             $  (491,000) $  (791,000)  $(2,135,000)  $(1,903,000)
                                     ===========  ===========   ===========   ===========

Net loss per average common share outstanding:
 Basic and diluted:
    Loss from continuing operations  $     (0.24) $     (0.41)  $     (1.14)  $     (0.98)
    Loss from discontinued operations      (0.03)       (0.02)        (0.03)        (0.05)
                                     -----------  -----------   -----------   -----------
    Net loss                         $     (0.27) $     (0.43)  $     (1.17)  $     (1.03)
                                     ===========  ===========   ===========   ===========

Weighted average common shares outstanding -
 basic and diluted (note 6)            1,829,000    1,844,000     1,829,000     1,848,000
                                     ===========  ===========   ===========   ===========
</TABLE>
See accompanying notes to financial statements.
<PAGE>

<TABLE>
                       THE BEARD COMPANY AND SUBSIDIARIES
                       Statements of Shareholders' Equity
<CAPTION>
                                                                        Accumulated                  Total
                                            Capital in                    Other                     Common
                                    Common   Excess of    Accumulated  Comprehensive    Treasury   Shareholders'
                                     Stock   Par Value       Deficit      Income          Stock     Equity
                                    ------  ----------    -----------  -------------    --------   -------------
<S>                                 <C>      <C>          <C>            <C>          <C>          <C>
Balance, December 31, 1998          $ 3,000  $37,747,000  $(27,819,000)  $         -  $(1,544,000) $ 8,387,000

Net loss                                  -            -    (3,399,000)            -            -   (3,399,000)
Comprehensive income:
  Foreign currency translation
   adjustment                             -            -             -         4,000            -        4,000
                                                                                                   -----------
Comprehensive loss                                                                                  (3,395,000)
                                                                                                   -----------
Issuance of 3,760 shares of treasury
 stock for stock option exercises         -      (24,000)            -             -       24,000            -

Purchase of 86,275 shares of common
 stock                                    -            -             -             -     (326,000)    (326,000)
                                    -------  -----------  ------------   -----------  -----------  -----------
Balance, December 31, 1999          $ 3,000  $37,723,000  $(31,218,000)  $     4,000  $(1,846,000) $ 4,666,000

Net loss, nine months ended September
 30, 2000 (unaudited)                     -            -    (2,135,000)            -            -   (2,135,000)
Comprehensive loss:
  Foreign currency translation
   adjustment (unaudited)                 -            -             -       (20,000)           -      (20,000)
                                                                                                   -----------
Comprehensive loss (unaudited)                                                                      (2,155,000)
                                                                                                   -----------
                                    -------  -----------  ------------   -----------  -----------  -----------
Balance, September 30, 2000
 (unaudited)                        $ 3,000  $37,723,000  $(33,353,000)  $   (16,000) $(1,846,000) $ 2,511,000
                                    =======  ===========  ============   ===========  ===========  ===========
</TABLE>
See accompanying notes to financial statements.
<PAGE>

<TABLE>
                     THE BEARD COMPANY AND SUBSIDIARIES
                          Statements of Cash Flows
                                 (Unaudited)
<CAPTION>
                                                   For the Nine Months Ended
                                                   -------------------------
                                            September 30, 2000 September 30, 1999
                                            ------------------ ------------------
<S>                                            <C>             <C>
Operating activities:
 Cash received from customers                  $   2,167,000   $   7,451,000
 Cash paid to suppliers and employees             (4,073,000)     (8,222,000)
 Interest received                                    74,000         155,000
 Interest paid                                       (32,000)       (307,000)
 Taxes paid                                          (20,000)        (48,000)
                                               -------------   -------------
      Net cash used in operating activities       (1,884,000)       (971,000)
                                               -------------   -------------
Investing activities:
 Acquisition of property, plant and equipment       (268,000)       (985,000)
 Proceeds from sale of assets                        424,000          45,000
 Proceeds from redemptions of certificates of
  deposit                                            280,000               -
 Distribution from partnership                       230,000               -
 Investment in and advances to fifty percent-owned
  subsidiary                                        (343,000)       (608,000)
 Advances for notes receivable                      (302,000)       (891,000)
 Payments on notes receivable                        143,000         341,000
 Other                                               212,000         157,000
                                               -------------   -------------
      Net cash provided by (used in) investing
       activities                                    376,000      (1,941,000)
                                               -------------   -------------

Financing activities:
 Payments on line of credit and term notes           (63,000)       (246,000)
 Proceeds from notes                               1,025,000               -
 Purchase of treasury stock                                -        (326,000)
                                               -------------   -------------
      Net cash provided by (used in) financing
       activities                                    962,000        (572,000)
                                               -------------   -------------
Net decrease in cash and cash equivalents           (546,000)     (3,484,000)

Cash and cash equivalents at beginning of period     767,000       5,190,000
                                               -------------   -------------
Cash and cash equivalents at end of period     $     221,000   $   1,706,000
                                               =============   =============
</TABLE>

Continued

<TABLE>
                      THE BEARD COMPANY AND SUBSIDIARIES
                           Statements of Cash Flows
                                  (Unaudited)

Reconciliation of Net loss to Net Cash Used in Operating Activities
<CAPTION>
                                                For the Nine Months Ended
                                                -------------------------
                                            September 30, 2000 September 30, 1999
                                            ------------------ ------------------
<S>                                            <C>             <C>
Net loss                                       $  (2,135,000)  $  (1,903,000)
Adjustments to reconcile net loss to net cash
 used in operating activities:
 Depreciation, depletion and amortization             82,000         295,000
 Gain on sale of assets                             (206,000)        (13,000)
 Equity in net (income) loss of unconsolidated
  affiliates                                         584,000         (27,000)
 Impairment of investment and other assets                 -         152,000
 Net cash used by discontinued operations offsetting
  accrued impairment loss                           (180,000)       (347,000)
 Minority interest in operations of consolidated
  subsidiary                                         (16,000)              -
 Noncash compensation expense                          6,000               -
 Other                                                 1,000          (1,000)
 (Increase) decrease in accounts receivable,
  prepaid expenses and other current assets          (63,000)      1,282,000
 Decrease in inventories                               1,000         133,000
 Increase (decrease) in accounts payable, accrued
  expenses and other liabilities                      42,000        (542,000)
                                               -------------   -------------
 Net cash used in operating activities         $  (1,884,000)  $    (971,000)
                                               =============   =============

Supplemental Schedule of Noncash Investing and Financing Activities:
 Issuance of subsidiary common stock in exchange for
  ownership in applied-for patents             $      10,000   $           -
                                               =============   =============
 Exchange of coal extraction and beneficiation equipment
  for release of debt obligation               $           -   $  23,053,000
                                               =============   =============

 Sale of property, plant and equipment for
  notes receivable                             $           -   $      80,000
                                               =============   =============
</TABLE>
See accompanying notes to financial statements.
<PAGE>

                     THE BEARD COMPANY AND SUBSIDIARIES
                        Notes to Financial Statements

                         September 30, 2000 and 1999
                                 (Unaudited)

(1)  Summary of Significant Accounting Policies
     Basis of Presentation
  The accompanying financial statements and notes thereto have
  been prepared pursuant to the rules and regulations of the
  Securities and Exchange Commission.  Accordingly, certain
  disclosures normally prepared in accordance with generally
  accepted accounting principles have been omitted.  The
  accompanying financial statements and notes thereto should be
  read in conjunction with the audited consolidated financial
  statements and notes thereto included in The Beard Company's
  1999 annual report on Form 10-K.

  The accompanying financial statements include the accounts of
  The Beard Company and its wholly and majority-owned
  subsidiaries in which The Beard Company has a controlling
  financial interest ("Beard" or the "Company").  Subsidiaries
  and investees in which Beard does not exercise control are
  accounted for using the equity method.  All significant
  intercompany transactions have been eliminated in the
  accompanying financial statements.

  The financial information included herein is unaudited;
  however, such information reflects solely normal recurring
  adjustments which are, in the opinion of management, necessary
  for a fair presentation of the results for the interim periods
  presented.

  The results of operations for the three and nine-month periods
  ended September 30, 2000, are not necessarily indicative of
  the results to be expected for the full year.

  The Company's current significant operations are within the
  following segments:  (1) the Coal Reclamation ("Coal")
  Segment, (2) the Carbon Dioxide ("CO2") Segment, (3) the China
  ("China") Segment, (4) the Environmental Remediation ("ER")
  Segment, (5) the Natural Gas Well Servicing ("WS") Segment,
  and (6) the e-Commerce ("e-Commerce") Segment.

  The Coal Segment is in the business of operating coal fines
  reclamation and/or briquetting facilities in the U.S. and is
  pursuing the development of advanced fine coal preparation
  processes.  The CO2 Segment consists of the production of CO2
  gas.  The China Segment is pursuing (i) the sale of coal
  equipment, (ii) environmental opportunities, (iii) the sale of
  technical services, and (iv) the operation of coal fines
  reclamation facilities in China.  The ER Segment consists of
  services to remediate creosote and polycyclic aromatic
  hydrocarbon contamination.  The WS Segment is conducted by two
  companies operating in northeastern Mexico and consists of (i)
  a 50%-owned company (accounted for as an equity investment)
  involved in natural gas well testing operations, and (ii) a
  wholly-owned company that has designed a sand separator for
  use on natural gas wells and has had five of them custom
  fabricated for use on a trial basis.  The e-Commerce Segment
  consists of a 78%-owned subsidiary in the process of
  developing and executing an Internet payment system.

  As discussed in note 4, in April 1999, the Company's Board of
  Directors adopted a formal plan to discontinue its interstate
  travel facilities business (the "ITF" Segment).  As discussed
  in note 4, in December 1999 the Management Committee of NABR
  adopted a plan to discontinue its brine extraction/iodine
  manufacturing business which comprised the Company's ("BE/IM")
  Segment.

    Reclassifications
  Certain 1999 balances have been reclassified to conform to the
  2000 presentation.

(2)  Liquidity and Ability to Fund Operations
  In January 1999, the Company's primary source of revenues and
  cash flows was eliminated by the termination of the Operating
  Agreements with MCNIC (see note 3).  As a result of the
  termination of the plant operating agreements, the requirement
  to fund operating losses, and the decision to pursue other
  investment opportunities, the Company's working capital and
  cash and cash equivalents decreased significantly at September
  30, 2000 compared to September 30, 1999.  To mitigate
  potential liquidity problems, the Company obtained stand-by
  financing of $1.3 million in April 2000, of which $300,000 was
  from a commercial bank and $1 million was from an affiliate of
  the Company's chairman.  Subsequent to its original
  commitment, the bank extended the maturity date of its
  original credit line from April 2001 to January 2002 in
  exchange for a guaranty.  The affiliate furnished the
  guaranty, reduced its credit line to $700,000 and extended the
  term thereof from July 2001 to February 2002 at a fixed
  interest rate of 10%.  Through September 30, 2000, the Company
  had drawn down $700,000 of its available financing from this
  affiliate and $275,000 of its available financing from the
  commercial bank.  The Company also expects to generate cash
  from the disposition of assets of discontinued operations and
  from the sale of certain real estate holdings.

  The Company is focusing on replacing its Coal Segment's
  revenues.  In November 1999 the Company signed letters of
  intent with a large coal company and a Section 29 operator
  which called for the Company to build and operate two fine
  coal preparation plants to recover clean coal from two ponds
  and provide the feed stock for two briquetting plants (the
  "LOI Projects").  Due to limited availability of qualified
  Section 29 briquetters at reasonable prices, it presently
  appears unlikely that the LOI Projects will be finalized.

  Meanwhile, the Company has continued to pursue other
  reclamation projects. Beard Technologies, Inc. ("BTI")
  recently completed a coring job at a slurry pond in
  West Virginia.  However, the coal fines reserves were not as
  great as anticipated and the Fortune 500 company whichs owns the
  pond is now trying to decide whether or not to proceed with the
  installation of a preparation plant to recover clean coal from
  the pond.  As a result, BTI's letter of intent for this
  project is now on hold.  We are currently drilling 50 core
  holes at a large pond for a private company.  If
  the economics for recovery from this pond are as good as
  anticipated, BTI will be negotiating with the owner to install
  a preparation plant at the pond site, or alternatively, to
  become the plant operator if the owner decides to install its
  own plant.

  The Company's project financing plans for the Coal Segment are
  on hold pending the resolution of the two projects described
  above.  Meanwhile, working capital generated from the sale of
  assets is expected to be sufficient to meet the Company's
  working capital requirements through 2000.

(3)  Termination of MCNIC Agreements
  In June of 1998 the Company, through its wholly-owned
  subsidiary, BTI, entered into agreements with affiliates of
  MCNIC Pipeline & Processing Company ("MCNIC") pursuant to
  which BTI acquired coal fines extraction and beneficiation
  equipment located at six coal slurry impoundment sites for
  $24,000,000.  BTI financed the purchase with a $24,000,000
  loan from MCNIC.  BTI operated and maintained such equipment
  and six briquetting plants for affiliates of MCNIC under a
  cost-plus arrangement pursuant to which it received a minimum
  profit of $100,000 per month.  Effective January 31, 1999,
  MCNIC terminated the operating agreements and assumed
  ownership of the equipment, relieving BTI of its debt
  obligation to MCNIC.

(4)  Discontinued Operations
     BE/IM Segment
  In December 1999, the Management Committee of North American
  Brine Resources ("NABR") adopted a formal plan to discontinue
  the business and dispose of its assets.  Beard has a 40%
  ownership in NABR, which is accounted for under the equity
  method.  As a result of NABR's planned discontinuation,
  Beard's share of NABR's operating results have been reported
  as discontinued for all periods presented in the accompanying
  statements of operations.  Beard's share of NABR's operating
  results for the three and nine-month periods ended September
  30, 1999 were losses of $29,000 and $93,000, respectively.

  In December 1999, Beard recorded a $540,000 loss, which
  represents its share of NABR's $1,350,000 estimated loss
  expected from the discontinuation of operations.  NABR's loss
  included $778,000 related to the difference in the estimated
  amounts expected to be received from the assets' disposition
  and the assets' recorded values as of December 31, 1999, and
  $572,000 related to anticipated operating losses through April
  2000 (the date operations ceased) and costs of ceasing
  operations.  NABR's actual losses for the three and nine-month
  periods ended September 30, 2000 were $139,000 and $276,000
  respectively, the Company's share of which was charged against
  the loss accrual recorded in 1999.

  Pursuant to an agreement executed among the partners effective
  as of September 15, 2000, the majority of the assets and
  liabilities of the partnership were distributed to Beard.  The
  partnership will be dissolved when the proceeds from the sale
  of the inventory are received and the final distribution made
  to the former partners.  The Company received assets
  consisting of cash, accounts receivable, and fixed assets
  totaling $441,000 and liabilities consisting primarily of
  accounts payable and accrued expenses totaling $348,000.  As
  of September 30, 2000, Beard's remaining investment in NABR
  was $66,000.

    ITF Segment
  On April 9, 1999, the Company's Board of Directors adopted a
  formal plan to discontinue its interstate travel facilities
  ("ITF") Segment and recorded a $1,603,000 estimated loss for
  the discontinuance in 1998.  In April 1999, Beard entered into
  an agreement with ITF and its minority shareholders which
  failed to close.  In September 1999 Beard, ITF and the
  minority shareholders entered into new agreements which were
  completed on November 18, 1999.  As a result of the
  transaction, ITF disposed of a majority of its assets, and was
  relieved of its outstanding debt of $2,149,000 and accounts
  payable of $126,000, retained two convenience stores ("C-
  stores"), including their equipment and inventory, and Beard
  became 100% owner of ITF.

  In the fourth quarter of 1999, Beard recorded an additional
  $214,000 loss related to the discontinued ITF Segment.  This
  loss included $180,000 related to additional expected
  operating losses of ITF through the disposal date of the
  remaining assets; and $34,000 related to a further reduction
  in the estimated realizable value of the remaining C-stores as
  of December 31, 1999.  Revenues from the discontinued ITF
  Segment were $534,000 and $1,653,000, respectively, for the
  three and nine-month periods ended September 30, 2000.  ITF's
  actual operating losses for the three and nine-month periods
  ended September 30, 2000 were $75,000 and $224,000,
  respectively.  The actual losses for the three and nine-month
  periods ended September 30, 2000 were charged against the loss
  accrual recorded in the fourth quarter of 1999.  The Company
  recorded an additional loss of $44,000 in the third quarter of
  2000.

  As of September 30, 2000, the assets related to the ITF
  Segment consist primarily of cash, accounts receivable,
  inventory, prepaid expenses and the two remaining C-stores
  with a total recorded value of $1,051,000.  The significant
  liabilities of the segment consist of trade accounts payable
  and accrued expenses totaling $116,000.  Beard is actively
  seeking opportunities to sell the remaining C-stores and
  expects the C-stores to be sold by mid-year 2001.

(5)  Redeemable Preferred Stock
  The Company's preferred stock is mandatorily redeemable
  through December 31, 2002, from one-third of Beard's
  "consolidated net income" as defined.  Accordingly, one-third
  of future "consolidated net income" will accrete directly to
  preferred stockholders and reduce earnings per common share.
  The Company's 2000 operations through September 30 were not
  sufficient to begin the sharing of consolidated net income.
  To the extent that the preferred stock is not redeemed by
  December 31, 2002, the shares of preferred stock can be
  converted into shares of the Company's common stock.

(6)  Loss Per Share
  Basic loss per share data is computed by dividing loss
  attributable to common shareholders by the weighted average
  number of common shares outstanding for the period.

  Diluted loss per share in the statements of operations exclude
  potential common shares issuable upon conversion of redeemable
  preferred stock or exercise of stock options as a result of
  losses from continuing operations for all periods presented.

  The number of shares outstanding, the number of treasury
  shares and the weighted average number of common shares
  outstanding for all periods presented have been restated to
  give effect to a three-for-four reverse stock split effective
  as the close of business on September 20, 2000.

(7)  Income Taxes
  In accordance with the provisions of the Statement of
  Financial Accounting Standard No. 109,  "Accounting for Income
  Taxes" ("SFAS No. 109"), the Company's net deferred tax asset
  is being carried at zero book value, which reflects the
  uncertainties of the Company's utilization of the future net
  deductible amounts.  The Company made no provision for income
  taxes for the three months ended September 30, 2000.  The
  provision for income taxes for the nine-month period ended
  September 30, 2000 consists of federal alternative minimum tax
  of $14,000.  The Company recorded a $16,000 provision for
  alternative minimum taxes for the nine months ended September
  30, 1999.

  At September 30, 2000, the Company estimates that it had the
  following income tax carryforwards available for both income
  tax and financial reporting purposes (in thousands):

<TABLE>
<CAPTION>
                                  Expiration
                                     Date      Amount
                                  ----------   ------
<S>                               <C>          <C>
Federal regular tax
 operating loss carryforwards     2004-2009    $ 52,416

Investment tax credit
 carryforward                     2000         $    104

Tax depletion carryforward        Indefinite   $  5,500
</TABLE>

(8)  Commitments and Contingencies
  In the normal course of business various actions and claims
  have been brought or asserted against the Company.  Management
  does not consider them to be material to the Company's
  financial position, liquidity or results of operations.

  The Company is a guarantor of an 11%, $535,000 promissory note
  to a bank.  The note is an obligation of ITS-Testco, the
  Company's 50%-owned equity investment engaged in well testing
  operations in northeastern Mexico.  The note's due date has
  been extended until December 2000 and is separately guaranteed
  in full by the other 50% corporate owner of the joint venture
  and the owners of that company, as individuals.

(9)  Business Segment Information
  The Company manages its business by products and services and
  by geographic location (by country).  The Company evaluates
  its operating segments' performance based on earnings or loss
  from operations before income taxes.  The Company had five
  reportable segments during the three and nine-month periods
  ended September 30, 2000 and 1999: Coal, Carbon Dioxide,
  China, Natural Gas Well Servicing, and Environmental
  Remediation.

  The Coal Segment is in the business of operating coal fines
  reclamation and/or briquetting facilities in the U.S. and is
  pursuing the development of advanced fine coal preparation
  processes.  The Carbon Dioxide Segment consists of the
  production of CO2 gas.  The China Segment is pursuing (i) the
  sale of coal equipment, (ii) environmental opportunities,
  (iii) the sale of technical services, and (iv) the operation
  of coal fines reclamation facilities in China.  The Natural
  Gas Well Servicing Segment is conducted by two companies
  operating in northeastern Mexico and consists of (i) a 50%-
  owned company (accounted for as an equity investment) involved
  in natural gas well testing operations and (ii) a wholly-owned
  company that has designed a sand separator for use on natural
  gas wells and has had five custom fabricated for use on a
  trial basis.  The Environmental Remediation Segment consists
  of services to remediate creosote and polycyclic aromatic
  hydrocarbon contamination.

  The following is certain financial information regarding the
  Company's reportable segments (presented in thousands of
  dollars).  The information contained in "Other" relates to the
  Company's e-Commerce Segment and consists of start-up costs.

  General corporate assets and expenses are not allocated to any
  of the Company's operating segments; therefore, they are
  included as a reconciling item to consolidated total assets
  and loss from continuing operations before income taxes
  reported in the Company's accompanying financial statements.

<TABLE>
<CAPTION>
                                                       Natural
                            Carbon      Environmental Gas Well
                    Coal   Dioxide China Remediation  Servicing  Other  Total
                    ----   ------- ----- -----------  ---------  -----  -----
<S>                 <C>    <C>     <C>   <C>          <C>        <C>    <C>
Three months ended
------------------
September 30, 2000
------------------
Revenues from
 external customers $ 61   $ 125   $   -  $     -     $   50     $   -  $  236
Segment profit
 (loss)              (97)     84    (100)     (14)      (572)      (63)   (762)

Three months ended
------------------
September 30, 1999
------------------
Revenues from
 external customers $ 49   $  95   $   -  $     -     $  628     $   -  $  772
Segment profit
 (loss)             (232)     68     (61)     (88)       (96)      (33)   (442)

Nine months ended
-----------------
September 30, 2000
------------------
Revenues from
 external customers$  84   $ 338   $   -  $     -     $  284     $   -  $  706
Segment profit
 (loss)             (537)    245    (291)    (131)    (1,703)     (215) (2,632)
Segment assets     1,699     455       -        7      1,894        59   4,114

Nine months ended
-----------------
September 30, 1999
------------------
Revenues from
 external customers$ 841   $ 319   $   -  $     -    $ 1,528     $   -  $2,688
Segment profit
 (loss)             (557)    286    (219)    (258)      (177)      (69)   (994)
Segment assets     1,495     558       -       10      2,798         -   4,861
</TABLE>

  Reconciliation of total reportable segment loss to
  consolidated loss from continuing operations before income
  taxes is as follows for the three and nine months ended
  September 30, 2000 and 1999 (in thousands):

<TABLE>
<CAPTION>
                              For the Three Months For the Nine Months
                                     Ended                Ended
                              -------------------- -------------------
                              September  September September September
                              30, 2000   30, 1999  30, 2000  30, 1999
                              ---------  --------- --------- ---------
<S>                           <C>        <C>       <C>       <C>
Total loss for
 reportable segments          $  (762)   $  (442)  $(2,632)  $  (994)
Eliminate loss
 from Natural Gas Well
 Servicing operations
 accounted for as an
 equity investment                529         96     1,585       177
Equity in loss
 from Natural Gas Well
 Servicing operations
 accounted for as an
 equity investment               (264)       (48)     (792)      (86)
Net corporate costs not
 allocated to segments             50       (368)     (238)     (891)
                              -------    -------   -------   -------
   Total consolidated
    loss from
    continuing operations
    before income taxes       $  (447)   $  (762)  $(2,077)  $(1,794)
                              =======    =======   =======   =======
</TABLE>

               THE BEARD COMPANY AND SUBSIDIARIES

         DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

  THIS REPORT INCLUDES "FORWARD-LOOKING STATEMENTS" WITHIN THE
MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, AS AMENDED,
AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED.  ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL
FACTS INCLUDED OR INCORPORATED BY REFERENCE IN THIS REPORT,
INCLUDING, WITHOUT LIMITATION, STATEMENTS REGARDING THE COMPANY'S
FUTURE FINANCIAL POSITION, BUSINESS STRATEGY, BUDGETS, PROJECTED
COSTS AND PLANS AND OBJECTIVES OF MANAGEMENT FOR FUTURE
OPERATIONS, ARE FORWARD-LOOKING STATEMENTS.  IN ADDITION, FORWARD-
LOOKING STATEMENTS GENERALLY CAN BE IDENTIFIED BY THE USE OF
FORWARD-LOOKING TERMINOLOGY SUCH AS "MAY," "WILL," "EXPECT,"
"INTEND," "PROJECT," "ESTIMATE," "ANTICIPATE," "BELIEVE," OR
"CONTINUE" OR THE NEGATIVE THEREOF OR VARIATIONS THEREON OR
SIMILAR TERMINOLOGY.  ALTHOUGH THE COMPANY BELIEVES THAT THE
EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE
REASONABLE, IT CAN GIVE NO ASSURANCE THAT SUCH EXPECTATIONS WILL
PROVE TO HAVE BEEN CORRECT.  IMPORTANT FACTORS THAT COULD CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S
EXPECTATIONS ("CAUTIONARY STATEMENTS") ARE DISCLOSED UNDER "ITEM
2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS" AND ELSEWHERE IN THIS REPORT.  ALL
SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS
ATTRIBUTABLE TO THE COMPANY, OR PERSONS ACTING ON ITS BEHALF, ARE
EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THE CAUTIONARY
STATEMENTS.  THE COMPANY ASSUMES NO DUTY TO UPDATE OR REVISE ITS
FORWARD-LOOKING STATEMENTS BASED ON CHANGES IN INTERNAL ESTIMATES
OR EXPECTATIONS OR OTHERWISE.

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

  The following discussion focuses on material changes in the
Company's financial condition since December 31, 1999 and results
of operations for the quarter ended September 30, 2000 compared
to the prior year third quarter and the nine months ended
September 30, 2000 compared to the prior year nine months.  Such
discussion should be read in conjunction with the Company's
financial statements including the related footnotes.

  In preparing the discussion and analysis, the Company has
presumed readers have read or have access to the discussion and
analysis of the prior year's results of operations, liquidity and
capital resources as contained in the Company's 1999 Form 10-K.

  The Company's current significant operations are within the
following segments:  (1) the coal reclamation ("Coal") Segment,
which is in the business of operating coal fines reclamation
and/or briquetting facilities in the U.S. and is pursuing the
development of advanced fine coal preparation processes; (2) the
carbon dioxide ("CO2") Segment, comprised of the production of
CO2 gas; (3) the natural gas well servicing ("WS") Segment,
conducted by two companies operating in northeastern Mexico,
comprised of:  (i) a 50%-owned company (accounted for as an
equity investment) involved in natural gas well testing
operations, and (ii) a 100%-owned company that has designed a
sand separator for use on gas wells; (4) the environmental
remediation ("ER") Segment, consisting of the remediation of
polycyclic aromatic hydrocarbon ("PAH") contamination; (5) the
China ("China") Segment, which is pursuing (i) the sale of coal
equipment, (ii) environmental opportunities, (iii) the sale of
technical services, and (iv) the operation of coal fines
reclamation facilities in China; and (6) the e-Commerce ("e-
Commerce") Segment, consisting of the development and
implementation of systems and technologies related to Internet
commerce.

  In April 1999 the Company adopted a plan to discontinue its
"ITF" Segment, and those operations were reflected as
discontinued operations in 1998.  The majority of the assets of
the ITF Segment were disposed of in November 1999 and the Company
is pursuing the sale of the remaining assets.  In December 1999
the Company adopted a plan to discontinue its "BE/IM" Segment,
and those operations were reflected as discontinued operations in
1999.  The Company is now in the process of liquidating those
assets.

Material changes in financial condition - September 30, 2000 as
compared with December 31, 1999.

  The following table reflects changes in the Company's
financial condition during the periods indicated:

<TABLE>
<CAPTION>
                       September 30, December 31,  Increase
                            2000        1999      (Decrease)
                       ------------- ------------ ----------
<S>                       <C>         <C>         <C>
Cash and cash equivalents $ 221,000   $ 767,000   $(546,000)

Working capital           $ (59,000)  $ 923,000   $(982,000)

Current ratio               .95 to 1    2.04 to 1
</TABLE>

  During the first nine months of 2000, the Company reduced its
working capital by $982,000 from $923,000 as of December 31,
1999.  $145,000 of the decrease was attributable to purchases of
equipment by the Coal Segment. $42,000 of working capital was
used to pay for equipment utilized by the Company's subsidiary
which rents sand separators in northeastern Mexico.  There were
net advances of $343,000 to the Company's joint venture involved
in natural gas well testing in northeastern Mexico.  $131,000,
$291,000 and $215,000, respectively, were used to fund the
startup activities of the E/R, China and e-Commerce Segments.
The Company received proceeds from the sale of assets totaling
$424,000 for the nine months partially offsetting the above de-
creases in working capital.  The remainder of the working capital
was utilized to fund other operations.

  Termination of the agreements to operate the MCNIC coal fines
projects effective January 31, 1999 (see Note 3 to the
accompanying financial statements) had a material detrimental
effect upon the Company's profitability during the first quarter
of 1999 as well as the subsequent periods.  In November 1999 the
Company signed letters of intent with a large coal company and a
Section 29 operator which called for the Company to build and
operate two fine coal preparation plants to recover clean coal
from two ponds and provide the feed stock for two briquetting
plants (the "LOI Projects").  Due to limited availability of
qualified Section 29 briquetters at reasonable prices, it
presently appears unlikely that the LOI Projects will be
finalized.

  Meanwhile, the Company has continued to pursue other
reclamation projects.  Beard Technologies, Inc. ("BTI") recently
completed a coring job at a slurry pond in West Virginia.
However, the coal fines reserves were not as great as anticipated
and the Fortune 500 company which owns the pond is now trying to
decide whether or not to proceed with the installation of a
preparation plant to recover clean coal from the pond.  As a
result, BTI's letter of intent for this project is now on hold.
We are currently drilling 50 core holes at a large pond for a
private company.  If the economics for recovery from this
pond are as good as anticipated, BTI will be negotiating with the
owner to install a preparation plant at the pond site, or
alternatively, to become the plant operator if the owner decides
to install its own plant.

  The Company's project financing plans for the Coal Segment are
on hold pending the resolution of the two projects described
above.  Meanwhile, working capital generated from the sale of
assets is expected to be sufficient to meet the Company's working
capital requirements through 2000.  Such assets are composed
primarily of the remaining assets of the discontinued ITF and
BE/IM Segments.  The discontinuance of these segments will
benefit liquidity by generating cash from the liquidation of the
assets and by eliminating the funding of losses resulting from
the operations of the ITF Segment.

  The Company's future cash flows and availability of credit are
subject to a number of variables, including demand for the
Company's coal reclamation services and technology, continuing
demand for CO2 gas and the services provided by the Company's WS
Segment, private and governmental demand for environmental
remediation services, demand for the services and technology
being offered in China, and the degree to which the Company is
successful in bringing its Internet technology to a favorable
conclusion.  The Company anticipates that its current resources
are sufficient to enable it to fund its operations through 2000.

  Through the period ending December 31, 2002, the Company's
liquidity will be reduced to the extent it is required to redeem
any of the Beard preferred stock pursuant to the mandatory
redemption provisions.  See Note 5 to the accompanying financial
statements.

Material changes in results of operations - Quarter ended
September 30, 2000 as compared with the Quarter ended September
30, 1999.

  The net loss for the quarter ended September 30, 2000 was
$491,000, compared to a net loss of $791,000 for the third
quarter of the prior year.  Discontinued operations accounted for
$44,000 of the loss in the third quarter of 2000 compared to
$29,000 for the same period in 1999.  The Coal Segment reported a
$141,000 decrease in operating loss for the quarter.  The CO2
Segment had a $16,000 increase in its operating margin due
primarily to a slight increase in revenue from its interests in
the McElmo Dome field.  The operating loss in China increased
$39,000 to $100,000 for the third quarter of 2000 compared to the
same period in 1999.  There was an $89,000 reduction in the
operating loss of the ER Segment for the third quarter of 2000
compared to the third quarter of 1999.  The operating loss of the
WS Segment increased $57,000 in the current quarter compared to
the same period in 1999.  The new e-Commerce Segment incurred
operating losses of $61,000 for the third quarter of 2000
compared to $33,000 in the third quarter of 1999.  The operating
loss in Other activities for the third quarter of 2000 decreased
$78,000 compared to the same period in 1999.  As a result, the
operating loss in the third quarter of 2000 was $200,000 smaller
than in the same period in 1999.

  Operating results of the Company's primary operating Segments
are reflected below:

<TABLE>
<CAPTION>
                                               2000         1999
                                               ----         ----
             <S>                            <C>          <C>
             Operating profit (loss):
               Coal reclamation             $ (97,000)   $(238,000)
               Carbon dioxide                  84,000       68,000
               China                         (100,000)     (61,000)
               Environmental remediation      (14,000)    (103,000)
               Natural gas well servicing     (57,000)           -
               e-Commerce                     (61,000)     (33,000)
                                            ---------    ---------
                   Subtotal                  (245,000)    (367,000)
               Other                         (221,000)    (299,000)
                                            ---------    ---------
                    Total                   $(466,000)   $(666,000)
                                            =========    =========
</TABLE>

  The "Other" in the above table reflects primarily general and
corporate activities, as well as other activities and investments
of the Company.

Coal reclamation

  As discussed in Note 3 to the accompanying financial
statements, since April 1998, the Company had been operating six
coal slurry impoundment sites for a subsidiary of a large
midwestern utility company under a cost-plus arrangement which
guaranteed the Company a minimum profit of $100,000 per month.
The arrangement was terminated on January 31, 1999.  The CR
Segment generated operating losses of $97,000 and $238,000 for
the third quarter of 2000 and 1999, respectively, reflecting the
effects of the termination of this contract while maintaining its
corporate staff as it continued to pursue new reclamation
contracts.

Carbon dioxide

  Third quarter 2000 operations reflected an operating profit of
$84,000 compared to $68,000 in the 1999 third quarter.  The sole
component of revenues for this segment is the sale of CO2 gas
from the working and overriding royalty interests of the
Company's two carbon dioxide producing units in Colorado and New
Mexico.  Operating revenues in this segment increased $30,000 or
32% to $125,000 for the third quarter of 2000 compared to $95,000
for the same period in 1999.

China

  The operating loss of the China Segment increased to $100,000
in the current quarter versus $61,000 in the 1999 third quarter
as Beard Sino-American Resources Co., Inc. stepped up its level
of activity to promote centrifuge sales and the installation of
composting facilities.

Environmental remediation

  The subsidiary which comprises this segment utilizes a
chemical for which it is the sole U.S. licensee of a process for
the remediation of creosote and PAH contamination.  The ER
Segment generated an $89,000 smaller operating loss in the third
quarter of 2000 as compared with the same period in 1999.  The
segment recorded no revenues in the third quarter of 2000 or
1999.  Since 1997 personnel employed in the segment have been
attempting to develop a market for the process and the chemical
product involved by demonstrating the benefits of the process to
potential customers.  The subsidiary incurred less operating and
SG&A costs as its marketing budget was decreased due to lack of
sales.

Natural gas well servicing

  The operations of both of the companies comprising the WS
Segment, which conduct natural gas well servicing operations in
northeastern Mexico, were suspended in late January 2000 after
contracts with Petroleos Mexicanos ("Pemex") were allowed to
expire by Pemex rather than being "rolled over" as has been the
practice in the past.  The two companies were unsuccessful
bidders as subcontractors to Schlumberger on two new contracts
for Pemex in August.  However, the well testing company is
currently negotiating to participate in an existing contract
which Schlumberger has with Pemex and put four of its eight units
to work.  The sand separator company and Schlumberger are
negotiating with Pemex on a contract that could put the company's
five separators to work.  The results of these negotiations will
determine whether or not the two companies will continue to
operate in Mexico.  If the negotiations are not successful, the
companies will move their equipment back to the U.S. where there
is a strong market for this type of equipment due to the
resurgence of gas prices.

  The WS Segment, including the sand separator company which was
formed late in the third quarter of 1999, incurred an operating
loss of $57,000 for the third quarter of 2000.  The Company's
share of the loss for its 50%-owned natural gas well testing
investee was $264,000 for the third quarter of 2000 versus a
loss of $48,000 for the same period in 1999, with the suspension
of operations accounting for the deterioration in results.

e-Commerce

  The Company's startup company involved in the development of a
secure Internet purchasing system incurred an operating loss of
$61,000 in the third quarter of 2000 versus an operating loss of
$33,000 in the prior year quarter reflecting the stepup in its
activity level as it pursues its development strategy.
starpay.com, inc. has temporarily put its pursuit of venture
capital funding on hold.  starpay's revised strategy is to pursue
the development of an Internet-only credit card product using
existing transaction infrastructure as a backbone.  Meanwhile it
has been pursuing a strategic alliance with a regional banking
group which has indicated strong interest in moving forward with
product development.

Other activities

  Other operations, consisting principally of general and
corporate activities, generated a $78,000 reduction in the loss
for the third quarter of 2000 compared to the same period in
1999.  The Company was able to achieve cost reductions in many
areas, primarily salaries and benefits expense, insurance costs,
and contract labor.

Selling, general and administrative expenses

  The Company's selling, general and administrative expenses
("SG&A") were $28,000 less in the third quarter of 2000 compared
to the same period in 1999.  The Coal Segment had a decrease in
SG&A expenses of $5,000 due to a reduction in personnel.  The
China Segment incurred increased SG&A expenses of $39,000 as the
Company accelerated efforts to secure contracts in China.  The WS
Segment's SG&A expenses decreased $6,000 for the third quarter of
2000 compared to the same period in 1999.  The e-Commerce Segment
incurred an additional $28,000 in SG&A expenses as the segment
pursued the market for its technology.  The ER Segment incurred
decreased SG&A expenses of $19,000 for the third quarter of 2000
compared to 1999 as a result of a reduction in its marketing
budget.  Other operations, primarily corporate, incurred
approximately $65,000 less in SG&A for the third quarter of 2000
compared to the same period in 1999.

Depreciation, depletion and amortization expenses

  The third quarter of 2000 reported an increase in DD&A expense
of $5,000, reflecting additions to property, plant and equipment
made since September 30, 1999, primarily in the Coal Segment.

Other income and expense

    Other income and expenses netted to income of $19,000 for
the third quarter of 2000, up sharply from the $96,000 loss
recorded for such items in the same period of 1999.  Interest
income was down $7,000 for the third quarter of 2000 compared to
the same period in 1999 primarily as a result of the reduction in
cash available for investment.  Interest expense was up $21,000
reflecting the Company's increased level of indebtedness.  The
Company realized an increase of $194,000 in gain on sale of
assets primarily as a result of the sale of the property owned by
a real estate partnership in which the Company had an interest.
The Company recorded a loss of $264,000 for the third quarter of
2000 compared to a loss of $48,000 for the same period in 1999 on
its investment in an entity engaged in natural gas well testing
operations in northeastern Mexico.  The operations of this entity
were severely curtailed in January 2000 as Pemex allowed the
contracts for its subcontractors providing services to expire
rather than have them automatically renew.  The contracts had not
been renewed through the third quarter of 2000.  See the
discussion regarding the WS Segment above.  The Company's equity
in the earnings of Cibola decreased $8,000 from $78,000 for the
third quarter of 1999 to $70,000 for the same period in 2000
reflecting losses on certain outside investments by Cibola.  The
third quarter of 1999 was negatively impacted by an impairment of
$110,000 relating to the Company's investment in a company manufacturing
the chemical used by its subsidiary in the ER Segment and an impairment
of $42,000 relating to the license rights owned by that subsidiary
with no comparable adjustments in the third quarter of 2000.

Income taxes

  The Company made no provision for income taxes in either the
third quarter of 2000 or the same period in 1999.  The Company
has not recorded any financial benefit attributable to its
various tax carryforwards due to uncertainty regarding their
utilization and realization.

Discontinued operations

  In December 1999, the Management Committee of North American
Brine Resources ("NABR") adopted a formal plan to discontinue the
business and dispose of its assets.  Beard has a 40% ownership in
NABR, which was accounted for under the equity method.  As a
result of NABR's planned discontinuation, Beard's share of NABR's
operating results have been reported as discontinued for all
periods presented in the accompanying statements of operations.
Beard's share of NABR's operating results was a $29,000 loss for
the 1999 third quarter.

  In December 1999, Beard recorded a $540,000 loss, which
represented its share of NABR's $1,350,000 estimated loss
expected from the discontinuation of operations.  $778,000 of
NABR's loss represented the difference in the estimated amounts
expected to be received from the assets' disposition and the
assets' recorded values as of December 31, 1999.  $572,000 of
NABR's loss represented anticipated operating losses through
April 2000 (the date operations ceased) and the estimated costs
of ceasing operations.  NABR's actual loss for the three months
ended September 30, 2000 was $139,000, the Company's share of
which was charged against the loss accrual it recorded in 1999.
See Note 4 to the accompanying financial statements.

  Pursuant to an agreement executed among the partners effective
as of September 15, 2000, the majority of the assets and
liabilities of NABR were distributed to Beard.  The partnership
will be dissolved when the proceeds from the sale of the
inventory are received and the final distribution made to the
former partners.  The Company received assets consisting of cash,
accounts receivable, and fixed assets totaling $441,000 and
liabilities consisting primarily of accounts payable and accrued
expenses totaling $348,000.  As of September 30, 2000, Beard's
remaining investment in NABR was $66,000.

Material changes in results of operations - Nine months ended
September 30, 2000 as compared with the Nine months ended
September 30, 1999.

  The net loss for the nine months ended September 30, 2000 was
$2,135,000, compared to a net loss of $1,903,000 for the first
nine months of the prior year.  Continuing operations posted a
net loss of $2,091,000 after taxes of $14,000 compared to a loss
from continuing operations of $1,810,000 after taxes of $16,000
for the same period in 1999.  Discontinued operations accounted
for $44,000 of the net loss for the 2000 period versus $93,000 in
the 1999 period.

  Operating results of the Company's primary operating segments
are reflected below:

<TABLE>
<CAPTION>
                                         2000           1999
                                         ----           ----
          <S>                       <C>             <C>
          Operating profit (loss):
            Coal reclamation        $  (535,000)    $  (417,000)
            Carbon dioxide              245,000         222,000
            China                      (291,000)       (219,000)
            Environmental remediation  (131,000)       (258,000)
            Natural gas well servicing (133,000)              -
            e-Commerce                 (215,000)        (69,000)
                                    -----------     -----------
               Subtotal              (1,060,000)       (741,000)
            Other                      (732,000)     (1,083,000)
                                    -----------     -----------
                 Total              $(1,792,000)    $(1,824,000)
                                    ===========     ===========
</TABLE>

  The "Other" in the above table reflects primarily general and
corporate activities, as well as other activities and investments
of the Company.

Coal reclamation

  As discussed in Note 3 to the accompanying financial
statements, since April of 1998 the Company had been operating
six coal slurry impoundment sites for a subsidiary of a large
midwestern utility company under a cost-plus arrangement which
guaranteed the Company a minimum operating profit of $100,000 per
month.  The arrangement was terminated on January 31, 1999.  The
$118,000 increase in the operating loss for the first nine months
of 2000 compared to the same period in 1999 reflects the effect
of losing the guaranteed profit realized from these contracts for
nine months in 2000, versus having eight months of such losses
plus one month of profit in 1999.

Carbon dioxide

  Operations for the first nine months of 2000 resulted in an
operating profit of $245,000 compared to a $222,000 operating
profit for the first nine months of 1999.  The sole component of
revenues for this segment is the sale of CO2 gas from the working
and overriding royalty interests of the Company's two carbon
dioxide producing units in Colorado and New Mexico.  Operating
revenues in this segment increased $19,000 or 6% to $338,000 for
the first nine months of 2000 compared to $319,000 for the same
period in 1999.  The Company recorded $4,000 less in operating
costs associated with the properties in the first nine months of
2000 compared to the same period in 1999.  While production
volumes for the field increased for the first nine months of 2000
compared to the same period in 1999, paid volumes to the
Company's interest decreased as the Company reduced its
overproduced status.

China

  The operating loss of the China Segment increased to $291,000
in the current nine months versus $219,000 in the 1999 first nine
months as Beard Sino-American Resources Co., Inc. stepped up its
level of activity to promote centrifuge sales and the
installation of composting facilities.

Environmental remediation

  The ER Segment's operating loss decreased $127,000 to $131,000
for the first nine months of 2000 compared to $258,000 for the
same period in 1999.  The segment recorded no revenues in the
first nine months of 2000 or 1999.  Personnel employed in the
segment have been attempting to expand the market for the process
and the chemical product involved by demonstrating the benefits
of the process to potential customers.  The segment incurred less
operating and SG&A costs in the current nine months period as its
marketing budget was decreased due to lack of sales.

Natural gas well servicing

  The operations of both of the companies comprising the WS
Segment, which conduct natural gas well servicing operations in
northeastern Mexico, were suspended in late January, 2000 after
contracts with Petroleos Mexicanos ("Pemex") were allowed to
expire by Pemex rather than being "rolled over" as has been the
practice in the past. The two companies were unsuccessful bidders
as subcontractors to Schlumberger on two new contracts for Pemex
in August.  However, the well testing company is currently
negotiating to participate in an existing contract which
Schlumberger has with Pemex and put four of its eight units to
work.  The sand separator company and Schlumberger are
negotiating with Pemex on a contract that could put the company's
five separators to work.  The results of these negotiations will
determine whether or not the two companies will continue to
operate in Mexico.  If the negotiations are not successful, the
companies will move their equipment back to the U.S. where there
is a strong market for this type of equipment due to the
resurgence of gas prices.

  The WS Segment, including the sand separator company which was
formed late in the third quarter of 1999, incurred an operating
loss of $133,000 for the nine months ended September 30, 2000.
The Company's share of the loss for its 50%-owned natural gas
well testing investee was $792,000 for the first nine months of
2000 versus a loss of $86,000 for the same period in 1999, with
the suspension of operations accounting for the deterioration in
results.

e-Commerce

  The Company's startup company involved in the development of a
secure Internet purchasing system incurred an operating loss of
$215,000 for the first nine months of 2000 versus an operating
loss of $69,000 in the prior year period reflecting the stepup in
its activity level as it pursues its development strategy.
starpay.com, inc. has temporarily put its pursuit of venture
capital funding on hold.  starpay's revised strategy is to pursue
the development of an Internet-only credit card product using
existing transaction infrastructure as a backbone.  Meanwhile it
has been pursuing a strategic alliance with a regional banking
group which has indicated strong interest in moving forward with
product development.

Other activities

  Other operations, consisting principally of general and
corporate activities, generated a $351,000 reduction in the
operating loss for the first nine months of 2000 as compared to
the same period last year.  Reasons for the decreased loss
include a reduction of $45,000 in legal costs, primarily those
associated with the McElmo Dome Litigation, decreases in salary
and related costs of $137,000, decreases in contract labor costs
of $43,000, and reductions in several other expense categories as
the Company found ways to reduce costs.

Selling, general and administrative expenses

  The Company's selling, general and administrative expenses
("SG&A") in the first nine months of 2000 decreased to $1,484,000
from $1,580,000 for the first nine months of 1999.  The Coal
Segment had a decrease in SG&A expenses of $48,000 due primarily
to reductions in staff and other expenses.  The China Segment had
an increase of $71,000 of SG&A costs while segment personnel
accelerated their efforts to secure contracts in China.  The ER
Segment's SG&A decreased $33,000 for the nine months of 2000
compared to the same period in 1999 as personnel found ways to
reduce costs as they continued to seek a market for the products
and services of the segment.  The WS Segment incurred $20,000
more SG&A expenses for the nine months of 2000 compared to the
same period of the prior year as personnel in Mexico continued to
pursue the contracts with Pemex and other subcontractors in the
region.  The new e-Commerce Segment incurred $145,000 in
additional SG&A costs as segment personnel sought partners to
develop the technology involved with the Internet purchasing
system.  Other operations incurred approximately $251,000 less in
SG&A for the nine months of 2000 compared to the same period in
1999 primarily as a result of decreased legal costs and the
reduction in other expenses discussed above.

Depreciation, depletion and amortization expenses

  DD&A expense decreased $145,000 from $227,000 to $82,000 for
the nine months of 1999 compared to the same period in 2000,
reflecting primarily a $133,000 reduction in depreciation on coal
fines extraction and beneficiation equipment in the Coal Segment
during the past year.  On March 19, 1999, the Company assigned
all its membership interest in the company owning the equipment
to the noteholder in exchange for a release on the debt for which
the property was security.  See note 3 to the accompanying
financial statements.

Other income and expenses

  The other income and expenses for the first nine months of
2000 netted to a total net loss of $285,000 compared to $30,000
of net income for the same period in 1999.  Interest income was
down $70,000 for the first nine months of 2000 compared to the
same period in 1999 primarily as a result of the reduction in
cash available for investment.  Interest expense was down
$129,000 as a result of the release, effective January 31, 1999,
of the debt incurred to purchase the coal fines and beneficiation
equipment on June 30, 1998.

  The Company realized an increase of $201,000 in gain on sale
of assets primarily as a result of the sale of the property owned
by a real estate partnership in which the Company had an
interest.  The Company's equity in the earnings of unconsolidated
affiliates was down $704,000 for the first nine months of 2000
compared to 1999.  The Company recorded a loss of $792,000 on its
investment in an entity engaged in natural gas well testing
operations in northeastern Mexico (the WS Segment) compared to a
loss of $86,000 for the same period in 1999.  The operations of
this entity were severely curtailed in January 2000 as Pemex
allowed the contracts for its subcontractors providing services
to expire rather than have them automatically renew.  See the
discussion regarding the WS Segment above.  The Company's equity
in the earnings of Cibola increased $2,000 from $211,000 for the
first nine months of 1999 to $213,000 for the same period in 2000
reflecting Cibola's improved operating results.  The first nine months
of 1999 were negatively impacted by the impairment of $110,000 relating
to the Company's investment in a company manufacturing the chemical
used by its subsidiary in the ER Segment and an impairment of $42,000
relating to the license rights owned by that subsidiary with no comparable
adjustments in the year 2000.

Income taxes

  The Company provided for federal alternative minimum tax
expense of $14,000 for the first nine months of 2000 compared to
$16,000 in alternative minimum tax expense in the same period in
1999.  The Company has not recorded any financial benefit
attributable to its various tax carryforwards due to uncertainty
regarding their utilization and realization.

Discontinued operations

  In December 1999, the Management Committee of North American
Brine Resources ("NABR") adopted a formal plan to discontinue the
business and dispose of its assets.  Beard has a 40% ownership in
NABR, which is accounted for under the equity method.  As a
result of NABR's planned discontinuation, Beard's share of NABR's
operating results have been reported as discontinued for all
periods presented in the accompanying statements of operations.
Beard's share of NABR's operating results was a $93,000 loss for
the nine months ended September 30, 1999.

  In December 1999, Beard recorded a $540,000 loss, which
represented its share of NABR's $1,350,000 estimated loss
expected from the discontinuation of operations.  NABR's loss
included $778,000 which represented the difference in the
estimated amounts expected to be received from the assets'
disposition and the assets' recorded values as of December 31,
1999, and $572,000 related to anticipated operating losses
through April 2000 (the date operations ceased) and costs of
ceasing operations.  NABR's actual loss for the nine months ended
September 30, 2000 was $276,000, the Company's share of which was
charged against the loss accrual it recorded in 1999.  See Note 4
to the accompanying financial statements.

  Pursuant to an agreement executed among the partners effective
as of September 15, 2000, the majority of the assets and
liabilities of NABR were distributed to Beard.  The partnership
will be dissolved when the proceeds from the sale of the
inventory are received and the final distribution made to the
former partners.  The Company received assets consisting of cash,
accounts receivable, and fixed assets totaling $441,000 and
liabilities consisting primarily of accounts payable and accrued
expenses totaling $348,000.  As of September 30, 2000, Beard's
remaining investment in NABR was $66,000.

Impact of Recently Issued Accounting Standards Not Yet Adopted

  In June 1998, the Financial Accounting Standards Board
("FASB") issued Statement of Financial Accounting Standards
("SFAS") No. 133, "Accounting for Derivative Instruments and
Hedging Activities."  SFAS No.133 establishes accounting and
reporting standards for derivative instruments, including certain
recognition of all derivatives as either assets or liabilities in
the balance sheet and measurement of those instruments at fair
value.  If certain conditions are met, a derivative may be
specifically designated as a hedge.  The accounting for changes
in the fair value of a derivative (that is, gains and losses)
depends on the intended use of the derivative and whether it
qualifies as a hedge.  A subsequent pronouncement, SFAS 137, was
issued in July 1999 that delayed the effective date of SFAS 133
until the fiscal year beginning after June 15, 2000.  In June
2000, the FASB issued SFAS No. 138, "Accounting for Certain
Derivative Instruments and Certain Hedging Activities", an
amendment to SFAS No. 133.  If the provisions of SFAS No. 133 and
No. 138 were to be applied as of September 30, 2000, it would not
have a material impact on the Company's financial position as of
such date, or the results of operations for the three and nine-
month periods then ended.

Item 3.  Quantitative and Qualitative Disclosures About Market
         Risk.

  At September 30, 2000, the Company had notes receivable of
$801,000 and long-term debt of $995,000.  The notes receivable
and long-term debt have fixed interest rates and therefore,
the Company's interest income and expense and operating results
would not be affected by an increase in market interest rates.
At September 30, 2000, a 10% increase in market interest rates
would have reduced the fair value of the Company's notes
receivable by an amount less than $5,000 and reduced the
fair value of its fixed rate long-term debt by an amount less
than $2,000.

  The Company has no other market risk sensitive instruments.

PART II.  OTHER INFORMATION.

Item 2.  Changes in Securities.

  The Company's preferred stock is mandatorily redeemable through
December 31, 2002 from one-third of Beard's "consolidated net
income" as defined in the instrument governing the rights of the
preferred stockholders.  Accordingly, one-third of future
"consolidated net income" will accrete directly to preferred
stockholders and reduce earnings per common share.  As a result
of these redemption requirements, the payment of any dividends to
the common stockholders in the near future is very unlikely.  See
Note 5 to the accompanying financial statements.

Item 4.  Submission of Matters to a Vote of Security Holders.

  Commencing on August 7, 2000, proxies were solicited on behalf
of the Board of Directors of the Company in connection with a
Special Meeting in Lieu of Annual Meeting of Stockholders.

  (a)  This special meeting was held on September 1, 2000.

  (b)  The business of the meeting included the election of
Allan R. Hallock and Ford C. Price to serve as directors for
three year terms or until their successors have been elected and
qualified.

  In addition, the following persons continue to serve as
directors for terms expiring on the dates indicated or until
their successors have been elected and qualified:

      Harlon E. Martin, Jr. (2001)     Herb Mee, Jr. (2001)
      W. M. Beard           (2002)

  In addition to the above, Michael E. Carr, elected in 1994 to
serve as a director by the preferred stockholders, will continue
to serve until his successor has been elected and qualified.

The table below sets forth the voting for election of directors:

<TABLE>
<CAPTION>
                   Votes      Votes    Votes                    Broker
Name of Nominee     For      Against  Withheld  Abstentions    Non-Votes
---------------    -----     -------  --------  -----------    ---------
<S>               <C>        <C>      <C>       <C>            <C>
Allan R. Hallock  2,306,827    -0-     20,589      -0-         254,100
Ford C. Price     2,306,836    -0-     20,580      -0-         254,100
</TABLE>

  (c) The business of the meeting also included a proposal to
approve a 3-for-4 reverse stock split of the Company's common
stock and to amend the Company's Certificate of Incorporation to
decrease the number of shares of common stock authorized for
issuance from 10,000,000 to 7,500,000 and to increase the par
value of the shares from $0.00l to $0.001333 per share.  The
table below sets forth the voting for such proposal:

<TABLE>
<CAPTION>
                Votes         Votes                    Broker
                 For         Against   Abstentions    Non-Votes
                -----        -------   -----------    ---------
              <S>            <C>       <C>            <C>
              2,302,067      24,808         541        254,100
</TABLE>

  (d)  At the meeting the stockholders also voted to approve the
appointment of Cole & Reed, P.C. as independent certified public
accountants for fiscal year 2000. The table below sets forth the
voting for such proposal:

<TABLE>
<CAPTION>
               Votes          Votes                    Broker
                For          Against   Abstentions    Non-Votes
               -----         -------   -----------    ---------
               <S>           <C>       <C>            <C>
               2,317,485     766       9,165          254,100
</TABLE>

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

(a)  The following exhibits are filed with this Form 10-Q and are
     identified by the numbers indicated:

2     Plan of acquisition, reorganization, arrangement,
      liquidation or succession:

2(a)  Agreement  and Plan  of Reorganization  by   and   among
      Registrant, Beard Oil Company ("Beard Oil") and New  Beard,
      Inc., dated as of July 12, 1993 (see Addendum A to Part  I,
      which is incorporated herein by reference;  schedules  to
      the Agreement have been omitted).  (This Exhibit has  been
      previously filed as Exhibit 3(b), filed on July  27,  1993
      to Registrant's Registration Statement on Form  S-4,  File
      No. 33-66598, and same is incorporated by reference).

2(b)  Agreement and Plan of Merger by and  between  The  Beard
      Company ("Beard") and The New Beard Company ("New Beard"),
      dated  as of September 16, 1997.  (This Exhibit  has been
      previously filed as Exhibit B to Registrant's Proxy
      Statement filed on September 12, 1997, and same is
      incorporated by reference).

2(c)  Certificate of Merger merging Beard into New Beard as
      filed  with the Secretary of State of Oklahoma on November
      26, 1997.  (This Exhibit has been previously filed as
      Exhibit 2.1 to Registrant's Form 8-K, filed on December  8,
      1997, and same is incorporated by reference).

3(i)  Restated Certificate of Incorporation of Beard (formerly
      New  Beard) as filed with the Secretary of State of
      Oklahoma on September 20, 2000.

3(ii) Registrant's By-Laws  as  currently  in  effect.    (This
      Exhibit  has been previously filed as  Exhibit  3(ii)  to
      Registrant's Form 10-K for the period ended  December  31,
      1997, filed on March 31, 1998, and same is  incorporated
      herein by reference).

4     Instruments defining the rights of security holders:

4(a)  Certificate of Designations, Powers, Preferences and
      Relative, Participating, Option and Other Special Rights,
      and the Qualifications, Limitations or Restrictions
      Thereof of the Series A Convertible Voting Preferred Stock
      of the Registrant.  (This Exhibit has been previously
      filed as Exhibit 3(c) to Amendment No. 2, filed on
      September 17, 1993 to Registrant's Registration  Statement
      on Form S-4, File No. 33-66598, and same is incorporated
      by reference).

4(b)  Settlement Agreement, with Certificate of Amendment
      attached thereto, by and among Registrant, Beard Oil, New
      York Life Insurance Company, New York Life Insurance and
      Annuity Company, John Hancock Mutual Life Insurance
      Company, Memorial Drive Trust and Sensor, dated as of
      April 13, 1995. (This Exhibit has been previously filed as
      Exhibit 4(g) to Registrant's Form 10-K for the period
      ended December 31, 1994 and same is incorporated by
      reference).

10    Material contracts:

10(a) Amendment  No. One to The Beard Company 1993  Stock  Option
      Plan dated August 27, 1993, as amended June 4, 1998.  (The
      Amended Plan  supersedes  the  original  Plan  adopted  on
      August 27, 1993.  This Exhibit has previously been  filed
      as  Exhibit  A, filed  on April 30, 1998  to  Registrant's
      Proxy   Statement  dated April 30, 1998, and same is
      incorporated by reference).*

10(b) The Beard Company 1994 Phantom Stock Units Plan as amended
      effective  October 23, 1997. (This Exhibit  has been
      previously filed as Exhibit 10(b) to Registrant's Form  10-
      K for the period ended December 31, 1999, filed on April
      14, 2000, and same is incorporated by reference).*

10(c) Amendment No. One to The Beard Company Deferred Stock
      Compensation Plan dated November 1, 1995, as amended July
      21, 1999. (The Amended Plan supersedes the original Plan
      adopted on June 3, 1996.  This Exhibit has previously
      been filed as Exhibit A, filed on May 11, 1999 to
      Registrant's Proxy Statement dated May 11, 1999, and same
      is incorporated by reference).*

10(d) Form of Change in Control Compensation Agreement dated as
      of January 24, 1997, by and between Carbonics and three
      employees.  (This Exhibit has been previously filed as
      Exhibit 10(l) to Registrant's Form 10-Q for the period
      ended March 31, 1997, filed on May 14, 1997, and same is
      incorporated by reference).*

10(e) Amended and Restated Nonqualified Stock Option Agreement
      by and between Richard D. Neely and ISITOP, Inc.
      ("ISITOP"), dated November 12, 1998. (This Exhibit has
      been previously filed as Exhibit 10(g) to Registrant's
      Form 10-K for the period ended December 31, 1998, filed on
      April 15, 1999, and same is incorporated herein by
      reference).*

10(f) Amended and Restated Nonqualified Stock Option  Agreement
      by and between Jerry S. Neely and ISITOP, dated November
      12, 1998. (This Exhibit has been previously filed as
      Exhibit 10(h) to Registrant's Form 10-K for the period
      ended December 31, 1998, filed on April 15, 1999, and same
      is incorporated herein by reference).*

10(g) Nonqualified Stock Option Agreement by and between Robert
      A. McDonald  and ISITOP, dated November 12, 1998. (This
      Exhibit has been previously filed as  Exhibit  10(i)  to
      Registrant's  Form 10-K for the period ended  December  31,
      1998,  filed  on  April 15, 1999, and same is  incorporated
      herein by reference).*

10(h) Incentive  Stock Option Agreement by and between Philip  R.
      Jamison and Beard Technologies, Inc. ("BTI"),  dated  May
      18,  1998. (This Exhibit has been  previously  filed  as
      Exhibit 10(k) to Registrant's Form 10-K  for  the  period
      ended December 31, 1998, filed on April 15, 1999, and  same
      is incorporated herein by reference).*

10(i) Subscription  Agreement by and between  Cibola  Corporation
      ("Cibola") and Registrant, dated April 10,  1996.   (This
      Exhibit  has been previously filed as  Exhibit  10.1 to
      Registrant's Form 10-Q for the period ended June 30, 1996,
      filed  on  August  14, 1996, and same  is  incorporated by
      reference).

10(j) Nonrecourse Secured Promissory Note from Registrant to
      Cibola, dated April 10, 1996.  (This Exhibit has been
      previously filed as Exhibit 10.2 to Registrant's Form 10-Q
      for the period ended June 30, 1996, filed on August 14,
      1996, and same is incorporated by reference).

10(k) Security Agreement by and among Registrant, Cibola and  the
      Cibola shareholders, dated April 10, 1996.  (This Exhibit
      has been previously filed as Exhibit 10.3 to Registrant's
      Form 10-Q for the period ended June 30, 1996, filed on
      August 14, 1996, and same is incorporated by reference).

10(l) Tax Sharing Agreement by and among Registrant, Cibola and
      the Cibola shareholders, dated April 10, 1996. (This
      Exhibit has been previously filed as Exhibit 10.4 to
      Registrant's Form 10-Q for the period ended June 30, 1996,
      filed on August 14, 1996, and same is incorporated by
      reference).

10(m) Guaranty Agreement between Registrant and Oklahoma Bank
      and Trust Company, dated as of June  7, 1999. (This
      Exhibit has been previously filed as Exhibit 10(bb) to
      Registrant's Form 10-Q for the period ended June 30, 1999,
      filed on August 20, 1999, and same is incorporated herein
      by reference).

10(n) Letter Loan Agreement by and between Registrant and The
      William  M. Beard and Lu Beard 1988 Charitable Unitrust
      (the  "Unitrust") dated April 3, 2000.  (This Exhibit has
      been  previously  filed as Exhibit 10(cc) to Registrant's
      Form 10-K for the period ended December 31, 1999, filed  on
      April 14, 2000, and same is incorporated by reference).

10(o) Amended  Letter  Loan Agreement by and  between  Registrant
      and  The  William  M.  Beard and Lu Beard  1988  Charitable
      Unitrust (the " Unitrust") dated September 1, 2000.

10(p) Promissory  Note  from Registrant to the  Trustees  of  the
      Unitrust  dated  April  3, 2000.  (This  Exhibit  has  been
      previously filed as Exhibit 10(dd) to Registrant's Form 10-
      K for the period ended December 31, 1999, filed on  April
      14, 2000, and same is incorporated by reference).

10(q) Renewal Promissory Note from Registrant to the Trustees  of
      the Unitrust dated September 1, 2000.

10(r) Promissory  Note from Registrant to Bank of Oklahoma,  N.A.
      ("BOK") dated August 30, 2000.

10(s) Extension  Promissory  Note from Registrant to BOK dated
      September 30, 2000.

10(t) Guaranty  Agreement  between the Unitrust and BOK dated
      August 30, 2000.

10(u) Guaranty Agreement between W.M. Beard and BOK dated August
      30, 2000.

27    Financial Data Schedule
---------------
      *Compensatory plan or arrangement.

The Company will furnish to any shareholder a copy of any of the
above exhibits upon the payment of $.25 per page.  Any request
should be sent to The Beard Company, Enterprise Plaza, Suite 320,
5600 North May Avenue, Oklahoma City, Oklahoma 73112.

(b)  No reports on Form 8-K were filed during the period covered
     by this report.
<PAGE>
                           SIGNATURES

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


                (Registrant)   THE BEARD COMPANY

                               HERB MEE, JR.
(Date) November 20, 2000       Herb Mee, Jr., President and
                               Chief Financial Officer


                               JACK A. MARTINE
(Date) November 20, 2000       Jack A. Martine, Controller and
                               Chief Accounting Officer
<PAGE>

                         EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
Number    Description                Method of Filing
--------  -----------                ----------------
<S>   <C>                            <C>
2     Plan of acquisition,           Incorporated herein by reference
      reorganization, arrangement,
      liquidation or succession:

2(a)  Agreement and Plan of          Incorporated herein by reference
      Reorganization by and among
      Registrant, Beard Oil Company
      ("Beard Oil") and New Beard,
      Inc., dated as of July 12,
      1993.

2(b)  Agreement and Plan of Merger   Incorporated herein by reference
      by and between The Beard
      Company ("Beard") and The New
      Beard Company ("New Beard"),
      dated as of September 16,
      1997.

2(c)  Certificate of Merger merging  Incorporated herein by reference
      Beard into New Beard as filed
      with the Secretary of State
      of Oklahoma on November 26,
      1997.

3(i)  Restated Certificate of        Filed herewith electronically
      Incorporation of Beard
      (formerly New Beard) as filed
      with the Secretary of State
      of Oklahoma on September 20,
      2000.

3(ii) Registrant's By-Laws as        Incorporated herein by reference
      currently in effect.

4(a)  Certificate of Designations,   Incorporated herein by reference
      Powers, Preferences and
      Relative, Participating,
      Option and Other Special
      Rights, and the
      Qualifications, Limitations
      or Restrictions Thereof of
      the Series A Convertible
      Voting Preferred Stock of the
      Registrant.

4(b)  Settlement Agreement, with     Incorporated herein by reference
      Certificate of Amendment
      attached thereto, by and
      among Registrant, Beard Oil,
      New York Life Insurance
      Company, New York Life
      Insurance and Annuity
      Company, John Hancock Mutual
      Life Insurance Company,
      Memorial Drive Trust and
      Sensor, dated as of April 13,
      1995.

10(a) Amendment No. One to The       Incorporated herein by reference
      Beard Company 1993 Stock
      Option Plan dated August 27,
      1993, as amended June 4,
      1998.

10(b) The Beard Company 1994         Incorporated herein by reference
      Phantom Stock Units Plan as
      amended effective October 23,
      1997.

10(c) Amendment No. One to The       Incorporated herein by reference
      Beard Company Deferred Stock
      Compensation Plan dated
      November 1, 1995, as amended
      July 21, 1999.

10(d) Form of Change in Control      Incorporated herein by reference
      Compensation Agreement dated
      as of January 24, 1997, by
      and between Carbonics and
      three employees.

10(e) Amended and Restated           Incorporated herein by reference
      Nonqualified Stock Option
      Agreement by and between
      Richard D. Neely and ISITOP,
      Inc. ("ISITOP"), dated
      November 12, 1998.

10(f) Amended and Restated           Incorporated herein by reference
      Nonqualified Stock Option
      Agreement by and between
      Jerry S. Neely and ISITOP,
      dated November 12, 1998.

10(g) Nonqualified Stock Option      Incorporated herein by reference
      Agreement by and between
      Robert A. McDonald and
      ISITOP, dated November 12,
      1998.

10(h) Incentive Stock Option         Incorporated herein by reference
      Agreement by and between
      Philip R. Jamison and Beard
      Technologies, Inc. ("BTI"),
      dated May 18, 1998.

10(i) Subscription Agreement by and  Incorporated herein by reference
      between Cibola Corporation
      ("Cibola") and Registrant,
      dated April 10, 1996.

10(j) Nonrecourse Secured            Incorporated herein by reference
      Promissory Note from
      Registrant to Cibola, dated
      April 10, 1996.

10(k) Security Agreement by and      Incorporated herein by reference
      among Registrant, Cibola and
      the Cibola shareholders,
      dated April 10, 1996.

10(l) Tax Sharing Agreement by and   Incorporated herein by reference
      among Registrant, Cibola and
      the Cibola shareholders,
      dated April 10, 1996.

10(m) Guaranty Agreement between     Incorporated herein by reference
      Registrant and Oklahoma Bank
      and Trust Company, dated as
      of June 7, 1999.

10(n) Letter Loan Agreement by and   Incorporated herein by reference
      between Registrant and The
      William M. Beard and Lu Beard
      1988 Charitable Unitrust (the
      " Unitrust") dated April 3,
      2000.

10(o) Amended Letter Loan Agreement  Filed herewith electronically
      by and between Registrant and
      The William M. Beard and Lu
      Beard 1988 Charitable
      Unitrust (the " Unitrust")
      dated September 1, 2000.

10(p) Promissory Note from           Incorporated herein by reference
      Registrant to the Trustees of
      the Unitrust dated April 3,
      2000.

10(q) Renewal Promissory Note from   Filed herewith electronically
      Registrant to the Trustees of
      the Unitrust dated September
      1, 2000.

10(r) Promissory Note from           Filed herewith electronically
      Registrant to Bank of
      Oklahoma, N.A. ("BOK") dated
      August 30, 2000.

10(s) Extension Promissory Note      Filed herewith electronically
      from Registrant to BOK dated
      September 30, 2000.

10(t) Guaranty Agreement between     Filed herewith electronically
      the Unitrust and BOK dated
      August 30, 2000.

10(u) Guaranty Agreement between     Filed herewith electronically
      W.M. Beard and BOK dated
      August 30, 2000.

27    Financial Data Schedule        Filed herewith electronically
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