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 June 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 July 31, 2000.

            Common Stock $.001 par value - 2,438,724
<PAGE>

                        THE BEARD COMPANY

                              INDEX


PART I. FINANCIAL INFORMATION                                     Page

Item 1.   Financial Statements

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

 Statements of Operations - Three Months and Six
  Months ended June 30, 2000 and 1999 (Unaudited)

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

 Statements of Cash Flows - Six Months ended June 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 6.   Exhibits and Reports on Form 8-K

Signatures
<PAGE>
PART I.  FINANCIAL INFORMATION

  Item 1.  Financial Statements

<TABLE>
                      THE BEARD COMPANY AND SUBSIDIARIES
                                 Balance Sheets
              June 30, 2000 (Unaudited) and December 31, 1999
<CAPTION>
                                                      June 30,    December 31,
                               Assets                   2000            1999
                                                        ----            ----
<S>                                               <C>             <C>
Current assets:
  Cash and cash equivalents                       $    101,000    $    767,000
  Investments                                                -         280,000
  Accounts receivable, less allowance for doubtful
     receivables of $42,000 in 2000 and $13,000
     in 1999                                           349,000         480,000
  Inventory                                            109,000         103,000
  Prepaid expenses and other assets                     63,000          98,000
  Current portion of notes receivable                   82,000          80,000
                                                  ------------    ------------
       Total current assets                            704,000       1,808,000
                                                  ------------    ------------
Notes receivable                                       857,000         756,000

Investments and other assets                           956,000       1,324,000

Property, plant and equipment, at cost               7,094,000       6,879,000
  Less accumulated depreciation, depletion and
     amortization                                    4,027,000       3,987,000
                                                  ------------    ------------
       Net property, plant and equipment             3,067,000       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
                                                  ------------    ------------

                                                  $  5,627,000    $  6,804,000
                                                  ============    ============

          Liabilities and Shareholders' Equity
Current liabilities:
  Trade accounts payable                          $    220,000    $    262,000
  Accrued expenses                                     472,000         606,000
  Current maturities of long-term debt                  21,000          17,000
                                                  ------------    ------------
       Total current liabilities                       713,000         885,000
                                                  ------------    ------------
Long-term debt less current maturities                 683,000          13,000

Other long-term liabilities                            343,000         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 $.001 par value per share;
     10,000,000 shares authorized; 2,832,129
     shares issued and outstanding
     in 2000 and 1999                                    3,000           3,000
  Capital in excess of par value                    37,723,000      37,723,000
  Accumulated deficit                              (32,862,000)    (31,218,000)
  Accumulated other comprehensive income (loss)        (19,000)          4,000
  Treasury stock, 393,405 shares, at cost in
     2000 and 1999                                  (1,846,000)     (1,846,000)
                                                  ------------   -------------
       Total common shareholders' equity             2,999,000       4,666,000
                                                  ------------   -------------
Commitments and contingencies (note 8)
                                                  $  5,627,000   $   6,804,000
                                                  ============   =============
</TABLE>
See accompanying notes to financial statements.

<TABLE>
                        THE BEARD COMPANY AND SUBSIDIARIES
                             Statements of Operations
                                   (Unaudited)
<CAPTION>
                                   For Three Months Ended  For Six Months Ended
                                   ---------------------- ---------------------
                                    June 30,   June 30,   June 30,     June 30,
                                      2000       1999       2000         1999
                                      ----       ----       ----         ----
<S>                                <C>        <C>        <C>          <C>
Revenues:
 Coal reclamation                  $  11,000  $ 108,000  $    23,000  $   792,000
 Carbon dioxide                      114,000    105,000      213,000      224,000
 China                                     -          -            -            -
 Environmental remediation                 -          -            -            -
 Natural gas well servicing                -          -       65,000            -
 e-Commerce                                -          -            -            -
 Other                                 9,000     21,000       15,000       30,000
                                   ---------  ---------  -----------  -----------
                                     134,000    234,000      316,000    1,046,000
                                   ---------  ---------  -----------  -----------
Expenses:
 Coal reclamation                    184,000    275,000      359,000      688,000
 Carbon dioxide                       15,000     26,000       36,000       54,000
 China                               107,000     75,000      190,000      158,000
 Environmental remediation            41,000     46,000       81,000      102,000
 Natural gas well servicing            5,000          -       48,000            -
 e-Commerce                                -          -            -            -
 Selling, general and administrative 397,000    506,000      852,000      952,000
 Depreciation, depletion &
  amortization                        28,000     23,000       54,000      204,000
 Other                                12,000     38,000       22,000       46,000
                                   ---------  ---------  -----------  -----------
                                     789,000    989,000    1,642,000    2,204,000
                                   ---------  ---------  -----------  -----------
Operating profit (loss):
 Coal reclamation                   (223,000)  (206,000)    (438,000)    (179,000)
 Carbon dioxide                       91,000     70,000      161,000      154,000
 China                               (82,000)   (75,000)    (191,000)    (158,000)
 Environmental remediation           (51,000)   (78,000)    (117,000)    (155,000)
 Natural gas well servicing          (48,000)         -      (76,000)           -
 e-Commerce                          (79,000)   (18,000)    (154,000)     (36,000)
 Other, primarily corporate         (263,000)  (448,000)    (511,000)    (784,000)
                                   ---------  ---------  -----------  -----------
                                    (655,000)  (755,000)  (1,326,000)  (1,158,000)
Other income (expense):
 Interest income                      30,000     67,000       57,000      120,000
 Interest expense                     (7,000)    (2,000)      (8,000)    (158,000)
 Minority interest in operations
  of subsidiary                       10,000          -       16,000            -
 Gain (loss) on sale of assets        10,000      1,000       10,000        3,000
 Equity in earnings of
  unconsolidated affiliates         (235,000)   134,000     (384,000)      89,000
 Other                                (1,000)    34,000        5,000       72,000
                                   ---------  ---------  -----------  -----------

Loss from continuing
 operations before income taxes     (848,000)  (521,000)  (1,630,000)  (1,032,000)
Income taxes (note 7)                 (8,000)   (16,000)     (14,000)     (16,000)
                                   ---------  ---------  -----------  -----------
Loss from continuing operations     (856,000)  (537,000)  (1,644,000)  (1,048,000)

 Loss from discontinued operations         -    (24,000)           -      (64,000)
                                   ---------  ---------  -----------  -----------
Net loss                           $(856,000) $(561,000) $(1,644,000) $(1,112,000)
                                   =========  =========  ===========  ===========

Net loss per average common share outstanding:
 Basic and diluted:
   Loss from continuing operations $   (0.35) $   (0.22) $     (0.67) $     (0.43)
   Loss from discontinued operations    0.00      (0.01)        0.00        (0.02)
                                   ---------  ---------  -----------  -----------
   Net loss                        $   (0.35) $   (0.23) $     (0.67) $     (0.45)
                                   =========  =========  ===========  ===========

Weighted average common shares
 outstanding -  basic and diluted  2,439,000  2,459,000    2,439,000    2,464,000
                                   =========  =========  ===========  ===========
</TABLE>

See accompanying notes to financial statements.

<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, six months ended
  June 30, 2000 (unaudited)            -             -    (1,644,000)        -            -    (1,644,000)
Comprehensive loss:
  Foreign currency translation
   adjustment (unaudited)              -             -             -   (23,000)           -       (23,000)
                                                                                               ----------
Comprehensive loss (unaudited)                                                                 (1,667,000)
                                 -------  ------------  ------------  --------  -----------   -----------
Balance, June 30, 2000
  (unaudited)                    $ 3,000  $ 37,723,000  $(32,862,000) $(19,000) $(1,846,000)  $ 2,999,000
                                 =======  ============  ============  ========  ===========   ===========
</TABLE>

See accompanying notes to financial statements.

<TABLE>
                        THE BEARD COMPANY AND SUBSIDIARIES
                             Statements of Cash Flows
                                    (Unaudited)
<CAPTION>
                                                 For the Six Months Ended
                                               ----------------------------
                                               June 30, 2000  June 30, 1999
                                               -------------  -------------
<S>                                            <C>            <C>
Operating activities:
 Cash received from customers                  $  1,580,000   $  5,412,000
 Cash paid to suppliers and employees            (2,900,000)    (5,612,000)
 Interest received                                   51,000        116,000
 Interest paid                                      (28,000)      (253,000)
 Taxes paid                                         (20,000)       (64,000)
                                               ------------   ------------
      Net cash used in operating activities      (1,317,000)      (401,000)
                                               ------------   ------------
Investing activities:
 Acquisition of property, plant and equipment      (249,000)      (870,000)
 Proceeds from sale of assets                        13,000          5,000
 Proceeds from redemptions of certificates of
    deposit                                         280,000              -
 Investment in and advances to fifty percent-owned
    subsidiary                                     (196,000)      (341,000)
 Advances for notes receivable                     (163,000)      (560,000)
 Payments on notes receivable                        87,000        315,000
 Other                                              178,000        161,000
                                               ------------   ------------
      Net cash used in investing activities         (50,000)    (1,290,000)
                                               ------------   ------------
Financing activities:
 Payments on line of credit and term notes           (9,000)      (195,000)
 Proceeds from short term notes                     710,000              -
 Purchase of treasury stock                               -       (286,000)
                                               ------------   ------------
      Net cash provided by (used in) financing
         activities                                 701,000       (481,000)
                                               ------------   ------------
Net decrease in cash and cash equivalents          (666,000)    (2,172,000)

Cash and cash equivalents at beginning of period    767,000      5,190,000
                                               ------------   ------------
Cash and cash equivalents at end of period     $    101,000   $  3,018,000
                                               ============   ============
</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 Six Months Ended
                                                 ------------------------
                                               June 30, 2000  June 30, 1999
                                               -------------  -------------
<S>                                            <C>            <C>
Net loss                                       $ (1,644,000)  $ (1,112,000)
Adjustments to reconcile net loss to net cash
   used in operating activities:
 Depreciation, depletion and amortization            54,000        319,000
 Gain on sale of assets                             (10,000)        (3,000)
 Equity in net (income) loss of unconsolidated
    affiliates                                      389,000        (25,000)
 Net cash used by discontinued operations offsetting
    accrued impairment loss                        (149,000)      (345,000)
 Minority interest in operations of consolidated
    subsidiary                                      (16,000)             -
 Noncash compensation expense                         6,000              -
 Other                                                    -          6,000
 Decrease in accounts receivable, prepaid expenses
    and other current assets                        128,000      1,275,000
 (Increase) decrease in inventories                  (6,000)       115,000
 Decrease in accounts payable, accrued
    expenses and other liabilities                  (69,000)      (631,000)
                                               ------------   ------------
 Net cash used in operating activities         $ (1,317,000)  $   (401,000)
                                               ============   ============

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
                                               ============   ============
</TABLE>

See accompanying notes to financial statements.

               THE BEARD COMPANY AND SUBSIDIARIES
                  Notes to Financial Statements

                     June 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").  Subdidiaries
  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 six-month periods
  ended June 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, including the repurchase of Company
  common stock, the Company's working capital and cash and cash
  equivalents decreased significantly at June 30, 2000 compared
  to June 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 has agreed to
  extend the maturity date of its original credit line from
  April 2001 to January 2002 in exchange for a guaranty.  The
  affiliate has agreed to furnish the guaranty, has reduced its
  credit line to $700,000 and extended the term thereof from
  July 2001 to January 2002.  Through June 30, 2000, the Company
  has drawn down $660,000 of its available financing from this
  affiliate.  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 is unlikely
  that the LOI Projects will be finalized in the foreseeable
  future.

  Meanwhile, the Company has continued to pursue other
  reclamation projects.  Beard Technologies, Inc. ("BTI") has
  just finished coring a slurry pond in West Virginia owned by a
  Fortune 500 company.  Upon completion of the analyses of the
  samples from the pond, BTI expects to finalize a Letter of
  Intent to build and operate a fine coal preparation plant to
  recover clean coal from the pond which will be delivered at an
  agreed price to the pond owner.  It is contemplated that the
  LOI will be finalized within the next 30 days and that
  definitive agreements for the project will be executed in the
  fourth quarter.

  The Company's project financing plans for the Coal Segment are
  on hold until the agreements for the West Virginia project
  have been finalized.  Meanwhile, the Company's credit lines
  totaling $1 million together with working capital generated
  from the sale of assets are 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 six-month periods ended June 30,
  1999 were losses of $24,000 and $64,000, respectively.  As of
  June 30, 2000, Beard's investment in NABR was $225,000.

  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 six-month
  periods ended June 30, 2000 were $81,000 and $137,000
  respectively, the Company's share of which was charged against
  the loss accrual recorded in 1999.

  The Management Committee of NABR is actively pursuing
  opportunities to sell its assets and expects the disposition
  to be completed by December 31, 2000.

  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 $580,000 and $1,118,000, respectively, for the
  three and six-month periods ended June 30, 2000.  ITF's actual
  operating losses for the three and six-month periods ended
  June 30, 2000 were $37,000 and $149,000, respectively.  The
  actual losses for the three and six-month periods ended June
  30, 2000 were charged against the loss accrual recorded in the
  fourth quarter of 1999.

  As of June 30, 2000, the assets related to the ITF Segment
  consist primarily of cash, accounts receivable, inventory and
  the two remaining C-stores with a total recorded value of
  $962,000.  The significant liabilities of the segment consist
  of trade accounts payable and accrued expenses totaling
  $94,000.  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 June 30 were not
  sufficient to begin the sharing of the 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.

(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 provision for income taxes for the
  three and six-month periods ended June 30, 2000 consist of
  federal alternative minimum tax of $8,000 and $14,000,
  respectively.  The Company recorded a $16,000 provision for
  alternative minimum taxes for the three months ended June 30,
  1999.

  At June 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   $  52,131

   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 six-month periods
  ended June 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  Totals
                       ----    -------  -----   -----------  ---------   -----  ------
<S>                    <C>     <C>      <C>       <C>        <C>         <C>     <C>
Three months ended June 30, 2000
--------------------------------
Revenues from
 external customers    $   11   $114    $    -    $     -    $     -     $   -   $   125
Segment profit (loss)    (223)    91       (82)       (51)      (613)      (79)     (957)

Three months ended June 30, 1999
--------------------------------
Revenues from
 external customers    $  108   $105    $    -    $     -    $   813     $   -   $ 1,026
Segment profit (loss)    (201)   134       (75)       (86)       171       (18)      (75)

Six months ended June 30, 2000
------------------------------
Revenues from
 external customers    $   23   $213    $    -    $     -    $   234     $   -   $   470
Segment profit (loss)    (438)   161      (191)      (117)    (1,131)     (154)   (1,870)
Segment assets          1,415    455         -          8      1,802        60     3,740

Six months ended June 30, 1999
------------------------------
Revenues from
 external customers    $  792   $224    $    -    $     -    $   900     $   -   $ 1,916
Segment profit (loss)    (325)   154      (158)      (170)       (58)      (36)     (593)
Segment assets          1,712    484         -         52      2,175         -     4,423
</TABLE>

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

<TABLE>
<CAPTION>
                                   For the Three Months   For the Six Months
                                          Ended                  Ended
                                   --------------------   -------------------
                                   June 30,    June 30,   June 30,    June 30,
                                     2000        1999       2000        1999
                                     ----        ----       ----        ----
   <S>                             <C>        <C>         <C>         <C>
   Total loss for reportable
    segments                       $  (957)   $   (75)    $(1,870)    $  (593)
   Eliminate (income) loss from
   Natural Gas Well Servicing
   operations accounted for as
    an equity investment               564       (171)      1,055          58
   Equity in income (loss) from
    Natural Gas Well Servicing
    operations accounted for as
    an equity investment              (282)        73        (528)        (42)
   Net corporate costs not
    allocated to segments             (181)      (388)       (301)       (535)
                                   -------    -------     -------     -------
        Total consolidated loss
         for continuing operations $  (856)   $  (561)    $(1,644)    $(1,112)
                                   =======    =======     =======     =======
</TABLE>

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 June 30, 2000 compared to the
prior year second quarter and the six months ended June 30, 2000
compared to the prior year six 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 - June 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>
                             June 30,   December 31,  Increase
                              2000         1999      (Decrease)
                             ---------   ---------   ---------
  <S>                        <C>         <C>         <C>
  Cash and cash equivalents  $ 101,000   $ 767,000   $(666,000)

  Working capital            $  (9,000)  $ 923,000   $(932,000)

  Current ratio               .99 to 1    2.04 to 1
</TABLE>

  During the first six months of 2000, the Company reduced its
working capital by $932,000 from $923,000 as of December 31,
1999.  $141,000 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 $196,000 to the Company's joint venture involved
in natural gas well testing in northeastern Mexico.  $117,000,
$191,000 and $154,000, respectively, were used to fund the
startup activities of the E/R, China and e-Commerce Segments.
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 is unlikely that the LOI Projects will be finalized in
the foreseeable future.

  Meanwhile, the Company has continued to pursue other
reclamation projects.  Beard Technologies, Inc. ("BTI") has just
finished coring a slurry pond in West Virginia owned by a Fortune
500 company.  Upon completion of the analyses of the samples from
the pond, BTI expects to finalize a Letter of Intent ("LOI") to
build and operate a fine coal preparation plant to recover clean
coal from the pond which will be delivered at an agreed price to
the pond owner.  It is contemplated that the LOI will be
finalized within the next 30 days and that definitive agreements
for the project will be executed in the fourth quarter.

  The Company's project financing plans for the Coal Segment are
on hold until the agreements for the West Virginia project have
been finalized.  Meanwhile, the Company's credit lines totaling
$1 million together with working capital generated from the sale
of assets are expected to be sufficient to meet the Company's
working capital requirements through 2000.  In addition, the
Company is attempting to dispose of the remaining assets of the
discontinued ITF Segment while at the same time liquidating the
assets of the discontinued BE/IM Segment.  The discontinuance of
the ITF and BE/IM Segments will benefit liquidity by generating
cash from the liquidation of the assets of the two segments and
by eliminating the funding of losses generated by the operations
of the ITF Segment.  The Company will also be selling certain
other assets, principally real estate, to generate cash if
necessary.

  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
and available credit lines 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 June
30, 2000 as compared with the Quarter ended June 30, 1999.

  The net loss for the quarter ended June 30, 2000 was $856,000,
compared to a net loss of $561,000 for the second quarter of the
prior year.  The second quarter of 1999 included $24,000 of
losses attributable to discontinued operations.  The Coal Segment
reported a $17,000 increase in operating loss for the quarter.
The CO2 Segment had a $21,000 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
$7,000 to $82,000 for the second quarter of 2000 compared to the
same period in 1999.  There was a $27,000 reduction in operating
losses of the ER Segment for the second quarter of 2000 compared
to the second quarter of 1999.  The operating loss of the WS
Segment increased $48,000 in the current quarter compared to the
same period in 1999.  The new e-Commerce Segment incurred
operating losses of $79,000 for the second quarter of 2000
compared to $18,000 in the second quarter of 1999.  The operating
loss in Other activities for the first quarter of 2000 decreased
$185,000 compared to the same period in 1999  As a result, the
operating loss in the second quarter of 2000 was $100,000 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            $(223,000)   $(206,000)
               Carbon dioxide                 91,000       70,000
               China                         (82,000)     (75,000)
               Environmental remediation     (51,000)     (78,000)
               Natural gas well servicing    (48,000)           -
               e-Commerce                    (79,000)     (18,000)
                                           ---------    ---------
                  Subtotal                  (392,000)    (307,000)
               Other                        (263,000)    (448,000)
                                           ---------    ---------
                  Total                    $(655,000)   $(755,000)
                                           =========    =========
</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 $223,000 and $206,000 for
the second 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

  Second quarter 2000 operations reflected an operating profit of
$91,000 compared to $70,000 in the 1999 second 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 $9,000 or
9% to $114,000 for the second quarter of 2000 compared to
$105,000 for the same period in 1999.

China

  The operating loss of the China Segment increased to $82,000
in the current quarter versus $75,000 in the 1999 second 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 a $27,000 smaller operating loss in the second
quarter of 2000 as compared with the same period in 1999.  The
segment recorded no revenues in the second 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 successful bidders
as subcontractors to Schlumberger on new contracts which are
expected to be finalized by the end of August, and will also be
bidding on additional contracts with Pemex late this year.
The sand separator company, formed late in the third quarter of
1999, incurred an operating loss of $49,000  for the second
quarter of 2000.  The Company's share of the loss for its
50%-owned natural gas well testing investee was $282,000
for the second quarter of 2000 versus earnings of $73,000
for the same period in 1999, with the suspension of
operations accounting for the decrease.

e-Commerce

  The Company's startup company involved in the development of a
secure Internet purchasing system incurred an operating loss of
$79,000 for the second quarter of 2000 versus an operating loss
of $18,000 in the prior year quarter.  Segment personnel are
pursuing funding for the programming and testing of the software,
the purchase of necessary hardware, the hiring of the necessary
staff and are also pursuing strategic alliances to facilitate the
launching of the technology.

Other activities

  Other operations, consisting principally of general and
corporate activities, generated a $185,000 decrease in the loss
for the second quarter of 2000 compared to the same period in
1999.  The Company incurred $50,000 less in legal costs
associated with a class action lawsuit (the "McElmo Dome
Litigation"), in which the Company is a plaintiff against two
major oil companies and others.  Other lower SG&A costs
contributed to the smaller operating loss.

Selling, general and administrative expenses

  The Company's selling, general and administrative expenses
("SG&A") in the current quarter were $109,000 less in the second
quarter of 2000 compared to the same period in 1999.  The Coal
Segment had an increase in SG&A expenses of $13,000 due to
increases in insurance and rental expenses.   The China Segment
incurred increased SG&A expenses of $32,000  as the Company
increased its efforts to secure contracts in China.  The ER
Segment incurred decreased SG&A expenses of $20,000 for  the
second quarter of 2000 compared to 1999 as a result of a
reduction in its marketing budget.  Other operations incurred
approximately $86,000  less in SG&A for the second quarter of
2000 compared to the same period in 1999 primarily as a result of
decreased legal costs associated with the McElmo Dome Litigation,
and other lower SG&A costs.

Depreciation, depletion and amortization expenses

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

Other income and expense

  Other income and expenses netted to a net loss of $193,000
for the second quarter of 2000, down sharply from the $234,000 in
income recorded for such items in the same period of 1999.
Interest income was down $30,000 for the second quarter of 2000
compared to the same period in 1999 primarily as a result of the
reduction in cash available for investment.  Included in other
income in the second quarter of 1999 was a reversal of $64,000 of
impairment taken in 1997 relating to the plugging of a shut-in
CO2 gas well with no comparable adjustment in 2000.  The Company
recorded a loss of  $282,000 for the second quarter of 2000
compared to earnings of $73,000 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 second quarter of 2000.  New contracts
are expected to be finalized in August 2000. See the discussion
regarding the WS Segment above.  The Company's equity in the
earnings of Cibola decreased $21,000 from $68,000 for the second
quarter of 1999 to $47,000 for the same period in 2000 reflecting
losses on certain outside investments by Cibola.

Income taxes

  The Company provided for federal alternative minimum tax
expense of $8,000 for the second quarter of 2000 compared to
$16,000 of alternative minimum tax 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 $24,000 loss for
the three months ended June 30, 1999.  As of June 30, 2000,
Beard's investment in NABR was $225,000.

  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 June 30, 2000 was $81,000, the Company's share of which was
charged against the loss accrual it recorded in 1999.  See Note 4
to the accompanying financial statements.

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

  The net loss for the six months ended June 30, 2000 was
$1,644,000, compared to a net loss of $1,112,000 for the first
six months of the prior year.  Continuing operations posted a net
loss of $1,644,000 after taxes of $14,000 compared to a loss from
continuing operations of $1,048,000 after taxes of $16,000 for
the same period in 1999.  In addition, the Company had a net loss
of $64,000 for the first half of 1999 related to discontinued
operations.

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

<TABLE>
<CAPTION>
                                            2000           1999
                                            ----           ----
             <S>                       <C>            <C>
             Operating profit (loss):
               Coal reclamation        $  (438,000)   $  (179,000)
               Carbon dioxide              161,000        154,000
               China                      (191,000)      (158,000)
               Environmental remediation  (117,000)      (155,000)
               Natural gas well servicing  (76,000)             -
               e-Commerce                 (154,000)       (36,000)
                                       -----------    -----------
                  Subtotal                (815,000)      (374,000)
               Other                      (511,000)      (784,000)
                                       -----------    -----------
                  Total                $(1,326,000)   $(1,158,000)
                                       ===========    ===========
</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
$259,000 increase in the operating loss for the first six months
of 2000 compared to the same period in 1999 reflects the effect
of losing the guaranteed profit realized from these contracts for
six months in 2000, versus having five months of such losses plus
one month of profit in 1999.

Carbon dioxide

  Operations for the first six months of 2000 resulted in an
operating profit of $161,000 compared to a $154,000 operating
profit for the 1999 first half.  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 decreased $9,000 or 4% to $213,000 for the first
six months of 2000 compared to $224,000 for the same period in
1999.  The Company recorded $18,000 less in operating costs
associated with the properties in the first half of 2000 compared
to the same period in 1999.  While production volumes for the
field increased for the first six 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 $191,000
in the current six months versus $158,000 in the 1999 first half
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 $38,000 to $117,000
for the first six months of 2000 as compared to $155,000 for the
same period in 1999.  The segment recorded no revenues in the
first half of 2000 or 1999.  Personnel employed in the segment
have been involved in expanding 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 six 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 successful bidders
as subcontractors to Schlumberger on new contracts which are
expected to be finalized by the end of August, and will also be
bidding on additional contracts with Pemex later this year.
The sand separator company, formed late in the third quarter
of 1999, incurred an operating loss of $76,000 for the six months
ended June 30, 2000.  The Company's share of the loss for its
50%-owned natural gas well testing investee was $528,000 for
the first half of 2000 versus a loss of $42,000 for the same
period in 1999, with the suspension of operations accounting
for the decrease.

e-Commerce

  The Company's startup company involved in the development of a
secure Internet purchasing system incurred an operating loss of
$154,000 for the first half of 2000 versus an operating loss of
$36,000 in the prior year period.  Segment personnel continue to
pursue funding for the programming and testing of the software,
the purchase of necessary hardware, the hiring of the necessary
staff as well as strategic alliances to facilitate the launching
of the technology.

Other activities

  Other operations, consisting principally of general and
corporate activities, generated a $273,000 decrease in operating
loss for the first half of 2000 as compared to the same period
last year.  Reasons for the decreased loss include a reduction of
$71,000 in legal costs, primarily those associated with the
McElmo Dome Litigation, decreases in contract labor costs of
$34,000, and reductions in most 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 half of 2000 decreased to $852,000 from
$952,000 for the 1999 six months.  The Coal Segment had a
decrease in SG&A expenses of $42,000 due primarily to reductions
in staff and other expenses.  The China Segment had an increase
of $32,000 in SG&A costs while segment personnel pursued
opportunities in China.  The ER Segment's SG&A decreased $15,000
for  the six 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 $26,000 more SG&A expenses for the six 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 $118,000 in additional SG&A costs as segment personnel
sought partners to develop the technology involved with the
Internet purchasing system.  Other operations incurred
approximately $219,000 less in SG&A for the six months of 2000
compared to the same period in 1999 primarily as a result of the
decreased legal costs and by the reduction in other expenses
discussed above.

Depreciation, depletion and amortization expenses

  DD&A expense decreased $150,000 from $204,000 to $54,000 from
the six months of 1999 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 six months of 2000
netted to a total net loss of $304,000 compared to $126,000 in
net income for the same period in 1999.  Interest income was down
$63,000 for the first half 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 $150,000 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's equity in the earnings of unconsolidated
affiliates was down $473,000 for the first six months of 2000
compared to 1999.  The Company recorded a loss of $528,000 on its
investment in an entity engaged in natural gas well testing
operations in northeastern Mexico (the WS Segment) compared to a
loss of $42,000 for the same period in 1999.  This entity
generated its initial revenues in the first quarter of 1999 which
were not sufficient to cover the overhead costs of the
operations.  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
$11,000 from $133,000 for the first six months of 1999 to
$144,000 for the same period in 2000 reflecting Cibola's improved
operating results.

Income taxes

  The Company provided for federal alternative minimum tax
expense of $14,000 for the first half 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 $64,000 loss for
the three months ended June 30, 1999.  As of June 30, 2000,
Beard's investment in NABR was $225,000.

  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 six months ended
June 30, 2000 was $136,000, the Company's share of which was
charged against the loss accrual it recorded in 1999.  See Note 4
to the accompanying financial statements.

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 June 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 six-month
periods then ended.

  Item 3.  Quantitative and Qualitative Disclosures About Market
           Risk

  At June 30, 2000, the Company had notes receivable of $939,000
and long-term debt of $704,000.  The notes receivable and $44,000
of the 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.
The remaining $660,000 of long-term debt consists of a note
payable that bears interest at 1% above the prime rate.  A 10%
increase in market interest rates would result in an increase in
interest expense related to this variable rate long-term debt of
approximately $3,000 through December 31, 2000.  At June 30,
2000, a 10% increase in market interest rates would have reduced
the fair value of the Company's notes receivable by $5,000 and
reduced the fair value of its fixed rate long-term debt by less
than $1,000.

  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 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 and The New Beard Company, 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 The Beard Company into The
       New Beard Company as filed with theSecretary 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)   Certificate of Incorporation of The New Beard Company as
       filed with the Secretary of State of Oklahoma on
       September 11, 1997. (This Exhibit has been previously
       filed as Exhibit C to Registrant's Proxy Statement filed
       on September 12, 1997, and same is incorporated by
       reference).

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)  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).

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

(Date) August 14, 2000         HERB MEE, JR.
                               Herb Mee, Jr., President and
                               Chief Financial Officer


(Date) August 14, 2000         JACK A. MARTINE
                               Jack A. Martine, Controller and
                               Chief Accounting Officer

<PAGE>
<TABLE>
                            EXHIBIT INDEX
<CAPTION>
Exhibit
  No.  Description                        Method of Filing
  ---  -----------                        ----------------
<S>    <C>                                <C>
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 by    Incorporated herein by reference
       and between The Beard Company and
       The New Beard Company, dated as
       of September 16, 1997

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

3(i)   Certificate of Incorporation of    Incorporated herein by reference
       The New Beard Company as filed
       with the Secretary of State of
       Oklahoma on September 11, 1997

3(ii)  Registrant's By-Laws as currently  Incorporated herein by reference
       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 Beard     Incorporated herein by reference
       Company 1993 Stock Option Plan
       dated August 27, 1993, as amended
       June 4, 1998

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

10(c)  Amendment No. One to The Beard     Incorporated herein by reference
       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 Nonqualified  Incorporated herein by reference
       Stock Option Agreement by and
       between Richard D. Neely and
       ISITOP, Inc. ("ISITOP"), dated
       November 12, 1998

10(f)  Amended and Restated Nonqualified  Incorporated herein by reference
       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 Agreement   Incorporated herein by reference
       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 Promissory     Incorporated herein by reference
       Note from Registrant to Cibola,
       dated April 10, 1996

10(k)  Security Agreement by and among    Incorporated herein by reference
       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)  Promissory Note from Registrant    Incorporated herein by reference
       to the Trustees of the Unitrust
       dated April 3, 2000

27     Financial Data Schedule            Filed herewith electronically
</TABLE>