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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   Form 10-QSB

[X]      Quarterly report under Section 13 or 15(d) of the  Securities  Exchange
         Act of 1934 for the quarterly period ended Septrmber 30, 2000
                                                    ------------------

[ ]      Transition  report under Section 13 or 15(d) of the Securities Exchange
         Act of 1934 for the quarterly period from _______ to _______.


                         Commission file number 1-13162

                              EMPIRIC ENERGY, INC.
             (Exact name of registrant as specified in its charter)



                Texas                                      75-2455467
   (State or other jurisdiction of             (IRS Employer Identification No.)
    incorporation or organization)

         14677 Midway Rd, Suite 207
               Addison, Texas                                   75001
  (Address of principal executive offices)                    (Zip Code)

                                     (972) 387-4100
                  (Registrant's telephone number, including area code)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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
                                                                   ---   ---

As of  November  15, 2000 the  aggregate  market  value of voting  stock held by
non-affiliates,  computed by reference to the closing  price on the OTC Bulletin
Board was $9,821,446.
As of November  15, 2000 the number of shares  outstanding  of the  Registrant's
common stock was 11,976,757.

Transitional Small Business Disclosure Format                   Yes    No X
                                                                   ---   ---

Page 1 of 9 pages contained in the sequential  number system.  The Exhibit Index
is on Page 2 of the sequential
--------------------------------------------------------------------------------

<PAGE>

                              EMPIRIC ENERGY, INC.

                              INDEX TO FORM 10-QSB

                                                                            PAGE
PART I
      Item 1.  Financial Statements........................................... 3
      Item 2.  Management's Discussion and Analysis of Financial Condition
                    and Results of Operations................................. 7
PART II
      Item 1.  Legal Proceedings.............................................. 9
      Item 2.  Changes in Securities.......................................... 9
      Item 3.  Defaults Upon Senior Securities................................ 9
      Item 4.  Submission of Matters to a Vote of Securities Holders.......... 9
      Item 5.  Other Information.............................................. 9
      Item 6.  Exhibits and Reports on Form 8-K............................... 9
SIGNATURE PAGE................................................................ 9






                                     Page 2

<PAGE>

<TABLE>

<CAPTION>

                                     PART I

ITEM 1. FINANCIAL INFORMATION

     The financial statements included herein have been prepared by the Company,
without  audit,  pursuant to the rules and  regulations  of the  Securities  and
Exchange Commission. The financial statements reflect all adjustments which are,
in the opinion of  management,  necessary to fairly  present  such  information.
Although  the Company  believes  that the  disclosures  are adequate to make the
information   presented  not  misleading,   certain   information  and  footnote
disclosure,  including  significant  accounting  policies,  normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles   have  been  condensed  or  omitted   pursuant  to  such  rules  and
regulations.  It is  suggested  that  these  financial  statements  be  read  in
conjunction with the financial  statements and the notes thereto included in the
Company's latest annual report on Form 10-K, dated December 31, 1999.



                              EMPIRIC ENERGY, INC.
                                  BALANCE SHEET
                                                                             September 30,     December 31,
                    ASSETS                                                        2000             1999
                    ------                                                   -------------    -------------
                                                                               (Unaudited)

<S>                                                                          <C>              <C>
CURRENT ASSETS:

         Cash                                                                $     185,285    $      62,575
         Oil and gas sales receivable, net of allowance of doubtful
                  accounts of $24,244 and $24,244 respectively                      19,603           45,047
                                                                             -------------    -------------
                  Total current assets                                             204,888          107,622

PROPERTY AND EQUIPMENT:

         Oil and gas properties (full cost method):

            Unproved leasehold costs                                               234,089          179,609

            Proved leasehold costs and well equipment                            4,912,453        4,658,398

         Less accumulated depletion, depreciation and impairment                (2,664,919)      (2,603,395)
                                                                             -------------    -------------
                  Net property and equipment                                     2,481,623        2,234,612

OTHER FURNITURE AND EQUIPMENT, net of accumulated
depreciation of $30,230 and $26,861 respectively                                     4,280            7,649

DEPOSITS                                                                             5,023            3,281
                                                                             -------------    -------------
                           Total assets                                      $   2,695,814    $   2,353,164
                                                                             =============    =============


</TABLE>


                                     Page 3

<PAGE>

<TABLE>

<CAPTION>

                   LIABILITIES AND STOCKHOLDER'S EQUITY                  September 30,   December 31,
                   ------------------------------------                       2000           1999
                                                                          -----------    -----------
                                                                          (Unaudited)
<S>                                                                       <C>            <C>

CURRENT LIABILITIES

         Current portion of long-term debt, including related parties     $    55,000    $   371,602

         Accounts payable and accrued expenses                                188,667        298,250

         Accrued interest payable, including related parties                    2,074         29,486

         Oil and Gas revenues payable                                          34,970         11,962

         Due to related parties                                                97,769        114,540
                                                                          -----------    -----------
                                    Total current liabilities                 378,480        825,840

LONG- TERM DEBT, net of current portion, including related parties               --          223,849

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY

         Series A Convertible preferred stock, no par value, $575,000
                  liquidation preference                                       43,168         43,168

         Series B Convertible Preferred stock, $.05 par value, $50,000
                  liquidation preference                                          313           --

         Series C Convertible Preferred stock, $.05 par value, $350,000
                  Liquidation preference                                        2,800           --

         Common stock, $.01 par value, 20,000,000 shares authorized;
                  11,180,163 and 9,046,027 issued and
                  outstanding, respectively                                   111,802         90,461

         Common stock subscribed, 472,500 shares and 56,475 shares,
                  respectively                                                  4,725
                                                                                                 469
         Additional paid-in capital                                         7,461,033      5,882,146

         Receivables                                                          (74,061)       (99,061)

         Obligation to repurchase treasury stock                                 --          (11,875)

         Accumulated deficit                                               (5,232,446)    (4,601,833)
                                                                          -----------    -----------
                                    Total stockholders' equity              2,317,334      1,303,475
                                                                          -----------    -----------
                           Total liabilities and stockholders' equity     $ 2,695,814    $ 2,353,164
                                                                          ===========    ===========

</TABLE>


                                     Page 4

<PAGE>

<TABLE>

<CAPTION>

                              EMPIRIC ENERGY, INC.
                       CONDENSED STATEMENTS OF OPERATIONS


                                                   Nine Months Ended              Three Months Ended
                                               September       September       September       September
                                                30, 2000        30, 1999        30, 2000        30, 1999
                                              (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)
                                             ------------    ------------    ------------    ------------
<S>                                          <C>             <C>             <C>             <C>
REVENUE:

   Oil and gas sales                         $     91,658    $    139,592    $      8,150    $     51,343

COSTS AND EXPENSES:
         Production Expense                        96,723          83,527          28,253          51,156

         Depletion and Depreciation                64,893         134,553           1,123          44,885

         General and Administrative               574,744         419,960         194,269         188,929
                                             ------------    ------------    ------------    ------------
              Total Costs and Expenses            736,360         638,040         223,645         284,970



OTHER INCOME (EXPENSE):

         Consulting Income                            354             945            --              --

         Other Income                              47,295          62,649          47,295          37,500

         Interest Expense                         (33,560)        (54,253)         (1,738)        (14,630)
                                             ------------    ------------    ------------    ------------
              Total other income (expense)         14,089           9,341          45,557          22,870


NET LOSS                                     $   (630,613)   $   (489,107)   $   (169,938)   $   (210,757)
                                             ============    ============    ============    ============


BASIC AND DILUTED                            $       (.07)   $       (.06)   $       (.02)   $      (0.02)
NET LOSS PER SHARE
                                             ============    ============    ============    ============


WEIGHTED AVERAGE                                9,418,644       8,148,844      10,670,374       8,445,980
SHARES OUTSTANDING
                                             ============    ============    ============    ============

</TABLE>

                                     Page 5

<PAGE>

<TABLE>

<CAPTION>

                              EMPIRIC ENERGY, INC.
                             STATEMENT OF CASH FLOWS


                                                                                   Nine Months Ended
                                                                             September 30,   September 30,
                                                                                 2000            1999
                                                                              (Unaudited)     (Unaudited)
                                                                               ---------       ---------
<S>                                                                            <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
    Net loss                                                                   $(630,613)      $(489,107)
    Adjustments to reconcile net loss to net cash from operating activities:
        Depletion, depreciation and impairment                                    64,893         134,553
        Amortization of debt discount                                             11,782            --
        Common stock, warrants and options issued for services                   176,227          99,335
    Changes in assets and liabilities:
            Accounts receivable                                                   25,453         (33,247)
            Accounts payable and accrued expenses                                 21,551         172,270
            Oil and gas revenues payable                                          23,008          (1,004)
            Due to related parties                                               102,532          (3,750)
            Other                                                                 70,114          (3,693)
                                                                               ---------       ---------
                  Net cash used by operating activities                         (135,053)       (124,643)



CASH FLOWS FROM INVESTING ACTIVITIES:
    Purchase of oil and gas properties                                          (107,775)       (343,363)



CASH FLOWS FROM FINANCING ACTIVITIES:
    Proceeds from long-term debt                                                    --           342,784
    Repayments of long-term debt                                                  (1,012)        (85,437)
    Proceeds from sales of common and preferred stock                            366,550         400,405
                                                                               ---------       ---------
                  Net cash provided by financing activities                      365,538         657,752
                                                                               ---------       ---------

NET INCREASE (DECREASE) IN CASH                                                  122,710         189,746
CASH, beginning of the period                                                     62,575             721
                                                                               ---------       ---------

CASH, end of the period                                                          185,285       $ 190,467
                                                                               =========       =========
SUPPLEMENTAL INFORMATION
    Cash paid during period for interest                                       $   1,634       $  53,252
                                                                               =========       =========

    Conversion of liabilities to common and preferred stock                    $ 801,658       $    --
                                                                               =========       =========

    Issuance of stock to acquire oil and gas properties                        $ 200,760       $    --
                                                                               =========       =========

    Stock Dividends                                                            $  43,750       $    --
                                                                               =========       =========

</TABLE>

NOTES TO FINANCIAL STATEMENTS

     See notes to financial  statements  included in the  Company's  1999 Annual
Report on Form 10-KSB.

                                     Page 6

<PAGE>

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


COMPARISON OF SEPTEMBER 30, 2000 QUARTER TO SEPTEMBER 30, 1999 QUARTER

     Revenues of $8,150 were  $68,074 or 88% lower than 1999.  The  decrease was
due to our South Texas properties being shut in from July 1 to September 29, due
to the gas  transportation  pipeline  being  shut  in.  Gas  production  resumed
September 29.

     Production  expense of  $28,253  was  $22,903  or 45% lower than 1999.  The
production  expense was lower due to the  properties  being shut in as described
above.

     Depletion  and  depreciation  expenses of $1,123 were  $43,762 or 97% lower
than 1999. The reduction was due to the properties being shut in and an increase
in management's estimate of reserves.

     General and  Administrative  expense  of  $194,269  was $5,340 or 3% higher
than 1999.

     Interest  expense  of $1,738  was  $12,892  or 88%  lower  than  1999.  The
difference was due to a lower level of debt in the 2000 quarter.

COMPARISON OF NINE MONTHS ENDED SEPTEMBER 30, 2000 TO SEPTEMBER 30, 1999

     Revenues of $91,658 were  $47,934 or 34% lower than 1999.  The decrease was
due to production from the South Texas properties being shut in for the quarter.

     Production  expense of $96,723  was  $13,196 or 16% higher  than 1999.  The
production  expense  was higher  due to work being done on wells in South  Texas
that was expensed.

     Depletion  and  depreciation  expenses of $64,893 were $69,660 or 52% lower
than  1999.  The  reduction  was due to lower  production  from the South  Texas
properties and an increase in management's estimates of reserves.

     General and  Administrative  expense of $574,744 was $154,784 or 37% higher
than 1999.  The  expenses  were  higher due to issuing  stock and  warrants  for
financial services and a reduction in revenue accruals. Actual cash expenses for
the quarters were similar.

     Interest  expense of  $33,560  was  $20,693  or 38% lower  than  1999.  The
difference was due to a lower level of debt in 2000.

     As noted in the annual  financial  statements,  the  Company  has  suffered
recurring losses from operations.  Future positive results are a function of the
Company's  ability to raise capital or utilize  securities to acquire  producing
properties or drill  developmental  wells in order to generate  profits.  In the
event the Company is not able to raise capital or acquire  properties,  there is
doubt about the Company's ability to continue as a going concern.

LIQUIDITY

     Cash flows  provided  an increase  of  $122,710  leaving a cash  balance of
$185,285 at  September  30,  2000.  Net cash used by  operating  activities  was
$135,053 due primarily to the net loss of $630,613,  offset by non cash expenses
and the  increases  in the  accruals  of current  liabilities.  Net cash used by
investing  activities  was  $107,775  which was  primarily  for the  purpose  of
purchasing oil and gas properties.  Financing activities provided $365,538 which
was primarily from sale of securities.

     During the nine months  ended  September  30, 2000,  the Company  exchanged
debt, accounts payable and accrued interest totalling approximately $801,000 for
common and preferred stock.

                                     Page 7

<PAGE>

     At  September  30,  2000,  the  Company  had a working  capital  deficit of
$173,592 and a debt to equity ratio of approximately .16 to 1. The Company needs
and is seeking  the  infusion  of working  capital  for  expanded  drilling  and
developmental  programs,  for further  debt  reduction  and for  acquisition  of
production properties to obtain improved cash flow.


SUBSEQUENT EVENTS

     The Company has continued its program of exchanging securities for debt and
payables.

     During September, 2000 the Company acquired a 13% working interest in 1,086
acres of oil and gas leases in the South Thornwell Field in South Louisiana with
a combination of cash and stock. The leases have four non-producing wells on the
property,  all of which have  produced in the past.  There are also a minimum of
three  drilling  locations,  which would  probably be classified as  development
wells. The company plans to re-enter the four wells to re-complete them in zones
varying  from  12,450 ft to 15,200 ft. The first  re-entry  is  currently  being
completed  at 12,450 ft after  evaluation  logs were run to 13,800  ft. The logs
indicated two potential producing zones at 12,450 ft and 13,800 ft. Plans are to
move to a second well on the lease  immediately  after  re-completing  the first
well and  re-complete  in the 13,800 ft zone.  In early  November,  the  Company
acquired an additional 5% working interest in the project with common stock.

     Similar wells in the South  Thornwell  Field have produced at rates varying
from 5 million cubic feet and 200 barrels per day to as high as 15 million cubic
feet and 500 barrels per day. There can be no assurance that the wells to be re-
completed will achieve the same or similar rates.

     In  early  October,  2000,  one of the  founding  members  of the  Board of
Directors,  Clyde E. Skeen, died. He had served faithfully from inception of the
Company until the day of his death.  In addition,  he served as Chief  Financial
Officer and Secretary of the Company during the entire period.  His duties as an
officer will be shared by the remaining  executive  officers,  James J. Ling and
Renn Rothrock, Jr. until a replacement can be found.


STRATEGY, BUSINESS PLANS AND NEED FOR THE INFUSION OF CAPITAL



     All of the Company's  plans to  strengthen  its  financial  capability  for
development  and growth  involve  the need for the  infusion  of capital  funds.
Sources of financing,  involving  the issuance of debt and equity  securities as
well as  acquisitions  and business  combinations  with companies in the related
energy  business,   are  being   investigated.   The  Company  has  drafted  for
consideration  before formal  release a Private  Placement  Offering  Memorandum
involving the issuance of up to $1,500,000  in equity  securities  consisting of
Convertible  Preferred  Stock,  convertible  into  restricted  common stock.  No
minimums  will be  included if this  financing  plan is  activated.  Seven units
totalling  $350,000 of these securities have been issued through the date of the
filing of this Form 10-QSB for either cash or exchange of debt..



                                     Page 8

<PAGE>

                                    PART II.

ITEM 1. LEGAL PROCEEDINGS

     The  Company  is  involved  in  litigation  in the  ordinary  course of its
business and operations.  The Company does not expect the outcome of any current
litigation  to have a material  impact on its  financial  position or results of
operations.

ITEM 2. CHANGES IN SECURITIES

     During the Quarter ended  September 30, 2000, the Company issued  1,049,600
shares of common  stock,  $.01 par value and 56,000 shares of Series C preferred
stock, $.05 par value. None of the securities were registered.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

     The Company was in default on $15,000  principal  value of notes payable as
of September 30, 2000.

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

     At the Annual Meeting of Shareholders, held July 27, 2000 at the offices of
the Company,  there were two matters  submitted  to a vote of security  holders.
James J.  Ling,  Renn  Rothrock,  Jr.  and Clyde E.  Skeen  were  re-elected  as
Directors  of the  Company to serve  until the next  annual  meeting  and Hein +
Associates,  LLP was  confirmed as  Independent  Auditors of the Company for the
year 2000.

ITEM 5. OTHER INFORMATION

     None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

     There were no reports filed on Forms 8-K.

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

Date:  November 17, 2000
     -------------------
                                  EMPIRIC ENERGY, INC.




                                  By: /s/ James J. Ling
                                     -------------------------------------
                                      James J. Ling
                                      Chairman and Chief Executive Officer


                                  By: /s/ R. Renn Rothrock, Jr.
                                     -------------------------------------
                                      R. Renn Rothrock, Jr.
                                      President and Chief Operating Officer





                                     Page 9