UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

                Date of Report (Date of earliest event reported):
                           May 18, 2000 (May 3, 2000)


                       ST. MARY LAND & EXPLORATION COMPANY
             (Exact name of registrant as specified in its charter)

    Delaware                       0-20872                       41-0518430
 (State or other              (Commission File                 (I.R.S Employer
 jurisdiction of                   Number)                   Identification No.)
incorporation or
  organization)


             1776 Lincoln Street, Suite 1100, Denver, Colorado 80203
               (Address of principal executive offices) (Zip Code)


       Registrant's telephone number, including area code: (303) 861-8140


                                 Not applicable

          (Former name or former address, if changed since last report)


ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS

          On May 3, 2000, St. Mary Land & Exploration  Company (the  "Company"),
     through a  subsidiary,acquired  certain  producing and nonproducing oil and
     gas properties in the Williston  Basin in eastern Montana and western North
     Dakota from Tipperary  Corporation  for a purchase price of $7.6 million in
     cash.  The  transaction  was  consummated  pursuant to a Purchase  and Sale
     Agreement dated April 10, 2000, effective as of March 1, 2000.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

     (a) Financial statements of businesses acquired.

          The  Company  is  currently  in the  process  of  determining  whether
     financial  statements for the acquired  properties are required to be filed
     with this report.  If it is determined  that such financial  statements are
     required  to be filed,  the Company  will file  pursuant to SEC rules those
     financial  statements by an amendment to this report no later than July 17,
     2000.

     (b) Pro forma financial information.

          The Company is  currently  in the process of  determining  whether pro
     forma  financial  statements  which give effect to the  acquisition  of the
     acquired  properties  are required to be filed with this  report.  If it is
     determined  that such pro forma  financial  statements  are  required to be
     filed,  the  Company  will  file  pursuant  to SEC  rules  those  pro forma
     financial  statements by an amendment to this report no later than July 17,
     2000.



                                   SIGNATURES

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

                       ST. MARY LAND & EXPLORATION COMPANY

Date: May 18, 2000                                 By /s/ MARK A. HELLERSTEIN
                                                   --------------------------
                                                   Mark A. Hellerstein
                                                   President and Chief Executive
                                                   Officer

Date: May 18, 2000                                 By  /s/ RICHARD C. NORRIS
                                                   -------------------------
                                                   Richard C. Norris
                                                   Vice President  -  Finance,
                                                   Treasurer and Secretary