<ARTICLE> 5 <CIK> 0000868809 <NAME> CROSS TIMBERS OIL COMPANY <MULTIPLIER> 1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> DEC-31-1998 <CASH> 12,333 <SECURITIES> 44,386 <RECEIVABLES> 50,607 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 137,578 <PP&E> 1,370,518 <DEPRECIATION> 319,507 <TOTAL-ASSETS> 1,207,594 <CURRENT-LIABILITIES> 99,588 <BONDS> 921,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 28,468 <COMMON> 541 <OTHER-SE> 148,442 <TOTAL-LIABILITY-AND-EQUITY> 1,207,594 <SALES> 249,486 <TOTAL-REVENUES> 249,486 <CGS> 0 <TOTAL-COSTS> 209,224 <OTHER-EXPENSES> 93,719 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 52,113 <INCOME-PRETAX> (105,570) <INCOME-TAX> (35,851) <INCOME-CONTINUING> (69,719) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (71,498) <EPS-PRIMARY> (1.65) <EPS-DILUTED> (1.65)