U.S. SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549

                           FORM 12b-25

                   NOTIFICATION OF LATE FILING

(Check One):

[X] Form 10-K [] Form 20-F [] Form 11-K [] Form 10-Q [] Form N-SAR
     For Period Ended:  December 31, 1998
     [  ] Transition Report on Form 10-K 
     [  ] Transition Report on Form 20-F 
     [  ] Transition Report on Form 11-K 
     [  ] Transition Report on Form 10-Q
     [  ] Transition Report on Form N-SAR 
     For the Transition Period Ended:

_________________________________________________________________
Read Attached Instruction Sheet Before Preparing Form.  Please
print or type.

     Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
_________________________________________________________________

     If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
_________________________________________________________________

Part I--Registration Information
_________________________________________________________________

Full Name of Registrant:  Pride Companies, L.P.
                          Commission File No. 1-10473

Former Name if Applicable:  N/A
     
Address of Principal Executive Office:  1209 North Fourth Street
                                        Abilene, Texas  79601
_________________________________________________________________

Part II--Rules 12b-25(b) and (c)
_________________________________________________________________

If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule
12b-25(b), the following should be completed. (Check box if
appropriate.)       [X]

     (a)  The reasons described in reasonable detail in Part III of
this form could not be eliminated without unreasonable effort or
expense;

     (b)  The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion
thereof will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly report
or transition report on Form 10-Q, or portion thereof will be filed
on or before the fifth calendar day following the prescribed due
date; and

     (c)  The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable.
__________________________________________________________________

Part III--Narrative
_________________________________________________________________

State below in reasonable detail the reasons why Form 10-K, 20-F,
11-K, 10-Q, N-SAR or the transition report or portion thereof
could not be filed within the prescribed time period.

The Registrant is issuing new preferred securities in exchange
for the preferred securities issued at the time of the
refinancing that occurred on December 31, 1997.  The consummation
of this transaction is pending but not yet completed.  The
issuance of these securities will affect the financial statements
for the quarters during 1998 and the year ended December 31, 1998
in that the new preferred securities will retroactively amend the
distributions previously declared in 1998.  Accordingly,
additional time is required to complete the financial statements
required to be included in the Form 10-K and which affect other
relevant disclosures throughout the Form 10-K. 
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Part IV--Other Information
_________________________________________________________________

(1)  Name and telephone number of person to contact in regard to
this notification:

          George Percival     (915) 674-8324

(2)  Have all other periodic reports required under section 13 or
15(d) of the Securities Exchange Act of 1934 or section 30 of the
Investment Company Act of 1940 during the preceding 12 months or
for such shorter period that the registrant was required to file
such report(s) been filed?  If the answer is no, identify
report(s).

                    *[X] Yes    [  ] No

*Form 12b-25 was filed with respect to the Form 10-K for the year
ended December 31, 1997.

(3)  Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year
will be reflected by the earnings statements to be included in
the subject report or portion thereof?

                     [X] Yes     [ ] No

If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.

The Form 10-K when filed will report a net loss for the year
ended December 31, 1998 of $8.6 million compared to a net loss of
$45.0 million for the year ended December 31, 1997.

The net loss for 1997 included $41.4 million in costs associated
with ceasing refinery operations.

                      PRIDE COMPANIES, L.P.
           (Name of Registrant as specified in charter)

has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.

Date: March 31, 1999     By:  George Percival
                         Title:  Chief Financial Officer


INSTRUCTION: The form may be signed by an executive officer of
the registrant or by any other duly authorized representative.
The name and title of the person signing the form shall be typed
or printed beneath the signature.  If the statement is signed on
behalf of the registrant by an authorized representative (other
than an executive officer), evidence of the representative's
authority to sign on behalf of the registrant shall be filed with
the form.
_________________________________________________________________

                           ATTENTION 

Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).
_________________________________________________________________

                      GENERAL INSTRUCTIONS

1.   This form is required by Rule 12b-25 (17 CFR 240.12b-25) of
the General Rules and Regulations under the Securities Exchange
Act
of 1934.

2.   One signed original and four conformed copies of this form
and amendments thereto must be completed and filed with the
Securities and Exchange Commission, Washington, D.C. 20549, in
accordance with Rule 0-3 of the General Rules and Regulations
under the Act.  The information contained in or filed with the
Form will be made a matter of the public record in the Commission
files.

3.   A manually signed copy of the form and amendments thereto
shall be filed with each national securities exchange on which
any class of securities of the registrant is registered.

4.   Amendments to the notifications must also be filed on Form
12b-25 but need not restate information that has been correctly
furnished.  The form shall be clearly identified as an amended
notification.

5.   Electronic Filers.  This form shall not be used by
electronic filers unable to timely file a report solely due to
electronic difficulties.  Filers unable to submit a report within
the time period prescribed due to difficulties in electronic
filing should comply with either Rule 201 or Rule 202 of
Regulation S-T (Section 232.201 or Section 232.202 of this
chapter) or apply for an adjustment in filing date pursuant to
Rule 13(b) of Regulation S-T (Section 232.13(b) of this chapter).