- --------------------------------------------------------------------------------






                                  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 2, 1996



                          PATINA OIL & GAS CORPORATION

             (Exact name of registrant as specified in its charter)




     Delaware                       1-14344                     75-2629477
(State or other jurisdiction   (Commission  File               (IRS Employer
       of incorporation)            Number)                 Identification No.)




1625 Broadway
Denver, Colorado                                                   80202
(Address of principal executive offices)                         (Zip Code)



       Registrant's telephone number, including area code: (303) 592-4600



- --------------------------------------------------------------------------------




<PAGE>



Item 2.           Acquisition or Disposition of Assets.

         As announced on May 2, 1996, the merger (the "Merger") of Gerrity Oil &
Gas Corporation  ("Gerrity") into a wholly-owned  subsidiary of Patina Oil & Gas
Corporation  ("Patina") occurred on May 2, 1996 following approval of the Merger
by Gerrity's common  shareholders.  As a result of the Merger,  Gerrity became a
wholly-owned  subsidiary of Patina.  Simultaneously with the Merger,  Snyder Oil
Corporation  ("SOCO")  contributed  all its  assets and  operations,  subject to
certain  limitations,  in the  Wattenberg  Field of Colorado  ("Wattenberg")  to
Patina (the "Contribution"). In connection with the Contribution, Patina assumed
$75 million of bank debt from SOCO.

         With the closing of the  transaction,  Patina  holds  interests in over
3,600 Wattenberg  wells. As of December 31, 1995, Patina has net proved reserves
of 82 million barrels of oil equivalent  ("BOE"),  over two-thirds of which were
natural gas. Patina's production currently exceeds 20,000 BOE per day.

         SOCO owns an aggregate of 14,000,000  shares of common stock of Patina,
of which  12,000,000 are common stock,  par value $.01 per share ("Patina Common
Stock"), and 2,000,000 are Series A Common Stock. The Series A Common Stock is a
special series of common stock of Patina having three votes per share,  and will
convert  automatically into ordinary Patina Common Stock (i.e.,  shares with one
vote per share) upon transfer of those shares by SOCO to a  non-affiliate  or if
Patina ceases to be included in the consolidated  financial  statements of SOCO.
Thus, SOCO owns 70% of the outstanding  shares of the common stock of Patina and
holds 75% of the voting power of Patina's common stock.

         Pursuant  to the terms of the  Merger,  the  shares of common  stock of
Gerrity issued and  outstanding  immediately  prior to the effective time of the
Merger were  converted  into an aggregate of 6,000,000  shares of Patina  Common
Stock and 3,000,000 five-year warrants initially to purchase one share of Patina
Common Stock at an exercise price of $12.50 per share (the "Patina Warrants").

         In addition,  pursuant to an exchange offer, approximately 75.3% of the
depositary shares  representing  Gerrity's $12 convertible  preferred stock were
accepted  by Patina  for  exchange  into  approximately  1.2  million  shares of
Patina's 7 1/8% convertible  preferred stock (the "Patina Preferred Stock"). The
Patina  Preferred Stock has a liquidation  preference of $25.00 per share,  pays
quarterly  dividends  at the rate of 7 1/8% per  year  and is  convertible  into
Patina Common Stock at a conversion  price of $12.30,  which conversion price is
subject to  downward  adjustment  after the Merger to equal 123% of the  average
closing  price of the Patina  Common stock for the ten trading days  immediately
following the 60th day after the Merger,  subject to a minimum  conversion price
of $8.61.

         Patina  also issued a  five-year  warrant for 500,000  shares of Patina
Common  Stock,  at a price equal to the average  closing price during the 10-day
period  following the Merger,  to Robert W. Gerrity,  who resigned as an officer
and director of Gerrity in connection with the transaction.

         Patina's  long-term debt,  after all transaction  costs, is expected to
approximate  $215  initially.  Patina has  entered  into a $240  million  credit
facility  with  Texas  Commerce  Bank  National  Association,  which  serves  as
Administrative Agent, NationsBank of Texas, N.A., Documentation


<PAGE>



Agent,  and CIBC,  Inc.,  Credit  Lyonnais New York Branch and Wells Fargo Bank,
N.A., as co- agents.  The facility will be used to refinance  debt to be assumed
in the transaction,  including  approximately  $100 million of bank debt assumed
from SOCO and Gerrity and up to $100  million of Gerrity's  senior  subordinated
notes if the  holders  exercise  their  right to put the notes to  Gerrity.  $87
million  of the  facility  may be  used  only  to  repurchase  Gerrity's  senior
subordinated  notes.  The balance of the facility  will be available for working
capital.

         The  Amended  and  Restated  Agreement  and Plan of Merger  dated as of
January  16, 1996 as amended  and  restated  as of March 20,  1996 (the  "Merger
Agreement"),  which was negotiated between  representatives of SOCO and Gerrity,
provides  that  any   contracts  or   transactions   (other  than   transactions
contemplated  by  the  Merger   Agreement)   involving  Patina  or  any  of  its
subsidiaries  in which SOCO or any of its  subsidiaries  has any interest (other
than an interest  solely as a stockholder of Patina) shall be approved by either
(a) a majority of the disinterested directors of Patina or (b) a majority of any
committee  established by the Patina Board of Directors that consists  solely of
directors that are  disinterested.  In addition,  in accordance  with the Merger
Agreement,  SOCO and Patina have entered into  certain  agreements,  including a
Business     Opportunity     Agreement,     Corporate    Services     Agreement,
Cross-Indemnification  Agreement and Registration  Rights  Agreement,  that will
govern the relationship between SOCO and Patina following the Merger.

         The  descriptions  of  the  Merger  Agreement,   Business   Opportunity
Agreement,  Corporate Services  Agreement,  Cross-Indemnification  Agreement and
Registration  Rights  Agreement  included in this Report are  summaries  and are
qualified in their entirety by the respective  terms of such  agreements,  which
are filed as exhibits to this Report and are incorporated herein by reference.

 Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

(a)     Financial Statements of Businesses Acquired.

        The following financial  statements of Gerrity Oil & Gas Corporation are
hereby  incorporated  by reference from the Amendment No. 2 to the  Registration
Statement on Form S-4 of Patina (Registration No. 333-572):

         (i)    Report of Independent Public Accountants

         (ii)   Report of Independent Accountants

         (iii)  Consolidated Balance Sheets as of December 31, 1994 and 1995

         (iv)   Consolidated Statements of Operations for the Years Ended
                December 31, 1993, 1994 and 1995

         (v)    Consolidated  Statements of  Stockholders'  Equity for the Years
                Ended December 31, 1993, 1994 and 1995

         (vi)   Consolidated Statements of Cash Flows for the Years Ended
                December 31, 1993, 1994 and 1995
<PAGE>



         (vii)  Notes to Consolidated Financial Statements

         The following financial statements of Gerrity Oil & Gas Corporation are
hereby  incorporated by reference from the Quarterly Report on Form 10-Q for the
quarterly  period  ended  March  31,  1996  of  Gerrity  Oil &  Gas  Corporation
(Commission file number 0-18667):

         (i)    Consolidated Balance Sheet as of March 31, 1996

         (ii)   Consolidated Statements of Operations for the Three Months Ended
                March 31, 1995 and 1996

         (iii   Consolidated Statements of Cash Flows for the Three Months Ended
                March 31, 1995 and 1996

         (iv)   Notes to Consolidated Financial Statements

(b)      Pro Forma Financial Information.

         The following  unaudited  pro forma  condensed  consolidated  financial
statements  of Patina are hereby  incorporated  by  reference  from Exhibit 99.1
filed herewith:

         (i)    Unaudited Pro Forma Condensed  Consolidated  Balance Sheet as of
                March 31, 1996

         (ii)   Unaudited  Pro  Forma   Condensed   Consolidated   Statement  of
                Operations for the Year ended December 31, 1995

         (iii)  Unaudited Pro Form Condensed Consolidated Statement of
                Operations for the three months ended March 31, 1996

         (iv)   Notes to Unaudited Pro Forma  Condensed  Consolidated  Financial
                Statements

(c)       Exhibits.
          ---------

2.1      Amended and Restated  Agreement  and Plan of Merger dated as of January
         16, 1996 as amended and  restated as of March 20, 1996 --  incorporated
         by  reference  to Exhibit 2.1 to  Amendment  No. 1 to the  Registration
         Statement on Form S-4 of Patina Oil & Gas Corporation (Registration No.
         333-572)

2.2      Business Opportunity Agreement


<PAGE>


2.3      Corporate  Services  Agreement --  incorporated by reference to Exhibit
         2.3 to the  Registration  Statement  on Form  S-4 of  Patina  Oil & Gas
         Corporation (Registration No. 333-572)

2.4      Registration Rights Agreement

2.5      Cross Indemnification Agreement

10.l     Credit  Agreement  dated  as of  May 2,  1996  among  Patina  Oil & Gas
         Corporation,  SOCO  Wattenberg  Corporation  and  Gerrity  Oil  and Gas
         Corporation,  as borrowers,  certain financial institutions,  as banks,
         Texas  Commerce Bank National  Association,  as  Administrative  Agent,
         NationsBank of Texas, N.A., as Documentary Agent, and CIBC, Inc. Credit
         Lyonnais New York Branch and Wells Fargo Bank, N.A., as Co-Agents

10.2     Subordinate  Loan  Agreement  dated  as  of  May  2,  1996  among  SOCO
         Wattenberg  Corporation and Patina Oil & Gas  Corporation,  as lenders,
         and Gerrity Oil & Gas Corporation, as borrower

99.1     Unaudited  Pro Forma  Condensed  Consolidated  Financial  Statements of
         Patina

99.2     Audited  Consolidated   Financial  Statements  of  Gerrity  Oil  &  Gas
         Corporation  as of  December  31, 1994 and 1995 and for the years ended
         December  31,  1993,  1994 and 1995 --  incorporated  by  reference  to
         Amendment No. 2 to the Registration Statement on Form S-4 of Patina Oil
         & Gas Corporation (Registration No. 333-572)

99.3     Unaudited  Consolidated  Financial  Statements  of  Gerrity  Oil  & Gas
         Corporation  as of March 31, 1996 and for the three  months ended March
         31, 1995 and 1996 -- incorporated by reference to the Quarterly  Report
         on Form 10-Q for the  quarterly  period ended March 31, 1996 of Gerrity
         Oil & Gas Corporation (Commission File No. 0-18667)



<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.





                                           PATINA OIL & GAS CORPORATION


                                           By: /s/David J. Kornder
                                              --------------------------
                                                  David J. Kornder
                                                   Vice President

May 17, 1996



<PAGE>
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- --------------------------------------------------------------------------------

                                  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 2, 1996

                          PATINA OIL & GAS CORPORATION

             (Exact name of registrant as specified in its charter)

     Delaware                       1-14344                     75-2629477
(State or other jurisdiction   (Commission  File               (IRS Employer
       of incorporation)            Number)                 Identification No.)

1625 Broadway
Denver, Colorado                                                   80202
(Address of principal executive offices)                         (Zip Code)

       Registrant's telephone number, including area code: (303) 592-4600

- --------------------------------------------------------------------------------
Item 2.           Acquisition or Disposition of Assets.

         As announced on May 2, 1996, the merger (the "Merger") of Gerrity Oil &
Gas Corporation  ("Gerrity") into a wholly-owned  subsidiary of Patina Oil & Gas
Corporation  ("Patina") occurred on May 2, 1996 following approval of the Merger
by Gerrity's common  shareholders.  As a result of the Merger,  Gerrity became a
wholly-owned  subsidiary of Patina.  Simultaneously with the Merger,  Snyder Oil
Corporation  ("SOCO")  contributed  all its  assets and  operations,  subject to
certain  limitations,  in the  Wattenberg  Field of Colorado  ("Wattenberg")  to
Patina (the "Contribution"). In connection with the Contribution, Patina assumed
$75 million of bank debt from SOCO.

         With the closing of the  transaction,  Patina  holds  interests in over
3,600 Wattenberg  wells. As of December 31, 1995, Patina has net proved reserves
of 82 million barrels of oil equivalent  ("BOE"),  over two-thirds of which were
natural gas. Patina's production currently exceeds 20,000 BOE per day.

         SOCO owns an aggregate of 14,000,000  shares of common stock of Patina,
of which  12,000,000 are common stock,  par value $.01 per share ("Patina Common
Stock"), and 2,000,000 are Series A Common Stock. The Series A Common Stock is a
special series of common stock of Patina having three votes per share,  and will
convert  automatically into ordinary Patina Common Stock (i.e.,  shares with one
vote per share) upon transfer of those shares by SOCO to a  non-affiliate  or if
Patina ceases to be included in the consolidated  financial  statements of SOCO.
Thus, SOCO owns 70% of the outstanding  shares of the common stock of Patina and
holds 75% of the voting power of Patina's common stock.

         Pursuant  to the terms of the  Merger,  the  shares of common  stock of
Gerrity issued and  outstanding  immediately  prior to the effective time of the
Merger were  converted  into an aggregate of 6,000,000  shares of Patina  Common
Stock and 3,000,000 five-year warrants initially to purchase one share of Patina
Common Stock at an exercise price of $12.50 per share (the "Patina Warrants").

         In addition,  pursuant to an exchange offer, approximately 75.3% of the
depositary shares  representing  Gerrity's $12 convertible  preferred stock were
accepted  by Patina  for  exchange  into  approximately  1.2  million  shares of
Patina's 7 1/8% convertible  preferred stock (the "Patina Preferred Stock"). The
Patina  Preferred Stock has a liquidation  preference of $25.00 per share,  pays
quarterly  dividends  at the rate of 7 1/8% per  year  and is  convertible  into
Patina Common Stock at a conversion  price of $12.30,  which conversion price is
subject to  downward  adjustment  after the Merger to equal 123% of the  average
closing  price of the Patina  Common stock for the ten trading days  immediately
following the 60th day after the Merger,  subject to a minimum  conversion price
of $8.61.

         Patina  also issued a  five-year  warrant for 500,000  shares of Patina
Common  Stock,  at a price equal to the average  closing price during the 10-day
period  following the Merger,  to Robert W. Gerrity,  who resigned as an officer
and director of Gerrity in connection with the transaction.

         Patina's  long-term debt,  after all transaction  costs, is expected to
approximate  $215  initially.  Patina has  entered  into a $240  million  credit
facility  with  Texas  Commerce  Bank  National  Association,  which  serves  as
Administrative Agent, NationsBank of Texas, N.A., Documentation
Agent,  and CIBC,  Inc.,  Credit  Lyonnais New York Branch and Wells Fargo Bank,
N.A., as co- agents.  The facility will be used to refinance  debt to be assumed
in the transaction,  including  approximately  $100 million of bank debt assumed
from SOCO and Gerrity and up to $100  million of Gerrity's  senior  subordinated
notes if the  holders  exercise  their  right to put the notes to  Gerrity.  $87
million  of the  facility  may be  used  only  to  repurchase  Gerrity's  senior
subordinated  notes.  The balance of the facility  will be available for working
capital.

         The  Amended  and  Restated  Agreement  and Plan of Merger  dated as of
January  16, 1996 as amended  and  restated  as of March 20,  1996 (the  "Merger
Agreement"),  which was negotiated between  representatives of SOCO and Gerrity,
provides  that  any   contracts  or   transactions   (other  than   transactions
contemplated  by  the  Merger   Agreement)   involving  Patina  or  any  of  its
subsidiaries  in which SOCO or any of its  subsidiaries  has any interest (other
than an interest  solely as a stockholder of Patina) shall be approved by either
(a) a majority of the disinterested directors of Patina or (b) a majority of any
committee  established by the Patina Board of Directors that consists  solely of
directors that are  disinterested.  In addition,  in accordance  with the Merger
Agreement,  SOCO and Patina have entered into  certain  agreements,  including a
Business     Opportunity     Agreement,     Corporate    Services     Agreement,
Cross-Indemnification  Agreement and Registration  Rights  Agreement,  that will
govern the relationship between SOCO and Patina following the Merger.

         The  descriptions  of  the  Merger  Agreement,   Business   Opportunity
Agreement,  Corporate Services  Agreement,  Cross-Indemnification  Agreement and
Registration  Rights  Agreement  included in this Report are  summaries  and are
qualified in their entirety by the respective  terms of such  agreements,  which
are filed as exhibits to this Report and are incorporated herein by reference.

 Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

(a)     Financial Statements of Businesses Acquired.

        The following financial  statements of Gerrity Oil & Gas Corporation are
hereby  incorporated  by reference from the Amendment No. 2 to the  Registration
Statement on Form S-4 of Patina (Registration No. 333-572):

         (i)    Report of Independent Public Accountants

         (ii)   Report of Independent Accountants

         (iii)  Consolidated Balance Sheets as of December 31, 1994 and 1995

         (iv)   Consolidated Statements of Operations for the Years Ended
                December 31, 1993, 1994 and 1995

         (v)    Consolidated  Statements of  Stockholders'  Equity for the Years
                Ended December 31, 1993, 1994 and 1995

         (vi)   Consolidated Statements of Cash Flows for the Years Ended
                December 31, 1993, 1994 and 1995
(vii)  Notes to Consolidated Financial Statements

         The following financial statements of Gerrity Oil & Gas Corporation are
hereby  incorporated by reference from the Quarterly Report on Form 10-Q for the
quarterly  period  ended  March  31,  1996  of  Gerrity  Oil &  Gas  Corporation
(Commission file number 0-18667):

         (i)    Consolidated Balance Sheet as of March 31, 1996

         (ii)   Consolidated Statements of Operations for the Three Months Ended
                March 31, 1995 and 1996

         (iii   Consolidated Statements of Cash Flows for the Three Months Ended
                March 31, 1995 and 1996

         (iv)   Notes to Consolidated Financial Statements

(b)      Pro Forma Financial Information.

         The following  unaudited  pro forma  condensed  consolidated  financial
statements  of Patina are hereby  incorporated  by  reference  from Exhibit 99.1
filed herewith:

         (i)    Unaudited Pro Forma Condensed  Consolidated  Balance Sheet as of
                March 31, 1996

         (ii)   Unaudited  Pro  Forma   Condensed   Consolidated   Statement  of
                Operations for the Year ended December 31, 1995

         (iii)  Unaudited Pro Form Condensed Consolidated Statement of
                Operations for the three months ended March 31, 1996

         (iv)   Notes to Unaudited Pro Forma  Condensed  Consolidated  Financial
                Statements

(c)       Exhibits.
          ---------

2.1      Amended and Restated  Agreement  and Plan of Merger dated as of January
         16, 1996 as amended and  restated as of March 20, 1996 --  incorporated
         by  reference  to Exhibit 2.1 to  Amendment  No. 1 to the  Registration
         Statement on Form S-4 of Patina Oil & Gas Corporation (Registration No.
         333-572)

2.2      Business Opportunity Agreement
2.3      Corporate  Services  Agreement --  incorporated by reference to Exhibit
         2.3 to the  Registration  Statement  on Form  S-4 of  Patina  Oil & Gas
         Corporation (Registration No. 333-572)

2.4      Registration Rights Agreement

2.5      Cross Indemnification Agreement

10.l     Credit  Agreement  dated  as of  May 2,  1996  among  Patina  Oil & Gas
         Corporation,  SOCO  Wattenberg  Corporation  and  Gerrity  Oil  and Gas
         Corporation,  as borrowers,  certain financial institutions,  as banks,
         Texas  Commerce Bank National  Association,  as  Administrative  Agent,
         NationsBank of Texas, N.A., as Documentary Agent, and CIBC, Inc. Credit
         Lyonnais New York Branch and Wells Fargo Bank, N.A., as Co-Agents

10.2     Subordinate  Loan  Agreement  dated  as  of  May  2,  1996  among  SOCO
         Wattenberg  Corporation and Patina Oil & Gas  Corporation,  as lenders,
         and Gerrity Oil & Gas Corporation, as borrower

99.1     Unaudited  Pro Forma  Condensed  Consolidated  Financial  Statements of
         Patina

99.2     Audited  Consolidated   Financial  Statements  of  Gerrity  Oil  &  Gas
         Corporation  as of  December  31, 1994 and 1995 and for the years ended
         December  31,  1993,  1994 and 1995 --  incorporated  by  reference  to
         Amendment No. 2 to the Registration Statement on Form S-4 of Patina Oil
         & Gas Corporation (Registration No. 333-572)

99.3     Unaudited  Consolidated  Financial  Statements  of  Gerrity  Oil  & Gas
         Corporation  as of March 31, 1996 and for the three  months ended March
         31, 1995 and 1996 -- incorporated by reference to the Quarterly  Report
         on Form 10-Q for the  quarterly  period ended March 31, 1996 of Gerrity
         Oil & Gas Corporation (Commission File No. 0-18667)
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.

                                           PATINA OIL & GAS CORPORATION

                                           By: /s/David J. Kornder
                                              --------------------------
                                                  David J. Kornder
                                                   Vice President

May 17, 1996