UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 10-Q
/x/ Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended September 30, 1995, or
/ / Transition Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from _______ to _______
Commission File No. 2-81398A
PARKER & PARSLEY 83-A, LTD.
(Exact name of Registrant as specified in its charter)
Texas 75-1891384
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
303 West Wall, Suite 101,
Midland, Texas 79701
(Address of principal executive offices) (Zip code)
Registrant's Telephone Number, including area code: (915)683-4768
Not applicable
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 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 / /
Page 1 of 13 pages.
There are no exhibits.
<PAGE>
PARKER & PARSLEY 83-A, LTD.
(A Texas Limited Partnership)
Part I. Financial Information
Item 1. Financial Statements
BALANCE SHEETS
September 30, December 31,
1995 1994
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents, including interest
bearing deposits of $341,784 at September 30
and $99,816 at December 31 $ 342,034 $ 100,066
Accounts receivable - oil and gas sales 134,068 154,457
Accounts receivable - other 51,108 -
----------- -----------
Total current assets 527,210 254,523
Oil and gas properties - at cost, based on the
successful efforts accounting method 17,819,592 19,215,522
Accumulated depletion (13,255,427) (14,084,473)
----------- -----------
Net oil and gas properties 4,564,165 5,131,049
----------- -----------
$ 5,091,375 $ 5,385,572
=========== ===========
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities:
Accounts payable - affiliate $ 91,376 $ 52,109
Partners' capital:
Limited partners (19,505 interests) 4,472,785 4,789,418
General partners 527,214 544,045
----------- -----------
4,999,999 5,333,463
----------- -----------
$ 5,091,375 $ 5,385,572
=========== ===========
The financial information included as of September 30, 1995
has been prepared by management without audit by independent
independent public accountants.
The accompanying notes are an integral part of these statements.
2
<PAGE>
PARKER & PARSLEY 83-A, LTD.
(A Texas Limited Partnership)
STATEMENTS OF OPERATIONS
(Unaudited)
Three months ended Nine months ended
September 30, September 30,
----------------------- -------------------------
1995 1994 1995 1994
---------- ---------- ----------- -----------
Revenues:
Oil and gas sales $ 347,593 $ 382,750 $ 1,085,474 $ 1,085,921
Interest income 5,417 1,742 9,835 3,736
Gain on sale of assets 40,575 - 40,737 -
--------- --------- ---------- ----------
Total revenues 393,585 384,492 1,136,046 1,089,657
Costs and expenses:
Production costs 200,175 206,279 639,797 649,316
General and administrative
expenses 12,231 13,286 35,516 37,288
Depletion 125,539 107,122 377,014 364,619
Abandoned property costs - - - 4,110
--------- --------- ---------- ----------
Total costs and expenses 337,945 326,687 1,052,327 1,055,333
---------- --------- ---------- ----------
Net income $ 55,640 $ 57,805 $ 83,719 $ 34,324
========= ========= ========== ==========
Allocation of net income (loss):
General partners $ 27,660 $ 31,033 $ 91,417 $ 65,068
========= ========= ========== ==========
Limited partners $ 27,980 $ 26,772 $ (7,698) $ (30,744)
========= ========= ========== ==========
Net income (loss) per limited
partnership interest $ 1.44 $ 1.37 $ (.39) $ (1.58)
========= ========= ========== ==========
Distributions per limited
partnership interest $ 5.20 $ 5.50 $ 15.84 $ 14.71
========= ========= ========== ==========
The financial information included herein has been prepared by
management without audit by independent public accountants.
The accompanying notes are an integral part of these statements.
3
<PAGE>
PARKER & PARSLEY 83-A, LTD.
(A Texas Limited Partnership)
STATEMENTS OF PARTNERS' CAPITAL
(Unaudited)
General Limited
partners partners Total
Balance at January 1, 1994 $ 644,718 $ 5,692,338 $ 6,337,056
Distributions (97,409) (287,008) (384,417)
Net income (loss) 65,068 (30,744) 34,324
----------- ------- -----------
Balance at September 30, 1994 $ 612,377 $ 5,374,586 $ 5,986,963
=========== ========= ===========
Balance at January 1, 1995 $ 544,045 $ 4,789,418 $ 5,333,463
Distributions (108,248) (308,935) (417,183)
Net income (loss) 91,417 (7,698) 83,719
----------- ------ -----------
Balance at September 30, 1995 $ 527,214 $ 4,472,785 $ 4,999,999
=========== ========= ===========
The financial information included herein has been prepared by
management without audit by independent public accountants.
The accompanying notes are an integral part of these statements.
4
<PAGE>
PARKER & PARSLEY 83-A, LTD.
(A Texas Limited Partnership)
STATEMENTS OF CASH FLOWS
(Unaudited)
Nine months ended
September 30,
1995 1994
Cash flows from operating activities:
Net income $ 83,719 $ 34,324
Adjustments to reconcile net income to net
cash provided by operating activities:
Depletion 377,014 364,619
Gain on sale of assets (40,737) -
Changes in assets and liabilities:
(Increase) decrease in accounts receivable 20,389 (27,191)
Increase in accounts payable 39,267 35,333
--------- ---------
Net cash provided by operating activities 479,652 407,085
Cash flows from investing activities:
Proceeds from sale of property 180,619 -
(Additions) disposals of oil and gas properties (1,120) 17
--------- ---------
Net cash provided by investing activities 179,499 17
Cash flows from financing activities:
Cash distributions to partners (417,183) (384,417)
--------- ---------
Net increase in cash and cash equivalents 241,968 22,685
Cash and cash equivalents at beginning of period 100,066 119,491
--------- ---------
Cash and cash equivalents at end of period $ 342,034 $ 142,176
========= =========
The financial information included herein has been prepared by
management without audit by independent public accountants.
The accompanying notes are an integral part of these statements.
5
<PAGE>
PARKER & PARSLEY 83-A, LTD.
(A Texas Limited Partnership)
NOTES TO FINANCIAL STATEMENTS
September 30, 1995
(Unaudited)
NOTE 1.
In the opinion of management, the unaudited financial statements as of September
30, 1995 of Parker & Parsley 83-A, Ltd. (the "Registrant") include all
adjustments and accruals consisting only of normal recurring accrual adjustments
which are necessary for a fair presentation of the results for the interim
period. However, the results of operations for the nine months ended September
30, 1995 are not necessarily indicative of the results for the full year ending
December 31, 1995.
The financial statements should be read in conjunction with the financial
statements and the notes thereto contained in the Registrant's Report on Form
10-K for the year ended December 31, 1994, as filed with the Securities and
Exchange Commission, a copy of which is available upon request by writing to
Steven L. Beal, Senior Vice President, 303 West Wall, Suite 101, Midland, Texas
79701.
NOTE 2.
On May 25, 1993, a final settlement agreement was negotiated, drafted and
finally executed, ending litigation which had begun on September 5, 1989, when
the Registrant filed suit along with other parties against Dresser Industries,
Inc.; Titan Services, Inc.; BJ-Titan Services Company; BJ-Hughes Holding
Company; Hughes Tool Company; Baker Hughes Production Tools, Inc.; and Baker
Hughes Incorporated alleging that the defendants had intentionally failed to
provide the materials and services ordered and paid for by the Registrant and
other parties in connection with the fracturing and acidizing of 523 wells, and
then fraudulently concealed the shorting practice from the managing general
partner, Parker & Parsley Development L.P. ("PPDLP") (see Item 2). The May 25,
1993 settlement agreement called for a payment of $115 million in cash by the
defendants. The managing general partner received the funds, deducted incurred
legal expenses, accrued interest, determined the general partner's portion of
the funds and calculated any inter-partnership allocations. A distribution of
$91,000,000 was made to the working interest owners, including the Registrant,
on July 30, 1993. The limited partners received their distribution of
$6,894,930, or $353.50 per limited partnership interest, in September 1993.
On May 3, 1993, Jack N. Price, the attorney who represented Gary G. "Zeke"
Lancaster in the Federal Court lawsuit, filed suit in State Court in Beaumont
against all of the plaintiff partnerships, including the Registrant and others,
alleging his entitlement to 12% of the settlement proceeds. Price's lawsuit
claim for approximately $13.8 million is predicated on a purported contract
entered into with Southmark Corporation in August 1988, in which he allegedly
binds the Registrant and the other defendants, as well as Southmark. On
September 20, 1995, the Beaumont trial judge entered a summary judgment against
Southmark for the $13,790,000
6
<PAGE>
contingent fee sought by Price, together with prejudgment interest, and also
awarded Price an additional $5,498,525 in attorneys' fees. Southmark intends to
vigorously pursue appeal of the judgment. The summary judgment did not give
Price any relief against the Registrant, and although PPDLP believes the lawsuit
is without merit and intends to vigorously defend it, PPDLP is holding in
reserve approximately 12.5% of the total settlement pending final resolution of
the litigation by the court. Trial against the Registrant is currently scheduled
for April 1996.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
The Registrant was formed July 1, 1983. The Registrant consisted of two general
partners at December 31, 1994, Parker & Parsley Development Company ("PPDC") and
P&P Employees 83-A, Ltd. ("EMPL"), a Texas limited partnership whose general
partner was PPDC and 1,354 limited partners. On January 1, 1995, PPDLP, a Texas
limited partnership, became the managing general partner of the Registrant and
EMPL, by acquiring the rights and assuming the obligations of PPDC. PPDC was
merged into PPDLP on January 1, 1995. PPDLP's co-general partner is EMPL. PPDLP
acquired PPDC's rights and obligations as managing general partner of the
Registrant in connection with the merger of PPDC, P&P Producing, Inc. and
Spraberry Development Corporation into MidPar LP., which survived the merger
with a change of name to PPDLP. The sole general partner of PPDLP is Parker &
Parsley Petroleum USA, Inc. PPDLP has the power and authority to manage, control
and administer all Registrant affairs. The limited partners contributed
$19,505,000 representing 19,505 interests ($1,000 per interest).
Since its formation, the Registrant invested $19,961,423 in various prospects
that were drilled in Texas. At September 30, 1995, the Registrant had 58
producing oil and gas wells; two wells were dry holes from previous periods; six
wells were sold, one in 1992 and five in 1995; and three wells were plugged and
abandoned due to unprofitable operations, two in 1990 and one in 1993. The
Registrant received interests in five additional wells in 1993 due to the
Registrant's back-in after payout provision.
RESULTS OF OPERATIONS
Nine months ended September 30, 1995 compared with nine months ended
September 30, 1994
REVENUES:
The Registrant's oil and gas revenues decreased to $1,085,474 from $1,085,921
for the nine months ended September 30, 1995 and 1994, respectively. The
decrease in revenues resulted from a 10% decrease in barrels of oil produced and
sold and a 3% decrease in mcf of gas produced and sold, offset by an increase in
the average prices received per barrel of oil and mcf of gas. For the nine
months ended September 30, 1995, 46,552 barrels of oil were sold compared to
51,682 for the same period in 1994, a decrease of 5,130 barrels. For the nine
months ended September 30, 1995, 164,421 mcf of gas were sold compared to
169,491 for the same period in 1994, a decrease of 5,070 mcf. The decrease in
production volumes was primarily due to the decline characteristics of the
Registrant's oil and gas properties. Because of these characteristics,
management expects a certain
7
<PAGE>
amount of decline in production to continue in the future until the Registrant's
economically recoverable reserves are fully depleted.
The average price received per barrel of oil increased $1.52, or 10%, from
$15.62 for the nine months ended September 30, 1994 to $17.14 for the same
period in 1995 while the average price received per mcf of gas increased 6% from
$1.64 for the nine months ended September 30, 1994 to $1.75 for the same period
in 1995. The market price for oil and gas has been extremely volatile in the
past decade, and management expects a certain amount of volatility to continue
in the foreseeable future. The Registrant may therefore sell its future oil and
gas production at average prices lower or higher than that received during the
nine months ended September 30, 1995.
A gain on sale of assets of $40,737 was recognized during the nine months ended
September 30, 1995 from the sale of five wells. The gain consisted of proceeds
received of $180,619 and proceeds receivable of $10,533 from the sale of two
wells, an additional proceeds receivable of $36,880 and a $3,695 receivable due
from the sale for post-closing adustments from the sale of three wells, offset
by the write-off of remaining capitalized well costs of $190,990.
COSTS AND EXPENSES:
Total costs and expenses decreased to $1,052,327 for the nine months ended
September 30, 1995 as compared to $1,055,333 for the same period in 1994, a
decrease of $3,006. This decrease was due to declines in production costs,
general and administrative expenses ("G&A") and abandoned property costs, offset
by an increase in depletion.
Production costs were $639,797 for the nine months ended September 30, 1995 and
$649,316 for the same period in 1994 resulting in a $9,519 decrease. The
decrease consisted of less well repair and maintenance and lower ad valorem
taxes.
G&A's components are independent accounting and engineering fees, computer
services, postage and managing general partner personnel costs. During this
period, G&A decreased, in aggregate, 5% from $37,288 for the nine months ended
September 30, 1994 to $35,516 for the same period in 1995.
Abandoned property costs were $4,110 for the nine months ended September 30,
1994. There were no expenses incurred for the same period in 1995.
Depletion was $377,014 for the nine months ended September 30, 1995 compared to
$364,619 for the same period in 1994. This represented an increase in depletion
of $12,395, or 3%. Depletion was computed quarterly on a property-by-property
basis utilizing the unit-of-production method based upon the dominant mineral
produced, generally. Oil production decreased 5,130 barrels for the nine months
ended September 30, 1995 from the same period in 1994. Depletion expense for the
nine months ended September 30, 1995 was calculated based on reserves computed
utilizing an oil price of $16.19 per barrel. Comparatively, depletion expense
for the three months ended September 30, 1994 and June 30, 1994 was calculated
based on reserves computed utilizing an oil price of $18.21 per barrel while
depletion expense for the three months ended March 31, 1994 was calculated based
on reserves computed utilizing an oil price of $12.71 per barrel.
8
<PAGE>
On May 25, 1993, a final settlement agreement was negotiated, drafted and
finally executed, ending litigation which had begun on September 5, 1989, when
the Registrant filed suit along with other parties against Dresser Industries,
Inc.; Titan Services, Inc.; BJ-Titan Services Company; BJ-Hughes Holding
Company; Hughes Tool Company; Baker Hughes Production Tools, Inc.; and Baker
Hughes Incorporated alleging that the defendants had intentionally failed to
provide the materials and services ordered and paid for by the Registrant and
other parties in connection with the fracturing and acidizing of 523 wells, and
then fraudulently concealed the shorting practice from PPDLP. The May 25, 1993
settlement agreement called for a payment of $115 million in cash by the
defendants. The managing general partner received the funds, deducted incurred
legal expenses, accrued interest, determined the general partner's portion of
the funds and calculated any inter- partnership allocations. A distribution of
$91,000,000 was made to the working interest owners, including the Registrant,
on July 30, 1993. The limited partners received their distribution of
$6,894,930, or $353.50 per limited partnership interest, in September 1993.
On May 3, 1993, Jack N. Price, the attorney who represented Gary G. "Zeke"
Lancaster in the Federal Court lawsuit, filed suit in State Court in Beaumont
against all of the plaintiff partnerships, including the Registrant and others,
alleging his entitlement to 12% of the settlement proceeds. Price's lawsuit
claim for approximately $13.8 million is predicated on a purported contract
entered into with Southmark Corporation in August 1988, in which he allegedly
binds the Registrant and the other defendants, as well as Southmark. On
September 20, 1995, the Beaumont trial judge entered a summary judgment against
Southmark for the $13,790,000 contingent fee sought by Price, together with
prejudgment interest, and also awarded Price an additional $5,498,525 in
attorneys' fees. Southmark intends to vigorously pursue appeal of the judgment.
The summary judgment did not give Price any relief against the Registrant, and
although PPDLP believes the lawsuit is without merit and intends to vigorously
defend it, PPDLP is holding in reserve approximately 12.5% of the total
settlement pending final resolution of the litigation by the court. Trial
against the Registrant is currently scheduled for April 1996.
Three months ended September 30, 1995 compared with three months ended
September 30, 1994
REVENUES:
The Registrant's oil and gas revenues decreased to $347,593 from $382,750 for
the three months ended September 30, 1995 and 1994 respectively, a decrease of
9%. The decrease in revenues resulted from a 7% decrease in barrels of oil
produced and sold, an 8% decrease in mcf of gas produced and sold and a decrease
in the average price received per barrel of oil, offset by an increase in the
average price received per mcf of gas. For the three months ended September 30,
1995, 15,805 barrels of oil were sold compared to 16,995 for the same period in
1994, a decrease of 1,190 barrels. For the three months ended September 30,
1995, 54,095 mcf of gas were sold compared to 58,750 for the same period in
1994, a decrease of 4,655 mcf. The decrease in oil and gas production was
primarily due to the decline characteristics of the Registrant's oil and gas
properties.
9
<PAGE>
The average price received per barrel of oil decreased $.67, or 4%, from $17.10
for the three months ended September 30, 1994 to $16.43 for the three months
ended September 30, 1995 while the average price received per mcf of gas
increased 4% from $1.57 for the three months ended September 30, 1994 to $1.63
for the same period in 1995.
A gain on sale of assets of $40,575 was recognized in 1995 resulting from
proceeds receivable of $36,880 and a $3,695 receivable due from the sale for
post-closing adjustments from the sale of three wells.
COSTS AND EXPENSES:
Total costs and expenses increased to $337,945 for the three months ended
September 30, 1995 as compared to $326,687 for the same period in 1994, a
decrease of $11,258, or 3%. This decrease was due to declines in production
costs and G&A, offset by an increase in depletion.
Production costs were $200,175 for the three months ended September 30, 1995 and
$206,279 for the same period in 1994 resulting in a $6,104 decrease. The
decrease was due to less well repair and maintenance expenses.
G&A's components are independent accounting and engineering fees, computer
services, postage and managing general partner personnel costs. During this
period, G&A decreased, in aggregate, 8% from $13,286 for the three months ended
September 30, 1994 to $12,231 for the same period in 1995.
Depletion was $125,539 for the three months ended September 30, 1995 compared to
$107,122 for the same period in 1994. This represented an increase in depletion
of $18,417, or 17%. Depletion was calculated quarterly on a property-by-property
basis utilizing the unit-of-production method based upon the dominant mineral
produced, generally oil. Oil production decreased 1,190 barrels for the three
months ended September 30, 1995 from the same period in 1994. Depletion expense
for the three months ended September 30, 1995 was calculated based on reserves
computed utilizing an oil price of $16.19 per barrel while depletion expense for
the three months ended September 30, 1994 was calculated based on reserves
computed utilizing an oil price of $18.21 per barrel.
LIQUIDITY AND CAPITAL RESOURCES
NET CASH PROVIDED BY OPERATING ACTIVITIES
Net cash provided by operating activities increased to $479,652 during the nine
months ended September 30, 1995, an 18% increase from the same period ended
September 30, 1994. This increase was due to an increase in oil and gas sales
and a decrease in production costs, G&A and abandoned property costs. The
increase in oil and gas sales was due to an increase in the average price
received per barrel of oil and mcf of gas, offset by a decline in barrels of oil
and mcf of gas produced and sold. The decline in production costs was due to
less well repair and maintenance costs. The decline in G&A was due to less
allocated expenses by the managing general partner. Abandoned property costs
declined as a result of no abandonment activity during the nine months ended
September 30, 1995 as compared to the same period in 1994.
10
<PAGE>
NET CASH PROVIDED BY INVESTING ACTIVITIES
The Registrant's investment activities during the nine months ended September
30, 1995 resulted in proceeds received of $180,619 from the sale of two oil and
gas wells and expenditures of $1,120 for additions to oil and gas properties.
NET CASH USED IN FINANCING ACTIVITIES
Cash was sufficient for the nine months ended September 30, 1995 to cover
distributions to the partners of $417,183 of which $308,935 was distributed to
the limited partners and $108,248 to the general partners. For the same period
ended September 30, 1994, cash was sufficient for distributions to the partners
of $384,417 of which $287,008 was distributed to the limited partners and
$97,409 to the general partners.
It is expected that future net cash provided by operating activities will be
sufficient for any capital expenditures and any distributions. As the production
from the properties declines, distributions are also expected to decrease.
ACCOUNTING STANDARD ON IMPAIRMENT OF LONG-LIVED ASSETS
In March 1995, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 121 - Accounting for Impairment of Long-lived
Assets and for Long-lived Assets to Be Disposed Of ("FAS 121") regarding the
impairment of long-lived assets, identifiable intangibles and goodwill related
to those assets. FAS 121 is effective for financial statements for fiscal years
beginning after December 15, 1995, although earlier adoption is encouraged. The
application of FAS 121 to oil and gas companies utilizing the successful efforts
method (such as the Registrant) will require periodic determination of whether
the book value of long-lived assets exceeds the future cash flows expected to
result from the use of such assets and, if so, will require reduction of the
carrying amount of the "impaired" assets to their estimated fair values. There
is currently a great deal of uncertainty as to how FAS 121 will apply to oil and
gas companies using the successful efforts method, including uncertainty
regarding the determination of expected future cash flows from the relevant
assets and, if an impairment is determined to exist, their estimated fair value.
There is also uncertainty regarding the level at which the test might be
applied. Given this uncertainty, the Registrant is currently unable to estimate
the effect that FAS 121 will have on the Registrant's results of operations for
the period in which it is adopted.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
On May 25, 1993, a final settlement agreement was negotiated, drafted and
finally executed, ending litigation which had begun on September 5, 1989, when
the Registrant filed suit along with other parties against Dresser Industries,
Inc.; Titan Services, Inc.; BJ-Titan Services Company; BJ-Hughes Holding
Company; Hughes Tool Company; Baker Hughes Production Tools, Inc.; and
11
<PAGE>
Baker Hughes Incorporated alleging that the defendants had intentionally failed
to provide the materials and services ordered and paid for by the Registrant
and other parties in connection with the fracturing and acidizing of 523
wells, and then fraudulently concealed the shorting practice from PPDLP.
The May 25, 1993 settlement agreement called for a payment of $115 million
in cash by the defendants. The managing general partner received the funds,
deducted incurred legal expenses, accrued interest, determined the general
partner's portion of the funds and calculated any inter-partnership allocations.
A distribution of $91,000,000 was made to the working interest owners, including
the Registrant, on July 30, 1993. The limited partners received their
distribution of $6,894,930, or $353.50 per limited partnership interest, in
September 1993.
On May 3, 1993, Jack N. Price, the attorney who represented Gary G. "Zeke"
Lancaster in the Federal Court lawsuit, filed suit in State Court in Beaumont
against all of the plaintiff partnerships, including the Registrant and others,
alleging his entitlement to 12% of the settlement proceeds. Price's lawsuit
claim for approximately $13.8 million is predicated on a purported contract
entered into with Southmark Corporation in August 1988, in which he allegedly
binds the Registrant and the other defendants, as well as Southmark. On
September 20, 1995, the Beaumont trial judge entered a summary judgment against
Southmark for the $13,790,000 contingent fee sought by Price, together with
prejudgment interest, and also awarded Price an additional $5,498,525 in
attorneys' fees. Southmark intends to vigorously pursue appeal of the judgment.
The summary judgment did not give Price any relief against the Registrant, and
although PPDLP believes the lawsuit is without merit and intends to vigorously
defend it, PPDLP is holding in reserve approximately 12.5% of the total
settlement pending final resolution of the litigation by the court. Trial
against the Registrant is currently scheduled for April 1996.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits - none
(b) Reports on Form 8-K - none
12
<PAGE>
PARKER & PARSLEY 83-A, LTD.
(A Texas Limited Partnership)
S I G N A T U R E S
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.
PARKER & PARSLEY 83-A, LTD.
By: Parker & Parsley Development L.P.,
Managing General Partner
By: Parker & Parsley Petroleum USA, Inc.
("PPUSA"), General Partner
Dated: November 9, 1995 By: /s/ Steven L. Beal
-------------------------------------
Steven L. Beal, Senior Vice President
and Chief Financial Officer of PPUSA
13
<PAGE>
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<CIK> 0000743456
<NAME> 83A4.TXT
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
<CASH> 342,034
<SECURITIES> 0
<RECEIVABLES> 185,176
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 527,210
<PP&E> 17,819,592
<DEPRECIATION> 13,255,427
<TOTAL-ASSETS> 5,091,375
<CURRENT-LIABILITIES> 91,376
<BONDS> 0
<COMMON> 0
0
0
<OTHER-SE> 4,999,999
<TOTAL-LIABILITY-AND-EQUITY> 5,091,375
<SALES> 1,085,474
<TOTAL-REVENUES> 1,136,046
<CGS> 0
<TOTAL-COSTS> 1,502,327
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 83,719
<INCOME-TAX> 0
<INCOME-CONTINUING> 83,719
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 83,719
<EPS-PRIMARY> (0.39)
<EPS-DILUTED> 0
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