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. 2-90417
PARKER & PARSLEY 84-A, LTD.
(Exact name of Registrant as specified in its charter)
Texas 75-1974814
(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 84-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 $116,048 at September 30
and $68,292 at December 31 $ 116,298 $ 68,542
Accounts receivable - oil and gas sales 164,947 178,618
---------- ---------
Total current assets 281,245 247,160
Oil and gas properties - at cost, based on the
successful efforts accounting method 18,199,397 18,669,312
Accumulated depletion (12,552,035) (12,560,042)
---------- ----------
Net oil and gas properties 5,647,362 6,109,270
---------- ----------
$ 5,928,607 $ 6,356,430
========== ==========
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities:
Accounts payable - affiliate $ 84,245 $ 56,035
Partners' capital:
Limited partners (19,435 interests) 5,227,495 5,639,089
General partners 616,867 661,306
---------- ----------
5,844,362 6,300,395
---------- ----------
$ 5,928,607 $ 6,356,430
========== ==========
The financial information included as of September 30, 1995 has been
prepared by management without audit by independent public accountants.
The accompanying notes are an integral part of these statements.
2
<PAGE>
PARKER & PARSLEY 84-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 $ 384,146 $ 435,984 $1,221,112 $1,217,660
Interest income 2,413 1,520 6,069 3,167
Salvage income from equipment
disposal - - - 241
Gain on abandoned property 16,355 - 16,355 -
-------- -------- --------- ---------
Total revenues 402,914 437,504 1,243,536 1,221,068
Costs and expenses:
Production costs 225,682 220,140 715,425 736,694
General and administrative
expenses 13,786 20,313 40,446 41,505
Abandoned property costs 12,039 - 12,039 -
Depletion 150,858 121,031 463,974 392,594
------- -------- --------- ---------
Total costs and expenses 402,365 361,484 1,231,884 1,170,793
------- -------- --------- ---------
Net income $ 549 $ 76,020 $ 11,652 $ 50,275
======== ======== ========= =========
Allocation of net income (loss):
General partners $ 22,708 $ 37,787 $ 72,815 $ 72,665
======== ======== ========= =========
Limited partners $ (22,159) $ 38,233 $ (61,163) $ (22,390)
======== ======== ========= =========
Net income (loss) per limited
partnership interest $ (1.14) $ 1.97 $ (3.15) $ (1.15)
======== ======== ========= =========
Distributions per limited
partnership interest $ 5.35 $ 6.50 $ 18.03 $ 16.30
======== ======== ========= =========
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 tatements.
3
<PAGE>
PARKER & PARSLEY 84-A, LTD.
(A Texas Limited Partnership)
STATEMENTS OF PARTNERS' CAPITAL
(Unaudited)
General Limited
partners partners Total
Balance at January 1, 1994 $ 710,620 $6,120,544 $6,831,164
Distributions (106,634) (316,792) (423,426)
Net income (loss) 72,665 (22,390) 50,275
--------- --------- ---------
Balance at September 30, 1994 $ 676,651 $5,781,362 $6,458,013
========= ========= =========
Balance at January 1, 1995 $ 661,306 $5,639,089 $6,300,395
Distributions (117,254) (350,431) (467,685)
Net income (loss) 72,815 (61,163) 11,652
--------- --------- ---------
Balance at September 30, 1995 $ 616,867 $5,227,495 $5,844,362
========= ========= =========
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 84-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 $ 11,652 $ 50,275
Adjustments to reconcile net income to net
cash provided by operating activities:
Depletion 463,974 392,594
Gain on abandoned property (16,355) -
Salvage income from equipment disposal - (241)
Changes in assets and liabilities:
Decrease in accounts receivable 13,671 9,316
Increase in accounts payable 28,210 39,048
--------- ---------
Net cash provided by operating activities 501,152 490,992
Cash flows from investing activities:
(Additions) disposals to oil and gas properties (2,066) 10,968
Proceeds from equipment salvage on abandoned
property 16,355 -
Proceeds from salvage income on equipment
disposals - 241
--------- ---------
Net cash provided by investing activities 14,289 11,209
Cas flows from financing activities:
Cash distributions to partners (467,685) (423,426)
--------- ---------
Net increase in cash and cash equivalents 47,756 78,775
Cash and cash equivalents at beginning of period 68,542 31,681
--------- ---------
Cash and cash equivalents at end of period $ 116,298 $ 110,456
========= =========
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 84-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 84-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 of 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
$8,512,603, or $438.00 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
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<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 6, 1984. The general partners of the Registrant
at December 31, 1994 were Parker & Parsley Development Company ("PPDC") and P&P
Employees 84-A, Ltd. ("EMPL"), a Texas limited partnership whose general partner
is PPDC, and 1,319 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 $19,435,000
representing 19,435 interests ($1,000 per interest).
Since its formation, the Registrant invested $19,668,772 in various prospects
that were drilled in Texas. At September 30, 1995, 38 wells were producing and
four wells were plugged and abandoned; one in 1989, one in 1990, one in 1992 and
one in 1995 due to unprofitable operations. The Registrant received interests in
four 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 increased to $1,221,112 from $1,217,660
for the nine months ended September 30, 1995 and 1994, respectively. The
increase in revenues resulted from a 4% increase in mcf of gas produced and sold
and an increase in the average price received per barrel of oil, offset by an 8%
decrease in barrels of oil produced and sold and a decrease in the average price
received per mcf of gas. For the nine months ended September 30, 1995, 51,294
barrels were sold compared to 55,470 for the same period in 1994, a decrease of
4,176 barrels. For the nine months ended September 30, 1995, 207,332 mcf of gas
were sold compared to 198,740 for the same period in 1994, an increase of 8,592
mcf. The decrease in oil volumes was primarily due to the decline
characteristics of the Registrant's oil and gas properties while the increase in
gas volumes was due to operational changes on several wells. Management expects
7
<PAGE>
a certain amount of decline in production in the future until the Registrant's
economically recoverable reserves are fully depleted.
The average price received per barrel of oil increased $1.41, or 9%, from $15.87
for the nine months ended September 30, 1994 to $17.28 for the same period in
1995 while the average price received per mcf of gas decreased 5% from $1.70
during the nine months ended September 30, 1994 to $1.62 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 abandoned property of $16,355 was recognized during the nine months
ended September 30, 1995. This gain was the result of proceeds received from
equipment salvage on one fully depleted abandoned property. Salvage income from
equipment disposal during the same period ended September 30, 1994 consisted of
equipment credits received of $241 on one well abandoned in a prior year.
Abandoned property costs of $12,039 were incurred on one well abandoned during
the nine months ended September 30, 1995. There were no abandoned property costs
for the same period ended September 30, 1994.
COSTS AND EXPENSES:
Total costs and expenses increased to $1,231,884 for the nine months ended
September 30, 1995 as compared to $1,170,793 for the same period in 1994, an
increase of $61,091, or 5%. This increase was due to an increase in depletion
and abandoned property costs, offset by decreases in general and administrative
expenses ("G&A") and production costs.
Production costs were $715,425 for the nine months ended September 30, 1995 and
$736,694 for the same period in 1994 resulting in a $21,269 decrease, or 3%. The
decrease was primarily due to a decline in well repair and maintenance costs and
a decline in 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, 3% from $41,505 for the nine months ended
September 30, 1994 to $40,446 for the same period in 1995.
Depletion was $463,974 for the nine months ended September 30, 1995 compared to
$392,594 for the same period in 1994. This represented an increase in depletion
of $71,380, or 18%. Depletion was computed quarterly on a property-by-property
basis utilizing the unit-of-production method based upon the dominant mineral
produced, generally oil. Oil production decreased 4,176 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 $16.35 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 $18.27 per
barrel while depletion expense for the three months ended March 31, 1994 was
calculated based on reserves computed utilizing an oil price of $12.76 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 distribu tion of
$8,512,603, or $438.00 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 $384,146 from $435,984 for
the three months ended September 30, 1995 and 1994, respectively, a decrease of
12%. The decrease in revenues resulted from a 10% decline in barrels of oil
produced and sold and a decrease in the average price received per barrel of oil
and mcf of gas. For the three months ended September 30, 1995, 16,842 barrels of
oil were sold compared to 18,663 for the same period in 1994, a decrease of
1,821 barrels. For the three months ended September 30, 1995, 68,860 mcf of gas
were sold compared to 68,840 for the same period in 1994, an increase of 20 mcf.
The decrease in oil production volumes was primarily due to the decline
characteristics of the Registrant's oil and gas properties.
The average price received per barrel of oil decreased $.77, or 4%, from $17.34
for the three months ended September 30, 1994 compared to $16.57 for the same
period in 1995, while the
9
<PAGE>
average price received per mcf of gas decreased 7% from $1.63 during the three
months ended September 30, 1994 to $1.53 in 1995.
A gain on abandoned property of $16,355 was recognized during the three months
ended September 30, 1995. This gain was the result of proceeds received from
equipment salvage on one fully depleted abandoned property. Abandoned property
costs of $12,039 were incurred on one well abandoned during the three months
ended September 30, 1995. There was no abandonment activity for the same period
ended September 30, 1994.
COSTS AND EXPENSES:
Total costs and expenses increased to $402,365 for the three months ended
September 30, 1995 as compared to $361,484 for the same period in 1994, an
increase of $40,881, or 11%. This increase was due to increases in production
costs, abandoned property costs and depletion, offset by a decrease in G&A.
Production costs were $225,682 for the three months ended September 30, 1995 and
$220,140 for the same period in 1994, resulting in a $5,542 increase, or 3%. The
increase consisted of additional well repair and maintenance costs and an
increase in 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, 32% from $20,313 for the three months ended
September 30, 1994 to $13,786 for the same period in 1995.
Depletion was $150,858 for the three months ended September 30, 1995 compared to
$121,031 for the same period in 1994. This represented an increase in depletion
of $29,827, or 25%. 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 1,821 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 $16.35 per barrel. Comparatively, depletion
expense for the three months ended September 30, 1994 was calculated based on
reserves computed utilizing an oil price of $18.27 per barrel.
LIQUIDITY AND CAPITAL RESOURCES
NET CASH PROVIDED BY OPERATING ACTIVITIES
Net cash provided by operating activities increased to $501,152 during the nine
months ended September 30, 1995, a $10,160 increase from the same period ended
in 1994. This increase resulted from an increase in oil and gas sales and a
decrease in production costs, offset by an increase in abandoned property costs.
The increase in oil and gas sales was due to an increase in the mcf of gas
produced and sold and an increase in the average price received per barrel of
oil, offset by a decrease in the barrels of oil produced and sold and a decline
in the price received per mcf of gas. The decline in production costs was due to
less well repair and maintenance
10
<PAGE>
costs. The increase in abandoned property costs was due to the plugging and
abandonment of one previously productive well.
NET CASH PROVIDED BY INVESTING ACTIVITIES
The Registrant's investing activities during the nine months ended September 30,
1995 included $2,066 for expenditures related to repair and maintenance activity
performed on various oil and gas properties. The Registrant received $10,968
during the same period in 1994 from the disposal of oil and gas equipment on
active properties.
Proceeds of $16,355 were received from the salvage of equipment on one well
abandoned during the nine months ended September 30, 1995. During the same
period in 1994, proceeds from salvage income of $241 were received from the sale
of oil and gas equipment on properties abandoned in prior years.
NET CASH USED IN FINANCING ACTIVITIES
Cash was sufficient for the nine months ended September 30, 1995 to cover
distributions to the partners of $467,685 of which $350,431 was distributed to
the limited partners and $117,254 to the general partners. For the same period
ended September 30, 1994, cash was sufficient for distributions to the partners
of $423,426 of which $316,792 was distributed to the limited partners and
$106,634 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.
11
<PAGE>
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 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 distribu tion of
$8,512,603, or $438.00 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 84-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 84-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>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000757545
<NAME> 84A.TXT
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1995
<CASH> 116,298
<SECURITIES> 0
<RECEIVABLES> 164,947
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 281,245
<PP&E> 18,199,397
<DEPRECIATION> 12,552,035
<TOTAL-ASSETS> 5,928,607
<CURRENT-LIABILITIES> 84,245
<BONDS> 0
<COMMON> 0
0
0
<OTHER-SE> 5,844,362
<TOTAL-LIABILITY-AND-EQUITY> 5,928,607
<SALES> 1,221,112
<TOTAL-REVENUES> 1,243,536
<CGS> 0
<TOTAL-COSTS> 1,231,884
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 11,652
<INCOME-TAX> 0
<INCOME-CONTINUING> 11,652
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 11,652
<EPS-PRIMARY> (3.15)
<EPS-DILUTED> 0
</TABLE>
