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<PAGE>
AMENDMENT #1 TO FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1996
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 number 33-11773-01
SWIFT ENERGY INCOME PARTNERS 1987-B, LTD.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
Texas 76-0226425
(State or other jurisdiction of organization) (I.R.S. Employer Identification No.)
</TABLE>
16825 Northchase Drive, Suite 400
Houston, Texas 77060
(Address of principal executive offices)
(Zip Code)
(713)874-2700
(Registrant's telephone number, including area code)
None
(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>
SWIFT ENERGY INCOME PARTNERS 1987-B, LTD.
BALANCE SHEETS
<TABLE>
<CAPTION>
September 30, December 31,
1996 1995
--------------- ---------------
(Unaudited)
<S> <C> <C>
ASSETS:
Current Assets:
Cash and cash equivalents $ 3,222 $ 1,039
Oil and gas sales receivable 365,993 460,307
Other 7,886 --
--------------- ---------------
Total Current Assets 377,101 461,346
--------------- ---------------
Gas Imbalance Receivable -- 5,085
--------------- ---------------
Oil and Gas Properties, using full cost
accounting 24,727,166 25,068,651
Less-Accumulated depreciation, depletion
and amortization (20,237,798) (19,807,484)
--------------- ---------------
4,489,368 5,261,167
--------------- ---------------
$ 4,866,469 $ 5,727,598
=============== ===============
LIABILITIES AND PARTNERS' CAPITAL:
Current Liabilities:
Accounts payable and accrued liabilities $ 46,050 $ 832,159
Current portion of note payable -- 42,669
--------------- ---------------
Total Current Liabilities 46,050 874,828
--------------- ---------------
Deferred Revenues 219,142 248,292
Partners' Capital 4,601,277 4,604,478
--------------- ---------------
$ 4,866,469 $ 5,727,598
=============== ===============
</TABLE>
See accompanying notes to financia statements.
3
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
SWIFT ENERGY INCOME
PARTNERS 1987-B, LTD.
(Registrant)
By: SWIFT ENERGY COMPANY
Managing General Partner
Date: November 14, 1996 By: /s/ John R. Alden
----------------- --------------------------------
John R. Alden
Senior Vice President, Secretary
and Principal Financial Officer
Date: November 14, 1996 By: /s/ Alton D. Heckaman, Jr.
----------------- --------------------------------
Alton D. Heckaman, Jr.
Vice President, Controller
and Principal Accounting Officer
10
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