Notes to Financial Statements. 7 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 88-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 $ 110,641 Accounts receivable -- oil and gas sales.................. 105,172 71,128 ----------- ----------- Total current assets.............................. 237,363 181,769 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 Accumulated depletion..................................... (6,045,396) (5,978,933) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 ----------- ----------- $ 1,315,288 $ 1,334,302 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilities: Accounts payable -- affiliate............................. $ 25,004 $ 17,477 Partners' capital: Managing general partner.................................. 12,871 13,137 Limited partners (8,954 interests)........................ 1,277,413 1,303,688 ----------- ----------- 1,290,284 1,316,825 ----------- ----------- $ 1,315,288 $ 1,334,302 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 88-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8891-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 194,248 $ 110,641 158,378 Accounts receivable -- oil and gas sales.................. 105,172 71,128 144,590 111,524 ----------- ----------- Total current assets.............................. 237,363 181,769 338,838 269,902 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 9,683,627 9,678,161 Accumulated depletion..................................... (6,045,3967,414,165) (5,978,9337,280,260) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 2,269,462 2,397,901 ----------- ----------- $ 1,315,288 2,608,300 $ 1,334,302 2,667,803 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 43,523 $ 17,477 14,062 Partners' capital: Managing general partner.................................. 12,871 13,137 25,691 26,581 Limited partners (8,954 11,620 interests)........................ 1,277,413 1,303,688 ....................... 2,539,086 2,627,160 ----------- ----------- 1,290,284 1,316,825 2,564,777 2,653,741 ----------- ----------- $ 1,315,288 2,608,300 $ 1,334,302 2,667,803 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8891-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $252,835 $257,804 $435,655 $525,141 Interest......................................... 2,128 2,841 3,882 5,713 Gain on disposition of assets.................... 1,096 -- 1,096 -- -------- -------- -------- -------- 256,059 260,645 440,633 530,854 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 123,097 141,346 245,642 270,636 General and administrative....................... 21,337 8,794 28,880 17,857 Depletion........................................ 45,404 72,826 133,905 138,813 -------- -------- -------- -------- 189,838 222,966 408,427 427,306 -------- -------- -------- -------- Net income......................................... $ 66,221 $ 37,679 $ 32,206 $103,548 ======== ======== ======== ======== Allocation of net income: Managing general partner......................... $ 662 $ 376 $ 322 $ 1,035 ======== ======== ======== ======== Limited partners................................. $ 65,559 $ 37,303 $ 31,884 $102,513 ======== ======== ======== ======== Net income per limited partnership interest........ $ 5.64 $ 3.21 $ 2.74 $ 8.82 ======== ======== ======== ======== Distribution per limited partnership interest...... $ 6.33 $ 10.82 $ 10.32 $ 25.51 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 91-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $26,581 $2,627,160 $2,653,741 Distributions............................................ (1,212) (119,958) (121,170) Net income............................................... 322 31,884 32,206 ------- ---------- ---------- Balance at June 30, 1999................................... $25,691 $2,539,086 $2,564,777 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 91-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8887-BA, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 298,865 $ 110,641 282,299 Accounts receivable -- oil and gas sales.................. 105,172 71,128 ----------- ----------- 245,370 162,293 ------------ ------------ Total current assets.............................. 237,363 181,769 ----------- ----------- 544,235 444,592 ------------ ------------ Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 20,155,692 20,141,411 Accumulated depletion..................................... ....................................... (6,045,39617,288,051) (5,978,93317,119,544) ----------- ----------- ------------ ------------ Net oil and gas properties........................ 1,077,925 1,152,533 ----------- ----------- 2,867,641 3,021,867 ------------ ------------ $ 1,315,288 3,411,876 $ 1,334,302 3,466,459 ============ ============ LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 63,405 $ 17,477 34,972 Partners' capital: Managing general partner.................................. 12,871 13,137 33,454 34,289 Limited partners (8,954 28,811 interests)........................ 1,277,413 1,303,688 ----------- ----------- 1,290,284 1,316,825 ----------- ----------- ....................... 3,315,017 3,397,198 ------------ ------------ 3,348,471 3,431,487 ------------ ------------ $ 1,315,288 3,411,876 $ 1,334,302 3,466,459 ============ ============ The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8887-BA, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $367,387 $366,885 $671,386 $789,531 Interest......................................... 3,341 5,034 6,290 10,568 Gain on disposition of assets.................... -- -- -- 765 -------- -------- -------- -------- 370,728 371,919 677,676 800,864 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 233,876 313,372 455,004 596,233 General and administrative....................... 11,018 10,996 20,141 23,676 Depletion........................................ 53,650 106,567 168,507 205,708 -------- -------- -------- -------- 298,544 430,935 643,652 825,617 -------- -------- -------- -------- Net income (loss).................................. $ 72,184 $(59,016) $ 34,024 $(24,753) ======== ======== ======== ======== Allocation of net income (loss): Managing general partner......................... $ 722 $ (590) $ 340 $ (248) ======== ======== ======== ======== Limited partners................................. $ 71,462 $(58,426) $ 33,684 $(24,505) ======== ======== ======== ======== Net income (loss) per limited partnership interest......................................... $ 2.48 $ (2.03) $ 1.17 $ (.85) ======== ======== ======== ======== Distributions per limited partnership interest..... $ 2.19 $ 4.19 $ 4.02 $ 13.05 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 87-A, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $34,289 $3,397,198 $3,431,487 Distributions............................................ (1,175) (115,865) (117,040) Net income............................................... 340 33,684 34,024 ------- ---------- ---------- Balance at June 30, 1999................................... $33,454 $3,315,017 $3,348,471 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 87-A, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, -------------------- 1999 1998 --------- -------- Cash flows from operating activities: Net income (loss)......................................... $ 34,024 $(24,753) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depletion.............................................. 168,507 205,708 Gain on disposition of assets.......................... -- (765) Changes in assets and liabilities: Accounts receivable.................................... (83,077) 98,608 Accounts payable....................................... 28,433 11,307 --------- -------- Net cash provided by operating activities......... 147,887 290,105 --------- -------- Cash flows from investing activities: Additions to oil and gas properties....................... (14,488) -- Proceeds from asset dispositions.......................... 207 9,491 --------- -------- Net cash provided by (used in) investing activities...................................... (14,281) 9,491 --------- -------- Cash flows used in financing activities: Cash distributions to partners............................ (117,040) (379,756) --------- -------- Net increase (decrease) in cash............................. 16,566 (80,160) Cash at beginning of period................................. 282,299 383,854 --------- -------- Cash at end of period....................................... $ 298,865 $303,694 ========= ======== 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 financial statements. 6 129 PARKER & PARSLEY 87-A, LTD. (A TEXAS LIMITED PARTNERSHIP) NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED) NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Parker & Parsley 87-A, Ltd. (the "Partnership") is a limited partnership organized in 1987 under the laws of the State of Texas. The Partnership engages primarily in oil and gas development and production in the Spraberry Trend area of West Texas and is not involved in any industry segment other than oil and gas.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8890-BB CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 96,775 $ 110,641 76,330 Accounts receivable -- oil and gas sales.................. 105,172 71,128 125,793 83,807 ----------- ----------- Total current assets.............................. 237,363 181,769 222,568 160,137 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 9,606,297 9,600,469 Accumulated depletion..................................... ....................................... (6,045,3967,794,127) (5,978,9337,703,198) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 1,812,170 1,897,271 ----------- ----------- $ 1,315,288 2,034,738 $ 1,334,302 2,057,408 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 35,235 $ 17,477 22,740 Partners' capital: Managing general partner.................................. 12,871 13,137 19,995 20,346 Limited partners (8,954 11,897 interests)........................ 1,277,413 1,303,688 ....................... 1,979,508 2,014,322 ----------- ----------- 1,290,284 1,316,825 1,999,503 2,034,668 ----------- ----------- $ 1,315,288 2,034,738 $ 1,334,302 2,057,408 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8890-BB CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED)) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $196,244 $203,398 $349,651 $410,441 Interest......................................... 960 1,558 1,899 3,475 Gain on disposition of assets.................... -- -- -- 123 -------- -------- -------- -------- 197,204 204,956 351,550 414,039 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 115,052 134,541 236,655 274,144 General and administrative....................... 6,427 6,706 12,245 13,701 Depletion........................................ 29,386 61,424 90,929 114,204 -------- -------- -------- -------- 150,865 202,671 339,829 402,049 -------- -------- -------- -------- Net income......................................... $ 46,339 $ 2,285 $ 11,721 $ 11,990 ======== ======== ======== ======== Allocation of net income: Managing general partner......................... $ 463 $ 23 $ 117 $ 120 ======== ======== ======== ======== Limited partners................................. $ 45,876 $ 2,262 $ 11,604 $ 11,870 ======== ======== ======== ======== Net income per limited partnership interest........ $ 3.86 $ .19 $ .98 $ 1.00 ======== ======== ======== ======== Distributions per limited partnership interest..... $ 1.80 $ 4.76 $ 3.90 $ 14.69 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 90-B CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $20,346 $2,014,322 $2,034,668 Distributions............................................ (468) (46,418) (46,886) Net income............................................... 117 11,604 11,721 ------- ---------- ---------- Balance at June 30, 1999................................... $19,995 $1,979,508 $1,999,503 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 90-B CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, ------------------- 1999 1998 -------- -------- Cash flows from operating activities: Net income................................................ $ 11,721 $ 11,990 Adjustments to reconcile net income to net cash provided by operating activities: Depletion.............................................. 90,929 114,204 Gain on disposition of assets.......................... -- (123) Changes in assets and liabilities: Accounts receivable.................................... (41,986) 31,700 Accounts payable....................................... 12,495 6,802 -------- -------- Net cash provided by operating activities......... 73,159 164,573 -------- -------- Cash flows from investing activities: Additions to oil and gas properties....................... (5,828) (7,888) Proceeds from asset dispositions.......................... -- 123 -------- -------- Net cash used in investing activities............. (5,828) (7,765) -------- -------- Cash flows used in financing activities: Cash distributions to partners............................ (46,886) (176,476) -------- -------- Net increase (decrease) in cash equivalents................. 20,445 (19,668) Cash at beginning of period................................. 76,330 118,712 -------- -------- Cash at end of period....................................... $ 96,775 $ 99,044 ======== ======== 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 financial statements. 6 129 PARKER & PARSLEY 90-B CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED) NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Parker & Parsley 90-B Conv., L.P. (the "Partnership") was organized as a general partnership in 1990 under the laws of the State of Texas and was converted to a Delaware limited partnership on August 1, 1991. The Partnership engages primarily in oil and gas development and production in Texas and is not involved in any industry segment other than oil and gas.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8890-BC CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 78,398 $ 110,641 66,221 Accounts receivable -- oil and gas sales.................. 105,172 71,128 61,696 41,400 ----------- ----------- Total current assets.............................. 237,363 181,769 140,094 107,621 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 5,773,448 5,765,217 Accumulated depletion..................................... ....................................... (6,045,3964,918,294) (5,978,9334,861,804) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 855,154 903,413 ----------- ----------- $ 1,315,288 995,248 $ 1,334,302 1,011,034 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 22,933 $ 17,477 13,398 Partners' capital: Managing general partner.................................. 12,871 13,137 9,693 9,946 Limited partners (8,954 7,531 interests)........................ 1,277,413 1,303,688 962,622 987,690 ----------- ----------- 1,290,284 1,316,825 972,315 997,636 ----------- ----------- $ 1,315,288 995,248 $ 1,334,302 1,011,034 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8890-BC CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $107,431 $108,532 $198,577 $228,491 Interest......................................... 784 1,150 1,482 2,434 -------- -------- -------- -------- 108,215 109,682 200,059 230,925 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 85,308 88,012 154,559 168,981 General and administrative....................... 3,635 3,608 7,085 7,593 Depletion........................................ 16,722 26,902 56,490 54,799 -------- -------- -------- -------- 105,665 118,522 218,134 231,373 -------- -------- -------- -------- Net income (loss).................................. $ 2,550 $ (8,840) $(18,075) $ (448) ======== ======== ======== ======== Allocation of net income (loss): Managing general partner......................... $ 25 $ (88) $ (181) $ (4) ======== ======== ======== ======== Limited partners................................. $ 2,525 $ (8,752) $(17,894) $ (444) ======== ======== ======== ======== Net income (loss) per limited partnership interest......................................... $ .33 $ (1.16) $ (2.38) $ (.06) ======== ======== ======== ======== Distributions per limited partnership interest..... $ -- $ 3.59 $ .95 $ 11.27 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 90-C CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- -------- -------- Balance at January 1, 1999.................................. $9,946 $987,690 $997,636 Distributions............................................. (72) (7,174) (7,246) Net loss.................................................. (181) (17,894) (18,075) ------ -------- -------- Balance at June 30, 1999.................................... $9,693 $962,622 $972,315 ====== ======== ======== 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 financial statements. 5 128 PARKER & PARSLEY 90-C CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, ------------------- 1999 1998 -------- -------- Cash flows from operating activities: Net loss.................................................. $(18,075) $ (448) Adjustments to reconcile net loss to net cash provided by operating activities: Depletion.............................................. 56,490 54,799 Changes in assets and liabilities: Accounts receivable.................................... (20,296) 24,039 Accounts payable....................................... 9,535 2,322 -------- -------- Net cash provided by operating activities......... 27,654 80,712 -------- -------- Cash flows from investing activities: Additions to oil and gas properties....................... (8,231) (6,919) Cash flows used in financing activities: Cash distributions to partners............................ (7,246) (85,723) -------- -------- Net increase (decrease) in cash............................. 12,177 (11,930) Cash at beginning of period................................. 66,221 87,423 -------- -------- Cash at end of period....................................... $ 78,398 $ 75,493 ======== ======== 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 financial statements. 6 129 PARKER & PARSLEY 90-C CONV., L.P. (A DELAWARE LIMITED PARTNERSHIP) NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED) NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Parker & Parsley 90-C Conv., L.P. (the "Partnership") was organized as a general partnership in 1990 under the laws of the State of Texas and was converted to a Delaware limited partnership on August 1, 1991. The Partnership engages primarily in oil and gas development and production in Texas and is not involved in any industry segment other than oil and gas.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8889-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 133,578 $ 110,641 117,381 Accounts receivable -- oil and gas sales.................. 105,172 71,128 96,213 65,380 ----------- ----------- Total current assets.............................. 237,363 181,769 229,791 182,761 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 6,546,663 6,540,053 Accumulated depletion..................................... (6,045,3965,406,303) (5,978,9335,330,375) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 1,140,360 1,209,678 ----------- ----------- $ 1,315,288 1,370,151 $ 1,334,302 1,392,439 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilities: Accounts payable -- affiliate............................. $ 25,004 27,656 $ 17,477 4,246 Partners' capital: Managing general partner.................................. 12,871 13,137 13,618 14,075 Limited partners (8,954 8,317 interests)........................ 1,277,413 1,303,688 1,328,877 1,374,118 ----------- ----------- 1,290,284 1,316,825 1,342,495 1,388,193 ----------- ----------- $ 1,315,288 1,370,151 $ 1,334,302 1,392,439 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8889-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $144,764 $156,809 $265,684 $321,759 Interest......................................... 1,463 1,909 2,688 4,175 Gain on disposition of assets.................... 1,166 -- 4,410 1,926 -------- -------- -------- -------- 147,393 158,718 272,782 327,860 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 88,188 84,248 187,238 180,873 General and administrative....................... 4,882 5,191 9,680 10,825 Depletion........................................ 20,943 45,311 75,928 87,380 -------- -------- -------- -------- 114,013 134,750 272,846 279,078 -------- -------- -------- -------- Net income (loss).................................. $ 33,380 $ 23,968 $ (64) $ 48,782 ======== ======== ======== ======== Allocation of net income (loss): Managing general partner......................... $ 333 $ 240 $ (1) $ 488 ======== ======== ======== ======== Limited partners................................. $ 33,047 $ 23,728 $ (63) $ 48,294 ======== ======== ======== ======== Net income (loss) per limited partnership interest......................................... $ 3.97 $ 2.86 $ (.01) $ 5.81 ======== ======== ======== ======== Distributions per limited partnership interest..... $ 2.77 $ 6.62 $ 5.43 $ 20.56 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 89-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $14,075 $1,374,118 $1,388,193 Distributions............................................ (456) (45,178) (45,634) Net loss................................................. (1) (63) (64) ------- ---------- ---------- Balance at June 30, 1999................................... $13,618 $1,328,877 $1,342,495 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 89-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8891-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 164,394 $ 110,641 165,231 Accounts receivable -- oil and gas sales.................. 105,172 71,128 168,967 97,159 ----------- ----------- Total current assets.............................. 237,363 181,769 333,361 262,390 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 9,739,820 9,728,987 Accumulated depletion..................................... ....................................... (6,045,3968,267,369) (5,978,9338,171,041) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 1,472,451 1,557,946 ----------- ----------- $ 1,315,288 1,805,812 $ 1,334,302 1,820,336 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 35,581 $ 17,477 18,255 Partners' capital: Managing general partner.................................. 12,871 13,137 14,669 14,988 Limited partners (8,954 11,249 interests)........................ 1,277,413 1,303,688 ....................... 1,755,562 1,787,093 ----------- ----------- 1,290,284 1,316,825 1,770,231 1,802,081 ----------- ----------- $ 1,315,288 1,805,812 $ 1,334,302 1,820,336 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8891-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $257,398 $217,358 $432,995 $472,291 Interest......................................... 2,096 2,796 3,859 5,661 Gain on disposition of assets -- -- 197 -------- -------- -------- -------- 259,494 220,154 436,854 478,149 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 107,455 116,127 220,490 236,766 General and administrative....................... 20,376 6,826 26,994 15,831 Depletion........................................ 30,011 51,338 96,328 104,926 -------- -------- -------- -------- 157,842 174,291 343,812 357,523 -------- -------- -------- -------- Net income......................................... $101,652 $ 45,863 $ 93,042 $120,626 ======== ======== ======== ======== Allocation of net income: Managing general partner......................... $ 1,016 $ 458 $ 930 $ 1,206 ======== ======== ======== ======== Limited partners................................. $100,636 $ 45,405 $ 92,112 $119,420 ======== ======== ======== ======== Net income per limited partnership interest........ $ 8.95 $ 4.04 $ 8.19 $ 10.62 ======== ======== ======== ======== Net distribution per limited partnership interest......................................... $ 7.04 $ 9.83 $ 10.99 $ 24.77 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 91-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999............................... $14,988 $1,787,093 $1,802,081 Distributions.......................................... (1,249) (123,643) (124,892) Net income............................................. 930 92,112 93,042 ------- ---------- ---------- Balance at June 30, 1999................................. $14,669 $1,755,562 $1,770,231 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 91-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS 6.EXHIBITS AND REPORTS ON FORM 8-K.................... ..................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8886-BC, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 138,310 $ 110,641 126,623 Accounts receivable -- oil and gas sales.................. 105,172 71,128 ----------- ----------- 142,220 112,233 ------------ ------------ Total current assets.............................. 237,363 181,769 ----------- ----------- 280,530 238,856 ------------ ------------ Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 14,568,207 14,568,090 Accumulated depletion..................................... ....................................... (6,045,39612,861,662) (5,978,93312,735,835) ----------- ----------- ------------ ------------ Net oil and gas properties........................ 1,077,925 1,152,533 ----------- ----------- 1,706,545 1,832,255 ------------ ------------ $ 1,315,288 1,987,075 $ 1,334,302 2,071,111 ============ ============ LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 41,234 $ 17,477 18,095 Partners' capital: Managing general partner.................................. 12,871 13,137 18,151 19,222 Limited partners (8,954 19,317 interests)........................ 1,277,413 1,303,688 ----------- ----------- 1,290,284 1,316,825 ----------- ----------- ....................... 1,927,690 2,033,794 ------------ ------------ 1,945,841 2,053,016 ------------ ------------ $ 1,315,288 1,987,075 $ 1,334,302 2,071,111 ============ ============ The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8886-BC, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas.................................... $244,884 $262,816 $435,922 $532,019 Interest....................................... 1,645 2,249 3,075 5,044 Gain on disposition of assets.................. -- 285 -- 356 -------- -------- -------- -------- 246,529 265,350 438,997 537,419 -------- -------- -------- -------- Costs and expenses: Oil and gas production......................... 162,895 195,142 344,743 383,272 General and administrative..................... 7,347 7,885 13,078 15,961 Depletion...................................... 35,027 66,558 125,827 128,628 Abandoned property............................. -- 115 -- 650 -------- -------- -------- -------- 205,269 269,700 483,648 528,511 -------- -------- -------- -------- Net income (loss)................................ $ 41,260 $ (4,350) $(44,651) $ 8,908 ======== ======== ======== ======== Allocation of net income (loss): Managing general partner....................... $ 413 $ (44) $ (446) $ 89 ======== ======== ======== ======== Limited partners............................... $ 40,847 $ (4,306) $(44,205) $ 8,819 ======== ======== ======== ======== Net income (loss) per limited partnership interest....................................... $ 2.11 $ (.22) $ (2.29) $ .46 ======== ======== ======== ======== Distributions per limited partnership interest... $ 2.38 $ 3.45 $ 3.20 $ 11.53 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 86-C, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $19,222 $2,033,794 $2,053,016 Distributions............................................ (625) (61,899) (62,524) Net loss................................................. (446) (44,205) (44,651) ------- ---------- ---------- Balance at June 30, 1999................................... $18,151 $1,927,690 $1,945,841 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 86-C, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8885-B, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 43,539 $ 110,641 47,370 Accounts receivable -- oil and gas sales.................. 105,172 71,128 59,173 38,501 ----------- ----------- Total current assets.............................. 237,363 181,769 102,712 85,871 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 5,314,799 5,312,024 Accumulated depletion..................................... ....................................... (6,045,3964,333,333) (5,978,9334,275,826) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 981,466 1,036,198 ----------- ----------- $ 1,315,288 1,084,178 $ 1,334,302 1,122,069 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 15,414 $ 17,477 10,661 Partners' capital: Managing general partner.................................. 12,871 13,137 11,039 11,465 Limited partners (8,954 7,988 interests)........................ 1,277,413 1,303,688 1,057,725 1,099,943 ----------- ----------- 1,290,284 1,316,825 1,068,764 1,111,408 ----------- ----------- $ 1,315,288 1,084,178 $ 1,334,302 1,122,069 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8885-B, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $85,896 $86,581 $144,877 $186,404 Interest......................................... 708 1,162 1,230 2,578 ------- ------- -------- -------- 86,604 87,743 146,107 188,982 ------- ------- -------- -------- Costs and expenses: Oil and gas production........................... 51,665 65,171 101,350 124,962 General and administrative....................... 2,578 2,597 4,347 5,592 Depletion........................................ 17,864 29,229 57,507 55,567 ------- ------- -------- -------- 72,107 96,997 163,204 186,121 ------- ------- -------- -------- Net income (loss).................................. $14,497 $(9,254) $(17,097) $ 2,861 ======= ======= ======== ======== Allocation of net income (loss): Managing general partner......................... $ 145 $ (93) $ (171) $ 28 ======= ======= ======== ======== Limited partners................................. $14,352 $(9,161) $(16,926) $ 2,833 ======= ======= ======== ======== Net income (loss) per limited partnership interest......................................... $ 1.80 $ (1.15) $ (2.12) $ .35 ======= ======= ======== ======== Distributions per limited partnership interest..... $ 3.17 $ 5.10 $ 3.17 $ 14.90 ======= ======= ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 85-B, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $11,465 $1,099,943 $1,111,408 Distributions............................................ (255) (25,292) (25,547) Net loss................................................. (171) (16,926) (17,097) ------- ---------- ---------- Balance at June 30, 1999................................... $11,039 $1,057,725 $1,068,764 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 85-B, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8890-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 267,265 $ 110,641 211,469 Accounts receivable -- oil and gas sales.................. 105,172 71,128 ----------- ----------- 341,362 227,293 ------------ ------------ Total current assets.............................. 237,363 181,769 ----------- ----------- 608,627 438,762 ------------ ------------ Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 26,051,746 26,035,940 Accumulated depletion..................................... (6,045,39621,136,203) (5,978,93320,889,657) ----------- ----------- ------------ ------------ Net oil and gas properties........................ 1,077,925 1,152,533 ----------- ----------- 4,915,543 5,146,283 ------------ ------------ $ 1,315,288 5,524,170 $ 1,334,302 5,585,045 ============ ============ LIABILITIES AND PARTNERS' CAPITAL Current Liabilities: Accounts payable -- affiliate............................. $ 25,004 95,730 $ 17,477 61,975 Partners' capital: Managing general partner.................................. 12,871 13,137 54,288 55,234 Limited partners (8,954 32,264 interests)........................ 1,277,413 1,303,688 ----------- ----------- 1,290,284 1,316,825 ----------- ----------- ....................... 5,374,152 5,467,836 ------------ ------------ 5,428,440 5,523,070 ------------ ------------ $ 1,315,288 5,524,170 $ 1,334,302 5,585,045 ============ ============ The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8890-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED)) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- --------------------- 1999 1998 1999 1998 -------- -------- -------- ---------- Revenues: Oil and gas.................................... $532,235 $551,596 $948,264 $1,113,100 Interest....................................... 2,647 4,282 5,232 9,531 Gain on disposition of assets.................. -- -- -- 333 -------- -------- -------- ---------- 534,882 555,878 953,496 1,122,964 -------- -------- -------- ---------- Costs and expenses: Oil and gas production......................... 311,851 364,847 641,619 743,438 General and administrative..................... 17,030 18,185 32,807 36,846 Depletion...................................... 79,706 166,765 246,546 309,796 -------- -------- -------- ---------- 408,587 549,797 920,972 1,090,080 -------- -------- -------- ---------- Net income....................................... $126,295 $ 6,081 $ 32,524 $ 32,884 ======== ======== ======== ========== Allocation of net income: Managing general partner....................... $ 1,263 $ 61 $ 325 $ 329 ======== ======== ======== ========== Limited partners............................... $125,032 $ 6,020 $ 32,199 $ 32,555 ======== ======== ======== ========== Net income per limited partnership interest...... $ 3.88 $ .19 $ 1.00 $ 1.01 ======== ======== ======== ========== Distributions per limited partnership interest.................................... $ 1.80 $ 4.76 $ 3.90 $ 14.69 ======== ======== ======== ========== 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 financial statements. 4 127 PARKER & PARSLEY 90-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $55,234 $5,467,836 $5,523,070 Distributions............................................ (1,271) (125,883) (127,154) Net income............................................... 325 32,199 32,524 ------- ---------- ---------- Balance at June 30, 1999................................... $54,288 $5,374,152 $5,428,440 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 90-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, --------------------- 1999 1998 --------- --------- Cash flows from operating activities: Net income................................................ $ 32,524 $ 32,884 Adjustments to reconcile net income to net cash provided by operating activities: Depletion.............................................. 246,546 309,796 Gain on disposition of assets.......................... -- (333) Changes in assets and liabilities: Accounts receivable.................................... (114,069) 85,944 Accounts payable....................................... 33,755 18,314 --------- --------- Net cash provided by operating activities......... 198,756 446,605 --------- --------- Cash flows from investing activities: Additions to oil and gas properties....................... (15,806) (21,390) Proceeds from asset dispositions.......................... -- 333 --------- --------- Net cash used in investing activities............. (15,806) (21,057) --------- --------- Cash flows used in financing activities: Cash distributions to partners............................ (127,154) (478,621) --------- --------- Net increase (decrease) in cash............................. 55,796 (53,073) Cash at beginning of period................................. 211,469 326,401 --------- --------- Cash at end of period....................................... $ 267,265 $ 273,328 ========= ========= 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 financial statements. 6 129 PARKER & PARSLEY 90-B, L.P. (A DELAWARE LIMITED PARTNERSHIP) NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED) NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Parker & Parsley 90-B, L.P. (the "Partnership") is a limited partnership organized in 1990 under the laws of the State of Delaware. The Partnership engages primarily in oil and gas development and production in Texas and is not involved in any industry segment other than oil and gas.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8890-BC, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 117,575 $ 110,641 99,482 Accounts receivable -- oil and gas sales.................. 105,172 71,128 98,852 66,369 ----------- ----------- Total current assets.............................. 237,363 181,769 216,427 165,851 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 9,281,520 9,268,288 Accumulated depletion..................................... ....................................... (6,045,3967,907,802) (5,978,9337,817,025) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 1,373,718 1,451,263 ----------- ----------- $ 1,315,288 1,590,145 $ 1,334,302 1,617,114 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 36,928 $ 17,477 23,084 Partners' capital: Managing general partner.................................. 12,871 13,137 15,482 15,890 Limited partners (8,954 12,107 interests)........................ 1,277,413 1,303,688 ....................... 1,537,735 1,578,140 ----------- ----------- 1,290,284 1,316,825 1,553,217 1,594,030 ----------- ----------- $ 1,315,288 1,590,145 $ 1,334,302 1,617,114 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8890-BC, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, -------------------- -------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas................................... $172,712 $174,479 $319,242 $367,337 Interest...................................... 1,178 1,756 2,241 3,744 -------- -------- -------- -------- 173,890 176,235 321,483 371,081 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................ 137,477 141,492 248,624 271,671 General and administrative.................... 5,701 5,738 11,247 12,145 Depletion..................................... 26,863 43,222 90,777 88,083 -------- -------- -------- -------- 170,041 190,452 350,648 371,899 -------- -------- -------- -------- Net income (loss)............................. $ 3,849 $(14,217) $(29,165) $ (818) ======== ======== ======== ======== Allocation of net income (loss): Managing general partner...................... $ 38 $ (142) $ (292) $ (8) ======== ======== ======== ======== Limited partners.............................. $ 3,811 $(14,075) $(28,873) $ (810) ======== ======== ======== ======== Net income (loss) per limited partnership interest................................... $ .32 $ (1.17) $ (2.38) $ (.07) ======== ======== ======== ======== Distributions per limited partnership interest................................... $ -- $ 3.59 $ .95 $ 11.27 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 90-C, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $15,890 $1,578,140 $1,594,030 Distributions............................................ (116) (11,532) (11,648) Net loss................................................. (292) (28,873) (29,165) ------- ---------- ---------- Balance at June 30, 1999................................... $15,482 $1,537,735 $1,553,217 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 90-C, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, -------------------- 1999 1998 -------- --------- Cash flows from operating activities: Net loss.................................................. $(29,165) $ (818) Adjustments to reconcile net loss to net cash provided by operating activities: Depletion.............................................. 90,777 88,083 Changes in assets and liabilities: Accounts receivable.................................... (32,483) 38,650 Accounts payable....................................... 13,844 3,733 -------- --------- Net cash provided by operating activities......... 42,973 129,648 -------- --------- Cash flows from investing activities: Additions to oil and gas properties....................... (13,232) (11,124) Cash flows used in financing activities: Cash distributions to partners............................ (11,648) (137,809) -------- --------- Net increase (decrease) in cash............................. 18,093 (19,285) Cash at beginning of period................................. 99,482 133,831 -------- --------- Cash at end of period....................................... $117,575 $ 114,546 ======== ========= 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 financial statements. 6 129 PARKER & PARSLEY 90-C, L.P. (A DELAWARE LIMITED PARTNERSHIP) NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED) NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Parker & Parsley 90-C, L.P. (the "Partnership") is a limited partnership organized in 1990 under the laws of the State of Delaware. The Partnership engages primarily in oil and gas development and production in Texas and is not involved in any industry segment other than oil and gas.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. ................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Reporting Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8890-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 108,664 $ 110,641 92,210 Accounts receivable -- oil and gas sales.................. 105,172 71,128 67,453 50,121 ----------- ----------- Total current assets.............................. 237,363 181,769 176,117 142,331 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 5,070,780 5,076,345 Accumulated depletion..................................... ....................................... (6,045,3963,898,611) (5,978,9333,832,899) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 1,172,169 1,243,446 ----------- ----------- $ 1,315,288 1,348,286 $ 1,334,302 1,385,777 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 17,726 $ 17,477 13,101 Partners' capital: Managing general partner.................................. 12,871 13,137 13,387 13,808 Limited partners (8,954 6,811 interests)........................ 1,277,413 1,303,688 1,317,173 1,358,868 ----------- ----------- 1,290,284 1,316,825 1,330,560 1,372,676 ----------- ----------- $ 1,315,288 1,348,286 $ 1,334,302 1,385,777 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8890-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $111,127 $113,383 $195,089 $240,589 Interest......................................... 1,063 1,500 1,956 3,199 -------- -------- -------- -------- 112,190 114,883 197,045 243,788 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 71,921 75,490 132,744 148,593 General and administrative....................... 3,806 7,201 7,264 11,447 Depletion........................................ 21,066 34,815 65,712 67,710 -------- -------- -------- -------- 96,793 117,506 205,720 227,750 -------- -------- -------- -------- Net income (loss).................................. $ 15,397 $ (2,623) $ (8,675) $ 16,038 ======== ======== ======== ======== Allocation of net income (loss): Managing general partner......................... $ 154 $ (26) $ (87) $ 160 ======== ======== ======== ======== Limited partners................................. $ 15,243 $ (2,597) $ (8,588) $ 15,878 ======== ======== ======== ======== Net income (loss) per limited partnership interest......................................... $ 2.24 $ (.38) $ (1.26) $ 2.33 ======== ======== ======== ======== Distributions per limited partnership interest..... $ 1.68 $ 6.05 $ 4.86 $ 18.98 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 90-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $13,808 $1,358,868 $1,372,676 Distributions............................................ (334) (33,107) (33,441) Net loss................................................. (87) (8,588) (8,675) ------- ---------- ---------- Balance at June 30, 1999................................... $13,387 $1,317,173 $1,330,560 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 90-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY PRODUCING PROPERTIES 88-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 291,041 $ 110,641 278,229 Accounts receivable -- oil and gas sales.................. 105,172 71,128 61,784 49,455 ----------- ----------- Total current assets.............................. 237,363 181,769 352,825 327,684 ----------- ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 4,842,700 4,842,700 Accumulated depletion..................................... (6,045,3963,335,476) (5,978,9333,285,467) ----------- ----------- Net oil and gas properties........................ 1,077,925 1,152,533 1,507,224 1,557,233 ----------- ----------- $ 1,315,288 1,860,049 $ 1,334,302 1,884,917 =========== =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilities: Accounts payable -- affiliate............................. $ 25,004 19,304 $ 17,477 6,661 Partners' capital: Managing general partner.................................. 12,871 13,137 18,329 18,638 Limited partners (8,954 11,222 interests)........................ 1,277,413 1,303,688 ....................... 1,822,416 1,859,618 ----------- ----------- 1,290,284 1,316,825 1,840,745 1,878,256 ----------- ----------- $ 1,315,288 1,860,049 $ 1,334,302 1,884,917 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY PRODUCING PROPERTIES 88-BA, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas.................................... $111,050 $117,387 $194,872 $246,176 Interest....................................... 2,763 3,791 5,175 7,419 -------- -------- -------- -------- 113,813 121,178 200,047 253,595 -------- -------- -------- -------- Costs and expenses: Oil and gas production......................... 62,301 61,343 122,130 130,525 General and administrative..................... 3,331 3,521 5,846 7,385 Depletion...................................... 20,466 31,162 50,009 63,909 -------- -------- -------- -------- 86,098 96,026 177,985 201,819 -------- -------- -------- -------- Net income....................................... $ 27,715 $ 25,152 $ 22,062 $ 51,776 ======== ======== ======== ======== Allocation of net income: Managing general partner....................... $ 278 $ 251 $ 221 $ 517 ======== ======== ======== ======== Limited partners............................... $ 27,437 $ 24,901 $ 21,841 $ 51,259 ======== ======== ======== ======== Net income per limited partnership interest...... $ 2.45 $ 2.22 $ 1.95 $ 4.57 ======== ======== ======== ======== Distributions per limited partnership interest... $ 2.01 $ 7.73 $ 5.26 $ 16.72 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY PRODUCING PROPERTIES 88-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $18,638 $1,859,618 $1,878,256 Distributions............................................ (530) (59,043) (59,573) Net income............................................... 221 21,841 22,062 ------- ---------- ---------- Balance at June 30, 1999................................... $18,329 $1,822,416 $1,840,745 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY PRODUCING PROPERTIES 88-A, L.P. (A DELAWARE LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS 6.EXHIBITS AND REPORTS ON FORM 8-K.................... ..................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8887-B, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 250,978 $ 110,641 221,422 Accounts receivable -- oil and gas sales.................. 105,172 71,128 ----------- ----------- 160,987 116,033 ------------ ------------ Total current assets.............................. 237,363 181,769 ----------- ----------- 411,965 337,455 ------------ ------------ Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 13,378,453 13,370,742 Accumulated depletion..................................... ....................................... (6,045,39610,850,497) (5,978,93310,723,851) ----------- ----------- ------------ ------------ Net oil and gas properties........................ 1,077,925 1,152,533 ----------- ----------- 2,527,956 2,646,891 ------------ ------------ $ 1,315,288 2,939,921 $ 1,334,302 2,984,346 LIABILITIES AND PARTNERS' CAPITAL Current liabilities: Accounts payable -- affiliate............................. $ 39,835 $ 21,253 Partners' capital: Managing general partner.................................. 28,929 29,559 Limited partners (20,089 interests)....................... 2,871,157 2,933,534 ------------ ------------ 2,900,086 2,963,093 ------------ ------------ $ 2,939,921 $ 2,984,346 ============ =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilities: Accounts payable -- affiliate............................. $ 25,004 $ 17,477 Partners' capital: Managing general partner.................................. 12,871 13,137 Limited partners (8,954 interests)........................ 1,277,413 1,303,688 ----------- ----------- 1,290,284 1,316,825 ----------- ----------- $ 1,315,288 $ 1,334,302 =========== =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8887-B, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas...................................... $267,074 $235,929 $458,623 $511,361 Interest......................................... 2,625 3,673 4,899 7,433 Gain on disposition of assets.................... -- 235 -- 13,728 -------- -------- -------- -------- 269,699 239,837 463,522 532,522 -------- -------- -------- -------- Costs and expenses: Oil and gas production........................... 158,350 154,727 302,253 315,652 General and administrative....................... 8,012 7,078 13,759 15,341 Depletion........................................ 49,069 81,439 126,646 159,264 Abandoned property............................... -- 95 -- 3,943 -------- -------- -------- -------- 215,431 243,339 442,658 494,200 -------- -------- -------- -------- Net income (loss).................................. $ 54,268 $ (3,502) $ 20,864 $ 38,322 ======== ======== ======== ======== Allocation of net income (loss): Managing general partner......................... $ 543 $ (35) $ 209 $ 383 ======== ======== ======== ======== Limited partners................................. $ 53,725 $ (3,467) $ 20,655 $ 37,939 ======== ======== ======== ======== Net income (loss) per limited partnership interest......................................... $ 2.68 $ (.17) $ 1.03 $ 1.89 ======== ======== ======== ======== Distributions per limited partnership interest..... $ 2.28 $ 4.64 $ 4.13 $ 12.44 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 87-B, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $29,559 $2,933,534 $2,963,093 Distributions............................................ (839) (83,032) (83,871) Net income............................................... 209 20,655 20,864 ------- ---------- ---------- Balance at June 30, 1999................................... $28,929 $2,871,157 $2,900,086 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 87-B, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED)
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
Notes to Financial Statements. 7 ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.................. 8 PART II. OTHER INFORMATION ITEM 6. EXHIBITS 6.EXHIBITS AND REPORTS ON FORM 8-K.................... ..................... 11 27.1 Financial Data Schedule Signatures............................................. 12 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS PARKER & PARSLEY 8886-B, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) BALANCE SHEETS ASSETS JUNE 30, DECEMBER 31, 1999 1998 ----------- ------------ ------------ (UNAUDITED) Current assets: Cash...................................................... $ 132,191 177,370 $ 110,641 185,320 Accounts receivable -- oil and gas sales.................. 105,172 71,128 ----------- 145,950 120,424 ------------ ----------- Total current assets.............................. 237,363 181,769 ----------- 323,320 305,744 ------------ ----------- Oil and gas properties -- at cost, based on the successful efforts accounting method.............................. 7,123,321 7,131,466 ................................. 12,039,945 12,038,382 Accumulated depletion..................................... ....................................... (6,045,39610,090,266) (5,978,9339,980,171) ----------- ------------ ----------- Net oil and gas properties........................ 1,077,925 1,152,533 ----------- 1,949,679 2,058,211 ------------ ----------- $ 1,315,288 2,272,999 $ 1,334,302 2,363,955 ============ =========== LIABILITIES AND PARTNERS' CAPITAL Current Liabilitiesliabilities: Accounts payable -- affiliate............................. $ 25,004 38,442 $ 17,477 11,216 Partners' capital: Managing general partner.................................. 12,871 13,137 21,070 22,251 Limited partners (8,954 17,208 interests)........................ 1,277,413 1,303,688 ....................... 2,213,487 2,330,488 ------------ ----------- ----------- 1,290,284 1,316,825 ----------- 2,234,557 2,352,739 ------------ ----------- $ 1,315,288 2,272,999 $ 1,334,302 2,363,955 ============ =========== The financial information included as of June 30, 1999 has been prepared by management without audit by independent public accountants. The accompanying notes are an integral part of these financial statements. 3 126 PARKER & PARSLEY 8886-B, L.P. LTD. (A DELAWARE TEXAS LIMITED PARTNERSHIP) STATEMENTS OF OPERATIONS (UNAUDITED) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- Revenues: Oil and gas.................................... $231,875 $239,503 $407,249 $497,072 Interest....................................... 2,338 3,206 4,305 6,774 Gain on disposition of assets.................. -- 4,779 -- 5,435 -------- -------- -------- -------- 234,213 247,488 411,554 509,281 -------- -------- -------- -------- Costs and expenses: Oil and gas production......................... 144,074 172,207 293,691 339,770 General and administrative..................... 6,956 7,185 12,217 14,912 Depletion...................................... 36,312 79,516 110,095 147,760 Abandoned property............................. -- 10,743 -- 20,389 -------- -------- -------- -------- 187,342 269,651 416,003 522,831 -------- -------- -------- -------- Net income (loss)................................ $ 46,871 $(22,163) $ (4,449) $(13,550) ======== ======== ======== ======== Allocation of net income (loss): Managing general partner....................... $ 469 $ (222) $ (44) $ (136) ======== ======== ======== ======== Limited partners............................... $ 46,402 $(21,941) $ (4,405) $(13,414) ======== ======== ======== ======== Net income (loss) per limited partnership interest....................................... $ 2.69 $ (1.28) $ (.26) $ (.78) ======== ======== ======== ======== Distributions per limited partnership interest... $ 5.01 $ 3.82 $ 6.54 $ 12.26 ======== ======== ======== ======== 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 financial statements. 4 127 PARKER & PARSLEY 86-B, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENT OF PARTNERS' CAPITAL (UNAUDITED) MANAGING GENERAL LIMITED PARTNER PARTNERS TOTAL -------- ---------- ---------- Balance at January 1, 1999................................. $22,251 $2,330,488 $2,352,739 Distributions............................................ (1,137) (112,596) (113,733) Net loss................................................. (44) (4,405) (4,449) ------- ---------- ---------- Balance at June 30, 1999................................... $21,070 $2,213,487 $2,234,557 ======= ========== ========== 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 financial statements. 5 128 PARKER & PARSLEY 86-B, LTD. (A TEXAS LIMITED PARTNERSHIP) STATEMENTS OF CASH FLOWS (UNAUDITED) SIX MONTHS ENDED JUNE 30, --------------------- 1999 1998 --------- --------- Cash flows from operating activities: Net loss.................................................. $ (4,449) $ (13,550) Adjustments to reconcile net loss to net cash provided by operating activities: Depletion.............................................. 110,095 147,760 Gain on disposition of assets.......................... -- (5,435) Changes in assets and liabilities: Accounts receivable.................................... (25,526) 40,163 Accounts payable....................................... 27,226 (5,429) --------- --------- Net cash provided by operating activities......... 107,346 163,509 --------- --------- Cash flows from investing activities: Additions to oil and gas properties....................... (2,172) (3,555) Proceeds from asset dispositions.......................... 609 5,435 --------- --------- Net cash provided by (used in) investing activities...................................... (1,563) 1,880 --------- --------- Cash flows used in financing activities: Cash distributions to partners............................ (113,733) (213,020) --------- --------- Net decrease in cash........................................ (7,950) (47,631) Cash at beginning of period................................. 185,320 259,795 --------- --------- Cash at end of period....................................... $ 177,370 $ 212,164 ========= ========= 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 financial statements. 6 129 PARKER & PARSLEY 86-B, LTD. (A TEXAS LIMITED PARTNERSHIP) NOTES TO FINANCIAL STATEMENTS JUNE 30, 1999 (UNAUDITED) NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS Parker & Parsley 86-B, Ltd. (the "Partnership") is a limited partnership organized in 1986 under the laws of the State of Texas. The Partnership engages primarily in oil and gas development and production in Texas and is not involved in any industry segment other than oil and gas.
Appears in 1 contract
Samples: Agreement and Plan of Merger (Pioneer Natural Resources Usa Inc)
