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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549



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                                   FORM 10-Q

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             QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                     THE SECURITIES EXCHANGE ACT OF 1934


              FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2001


                      COMMISSION FILE NUMBER 333-93399



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                         REEF GLOBAL ENERGY VENTURES
           (Exact name of registrant as specified in its charter)



                      NEVADA                            TO BE APPLIED FOR
        (State or other jurisdiction of                 (I.R.S. employer
         incorporation or organization)                identification no.)



     1901 N. CENTRAL EXPRESSWAY, SUITE 300
           RICHARDSON, TEXAS 75080                       (972) 437-6792
    (Address of principal executive offices,     (Registrant's telephone number,
              including zip code)                      including area code)




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     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 ___



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                        PART I - FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS.

         There are no financial statements of the registrant because the
registrant is a series of up to ten limited partnerships to be formed.  As of
the date of this filing, none of the partnerships has been formed.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS.

         The registrant is a series of up to ten limited partnerships
(collectively, the "Partnerships") to be formed to drill and own interests in
oil and natural gas properties around the world.  Reef Partners LLC will be
the managing general partner of each partnership.

         The registrant filed a Registration Statement on Form S-1 (No.
333-93399) (the "Registration Statement") with the Securities and Exchange
Commission (the "Commission") with respect to the offering of units of
preformation limited partner interests and preformation general partner
interests in the Partnerships.  The Registration Statement was declared
effective by the Commission on May 31, 2001.  The registrant filed a
post-effective amendment to the Registration Statement on September 14, 2001,
which was declared effective by the Commission on September 26, 2001.  As of
the date of this filing, there have been no sales of partnership units under
the Registration Statement and no Partnerships have been formed.  The Company
anticipates the formation of and the closing of the sale of units in its first
partnership, Reef Global Energy Ventures I, L.P., in 2002.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

         The Partnerships have not yet been formed and currently have no
indebtedness or income from foreign sources that would subject them to market
risk.  The Partnerships will not engage in commodity futures trading or
hedging activities and will not enter into derivative financial instrument
transactions for trading or other speculative purposes.  The Partnerships also
will not engage in interest rate swap transactions that could expose them to
market risk.  However, to the extent that changes in interest rates and
currency exchange rates affect general economic conditions, the Partnerships
would be affected by such changes.

                                 SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                REEF GLOBAL ENERGY VENTURES
                                (Registrant)


                                By: Reef Partners LLC,
                                    a Nevada limited liability company



Dated: October 23, 2001         By: /s/ MICHAEL J. MAUCELI
                                    MICHAEL J. MAUCELI
                                    Manager and Member
                                    (PRINCIPAL EXECUTIVE OFFICER)



Dated: October 23, 2001         By: /s/ DANIEL C. SIBLEY
                                    DANIEL C. SIBLEY
                                    General Counsel and Chief Financial Officer
                                    (PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER)


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