----

----

|                                                           |                                 |
|----------------------------------------------------------------|--------------------------------------|
| West Virginia                                                  | 20-2088726                           |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
|                                                           |                                 |

| Large accelerated filer     o | Accelerated filer     o              |
|--------------------------------------------------------|---------------------------------------------------------------|
|                                                   |                                                          |
| Non-accelerated filer     o   | Smaller reporting company     þ |

----

----

----

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

INDEX TO REPORT ON FORM 10-Q

|                                        |   |                                                                                        | Page   |
|---------------------------------------------|--------|---------------------------------------------------------------------------------------------|--------|
|   PART I – FINANCIAL INFORMATION |
|                                        |   |                                                                                        |   |
| Item 1.                                     |   | Financial Statements (unaudited)                                                            |   |
|                                        |   | Condensed Balance Sheets (unaudited)                                                        | 2      |
|                                        |   | Condensed Statements of Operations (unaudited)                                              | 3      |
|                                        |   | Condensed Statements of Cash Flows (unaudited)                                              | 4      |
|                                        |   | Notes to Unaudited Condensed Financial Statements                                           | 5      |
| Item 2.                                     |   | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 11     |
| Item 3.                                     |   | Quantitative and Qualitative Disclosures About Market Risk                                  | 21     |
| Item 4T.                                    |   | Controls and Procedures                                                                     | 21     |
|                                        |   |                                                                                        |   |
|   PART II – OTHER INFORMATION    |
|                                        |   |                                                                                        |   |
| Item 1.                                     |   | Legal Proceedings                                                                           | 22     |
| Item 1A.                                    |   | Risk Factors                                                                                | 22     |
| Item 2.                                     |   | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 22     |
| Item 3.                                     |   | Defaults Upon Senior Securities                                                             | 22     |
| Item 4.                                     |   | [Removed and Reserved]                                                                      | 22     |
| Item 5.                                     |   | Other Information                                                                           | 22     |
| Item 6.                                     |   | Exhibits                                                                                    | 23     |
|                                        |   |                                                                                        |   |
|                                        |   | SIGNATURES                                                                                  | 24     |

----

Index

|   | ·   | changes in production volumes, worldwide demand, and commodity prices for natural gas and oil; |
|--------|--------------------|------------------------------------------------------------------------------------------------|

|   | ·   | changes in estimates of proved reserves; |
|--------|--------------------|------------------------------------------|

|   | ·   | the timing and extent of the Partnership’s success in further developing and producing the Partnership’s natural gas and oil reserves; |
|--------|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·   | the Managing General Partner’s ability to acquire drilling rig services, supplies and services at reasonable prices; |
|--------|--------------------|----------------------------------------------------------------------------------------------------------------------------|

|   | ·   | risks incident to the recompletion and operation of natural gas and oil wells; |
|--------|--------------------|--------------------------------------------------------------------------------|

|   | ·   | future production and well recompletion costs; |
|--------|--------------------|------------------------------------------------|

|   | ·   | the availability of Partnership future cash flows for investor distributions or funding of Well Recompletion Plan activities; |
|--------|--------------------|-------------------------------------------------------------------------------------------------------------------------------|

|   | ·   | the availability of sufficient pipeline and other transportation facilities to carry Partnership production and the impact of these facilities on price; |
|--------|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·   | the effect of existing and future laws, governmental regulations and the political and economic climate of the United States of America, or U.S.; |
|--------|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·   | changes in environmental laws and the regulations and enforcement related to those laws; |
|--------|--------------------|------------------------------------------------------------------------------------------|

|   | ·   | the identification of and severity of environmental events and governmental responses to the events; |
|--------|--------------------|------------------------------------------------------------------------------------------------------|

|   | ·   | the effect of natural gas and oil derivatives activities; |
|--------|--------------------|-----------------------------------------------------------|

|   | ·   | conditions in the capital markets; and |
|--------|--------------------|----------------------------------------|

|   | ·   | losses possible from pending or future litigation. |
|--------|--------------------|----------------------------------------------------|

----

Index

Condensed Balance Sheets

|                                                                  |   |         |        |   |              |   |
|-----------------------------------------------------------------------|--------|--------------|-------------|--------|-------------------|--------|
|                                                                  |   | June 30,2010 |        |   | December 31,2009* |   |
| Assets                                                                |   |         |        |   |              |   |
|                                                                  |   |         |        |   |              |   |
| Current assets:                                                       |   |         |        |   |              |   |
| Cash and cash equivalents                                             |   | $            | 201,006     |   |              | $      | 201,006 |   |
| Accounts receivable                                                   |   |         | 266,636     |   |              |   | 354,817 |   |
| Oil inventory                                                         |   |         | 27,886      |   |              |   | 29,980 |   |
| Due from Managing General Partner-derivatives                         |   |         | 504,265     |   |              |   | 487,802 |   |
| Due from Managing General Partner-other, net                          |   |         | 292,642     |   |              |   | 578,687 |   |
| Total current assets                                                  |   |         | 1,292,435   |   |              |   | 1,652,292 |   |
|                                                                  |   |         |        |   |              |   |   |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Oil and gas properties, successful efforts method, at cost            |   |         | 45,024,562  |   |              |   | 45,007,332 |   |
| Less:  Accumulated depreciation, depletion and amortization |   |         | (22,326,224 | )      |              |   | (20,826,745 | ) |
| Oil and gas properties, net                                           |   |         | 22,698,338  |   |              |   | 24,180,587 |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Due from Managing General Partner-derivatives                         |   |         | 867,170     |   |              |   | 368,502 |   |
| Other assets                                                          |   |         | 32,575      |   |              |   | 18,917 |   |
| Total noncurrent assets                                               |   |         | 23,598,083  |   |              |   | 24,568,006 |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Total Assets                                                          |   | $            | 24,890,518  |   |              | $      | 26,220,298 |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Liabilities and Partners' Equity                                      |   |         |        |   |              |   |   |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Current liabilities:                                                  |   |         |        |   |              |   |   |   |
| Accounts payable and accrued expenses                                 |   | $            | 31,715      |   |              | $      | 36,571 |   |
| Due to Managing General Partner-derivatives                           |   |         | 368,351     |   |              |   | 377,704 |   |
| Total current liabilities                                             |   |         | 400,066     |   |              |   | 414,275 |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Due to Managing General Partner-derivatives                           |   |         | 922,475     |   |              |   | 1,114,345 |   |
| Asset retirement obligations                                          |   |         | 536,724     |   |              |   | 522,803 |   |
| Total liabilities                                                     |   |         | 1,859,265   |   |              |   | 2,051,423 |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Commitments and contingent liabilities                                |   |         |        |   |              |   |   |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Partners' equity:                                                     |   |         |        |   |              |   |   |   |
| Managing General Partner                                              |   |         | 4,617,320   |   |              |   | 4,844,843 |   |
| Limited Partners - 2,022.64 units issued and outstanding              |   |         | 18,413,933  |   |              |   | 19,324,032 |   |
| Total Partners' equity                                                |   |         | 23,031,253  |   |              |   | 24,168,875 |   |
|                                                                  |   |         |        |   |              |   |   |   |
| Total Liabilities and Partners' Equity                                |   | $            | 24,890,518  |   |              | $      | 26,220,298 |   |

----

Index

| PDC 2005-B Limited Partnership                                          |
|-------------------------------------------------------------------------|
| Condensed Statements of Operations                                      |
| (unaudited)                                                             |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                    |   | Three months ended June 30, |   |   | Six months ended June 30, |   |
|                                                                    |   | 2010 |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| Revenues:                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas and oil sales                                               |   | $ | 820,591 |   |   | $ | 744,409 |   |   | $ | 1,992,165 |   |   | $ | 1,480,302 |   |
| Commodity price risk management gain (loss), net                        |   |   | 313,912 |   |   |   | (743,343 | ) |   |   | 1,142,214 |   |   |   | (712,185 | ) |
| Total revenues                                                          |   |   | 1,134,503 |   |   |   | 1,066 |   |   |   | 3,134,379 |   |   |   | 768,117 |   |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating costs and expenses:                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas and oil production costs                                    |   |   | 389,447 |   |   |   | 255,596 |   |   |   | 692,431 |   |   |   | 557,007 |   |
| Direct costs - general and administrative                               |   |   | 43,862 |   |   |   | 115,767 |   |   |   | 79,605 |   |   |   | 266,765 |   |
| Depreciation, depletion and amortization                                |   |   | 717,172 |   |   |   | 1,236,181 |   |   |   | 1,499,479 |   |   |   | 2,545,095 |   |
| Accretion of asset retirement obligations                               |   |   | 7,012 |   |   |   | 4,891 |   |   |   | 13,921 |   |   |   | 9,782 |   |
| Total operating costs and expenses                                      |   |   | 1,157,493 |   |   |   | 1,612,435 |   |   |   | 2,285,436 |   |   |   | 3,378,649 |   |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Loss) income from operations                                           |   |   | (22,990 | ) |   |   | (1,611,369 | ) |   |   | 848,943 |   |   |   | (2,610,532 | ) |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                         |   |   | - |   |   |   | 7,183 |   |   |   | - |   |   |   | 15,786 |   |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income                                                       |   | $ | (22,990 | ) |   | $ | (1,604,186 | ) |   | $ | 848,943 |   |   | $ | (2,594,746 | ) |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income allocated to partners                                 |   | $ | (22,990 | ) |   | $ | (1,604,186 | ) |   | $ | 848,943 |   |   | $ | (2,594,746 | ) |
| Less:  Managing General Partner interest in net (loss) income |   |   | (4,598 | ) |   |   | (320,837 | ) |   |   | 169,789 |   |   |   | (518,949 | ) |
| Net (loss) income allocated to Investor Partners                        |   | $ | (18,392 | ) |   | $ | (1,283,349 | ) |   | $ | 679,154 |   |   | $ | (2,075,797 | ) |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income per Investor Partner unit                             |   | $ | (9 | ) |   | $ | (634 | ) |   | $ | 336 |   |   | $ | (1,026 | ) |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investor Partner units outstanding                                      |   |   | 2,022.64 |   |   |   | 2,022.64 |   |   |   | 2,022.64 |   |   |   | 2,022.64 |   |

----

Index

| PDC 2005-B Limited Partnership                                                           |
|------------------------------------------------------------------------------------------|
| Condensed Statements of Cash Flows                                                       |
| (unaudited)                                                                              |
|                                                                                     |   |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |
|                                                                                     |   | Six months ended June 30, |   |
|                                                                                     |   | 2010 |   |   | 2009 |   |
| Cash flows from operating activities:                                                    |   |   |   |   |   |   |
| Net income (loss)                                                                        |   | $ | 848,943 |   |   | $ | (2,594,746 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |   |   |   |   |   |   |   |   |
| Depreciation, depletion and amortization                                                 |   |   | 1,499,479 |   |   |   | 2,545,095 |   |
| Accretion of asset retirement obligations                                                |   |   | 13,921 |   |   |   | 9,782 |   |
| Unrealized (gain) loss on derivative transactions                                        |   |   | (716,354 | ) |   |   | 1,985,251 |   |
| Changes in operating assets and liabilities:                                             |   |   |   |   |   |   |   |   |
| Decrease (increase) in accounts receivable                                               |   |   | 88,181 |   |   |   | (42,558 | ) |
| Decrease in oil inventory                                                                |   |   | 2,094 |   |   |   | 8,358 |   |
| Increase in other assets                                                                 |   |   | (13,658 | ) |   |   | (7,561 | ) |
| Decrease in accounts payable and accrued expenses                                        |   |   | (4,856 | ) |   |   | (16,947 | ) |
| Decrease in due from Managing General Partner - other, net                               |   |   | 286,045 |   |   |   | 502,480 |   |
| Net cash provided by operating activities                                                |   |   | 2,003,795 |   |   |   | 2,389,154 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                                    |   |   |   |   |   |   |   |   |
| Capital expenditures for oil and gas properties                                          |   |   | (17,230 | ) |   |   | (7,719 | ) |
| Proceeds from drilling advance refund from Managing General Partner                 |   |   | - |   |   |   | 54,741 |   |
| Proceeds from Colorado sales tax refund related to capital purchases                     |   |   | - |   |   |   | 2,894 |   |
| Net cash (used in) provided by investing activities                                      |   |   | (17,230 | ) |   |   | 49,916 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                    |   |   |   |   |   |   |   |   |
| Distributions to Partners                                                                |   |   | (1,986,565 | ) |   |   | (2,382,861 | ) |
| Net cash used in financing activities                                                    |   |   | (1,986,565 | ) |   |   | (2,382,861 | ) |
|                                                                                     |   |   |   |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                |   |   | - |   |   |   | 56,209 |   |
| Cash and cash equivalents, beginning of period                                           |   |   | 201,006 |   |   |   | 444,727 |   |
| Cash and cash equivalents, end of period                                                 |   | $ | 201,006 |   |   | $ | 500,936 |   |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP                    |
|---------------------------------------------------|
| NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
| June 30, 2010                                     |
|  (unaudited)                                 |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP                    |
|---------------------------------------------------|
| NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
| June 30, 2010                                     |
|  (unaudited)                                 |

|                                                                                           |   | June 30, |     |   | December 31, |   |
|------------------------------------------------------------------------------------------------|--------|----------|----------|--------|--------------|--------|
|                                                                                           |   | 2010     |     |   | 2009         |   |
|                                                                                           |   |     |     |   |         |   |
| Natural gas and oil sales revenues collected from the Partnership's third-party customers |   | $        | 365,955  |   |         | $      | 394,751 |   |
| Commodity Price Risk Management, Realized Gains                                                |   |     | 49,685   |   |         |   | 310,897 |   |
| Other (1)                                                                                      |   |     | (122,998 | )      |         |   | (126,961 | ) |
| Total Due from Managing General Partner-other, net                                             |   | $        | 292,642  |   |         | $      | 578,687 |   |

|   | (1)  | All other unsettled transactions, excluding derivative instruments, between the Partnership and the Managing General Partner.  The majority of these are operating costs or general and administrative costs which have not been deducted from distributions. |
|--------|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                       |   | Three months ended June 30, |    |   | Six months ended June 30, |   |
|--------------------------------------------|--------|-----------------------------|---------|--------|---------------------------|--------|
|                                       |   | 2010                        |    |   | 2009                      |   |   | 2010 |   |   | 2009 |   |
|                                       |   |                        |    |   |                      |   |   |   |   |   |   |   |
| Well operations and maintenance            |   | $                           | 315,504 |   |                      | $      | 205,714 |   |   | $ | 547,891 |   |   | $ | 430,626 |   |
| Gathering, compression and processing fees |   |                        | 27,689  |   |                      |   | 27,473 |   |   |   | 55,214 |   |   |   | 52,138 |   |
| Direct costs - general and administrative  |   |                        | 43,862  |   |                      |   | 115,767 |   |   |   | 79,605 |   |   |   | 266,765 |   |
| Cash distributions*                        |   |                        | 174,639 |   |                      |   | 300,864 |   |   |   | 430,564 |   |   |   | 509,926 |   |

| *Cash distributions include $13,514 and $33,252 during the three and six months ended June 30, 2010, respectively, and $22,061 and $33,355 during the three and six months ended June 30, 2009, respectively, related to equity cash distributions on Investor Partner units repurchased by PDC. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

| PDC 2005-B LIMITED PARTNERSHIP                    |
|---------------------------------------------------|
| NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
| June 30, 2010                                     |
|  (unaudited)                                 |

|                                  |   | Quoted Prices inActive Markets(Level 1) |      |   | SignificantUnobservable Inputs(Level 3) |   |       | Total  |   |
|---------------------------------------|--------|-----------------------------------------|-----------|--------|-----------------------------------------|--------|------------|--------|--------|
|                                  |   |                                    |      |   |                                    |   |       |   |   |
| As of December 31, 2009               |   |                                    |      |   |                                    |   |       |   |   |
| Assets:                               |   |                                    |      |   |                                    |   |       |   |   |
| Commodity based derivatives           |   | $                                       | 373,862   |   |                                    | $      | 482,442    |   |   | $ | 856,304 |   |
| Total assets                          |   |                                    | 373,862   |   |                                    |   | 482,442    |   |   |   | 856,304 |   |
|                                  |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Liabilities:                          |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Commodity based derivatives           |   |                                    | (25,602   | )      |                                    |   | (121,477   | )      |   |   | (147,079 | ) |
| Basis protection derivative contracts |   |                                    | -         |   |                                    |   | (1,344,970 | )      |   |   | (1,344,970 | ) |
| Total liabilities                     |   |                                    | (25,602   | )      |                                    |   | (1,466,447 | )      |   |   | (1,492,049 | ) |
|                                  |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Net asset (liability)                 |   | $                                       | 348,260   |   |                                    | $      | (984,005   | )      |   | $ | (635,745 | ) |
|                                  |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| As of June 30, 2010                   |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Assets:                               |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Commodity based derivatives           |   | $                                       | 1,164,514 |   |                                    | $      | 206,921    |   |   | $ | 1,371,435 |   |
| Total assets                          |   |                                    | 1,164,514 |   |                                    |   | 206,921    |   |   |   | 1,371,435 |   |
|                                  |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Liabilities:                          |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Commodity based derivatives           |   |                                    | -         |   |                                    |   | (66,156    | )      |   |   | (66,156 | ) |
| Basis protection derivative contracts |   |                                    | -         |   |                                    |   | (1,224,670 | )      |   |   | (1,224,670 | ) |
| Total liabilities                     |   |                                    | -         |   |                                    |   | (1,290,826 | )      |   |   | (1,290,826 | ) |
|                                  |   |                                    |      |   |                                    |   |       |   |   |   |   |   |
| Net asset (liability)                 |   | $                                       | 1,164,514 |   |                                    | $      | (1,083,905 | )      |   | $ | 80,609 |   |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP                    |
|---------------------------------------------------|
| NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
| June 30, 2010                                     |
|  (unaudited)                                 |

|                                                                                                                                               |   | Six months ended |       |
|----------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|------------|
|                                                                                                                                               |   | June 30, 2010    |       |
| Fair value, net liability, as of December 31, 2009                                                                                                 |   | $                | (984,005   | ) |
| Changes in fair value included in statement of operations line item:                                                                               |   |             |       |   |
| Commodity price risk management, net                                                                                                               |   |             | 202,319    |   |
| Settlements                                                                                                                                        |   |             | (302,219   | ) |
| Fair value, net liability, as of June 30, 2010                                                                                                     |   | $                | (1,083,905 | ) |
|                                                                                                                                               |   |             |       |   |
| Change in unrealized gains (losses) relating to assets (liabilities) still held as of June 30, 2010 included in statement of operations line item: |   |             |       |   |
| Commodity price risk management, net                                                                                                               |   | $                | 154,888    |   |

|                                                           |                       |                                          |   | Fair Value |      |
|----------------------------------------------------------------|----------------------------|-----------------------------------------------|--------|------------|-----------|
|                                                           |                       | Balance Sheet                                 |   | June 30,   |      |   | December 31, |   |
| Derivative instruments not designated as hedge  (1): |                       | Line Item                                     |   | 2010       |      |   | 2009 |   |
|                                                           |                       |                                          |   |       |      |   |   |   |
| Derivative Assets:                                             | Current                    |                                          |   |       |      |   |   |   |
|                                                           | Commodity contracts        | Due from Managing General Partner-derivatives |   | $          | 504,265   |   |   | $ | 487,802 |   |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
|                                                           | Non Current                |                                          |   |       |      |   |   |   |   |   |
|                                                           | Commodity contracts        | Due from Managing General Partner-derivatives |   |       | 867,170   |   |   |   | 368,502 |   |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
| Total Derivative Assets                                        |                       |                                          |   | $          | 1,371,435 |   |   | $ | 856,304 |   |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
| Derivative Liabilities:                                        | Current                    |                                          |   |       |      |   |   |   |   |   |
|                                                           | Commodity contracts        | Due to Managing General Partner-derivatives   |   | $          | (30,785   | ) |   | $ | (26,334 | ) |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
|                                                           | Basis protection contracts | Due to Managing General Partner-derivatives   |   |       | (337,566  | ) |   |   | (351,370 | ) |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
|                                                           | Non Current                |                                          |   |       |      |   |   |   |   |   |
|                                                           | Commodity contracts        | Due to Managing General Partner-derivatives   |   |       | (35,371   | ) |   |   | (120,745 | ) |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
|                                                           | Basis protection contracts | Due to Managing General Partner-derivatives   |   |       | (887,104  | ) |   |   | (993,600 | ) |
|                                                           |                       |                                          |   |       |      |   |   |   |   |   |
| Total Derivative Liabilities                                   |                       |                                          | $      | (1,290,826 | )         |   | $ | (1,492,049 | ) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP                    |
|---------------------------------------------------|
| NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
| June 30, 2010                                     |
|  (unaudited)                                 |

|                                                   |   | Three months ended June 30,                                                      |     |
|--------------------------------------------------------|--------|----------------------------------------------------------------------------------|----------|
|                                                   |   | 2010                                                                             |     |   | 2009 |   |
| Statement of operations line item                      |   | Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized |     |   | Realized and Unrealized Gains For the Current Period |   |   | Total |   |   | Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized |   |   | Realized and Unrealized Losses For the Current Period |   |   | Total |   |
|                                                   |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commodity price risk management, net                   |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Realized gains (losses)                                |   | $                                                                                | 38,897   |   |   | $ | 20,545 |   |   | $ | 59,442 |   |   | $ | 551,444 |   |   | $ | (51,156 | ) |   | $ | 500,288 |   |
| Unrealized (losses) gains                              |   |                                                                             | (38,897  | ) |   |   | 293,367 |   |   |   | 254,470 |   |   |   | (551,444 | ) |   |   | (692,187 | ) |   |   | (1,243,631 | ) |
| Total commodity price risk management gain (loss), net |   | $                                                                                | -        |   |   | $ | 313,912 |   |   | $ | 313,912 |   |   | $ | - |   |   | $ | (743,343 | ) |   | $ | (743,343 | ) |
|                                                   |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                   |   | Six months ended June 30,                                                        |     |
|                                                   |   | 2010                                                                             |     |   | 2009 |   |
| Statement of operations line item                      |   | Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized |     |   | Realized and Unrealized Gains For the Current Period |   |   | Total |   |   | Reclassification of Realized Gains (Losses) Included in Prior Periods Unrealized |   |   | Realized and Unrealized Gains (Losses) For the Current Period |   |   | Total |   |
|                                                   |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commodity price risk management, net                   |   |                                                                             |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Realized gains                                         |   | $                                                                                | 255,136  |   |   | $ | 170,724 |   |   | $ | 425,860 |   |   | $ | 1,054,158 |   |   | $ | 218,908 |   |   | $ | 1,273,066 |   |
| Unrealized (losses) gains                              |   |                                                                             | (255,136 | ) |   |   | 971,490 |   |   |   | 716,354 |   |   |   | (1,054,158 | ) |   |   | (931,093 | ) |   |   | (1,985,251 | ) |
| Total commodity price risk management gain (loss), net |   | $                                                                                | -        |   |   | $ | 1,142,214 |   |   | $ | 1,142,214 |   |   | $ | - |   |   | $ | (712,185 | ) |   | $ | (712,185 | ) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP                    |
|---------------------------------------------------|
| NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS |
| June 30, 2010                                     |
|  (unaudited)                                 |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|---------------|---------------------------------------------------------------------------------------------|

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

|                                                                  |   | Three months ended June 30, |    |   | Six months ended June 30, |   |
|-----------------------------------------------------------------------|--------|-----------------------------|---------|--------|---------------------------|--------|
|                                                                  |   | 2010                        |    |   | 2009                      |   |   | Change |   |   | 2010 |   |   | 2009 |   |   | Change |   |
| Number of producing wells (end of period)                             |   |                        | 51      |   |                      |   | 51 |   |   |   | - |   |   |   | 51 |   |   |   | 51 |   |   |   | - |   |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Production  (1)                                             |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas (Mcf)                                                     |   |                        | 121,670 |   |                      |   | 137,201 |   |   |   | -11 | % |   |   | 246,747 |   |   |   | 271,247 |   |   |   | -9 | % |
| Oil (Bbl)                                                             |   |                        | 6,374   |   |                      |   | 8,959 |   |   |   | -29 | % |   |   | 13,845 |   |   |   | 17,911 |   |   |   | -23 | % |
| Natural gas equivalents (Mcfe)  (2)                         |   |                        | 159,914 |   |                      |   | 190,955 |   |   |   | -16 | % |   |   | 329,817 |   |   |   | 378,713 |   |   |   | -13 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural Gas and Oil Sales                                             |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas                                                           |   | $                           | 372,268 |   |                      | $      | 273,918 |   |   |   | 36 | % |   | $ | 999,244 |   |   | $ | 681,603 |   |   |   | 47 | % |
| Oil                                                                   |   |                        | 448,323 |   |                      |   | 470,491 |   |   |   | -5 | % |   |   | 992,921 |   |   |   | 798,699 |   |   |   | 24 | % |
| Total natural gas and oil sales                                       |   | $                           | 820,591 |   |                      | $      | 744,409 |   |   |   | 10 | % |   | $ | 1,992,165 |   |   | $ | 1,480,302 |   |   |   | 35 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Realized Gain (Loss) on Derivatives, net                              |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas                                                           |   | $                           | (5,456  | )      |                      | $      | 342,970 |   |   |   | -102 | % |   | $ | 300,237 |   |   | $ | 876,980 |   |   |   | -66 | % |
| Oil                                                                   |   |                        | 64,898  |   |                      |   | 157,318 |   |   |   | -59 | % |   |   | 125,623 |   |   |   | 396,086 |   |   |   | -68 | % |
| Total realized gain on derivatives, net                               |   | $                           | 59,442  |   |                      | $      | 500,288 |   |   |   | -88 | % |   | $ | 425,860 |   |   | $ | 1,273,066 |   |   |   | -67 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Average Selling Price (excluding realized gain (loss) on derivatives) |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas (per Mcf)                                                 |   | $                           | 3.06    |   |                      | $      | 2.00 |   |   |   | 53 | % |   | $ | 4.05 |   |   | $ | 2.51 |   |   |   | 61 | % |
| Oil (per Bbl)                                                         |   |                        | 70.34   |   |                      |   | 52.52 |   |   |   | 34 | % |   |   | 71.72 |   |   |   | 44.59 |   |   |   | 61 | % |
| Natural gas equivalents (per Mcfe)                                    |   |                        | 5.13    |   |                      |   | 3.90 |   |   |   | 32 | % |   |   | 6.04 |   |   |   | 3.91 |   |   |   | 54 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Average Selling Price (including realized gain (loss) on derivatives) |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural gas (per Mcf)                                                 |   | $                           | 3.01    |   |                      | $      | 4.50 |   |   |   | -33 | % |   | $ | 5.27 |   |   | $ | 5.75 |   |   |   | -8 | % |
| Oil (per Bbl)                                                         |   |                        | 80.52   |   |                      |   | 70.08 |   |   |   | 15 | % |   |   | 80.79 |   |   |   | 66.71 |   |   |   | 21 | % |
| Natural gas equivalents (per Mcfe)                                    |   |                        | 5.50    |   |                      |   | 6.52 |   |   |   | -16 | % |   |   | 7.33 |   |   |   | 7.27 |   |   |   | 1 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Average Lifting Cost (per Mcfe)  (3)                        |   | $                           | 2.44    |   |                      | $      | 1.34 |   |   |   | 82 | % |   | $ | 2.10 |   |   | $ | 1.47 |   |   |   | 43 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating costs and expenses                                          |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Direct costs - general and administrative                             |   | $                           | 43,862  |   |                      | $      | 115,767 |   |   |   | -62 | % |   | $ | 79,605 |   |   | $ | 266,765 |   |   |   | -70 | % |
| Depreciation, depletion and amortization                              |   | $                           | 717,172 |   |                      | $      | 1,236,181 |   |   |   | -42 | % |   | $ | 1,499,479 |   |   | $ | 2,545,095 |   |   |   | -41 | % |
|                                                                  |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distributions                                                    |   | $                           | 805,627 |   |                      | $      | 1,394,017 |   |   |   | -42 | % |   | $ | 1,986,565 |   |   | $ | 2,382,861 |   |   |   | -17 | % |

|   | (1)   | Production is determined by multiplying the gross production volume of properties in which the Partnership has an interest by the percentage of the leasehold or other property interest the Partnership owns. |
|--------|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2)   | A ratio of energy content of natural gas and oil (six Mcf of natural gas equals one Bbl of oil) was used to obtain a conversion factor to convert oil production into equivalent Mcf of natural gas. |
|--------|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3)   | Production costs represent natural gas and oil operating expenses which include production taxes. |
|--------|-----------------|---------------------------------------------------------------------------------------------------|

|   | ·  | Bbl – One barrel or 42 U.S. gallons liquid volume |
|--------|--------------|---------------------------------------------------------|

|   | ·   | MBbl – One thousand barrels |
|--------|--------------------|-----------------------------------|

|   | ·   | Mcf – One thousand cubic feet |
|--------|--------------------|-------------------------------------|

|   | ·   | MMcf – One million cubic feet |
|--------|--------------------|-------------------------------------|

|   | ·   | Mcfe – One thousand cubic feet of natural gas equivalents |
|--------|--------------------|-----------------------------------------------------------------|

|   | ·   | MMcfe – One million cubic feet of natural gas equivalents |
|--------|--------------------|-----------------------------------------------------------------|

|   | ·   | MMbtu – One million British Thermal Units |
|--------|--------------------|-------------------------------------------------|

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

|                                                                    |   | Three months ended June 30, |    |   | Six months ended June 30, |   |
|-------------------------------------------------------------------------|--------|-----------------------------|---------|--------|---------------------------|--------|
| Commodity price risk management gain (loss), net                        |   | 2010                        |    |   | 2009                      |   |   | 2010 |   |   | 2009 |   |
| Realized gains (losses)                                                 |   |                        |    |   |                      |   |   |   |   |   |   |   |
| Oil                                                                     |   | $                           | 64,898  |   |                      | $      | 157,318 |   |   | $ | 125,623 |   |   | $ | 396,086 |   |
| Natural Gas                                                             |   |                        | (5,456  | )      |                      |   | 342,970 |   |   |   | 300,237 |   |   |   | 876,980 |   |
| Total realized gain, net                                                |   |                        | 59,442  |   |                      |   | 500,288 |   |   |   | 425,860 |   |   |   | 1,273,066 |   |
|                                                                    |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized gains (losses)                                               |   |                        |    |   |                      |   |   |   |   |   |   |   |   |   |   |   |
| Reclassification of realized gains included in prior periods unrealized |   |                        | (38,897 | )      |                      |   | (551,444 | ) |   |   | (255,136 | ) |   |   | (1,054,158 | ) |
| Unrealized gain (loss) for the period                                   |   |                        | 293,367 |   |                      |   | (692,187 | ) |   |   | 971,490 |   |   |   | (931,093 | ) |
| Total unrealized gain (loss), net                                       |   |                        | 254,470 |   |                      |   | (1,243,631 | ) |   |   | 716,354 |   |   |   | (1,985,251 | ) |
| Commodity price risk management gain (loss), net                        |   | $                           | 313,912 |   |                      | $      | (743,343 | ) |   | $ | 1,142,214 |   |   | $ | (712,185 | ) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

|                      |   | Collars              |    |     | Fixed-Price Swaps              |   |   | CIG Basis Protection Swaps    |   |   |                           |   |
|---------------------------|--------|----------------------|---------|----------|--------------------------------|--------|--------|-------------------------------|--------|--------|--------------------------------|--------|
| Commodity/Index           |   | Quantity (Gas-Mmbtu) |    |     | Weighted AverageContract Price |   |   | Quantity (Gas-Mmbtu Oil-Bbls) |   |   | Weighted Average ContractPrice |   |   | Quantity (Gas-Mmbtu) |   |   | Weighted Average ContractPrice |   |   | Fair Value at June 30, 2010(1) |   |
|                      | Floors |                 |    | Ceilings |                           |
|                      |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Natural Gas               |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CIG                       |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 10/01 - 12/31/2010        |   |                 | 26,098  |     |                           | $      | 4.75   |                          |   | $      | 9.45                           |   |   |   | - |   |   | $ | - |   |   |   | - |   |   | $ | - |   |   | $ | 15,929 |   |
| 01/01 - 03/31/2011        |   |                 | 39,147  |     |                           |   | 4.75   |                          |   |   | 9.45                           |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 19,508 |   |
|                      |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NYMEX                     |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 07/01 - 09/30/2010        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 82,917 |   |   |   | 5.57 |   |   |   | 90,127 |   |   |   | (1.88 | ) |   |   | (29,325 | ) |
| 10/01 - 12/31/2010        |   |                 | 8,929   |     |                           |   | 5.75   |                          |   |   | 8.30                           |   |   |   | 50,333 |   |   |   | 6.14 |   |   |   | 61,468 |   |   |   | (1.88 | ) |   |   | (2,853 | ) |
| 01/01 - 03/31/2011        |   |                 | 12,015  |     |                           |   | 5.75   |                          |   |   | 8.30                           |   |   |   | 30,508 |   |   |   | 6.83 |   |   |   | 42,523 |   |   |   | (1.88 | ) |   |   | (4,541 | ) |
| 04/01 - 06/30/2011        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 81,122 |   |   |   | 6.78 |   |   |   | 81,122 |   |   |   | (1.88 | ) |   |   | 28,899 |   |
| 07/01 - 12/31/2011        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 157,106 |   |   |   | 6.76 |   |   |   | 157,106 |   |   |   | (1.88 | ) |   |   | 2,666 |   |
| 2012-2013                 |   |                 | 18,770  |     |                           |   | 6.00   |                          |   |   | 8.27                           |   |   |   | 535,021 |   |   |   | 7.05 |   |   |   | 553,789 |   |   |   | (1.88 | ) |   |   | (22,604 | ) |
| Total Natural Gas         |   |                 | 104,959 |     |                           |   |   |                          |   |   |                           |   |   |   | 937,007 |   |   |   |   |   |   |   | 986,135 |   |   |   |   |   |   |   | 7,679 |   |
|                      |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Oil                       |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NYMEX                     |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 07/01 - 09/30/2010        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 4,382 |   |   |   | 92.96 |   |   |   | - |   |   |   | - |   |   |   | 72,467 |   |
| 10/01 - 12/31/2010        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 4,382 |   |   |   | 92.96 |   |   |   | - |   |   |   | - |   |   |   | 66,618 |   |
| 01/01 - 03/31/2011        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 1,973 |   |   |   | 70.75 |   |   |   | - |   |   |   | - |   |   |   | (14,486 | ) |
| 04/01 - 06/30/2011        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 2,001 |   |   |   | 70.75 |   |   |   | - |   |   |   | - |   |   |   | (16,299 | ) |
| 07/01 - 12/31/2011        |   |                 | -       |     |                           |   | -      |                          |   |   | -                              |   |   |   | 4,043 |   |   |   | 70.75 |   |   |   | - |   |   |   | - |   |   |   | (35,370 | ) |
| Total Oil                 |   |                 | -       |     |                           |   |   |                          |   |   |                           |   |   |   | 16,781 |   |   |   |   |   |   |   | - |   |   |   |   |   |   |   | 72,930 |   |
|                      |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Natural Gas and Oil |   |                 |    |     |                           |   |   |                          |   |   |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 80,609 |   |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

|   | ·   | Natural gas and oil receivables decreased to $0.6 million as of June 30, 2010, from $0.7 million as of December 31, 2009. |
|--------|--------------------|---------------------------------------------------------------------------------------------------------------------------|

|   | ·   | Realized derivative gains receivables decreased to $0.1 million as of June 30, 2010, from $0.3 million as of December 31, 2009. |
|--------|--------------------|---------------------------------------------------------------------------------------------------------------------------------|

| Three months     |   |  Managing        |    |  Investor      |   |                |
|------------------|--------|-----------------------|---------|---------------------|--------|---------------------|
|  ended      |   |  General Partner |    |  Partners      |   |  Total         |
|  June 30,   |   |  Distributions   |    |  Distributions |   |  Distributions |
|             |   |                  |    |                |   |                |
| 2010             |   | $                | 161,125 |                |   | 644,502             |   |   | 805,627 |
|             |   |                  |    |                |   |                |   |
| 2009             |   | $                     | 278,803 |                |   | 1,115,214           |   |   | 1,394,017 |
|             |   |                  |    |                |   |                |
|             |   |                  |    |                |   |                |
|  Six months |   |  Managing        |    |  Investor      |   |                |
|  ended      |   |  General Partner |    |  Partners      |   |  Total         |
|  June 30,   |   |  Distributions   |    |  Distributions |   |  Distributions |
|             |   |                  |    |                |   |                |
| 2010             |   | $                     | 397,312 |                |   | 1,589,253           |   |   | 1,986,565 |
|             |   |                  |    |                |   |                |
| 2009             |   | $                     | 476,571 |                |   | 1,906,290           |   |   | 2,382,861 |

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

|   | ·   | An increase in natural gas and oil sales receipts of $0.5 million, or 37%, accompanied by a decrease in direct costs – general and administrative of $0.2 million, or 70%; |
|--------|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·   | A decrease in commodity price risk management realized gains receipts of $0.7 million or 51%; and increase in natural gas and oil production costs of approximately $0.1 million or 24%; and |
|--------|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·   | A decrease in the liability Due to Managing General Partner-other, net, excluding natural gas and oil sales received from third parties and realized derivative gains, of approximately $0.3 million. |
|--------|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk |
|---------------|------------------------------------------------------------|

| Item 4T.  | Controls and Procedures |
|----------------|-------------------------|

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

| Item 1.  | Legal Proceedings |
|---------------|-------------------|

| Item1 A.  | Risk Factors |
|----------------|--------------|

| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds |
|---------------|-------------------------------------------------------------|

| Item 3.  | Defaults Upon Senior Securities |
|---------------|---------------------------------|

| Item 4.  | [Removed and Reserved] |
|---------------|------------------------|

| Item 5.  | Other Information |
|---------------|-------------------|

----

Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

| Item 6.  | Exhibits |
|---------------|----------|

|           |   |                                                                                                                                                                                                                                  |   | Incorporated by Reference  |   |           |
|----------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|----------------|
| Exhibit Number |   | Exhibit Description                                                                                                                                                                                                                   |   | Form                       |   | SEC FileNumber |   | Exhibit |   | FilingDate |   | FiledHerewith |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |           |   |   |   |   |   |   |
| 3.1            |   | Limited Partnership Agreement (filed by PDC as Managing General Partner for PDC 2004-2006 Drilling Program)                                                                                                                           |   | S-1 Post-Effective Amend 2 |   | 333-111260     |   | Appendix A |   | 06/29/2005 |   |   |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |           |   |   |   |   |   |   |
| 3.2            |   | Certificate of limited partnership which reflects the organization of the Partnership under West Virginia law                                                                                                                         |   | 10-K                  |   | 000-51452      |   | 3.2 |   | 02/26/2009 |   |   |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |           |   |   |   |   |   |   |
| 10.1           |   | Drilling and operating agreement between the Partnership and PDC, as Managing General Partner of the Partnership                                                                                                                      |   | 10-K                  |   | 000-51452      |   | 10.1 |   | 02/26/2009 |   |   |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |           |   |   |   |   |   |   |
| 31.1           |   | Rule 13a-14(a)/15d-14(c) Certification of Chief Executive Officer of Petroleum Development Corporation, the Managing General Partner of the Partnership as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.         |   |                       |   |           |   |   |   |   |   | X |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |           |   |   |   |   |   |   |
| 31.2           |   | Rule 13a-14(a)/15d-14(c) Certification of Chief Financial Officer of Petroleum Development Corporation, the Managing General Partner of the Partnership as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.         |   |                       |   |           |   |   |   |   |   | X |
|           |   |                                                                                                                                                                                                                                  |   |                       |   |           |   |   |   |   |   |   |
| 32.1           |   | Title 18 U.S.C. Section 1350 (Section 906 of Sarbanes-Oxley Act of 2002) Certifications by Chief Executive Officer and Chief Financial Officer of Petroleum Development Corporation, the Managing General Partner of the Partnership. |   |                       |   |           |   |   |   |   |   | X |

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Index

| PDC 2005-B LIMITED PARTNERSHIP        |
|---------------------------------------|
| (A West Virginia Limited Partnership) |

SIGNATURES

|   | By: /s/ Richard W. McCullough                                            |   |
|--------|--------------------------------------------------------------------------|--------|
|   | Richard W. McCulloughChairman and Chief Executive OfficerAugust 13, 2010 |   |

| Signature                 |   | Title                                      | Date            |
|---------------------------|--------|--------------------------------------------|-----------------|
|                      |   |                                       |            |
| /s/ Richard W. McCullough |   | Chairman and Chief Executive Officer       | August 13, 2010 |
| Richard W. McCullough     |   | Petroleum Development Corporation          |            |
|                      |   | Managing General Partner of the Registrant |            |
|                      |   | (Principal executive officer)              |            |
|                      |   |                                       |            |
| /s/ Gysle R. Shellum      |   | Chief Financial Officer                    | August 13, 2010 |
| Gysle R. Shellum          |   | Petroleum Development Corporation          |            |
|                      |   | Managing General Partner of the Registrant |            |
|                      |   | (Principal financial officer)              |            |
|                      |   |                                       |            |
| /s/ R. Scott Meyers       |   | Chief Accounting Officer                   | August 13, 2010 |
| R. Scott Meyers           |   | Petroleum Development Corporation          |            |
|                      |   | Managing General Partner of the Registrant |            |
|                      |   | (Principal accounting officer)             |            |

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