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


                                    FORM 10-Q


     / x /      Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

                For the quarterly period ended September 30, 1996

                                       or

     /   /      Transition Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934
                For the transition period from _______ to _______

                           Commission File No. 2-90417


                           PARKER & PARSLEY 84-A, LTD.
             (Exact name of Registrant as specified in its charter)

                Texas                                       75-1974814
    (State or other jurisdiction of                      (I.R.S. Employer
    incorporation or organization)                    Identification Number)

303 West Wall, Suite 101, Midland, Texas                       79701
(Address of principal executive offices)                     (Zip code)

       Registrant's Telephone Number, including area code : (915) 683-4768

                                 Not applicable
              (Former name, former address and former fiscal year,
                          if changed since last report)


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                Yes / x / No / /
                               Page 1 of __ pages.
                             -There are no exhibits-


<PAGE>



                           PARKER & PARSLEY 84-A, LTD.

                                TABLE OF CONTENTS


                                                                        Page
                          Part I. Financial Information

Item 1.    Financial Statements

           Balance Sheets as of September 30, 1996 and
              December 31, 1995   ....................................    3

           Statements of Operations for the three and nine
             months ended September 30, 1996 and 1995.................    4

           Statement of Partners' Capital for the nine months
             ended September 30, 1996.................................    5

           Statements of Cash Flows for the nine months ended
             September 30, 1996 and 1995..............................    6

           Notes to Financial Statements..............................    7

Item 2.    Management's Discussion and Analysis of Financial
             Condition and Results of Operations......................    9
             


                           Part II. Other Information

Item 1.    Legal Proceedings..........................................   13


           Signatures.................................................   14




                                        2

<PAGE>



                           PARKER & PARSLEY 84-A, LTD.
                          (A Texas Limited Partnership)

                          Part I. Financial Information

Item 1.   Financial Statements
                                 BALANCE SHEETS
                                                   September 30,   December 31,
                                                       1996            1995
                                                   ------------    -----------
                                                    (Unaudited)
                 ASSETS

Current assets:
   Cash and cash equivalents, including interest
      bearing deposits of $176,856 at September 30
      and $157,138 at December 31                  $    177,356    $   157,388
   Accounts receivable - oil and gas sales              211,248        180,964
                                                    -----------     ----------
           Total current assets                         388,604        338,352
                                                    -----------     ----------

Oil and gas properties - at cost, based on the
   successful efforts accounting method              18,206,556     18,200,723
      Accumulated depletion                         (14,196,727)   (13,940,516)
                                                    -----------     ----------
           Net oil and gas properties                 4,009,829      4,260,207
                                                    -----------     ----------
                                                   $  4,398,433    $ 4,598,559
                                                    ===========     ==========

LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
   Accounts payable - affiliate                    $     81,802    $   105,738

Partners' capital:
   Limited partners (19,435 interests)                3,847,860      4,013,044
   General partners                                     468,771        479,777
                                                    -----------     ----------
                                                      4,316,631      4,492,821
                                                    -----------     ----------
                                                   $  4,398,433    $ 4,598,559
                                                    ===========     ==========


The financial information included as of September 30, 1996 has been prepared by
           management without audit by independent public accountants.

   The accompanying notes are an integral part of these financial statements.

                                        3

<PAGE>



                           PARKER & PARSLEY 84-A, LTD.
                          (A Texas Limited Partnership)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)


                                  Three months ended       Nine months ended
                                     September 30,           September 30,
                                ---------------------   -----------------------
                                   1996        1995        1996         1995
                                ---------   ---------   ----------   ----------
Revenues:
   Oil and gas                  $ 470,808   $ 384,146   $1,373,298   $1,221,112
   Interest                         2,845       2,413        7,070        6,069
   Litigation settlement              -           -      1,055,353          -
   Gain on abandoned property         -        16,355          -         16,355
                                 --------    --------    ---------    ---------
                                  473,653     402,914    2,435,721    1,243,536
                                 --------    --------    ---------    ---------
Costs and expenses:
   Oil and gas production         223,011     225,682      677,333      715,425
   General and administrative      15,232      13,786       44,624       40,446
   Abandoned property                  -       12,039          -         12,039
   Depletion                       74,693     150,858      256,211      463,974
                                 --------    --------    ---------    ---------
                                  312,936     402,365      978,168    1,231,884
                                 --------    --------    ---------    ---------

Net income                      $ 160,717   $     549   $1,457,553   $   11,652
                                 ========    ========    =========    =========
Allocation of net income
  (loss):
    General partners            $  51,660   $  22,708   $  369,597   $   72,815
                                 ========    ========    =========    =========

    Limited partners            $ 109,057   $ (22,159)  $1,087,956   $  (61,163)
                                 ========    ========    =========    =========
Net income (loss) per limited
   partnership interest         $    5.61   $   (1.14)  $    55.98   $    (3.15)
                                 ========    ========    =========    =========
Distributions per limited
   partnership interest         $    8.10   $    5.35   $    64.48   $    18.03
                                 ========    ========    =========    =========

         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

<PAGE>



                           PARKER & PARSLEY 84-A, LTD.
                          (A Texas Limited Partnership)

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)




                                   General         Limited
                                   partners        partners           Total
                                  ----------      -----------      -----------

Balance at January 1, 1996        $  479,777      $ 4,013,044      $ 4,492,821

    Distributions                   (380,603)      (1,253,140)      (1,633,743)

    Net income                       369,597        1,087,956        1,457,553
                                   ---------       ----------       ----------

Balance at September 30, 1996     $  468,771      $ 3,847,860      $ 4,316,631
                                   =========       ==========       ==========







         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

<PAGE>



                           PARKER & PARSLEY 84-A, LTD.
                          (A Texas Limited Partnership)

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


                                                         Nine months ended
                                                            September 30,
                                                     -------------------------
                                                         1996          1995
                                                     -----------    ----------
Cash flows from operating activities:

  Net income                                         $ 1,457,553    $   11,652
  Adjustments to reconcile net income to net
    cash provided by operating activities:
      Depletion                                          256,211       463,974
      Gain on abandoned property                             -         (16,355)
  Changes in assets and liabilities:
      (Increase) decrease in accounts receivable         (30,284)       13,671
      Increase (decrease) in accounts payable            (23,263)       28,210
                                                      ----------     ---------
        Net cash provided by operating activities      1,660,217       501,152
                                                      ----------     ---------
Cash flows from investing activities:

  Additions to oil and gas properties                     (6,506)       (2,066)
  Proceeds from equipment salvage on abandoned
    property                                                  -         16,355
                                                      ----------     ---------
        Net cash provided by (used in) investing
          activities                                      (6,506)       14,289
                                                      ----------     ---------

Cash flows from financing activities:

  Cash distributions to partners                      (1,633,743)     (467,685)
                                                      ----------     ---------

Net increase in cash and cash equivalents                 19,968        47,756
Cash and cash equivalents at beginning of period         157,388        68,542
                                                      ----------     ---------
Cash and cash equivalents at end of period           $   177,356    $  116,298
                                                      ==========     =========

         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

<PAGE>



                           PARKER & PARSLEY 84-A, LTD.
                          (A Texas Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                               September 30, 1996
                                   (Unaudited)

Note 1.

Parker  &  Parsley  84-A,  Ltd.  (the  "Registrant")  is a  limited  partnership
organized in 1984 under the laws of the State of Texas.

The Registrant  engages  primarily in oil and gas  development and production in
Texas and is not involved in any industry segment other than oil and gas.

Note 2.

In the opinion of management, the Registrant's unaudited financial statements as
of September 30, 1996 and for the three and nine months ended September 30, 1996
and  1995  include  all  adjustments  and  accruals  consisting  only of  normal
recurring accrual adjustments which are necessary for a fair presentation of the
results for the  interim  period.  These  interim  results  are not  necessarily
indicative of results for a full year.

Certain  information  and  footnote  disclosure  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have been  condensed  or  omitted  in this Form 10-Q  pursuant  to the rules and
regulations of the Securities and Exchange Commission.  The financial statements
should  be read in  conjunction  with the  financial  statements  and the  notes
thereto  contained  in the  Registrant's  Report on Form 10-K for the year ended
December 31, 1995, as filed with the Securities and Exchange Commission,  a copy
of which is  available  upon  request by writing to Steven L. Beal,  Senior Vice
President, 303 West Wall, Suite 101, Midland, Texas 79701.

Note 3.

On May 25,  1993,  a final  settlement  agreement  was  negotiated,  drafted and
finally  executed,  ending litigation which had begun on September 5, 1989, when
the Registrant  filed suit along with other parties against Dresser  Industries,
Inc.;  Titan  Services,  Inc.;  BJ-Titan  Services  Company;  BJ-Hughes  Holding
Company;  Hughes Tool Company;  Baker Hughes Production  Tools,  Inc.; and Baker
Hughes  Incorporated  alleging that the defendants had  intentionally  failed to
provide the materials and services  ordered and paid for by the  Registrant  and
other parties in connection with the fracturing and acidizing of 523 wells,  and
then  fraudulently  concealed  the  shorting  practice  from  Parker  &  Parsley
Development L.P. ("PPDLP").  The May 25, 1993 settlement  agreement called for a
payment  of  $115  million  in  cash  by  the  defendants,  and  Southmark,  the
Registrant,  and the other  plaintiffs  indemnified  the defendants  against the
claims of Jack N.  Price.  The  managing  general  partner  received  the funds,
deducted  incurred  legal  expenses,  accrued  interest,  determined the general
partner's portion of the funds and calculated any inter-partnership allocations.

                                        7

<PAGE>



On May 3, 1993,  Jack N. Price,  the  attorney  who  represented  Gary G. "Zeke"
Lancaster in the Federal  Court  lawsuit,  filed suit in State Court in Beaumont
against all of the plaintiff partnerships,  including the Registrant and others,
alleging his  entitlement to 12% of the  settlement  proceeds.  Price's  lawsuit
claim for  approximately  $13.8 million is  predicated  on a purported  contract
entered  into with  Southmark  Corporation  in August 1988 in which he allegedly
binds the Registrant and the other  defendants,  as well as Southmark.  Although
PPDLP  believes the lawsuit was without  merit and has  vigorously  defended it,
PPDLP  has held in  reserve  approximately  12.5% of the total  settlement  (the
"Reserve") pending final resolution of the litigation.

A distribution of $91,000,000 was made to the working interest owners, including
the  Registrant,   on  July  30,  1993.  The  limited  partners  received  their
distribution  of $8,512,603,  or $438.00 per limited  partnership  interest,  in
September 1993. The allocation of the lawsuit settlement amount was based on the
original  verdict  entered on October 26, 1990.  The  allocation  to the working
interest  owners in each well (including the Registrant) was based on a ratio of
the relative  amount of damages due to  overcharges  for services and  materials
("Materials") and damages for loss of past and future production ("Production"),
each as determined in that initial judgment. Within the Registrant,  damages for
Materials  were allocated  between the partners based on their original  sharing
percentages for costs of acquiring and/or drilling of wells. Similarly,  damages
related to Production were allocated to the partners in the Registrant  based on
their respective share of revenues from the subject wells.

As a condition of the purchase by Parker & Parsley Petroleum Company of Parker &
Parsley Development Company ("PPDC"),  which was merged into PPDLP on January 1,
1995,  from its former  parent in May 1989,  PPDC's  interest in the lawsuit and
subsequent  settlement was retained by the former parent.  Consequently,  all of
PPDC's share of the settlement  related to its separately  held interests in the
wells and its partnership  interests in the sponsored  partnerships (except that
portion allocable to interests  acquired by PPDC after May 1989) was paid to the
former parent.

On September  20,  1995,  the Beaumont  trial judge  entered a summary  judgment
against Southmark for the $13,790,000  contingent fee sought by Price,  together
with prejudgment  interest,  and also awarded Price an additional  $5,498,525 in
attorneys'  fees. On January 22, 1996, the trial judge entered an  interlocutory
summary judgment  against Dresser  Industries and Baker Hughes for an amount yet
to be  determined.  Pursuant to their  indemnity  obligations,  the  Registrant,
Southmark,  PPDLP and other original  plaintiffs have  vigorously  protected the
rights of both Dresser and Baker Hughes.  Southmark has  vigorously  pursued its
appeal of the judgment,  and has posted a supersedeas  bond using the Reserve as
collateral. On April 29, 1996, all of the parties,  including the Registrant and
Southmark,  entered  into a $7.4 million  settlement  with Price which fully and
finally  resolves  all of the  litigation  and  disputes  between  the  parties,
including the Registrant's indemnity obligations to Dresser and Baker Hughes.

Pursuant to the settlement agreement,  all of the pending lawsuits and judgments
have been dismissed,  the supersedeas bond released, and the Reserve released as
collateral.  On June 28,  1996,  a final  distribution  was made to the  working
interest owners,  including $825,594, or $42.48 per limited partnership interest
to the Registrant and its partners.

                                        8

<PAGE>



Item 2.     Management's Discussion and Analysis of Financial Condition
              and Results of Operations (1)

Results of Operations

Nine months ended  September 30, 1996 compared with nine months ended  September
  30, 1995

Revenues:

The  Registrant's  oil and gas revenues  increased to $1,373,298 from $1,221,112
for the nine months ended September 30, 1996 and 1995, respectively, an increase
of 12%. The increase in revenues  resulted from higher average  prices  received
per  barrel of oil and mcf of gas,  offset by a 7%  decrease  in  barrels of oil
produced and sold and a 14%  decrease in mcf of gas  produced and sold.  For the
nine months ended  September  30,  1996,  47,627  barrels were sold  compared to
51,294 for the same period in 1995,  a decrease of 3,667  barrels.  For the nine
months  ended  September  30,  1996,  177,818  mcf of gas were sold  compared to
207,332  for the same  period in 1995,  a  decrease  of 29,514  mcf.  The volume
decreases were primarily due to the decline  characteristics of the Registrant's
oil and gas  properties.  Management  expects a certain  amount  of  decline  in
production  to  continue  in the  future  until  the  Registrant's  economically
recoverable reserves are fully depleted.

The average  price  received per barrel of oil  increased  $3.73,  or 22%,  from
$17.28  for the nine  months  ended  September  30,  1995 to $21.01 for the same
period in 1996 while the average  price  received per mcf of gas  increased  29%
from $1.62 during the nine months ended September 30, 1995 to $2.09 in 1996. The
market price for oil and gas has been extremely volatile in the past decade, and
management expects a certain amount of volatility to continue in the foreseeable
future.  The  Registrant may therefore sell its future oil and gas production at
average  prices lower or higher than that received  during the nine months ended
September 30, 1996.

A gain on abandoned  property of $16,355 was  recognized  during the nine months
ended  September  30, 1995,  resulting  from proceeds  received  from  equipment
salvage on the abandonment of one fully depleted  property.  Abandoned  property
costs of $12,039  were  incurred  on one well  abandoned  during the nine months
ended September 30, 1995. There was no abandonment  activity for the same period
ended September 30, 1996.

Costs and Expenses:

Total  costs and  expenses  decreased  to  $978,168  for the nine  months  ended
September  30,  1996 as compared to  $1,231,884  for the same period in 1995,  a
decrease of $253,716,  or 21%.  This  decrease was due to declines in production
costs, abandoned property costs and depletion,  offset by an increase in general
and administrative expenses ("G&A").

Production  costs were $677,333 for the nine months ended September 30, 1996 and
$715,425 for the same period in 1995 resulting in a $38,092 decrease, or 5%. The
decrease was due to a reduction in well repair and maintenance costs.

                                        9

<PAGE>



G&A's  components are  independent  accounting and  engineering  fees,  computer
services,  postage and managing  general partner  personnel  costs.  During this
period, G&A increased, in aggregate,  10% from $40,446 for the nine months ended
September 30, 1995 to $44,624 for the same period in 1996.

Depletion was $256,211 for the nine months ended  September 30, 1996 compared to
$463,974 for the same period in 1995,  representing  a decrease of $207,763,  or
45%. This decrease was primarily  attributable to the following  factors:  (i) a
reduction  in the  Registrant's  net  depletable  basis  from  charges  taken in
accordance with Statement of Financial Accounting Standards No. 121, "Accounting
for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed
Of" ("FAS 121"),  (ii) a reduction in oil  production  of 3,667  barrels for the
nine months ended September 30, 1996 as compared to the same period in 1995, and
(iii) an increase in oil and gas reserves  during the third quarter of 1996 as a
result of higher commodity prices.

On May 25,  1993,  a final  settlement  agreement  was  negotiated,  drafted and
finally  executed,  ending litigation which had begun on September 5, 1989, when
the Registrant  filed suit along with other parties against Dresser  Industries,
Inc.;  Titan  Services,  Inc.;  BJ-Titan  Services  Company;  BJ-Hughes  Holding
Company;  Hughes Tool Company;  Baker Hughes Production  Tools,  Inc.; and Baker
Hughes  Incorporated  alleging that the defendants had  intentionally  failed to
provide the materials and services  ordered and paid for by the  Registrant  and
other parties in connection with the fracturing and acidizing of 523 wells,  and
then  fraudulently  concealed the shorting practice from PPDLP. The May 25, 1993
settlement  agreement  called  for a  payment  of  $115  million  in cash by the
defendants,  and Southmark, the Registrant, and the other plaintiffs indemnified
the defendants against the claims of Jack N. Price. The managing general partner
received  the  funds,  deducted  incurred  legal  expenses,   accrued  interest,
determined  the  general  partner's  portion  of the  funds and  calculated  any
inter-partnership allocations.

On May 3, 1993,  Jack N. Price,  the  attorney  who  represented  Gary G. "Zeke"
Lancaster in the Federal  Court  lawsuit,  filed suit in State Court in Beaumont
against all of the plaintiff partnerships,  including the Registrant and others,
alleging his  entitlement to 12% of the  settlement  proceeds.  Price's  lawsuit
claim for  approximately  $13.8 million is  predicated  on a purported  contract
entered  into with  Southmark  Corporation  in August 1988 in which he allegedly
binds the Registrant and the other  defendants,  as well as Southmark.  Although
PPDLP  believes the lawsuit was without  merit and has  vigorously  defended it,
PPDLP  has held in  reserve  approximately  12.5% of the total  settlement  (the
"Reserve") pending final resolution of the litigation.

A distribution of $91,000,000 was made to the working interest owners, including
the  Registrant,   on  July  30,  1993.  The  limited  partners  received  their
distribution  of $8,512,603,  or $438.00 per limited  partnership  interest,  in
September 1993. The allocation of the lawsuit settlement amount was based on the
original  verdict  entered on October 26, 1990.  The  allocation  to the working
interest  owners in each well (including the Registrant) was based on a ratio of
the relative  amount of damages due to  overcharges  for services and  materials
("Materials") and damages for loss of past and future production ("Production"),
each as determined in that initial judgment. Within the Registrant,  damages for
Materials  were allocated  between the partners based on their original  sharing

                                       10

<PAGE>



percentages for costs of acquiring and/or drilling of wells. Similarly,  damages
related to Production were allocated to the partners in the Registrant  based on
their respective share of revenues from the subject wells.

As a condition  of the purchase by Parker & Parsley  Petroleum  Company of PPDC,
which was merged  into PPDLP on January 1, 1995,  from its former  parent in May
1989,  PPDC's interest in the lawsuit and subsequent  settlement was retained by
the former parent.  Consequently,  all of PPDC's share of the settlement related
to its separately held interests in the wells and its  partnership  interests in
the sponsored  partnerships (except that portion allocable to interests acquired
by PPDC after May 1989) was paid to the former parent.

On September  20,  1995,  the Beaumont  trial judge  entered a summary  judgment
against Southmark for the $13,790,000  contingent fee sought by Price,  together
with prejudgment  interest,  and also awarded Price an additional  $5,498,525 in
attorneys'  fees. On January 22, 1996, the trial judge entered an  interlocutory
summary judgment  against Dresser  Industries and Baker Hughes for an amount yet
to be  determined.  Pursuant to their  indemnity  obligations,  the  Registrant,
Southmark,  PPDLP and other original  plaintiffs have  vigorously  protected the
rights of both Dresser and Baker Hughes.  Southmark has  vigorously  pursued its
appeal of the judgment,  and has posted a supersedeas  bond using the Reserve as
collateral. On April 29, 1996, all of the parties,  including the Registrant and
Southmark,  entered  into a $7.4 million  settlement  with Price which fully and
finally  resolves  all of the  litigation  and  disputes  between  the  parties,
including the Registrant's indemnity obligations to Dresser and Baker Hughes.

Pursuant to the settlement agreement,  all of the pending lawsuits and judgments
have been dismissed,  the supersedeas bond released, and the Reserve released as
collateral.  On June 28,  1996,  a final  distribution  was made to the  working
interest owners,  including $825,594, or $42.48 per limited partnership interest
to the Registrant and its partners.

Three months ended September 30, 1996 compared with three months ended September
  30, 1995

Revenues:

The  Registrant's  oil and gas revenues  increased to $470,808 from $384,146 for
the three months ended September 30, 1996 and 1995, respectively, an increase of
23%. The increase in revenues  resulted from higher average prices  received per
barrel of oil and mcf of gas,  offset by a 4% decline in barrels of oil produced
and sold and an 11%  decline  in mcf of gas  produced  and  sold.  For the three
months ended  September  30, 1996,  16,130  barrels of oil were sold compared to
16,842 for the same  period in 1995,  a decrease of 712  barrels.  For the three
months ended September 30, 1996,  61,417 mcf of gas were sold compared to 68,860
for the same period in 1995, a decrease of 7,443 mcf. The decrease in production
volumes was primarily due to the decline characteristics of the Registrant's oil
and gas properties.

The average  price  received per barrel of oil  increased  $5.14,  or 31%,  from
$16.57 for the three months ended  September 30, 1995 compared to $21.71 for the
same period in 1996,  while the average price  received per mcf of gas increased
28% from $1.53  during the three  months  ended  September  30, 1995 to $1.96 in
1996.
                                       11

<PAGE>



A gain on abandoned  property of $16,355 was recognized  during the three months
ended  September  30, 1995,  resulting  from proceeds  received  from  equipment
salvage on the abandonment of one fully depleted  property.  Abandoned  property
costs of $12,039  were  incurred on one well  abandoned  during the three months
ended September 30, 1995. There was no abandonment  activity for the same period
ended September 30, 1996.

Costs and Expenses:

Total costs and  expenses  decreased  to  $312,936  for the three  months  ended
September  30,  1996 as compared  to  $402,365  for the same  period in 1995,  a
decrease of $89,429,  or 22%.  This  decrease was due to declines in  production
costs, abandoned property costs and depletion, offset by an increase in G&A.

Production costs were $223,011 for the three months ended September 30, 1996 and
$225,682  for the same  period  in 1995,  resulting  in a $2,671  decrease.  The
decrease was due to a decline in well repair and maintenance costs, offset by an
increase in ad valorem taxes and production taxes.

G&A's  components are  independent  accounting and  engineering  fees,  computer
services,  postage and managing  general partner  personnel  costs.  During this
period, G&A increased, in aggregate, 10% from $13,786 for the three months ended
September 30, 1995 to $15,232 for the same period in 1996.

Depletion was $74,693 for the three months ended  September 30, 1996 compared to
$150,858  for the same period in 1995,  representing  a decrease of $76,165,  or
50%,  primarily  attributable to the following  factors:  (i) a reduction in the
Registrant's net depletable basis from charges taken in accordance with FAS 121,
(ii) a reduction  in oil  production  of 712 barrels for the three  months ended
September 30, 1996 as compared to the same period in 1995, and (iii) an increase
in oil and gas reserves  during the third  quarter of 1996 as a result of higher
commodity prices.

Liquidity and Capital Resources

Net Cash Provided by Operating Activities

Net cash provided by operating  activities  increased $1,159,065 during the nine
months  ended  September  30,  1996  from the same  period  ended in 1995.  This
increase  was  primarily  due to the  receipt of  proceeds  from the  litigation
settlement as discussed in Note 3 and an increase in oil and gas sales receipts.

Net Cash Provided by (Used in) Investing Activities

The Registrant's investing activities during the nine months ended September 30,
1996 and 1995 were related to expenditures for equipment  replacement on various
oil and gas properties.

Proceeds of $16,355  were  received  from the salvage of  equipment  on one well
abandoned during the nine months ended September 30, 1995.

                                       12

<PAGE>



Net Cash Used in Financing Activities

Cash was  sufficient  for the nine  months  ended  September  30,  1996 to cover
distributions  to the partners of $1,633,743 of which $1,253,140 was distributed
to the limited  partners  and  $380,603 to the  general  partners.  For the same
period ended  September 30, 1995, cash was sufficient for  distributions  to the
partners of $467,685 of which $350,431 was  distributed to the limited  partners
and $117,254 to the general partners.

Cash  distributions  to the  partners of  $1,633,743  for the nine months  ended
September 30, 1996 included $825,594 to the limited partners and $229,759 to the
general partners,  resulting from proceeds received in the litigation settlement
as discussed in Note 3.

It is expected  that future net cash  provided by operating  activities  will be
sufficient for any capital expenditures and any distributions. As the production
from the properties declines, distributions are also expected to decrease.

---------------

(1)    "Item 2. Management's  Discussion and Analysis of Financial Condition and
       Results of Operations"  contains forward looking  statements that involve
       risks and uncertainties. Accordingly, no assurances can be given that the
       actual  events and  results  will not be  materially  different  than the
       anticipated results described in the forward looking statements.


                           Part II. Other Information

Item 1.     Legal Proceedings

During  April  1996,  the  Registrant  completed  the  settlement  of a material
litigation to which it was a party.  This  litigation and settlement  thereof is
described in Note 3 of Notes to Financial Statements above.

                                       13

<PAGE>


                           PARKER & PARSLEY 84-A, LTD.
                          (A Texas Limited Partnership)



                               S I G N A T U R E S



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


                                      PARKER & PARSLEY 84-A, LTD.

                               By:    Parker & Parsley Development L.P.,
                                       Managing General Partner

                                      By:   Parker & Parsley Petroleum USA, Inc.
                                             ("PPUSA"), General Partner




Dated:  November 12, 1996      By:    /s/ Steven L. Beal
                                      ------------------
                                      Steven L. Beal, Senior Vice President
                                        and Chief Financial Officer of PPUSA



                                       14

<PAGE>