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, 2010





or





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





For
the Transition Period from ________ to ________





Commission
File Number: 333-122935-01







REEF
GLOBAL ENERGY VI, L.P.


(Exact
name of registrant as specified in its charter)


Nevada
              20-3170768(State
      or other jurisdiction of
              (I.R.S.
      employerincorporation
      or organization)
              identification
      no.)1901
      N. Central Expressway, Suite 300
              75080-3610Richardson,
      Texas
              (Zip
      code)(Address
      of principal executive offices)





(972)-437-6792


Registrant’s
telephone number, including area code





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   ̈





Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this
chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files). Yes  ̈ No  ̈





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act.





Large
      accelerated filer  ̈
              Accelerated
      filer  ̈
              Non-accelerated
      filer  ̈
              Smaller
      reporting company x





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes  ̈     No x





As of
November 15, 2010, the registrant had 75.363 units of general partner interest
held by the managing general partner, and 1,431.897 units of limited partner
interest outstanding.










Reef
Global Energy VI, L.P.


Form
10-Q Index





PART
      I — FINANCIAL INFORMATIONITEM
      1.
                            Financial
      Statements (Unaudited)
                            
                            1Condensed
      Balance Sheets
                            
                            1Condensed
      Statements of Operations
                            
                            2Condensed
      Statements of Cash Flows
                            
                            3Notes
      to Condensed Financial Statements
                            
                            4ITEM
      2.
                            Management’s
      Discussion and Analysis of Financial Condition and Results of
      Operations
                            
                            7ITEM
      3.
                            Quantitative
      and Qualitative Disclosures About Market Risk
                            
                            13ITEM
      4T.
                            Controls
      and Procedures
                            
                            13PART
      II — OTHER INFORMATIONITEM
      1.
                            Legal
      Proceedings
                            
                            13ITEM
      1A.
                            Risk
      Factors
                            
                            13ITEM
      2.
                            Unregistered
      Sales of Equity Securities and Use of Proceeds
                            
                            13ITEM
      3.
                            Default
      Upon Senior Securities
                            
                            13ITEM
      4.
                            (Removed
      and Reserved)
                            
                            13ITEM
      5.
                            Other
      Information
                            
                            14ITEM
      6.
                            Exhibits
                            
                            14Signatures




i


PART
I - FINANCIAL INFORMATION





Item
1. Financial Statements





Reef
Global Energy VI, L.P.


Condensed
Balance Sheets





September 30,
                  2010
                
                
                December 31,
                  2009(unaudited)AssetsCurrent
      assets:Cash
      and cash equivalents
                
                $
                171,270
                
                
                $
                165,715Accounts
      receivable
                
                
                10,647
                
                
                
                22,680Accounts
      receivable from affiliates
                
                
                636,093
                
                
                
                731,390Total
      current assets
                
                
                818,010
                
                
                
                919,785Oil
      and gas properties, full cost method of accounting:Proved
      properties, net of accumulated depletion of $31,348,600 and
      $29,938,389
                
                
                2,238,508
                
                
                
                3,600,860Net
      oil and gas properties
                
                
                2,238,508
                
                
                
                3,600,860Total
      Assets
                
                $
                3,056,518
                
                
                $
                4,520,645Liabilities
      and partnership equityCurrent
      liabilities:Accounts
      payable
                
                $
                37,589
                
                
                $
                103,031Total
      current liabilities
                
                
                37,589
                
                
                
                103,031Long-term
      liabilities:Asset
      retirement obligation
                
                
                426,903
                
                
                
                393,393Total
      long-term liabilities
                
                
                426,903
                
                
                
                393,393Partnership
      equityLimited
      partners
                
                
                2,324,027
                
                
                
                3,671,070Managing
      general partner
                
                
                267,999
                
                
                
                353,151Partnership
      equity
                
                
                2,592,026
                
                
                
                4,024,221Total
      liabilities and partnership equity
                
                $
                3,056,518
                
                
                $
                4,520,645


See
accompanying notes to condensed financial statements
(unaudited).


1





Reef
Global Energy VI, L.P.


Condensed
Statements of Operations


(Unaudited)





For the three months ended
                    September 30,
                  
                  
                  For the nine months ended
                    September 30,2010
                  
                  
                  2009
                  
                  
                  2010
                  
                  
                  2009Revenues
                  
                  $
                  1,049,635
                  
                  
                  $
                  1,069,597
                  
                  
                  $
                  3,393,779
                  
                  
                  $
                  3,497,689Costs
      and expenses:Lease
      operating expenses
                  
                  
                  113,798
                  
                  
                  
                  137,433
                  
                  
                  
                  336,293
                  
                  
                  
                  561,384Production
      taxes
                  
                  
                  81,871
                  
                  
                  
                  49,453
                  
                  
                  
                  32,272
                  
                  
                  
                  232,777Depreciation,
      depletion and amortization
                  
                  
                  451,452
                  
                  
                  
                  469,914
                  
                  
                  
                  1,475,542
                  
                  
                  
                  1,799,775Property
      impairment
                  
                  
                  —
                  
                  
                  
                  709,017
                  
                  
                  
                  —
                  
                  
                  
                  3,126,350Accretion
      of asset retirement obligation
                  
                  
                  3,498
                  
                  
                  
                  4,917
                  
                  
                  
                  65,347
                  
                  
                  
                  17,309General
      and administrative
                  
                  
                  121,969
                  
                  
                  
                  158,155
                  
                  
                  
                  497,708
                  
                  
                  
                  542,971Total
      costs and expenses
                  
                  
                  772,588
                  
                  
                  
                  1,528,889
                  
                  
                  
                  2,407,162
                  
                  
                  
                  6,280,566Income
      (loss) from operations
                  
                  
                  277,047
                  
                  
                  
                  (459,292
                  )
                  
                  
                  986,617
                  
                  
                  
                  (2,782,877
                  )Other
      income:Interest
      income
                  
                  
                  142
                  
                  
                  
                  282
                  
                  
                  
                  493
                  
                  
                  
                  2,869Total
      other income
                  
                  
                  142
                  
                  
                  
                  282
                  
                  
                  
                  493
                  
                  
                  
                  2,869Net
      income (loss)
                  
                  $
                  277,189
                  
                  
                  $
                  (459,010
                  )
                  
                  $
                  987,110
                  
                  
                  $
                  (2,780,008
                  )Net
      income (loss) per limited partner unit
                  
                  $
                  134.60
                  
                  
                  $
                  (348.56
                  )
                  
                  $
                  487.80
                  
                  
                  $
                  (1,965.88
                  )Net
      income  per managing general partner unit
                  
                  $
                  1,120.70
                  
                  
                  $
                  532.05
                  
                  
                  $
                  3,829.88
                  
                  
                  $
                  463.46





See
accompanying notes to condensed financial statements
(unaudited).


2


Reef
Global Energy VI, L.P.


Condensed
Statements of Cash Flows


(Unaudited)





For the nine months ended
                  September 30,2010
                
                
                2009Operating
      ActivitiesNet
      income (loss)
                
                $
                987,110
                
                
                $
                (2,780,008
                )Adjustments
      to reconcile net income (loss) to net cash
                  provided
      by operating activities:Plugging
      and abandonment costs paid from asset retirement
obligation
                
                
                (30,964
                )
                
                
                (2,867
                )Adjustments
      for non-cash transactions:Depreciation,
      depletion and amortization
                
                
                1,475,542
                
                
                
                1,799,775Property
      impairment
                
                
                —
                
                
                
                3,126,350Accretion
      of asset retirement obligation
                
                
                65,347
                
                
                
                17,309Changes
      in operating assets and liabilities:Accounts
      receivable
                
                
                12,033
                
                
                
                (13,106
                )Accounts
      receivable from affiliates
                
                
                95,297
                
                
                
                (612,305
                )Accounts
      payable
                
                
                (65,442
                )
                
                
                117,459Accounts
      payable to affiliates
                
                
                —
                
                
                
                (144,789
                )Net
      cash provided by operating activities
                
                
                2,538,923
                
                
                
                1,507,818Investing
      ActivitiesProceeds
      from sale of property
                
                
                96,206
                
                
                
                —Property
      acquisition and development
                
                
                (210,269
                )
                
                
                (289,193
                )Net
      cash used in investing activities
                
                
                (114,063
                )
                
                
                (289,193
                )Financing
      ActivitiesPartner
      capital contributions
                
                
                —
                
                
                
                7,605Offering
      costs
                
                
                —
                
                
                
                (144,789
                )Partner
      distributions
                
                
                (2,419,305
                )
                
                
                (2,046,250
                )Net
      cash used in financing activities
                
                
                (2,419,305
                )
                
                
                (2,183,434
                )Net
      increase (decrease) in cash and cash equivalents
                
                
                5,555
                
                
                
                (964,809
                )Cash
      and cash equivalents at beginning of period
                
                
                165,715
                
                
                
                1,125,458Cash
      and cash equivalents at end of period
                
                $
                171,270
                
                
                $
                160,649Supplemental
      disclosure of non-cash investing transactionsAdjustment
      to asset retirement obligation
                
                $
                873
                
                
                $
                3,508





See
accompanying notes to condensed financial statements
(unaudited).


3





Reef
Global Energy VI, L.P.


Notes
to Condensed Financial Statements (unaudited)





1.
Organization and Basis of Presentation





The
financial statements of Reef Global Energy VI, L.P. (the “Partnership”) have
been prepared pursuant to the rules and regulations of the Securities and
Exchange Commission (the “SEC”). Certain information and footnote disclosure
normally included in annual financial statements prepared in accordance with
accounting principles generally accepted in the United States have been
condensed or omitted pursuant to those rules and regulations. We have recorded
all transactions and adjustments necessary to fairly present the financial
statements included in this Quarterly Report on Form 10-Q (this “Quarterly
Report”). The adjustments are normal and recurring. The following notes describe
only the material changes in accounting policies, account details, or financial
statement notes during the first nine months of 2010. Therefore, please read
these condensed financial statements and notes to condensed financial statements
together with the audited financial statements and notes to financial statements
contained in the Partnership’s Annual Report on Form 10-K for the period ended
December 31, 2009 (the “Annual Report”).





2.
Summary of Accounting Policies





Oil
and Gas Properties





The
Partnership follows the full cost method of accounting for oil and gas
properties. Under this method, all direct costs and certain indirect costs
associated with acquisition of properties and successful as well as unsuccessful
exploration and development activities are capitalized. Depreciation, depletion,
and amortization of capitalized oil and gas properties and estimated future
development costs, excluding unproved properties, are based on the
unit-of-production method using estimated proved reserves, as determined by
independent petroleum engineers.  For these purposes, proved natural
gas reserves are converted to equivalent barrels of crude oil at a rate of 6 Mcf
to 1 Bbl.





In
applying the full cost method at September 30, 2010, the Partnership performs a
quarterly ceiling test on the capitalized costs of oil and gas properties,
whereby the capitalized costs of oil and gas properties are limited to
the  sum of the estimated future net revenues from proved reserves
using prices that are the 12-month un-weighted arithmetic average of the
first-day-of-the-month price for crude oil and natural gas held constant and
discounted at 10%, plus the lower of cost or estimated fair value of unproved
properties, if any. If capitalized costs exceed the ceiling, an impairment loss
is recognized for the amount by which the capitalized costs exceed the ceiling,
and is shown as a reduction of oil and gas properties and as property impairment
expense on the Partnership’s statements of operations. No gain or loss is
recognized upon sale or disposition of oil and gas properties, unless such a
sale would significantly alter the rate of depletion and amortization. During
the three month periods ended September 30, 2010 and 2009, the Partnership
recognized $0 and $709,017 of property impairment expense of proved properties.
During the nine month periods ended September 30, 2010 and 2009, the Partnership
recognized property impairment expense of proved properties totaling $0 and
$3,126,350, respectively.





Unproved
properties consist of undeveloped leasehold interest in the Sand Dunes prospect
(as discussed in Item 2 below). Investments in unproved properties are not
depleted pending determination of the existence of proved reserves. Unproved
properties are assessed for impairment quarterly as of the balance sheet date by
considering the primary lease term, the holding period of the properties,
geologic data obtained relating to the properties, and other drilling activity
in the immediate area of the properties. Any impairment resulting from this
quarterly assessment is reported as property impairment expense in the current
period, as appropriate. The Partnership fully impaired its unproved properties
during 2008 and has no plans to conduct any development operations on the
leasehold interest in the Sand Dunes prospect.





Estimates
of Proved Oil and Gas Reserves




Estimates
of the Partnership’s proved reserves at September 30, 2010 and December 31, 2009
have been prepared and presented in accordance with new SEC rules and accounting
standards. These new rules are effective for fiscal years ending on or after
December 31, 2009, and require SEC reporting entities to prepare their reserve
estimates using revised reserve definitions and revised pricing based upon the
un-weighted arithmetic average of the first-day-of-the-month commodity prices
over the preceding 12-month period and current costs. Future prices and costs
may be materially higher or lower than these prices and costs, which would
impact the estimate of reserves and future cash flows.


4


Reserves
and their relation to estimated future net cash flows impact the Partnership’s
depletion and impairment calculations. As a result, adjustments to depletion and
impairment are made concurrently with changes to reserve estimates. If proved
reserve estimates decline, the rate at which depletion expense is recorded
increases, reducing net income. A decline in estimated proved reserves and
future cash flows also reduces the capitalized cost ceiling and may result in
increased impairment expense.





Restoration,
Removal, and Environmental Liabilities





The
Partnership is subject to extensive Federal, state and local environmental laws
and regulations. These laws regulate the discharge of materials into the
environment and may require the Partnership to remove or mitigate the
environmental effects of the disposal or release of petroleum substances at
various sites. Environmental expenditures are expensed or capitalized depending
on their future economic benefit. Expenditures that relate to an existing
condition caused by past operations and that have no future economic benefit are
expensed.





Liabilities
for expenditures of a non-capital nature are recorded when environmental
assessments and/or remediation is probable, and the costs can be reasonably
estimated. Such liabilities are generally undiscounted values unless the timing
of cash payments for the liability or component is fixed or reliably
determinable.





Asset
retirement costs and liabilities associated with future site restoration and
abandonment of long-lived assets are initially measured at fair value, which
approximates the cost a third party would incur in performing the tasks
necessary to retire such assets. The fair value is recognized in the financial
statements as the present value of expected future cash expenditures for site
restoration and abandonment. Subsequent to the initial measurement, the effect
of the passage of time on the liability for the net asset retirement obligation
(accretion expense) and the amortization of the asset retirement cost are
recognized in the results of operations.





The
following table summarizes the Partnership’s asset retirement obligation for the
nine months ended September 30, 2010 and the year ended December 31,
2009.





Nine months ended
                    September 30, 2010
                  
                  
                  Year Ended
                    December 31, 2009Beginning
      asset retirement obligation
                  
                  $
                  393,393
                  
                  
                  $
                  386,346Accretion
      expense
                  
                  
                  65,347
                  
                  
                  
                  22,310Retirement
      related to property sale
                  
                  
                  (873
                  )
                  
                  
                  —Retirement
      related to property       abandonment
      and restoration
                  
                  
                  (30,964
                  )
                  
                  
                  (15,263
                  )Ending
      asset retirement obligation
                  
                  $
                  426,903
                  
                  
                  $
                  393,393





Fair
Value of Financial Instruments





The
estimated fair values for financial instruments have been determined at discrete
points in time based on relevant market information. These estimates involve
uncertainties and cannot be determined with precision. The estimated fair
value of cash, accounts receivable and accounts payable approximates their
carrying value due to their short-term nature.


5


Recently
Adopted Accounting Pronouncements





Modernization
of Oil and Gas Reporting





In
January 2009, the SEC adopted a new rule related to modernizing reserve
calculation and disclosure requirements for oil and gas companies, which became
effective prospectively for annual reporting periods ending on or after December
31, 2009. In addition to expanding the definition and disclosure requirements
for crude oil and natural gas reserves, the new rule changes the requirements
for determining quantities of crude oil and natural gas reserves. The new rule
requires disclosure of crude oil and natural gas proved reserves by geographical
area, using the unweighted arithmetic average of first-day-of-the-month
commodity prices over the preceding 12-month period, rather than end-of-period
prices, and allows the use of reliable technologies to estimate proved crude oil
and natural gas reserves, if those technologies have been demonstrated to result
in reliable conclusions about reserve volumes.  In addition, in
January 2010, the Financial Accounting Standards Board (“FASB”) issued guidance
relating to crude oil and natural gas reserve estimation and disclosures to
provide consistency with the new SEC rules.  The Partnership adopted
the new standards effective December 31, 2009.  The new standards are
applied prospectively as a change in estimate. In April 2010, the FASB issued a
further accounting standards update regarding extractive oil and gas industries
to incorporate in accounting standards the revisions to Rule 4-10 of the SEC’s
Regulation S-X. The amendment primarily consists of the addition and deletion of
definitions of terms related to fossil fuel exploration and production arising
from technology changes over the past several decades. The accounting guidance
in Rule 4-10 did not change.





Fair
Value Measurements





In
January 2010, the FASB issued new guidance related to improving disclosures
about fair value measurements. This guidance requires separate disclosures of
the amounts of transfers in and out of Level 1 and Level 2 fair value
measurements and a description of the reason for such transfers. In the
reconciliation for Level 3 fair value measurements using significant
unobservable inputs, information about purchases, sales, issuances and
settlements shall be presented separately. These disclosures are required for
interim and annual reporting periods effective January 1, 2010, except for
the disclosures related to the purchases, sales, issuances and settlements in
the roll forward activity of Level 3 fair value measurements, which are
effective on January 1, 2011. This guidance was adopted on January 1,
2010 for Level 1 and Level 2 fair value measurements and did not impact the
Partnership’s operating results, financial position or cash flows or disclosures
regarding the fair value of financial instruments.





3.
Transactions with Affiliates





The
Partnership has no employees. Reef Exploration, L.P. (“RELP”), an affiliate of
Reef Oil & Gas Partners, L.P. (“Reef”), the managing general partner of the
Partnership, employs a staff including geologists, petroleum engineers, landmen
and accounting personnel who administer all of the Partnership’s operations. The
Partnership reimburses RELP for technical and administrative services at cost.
During the three month periods ended September 30, 2010 and 2009, the
Partnership incurred technical services costs of $9,410 and $1,004,
respectively, and incurred administrative costs totaling $78,621 and $131,145,
respectively. During the nine month periods ended September 30, 2010 and 2009,
the Partnership incurred technical services costs of $14,268 and $1,004,
respectively, and incurred administrative costs totaling $320,963 and $430,522,
respectively.  Technical services costs are capitalized as project
costs on the condensed balance sheets. Administrative costs are included as
general and administrative expenses on the condensed statements of
operations.





Reef
contributed 1% of all leasehold, drilling and completion costs when incurred
during the drilling and completion phases of Partnership
operations.  Reef contributed $316,361 in connection with this
obligation. In addition, Reef purchased 5% of the Partnership units and paid 5%
of the 99% of these costs paid by the unit holders (4.95%). Reef has had no
remaining obligations related to these additional costs since December 31,
2009.





RELP
processes joint interest billings and revenues on behalf of the Partnership. At
September 30, 2010 and December 31, 2009, RELP owed the Partnership $636,093 and
$731,390, respectively, for net revenues processed in excess of joint interest
and technical and administrative services charges. The cash associated with net
revenues processed by RELP is normally received by RELP from oil and gas
purchasers 30-60 days after the end of the month to which the revenues
pertain.





4.
Commitments and Contingencies





The
Partnership is not currently involved in any legal proceedings.


6


5.  Partnership
Equity





Information
regarding the number of units outstanding and the net income per type of
Partnership unit for the three and nine month periods ended September 30, 2010
is detailed below:





For the three months ended September
30, 2010





Type of Unit
                  
                  Number of
                    Units
                  
                  
                  Net income
                  
                  
                  Net income
                    per unitManaging
      general partner units
                  
                  
                  75.363
                  
                  
                  $
                  84,459
                  
                  
                  $
                  1,120.70Limited
      partner units
                  
                  
                  1,431.897
                  
                  
                  
                  192,730
                  
                  
                  $
                  134.60Total
                  
                  
                  1,507.260
                  
                  
                  $
                  277,189




For the nine months ended September 30,
2010





Type of Unit
                    
                    Number of
                      Units
                    
                    
                    Net income
                    
                    
                    Net income
                      perunitManaging
      general partner units
                    
                    
                    75.363
                    
                    
                    $
                    288,631
                    
                    
                    $
                    3,829.88Limited
      partner units
                    
                    
                    1,431.897
                    
                    
                    
                    698,479
                    
                    
                    $
                    487.80Total
                    
                    
                    1,507.260
                    
                    
                    $
                    987,110





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





The
following is a discussion of the Partnership’s financial condition, results of
operations, liquidity and capital resources. This discussion should be read in
conjunction with our financial statements and the related notes thereto,
included in the Annual Report.





This
Quarterly Report contains forward-looking statements that involve risks and
uncertainties.  You should exercise extreme caution with respect to all
forward-looking statements made in this Quarterly Report.  Specifically,
the following statements are forward-looking:





·
            statements
      regarding the state of the oil and gas industry and the opportunity to
      profit within the oil and gas industry, competition, pricing, level of
      production, or the regulations that may affect the
      Partnership;




·
            statements
      regarding the plans and objectives of Reef for future operations,
      including, without limitation, the uses of Partnership funds and the size
      and nature of the costs the Partnership expects to incur and people and
      services the Partnership may
employ;




·
            any
      statements using the words “anticipate,” “believe,” “estimate,” “expect”
      and similar such phrases or words;
and





·
            any
      statements of other than historical
fact.




Reef
believes that it is important to communicate its future expectations to the
partners.  Forward-looking statements reflect the current view of
management with respect to future events and are subject to numerous risks,
uncertainties and assumptions, including, without limitation, the risk factors
listed in the section captioned “RISK FACTORS” contained in the
Partnership’s Annual Report. Although Reef believes that the expectations
reflected in such forward-looking statements are reasonable, Reef can give no
assurance that such expectations will prove to have been correct.  Should
any one or more of these or other risks or uncertainties materialize or should
any underlying assumptions prove incorrect, actual results are likely to vary
materially from those described herein.  There can be no assurance that the
projected results will occur, that these judgments or assumptions will prove
correct or that unforeseen developments will not occur.


7


Reef does
not intend to update its forward-looking statements.  All subsequent
written and oral forward-looking statements attributable to Reef or persons
acting on its behalf are expressly qualified in their entirety by the applicable
cautionary statements.





Overview





Reef
Global Energy VI, L.P. is a Nevada limited partnership formed to acquire,
explore, develop and produce crude oil, natural gas, and natural gas liquids for
the benefit of its investor partners. The Partnership’s primary purposes are to
generate revenues from the production of crude oil and natural gas, distribute
cash flow to investors, and provide tax benefits to investors. The Partnership
purchased working interests in twenty developmental prospects. The Partnership
participated in the drilling of eight successful developmental wells and eleven
unsuccessful developmental wells on nineteen of these twenty
prospects.  Five of these successful wells have ceased production, and
the Partnership sold its interest in one well during the third quarter of 2010.
The Partnership purchased a working interest in the Sand Dunes developmental
prospect in Eddy County, New Mexico, and has participated in the drilling of
eight developmental wells on this prospect (see below).





The
Partnership also purchased working interests in fourteen exploratory prospects,
and participated in the drilling of sixteen exploratory and eight developmental
wells on those prospects. The Partnership participated in the drilling of eight
successful exploratory wells, seven successful developmental wells, eight
unsuccessful exploratory wells, and one unsuccessful developmental well on these
fourteen prospects. Of the fifteen successful wells, four wells have ceased
production, and eleven are currently productive.





Subsequent
to completing its drilling phase of operations in the first quarter of 2008, the
Partnership has participated in drilling two additional wells on one of the
Partnership’s exploratory prospects located in Live Oak County, Texas. One of
these wells was successful and began production operations in November 2008, and
the second well was unsuccessful. These wells are included in the summaries of
wells in the preceding paragraphs. While there are currently no plans to drill
any additional wells, the Partnership is allowed to borrow funds in accordance
with the Partnership Agreement, or utilize cash flows from successful wells in
order to conduct further development upon prospects initially purchased by and
drilled upon by the Partnership during the drilling phase of
operations.





In
this Quarterly Report, we use the term “successful” to refer to wells that are
drilled, tested, and either capable of or actually producing in commercial
quantities. We use the term “unsuccessful” to refer to wells that do not meet
one or more of these criteria.





The
Partnership participated in the drilling of eight developmental wells on the
Sand Dunes prospect located in Eddy County, New Mexico during the fourth quarter
of 2007 and the first quarter of 2008. Initial testing confirmed the presence of
crude oil and natural gas in all eight wells. However, the field was temporarily
shut-in because of the lack of electric service and because of the high cost of
trucking offsite the salt water volumes associated with the production of the
crude oil and natural gas from the wells. Electrical service to the eight Sand
Dunes wells was connected in September 2008. Based upon initial testing, larger
bottom hole pumps were placed below the well perforations in three of the wells
and testing was resumed in late September 2008 to determine the three wells’
commercial productivity. Water continued to be trucked offsite, and RELP applied
for and received a permit which would allow for the conversion of one of the
existing eight Sand Dunes wells into a salt water disposal well. RELP also
explored the possibility of drilling a ninth well as a salt water disposal well
for the field. Testing results on two of the three wells were positive, and salt
water production volumes declined as a result of pumping off the wells using the
larger bottom hole pumps. However, the price of crude oil also declined at a
rapid rate while testing was being conducted. In late December 2008, two of the
three testing wells were shut-in again. Crude oil prices continued declining to
a level below $40 per barrel. In February 2009, following a mechanical failure
in the third testing well, RELP, as operator, shut-in the field. The eight wells
cannot be commercially productive without efficient salt water disposal
capabilities, and none of the options regarding salt water disposal were
economically viable at first quarter 2009 commodity prices. As a result, as of
December 31, 2008, the eight Sand Dunes wells were classified as
unsuccessful.


8


Beginning
with March 2009, oil prices increased from levels below $40 per barrel to
between $60 and $70 per barrel by the third quarter of 2009. As a result of this
increase in prices, in October 2009, Reef approved the conversion of one of the
eight wells on the Sand Dunes development prospect located in Eddy County, New
Mexico to a salt water disposal well. The conversion work on the well began in
March 2010 and was completed during April 2010.   Upon completion
of the disposal facilities, the new disposal well became operational during
August 2010. Based on updated testing performed on the disposal capacity of the
converted well, it is expected that all of the remaining seven Sand Dunes wells
will be able to be placed into production. During the third quarter of 2010,
five wells were placed back on full-time production.  The remaining
two Sand Dune wells are expected to be placed back in production during the
fourth quarter of 2010. The cost of the well conversion to this Partnership as
of September 30, 2010 was approximately $167,282. This cost was paid for by the
Partnership by retaining a portion of the funds normally paid out in
distributions to the partners. There are 5,564 BBL of crude oil and 8,745 Mcf of
natural gas reserves net to the Partnership’s interest for the five wells placed
on full time production during the third quarter of 2010.  Reserve
estimates may be increased if additional wells are able to be placed on
full-time production or if daily production rates increase.





The
Partnership also owns interests in unproved property consisting of un-drilled
leasehold interest (11 potential drilling locations) in the Sand Dunes prospect.
The Partnership fully impaired this unproved property during the fourth quarter
of 2008 based upon the eight already drilled Sand Dunes wells being classified
as unsuccessful at December 31, 2008. The Partnership currently has no plans to
conduct any drilling operations on this acreage.





Critical
Accounting Policies





There
have been no changes from the Critical Accounting Policies described in the
Annual Report.





Liquidity
and Capital Resources





The
Partnership was funded with initial capital contributions totaling $37,398,898.
Reef purchased 75.363 general partner units, or 5% of the total units sold, for
$1,601,464. Investor partners purchased 1,190.561 units of general partner
interest and 241.336 units of limited partner interest for $35,797,434. Reef
also contributed $316,361 in connection with its obligation to pay 1% of all
leasehold, drilling, and completion costs. Organization and offering costs
totaled $5,369,615, leaving capital contributions of $32,345,644 available for
Partnership activities. The Partnership expended $33,101,838 on prospect and
property acquisitions, drilling and completion costs in connection with its
participation in the drilling of forty-nine wells and expended $138,317 on
general and administrative expenses during its drilling and completion phase of
operations.  The Partnership has also expended $514,539 subsequent to
its drilling and completion phase of operations on the drilling of two
additional wells, the Sand Dunes well conversion, and other capital items.
Expenditures in excess of available Partnership capital have been recovered from
the cash flow from successful wells by reducing Partnership
distributions.  Any additional capital expenditures will also be
recovered from cash flow by reducing Partnership distributions. The Partnership
does not operate in any other industry segment, and operates solely in the
United States.





The
Partnership has working capital of $780,421 at September 30, 2010. Subsequent to
expending the initial available Partnership capital contributions on prospect
acquisitions and drilling and completion costs of Partnership wells, the
Partnership working capital consists primarily of cash flows from productive
properties utilized to pay cash distributions to investors.





Results
of Operations





The
following is a comparative discussion of the results of operations for the
periods indicated. It should be read in conjunction with the condensed financial
statements and the related notes to the condensed financial statements included
in this Quarterly Report.





The
following table provides information about sales volumes and crude oil and
natural gas prices for the periods indicated. Equivalent barrels of oil (“EBO”)
are computed by converting 6 Mcf of natural gas to 1 barrel of crude
oil.


9




For the three months
                    ended September 30,
                  
                  
                  For the nine months
                    ended September 30,2010
                  
                  
                  2009
                  
                  
                  2010
                  
                  
                  2009Sales
      volumes:Oil
      (Barrels)
                  
                  
                  8,817
                  
                  
                  
                  8,702
                  
                  
                  
                  25,755
                  
                  
                  
                  29,383Natural
      gas (Mcf)
                  
                  
                  95,093
                  
                  
                  
                  153,070
                  
                  
                  
                  316,882
                  
                  
                  
                  541,904Average
      sales prices received:Oil
      (Barrels)
                  
                  $
                  61.92
                  
                  
                  $
                  65.14
                  
                  
                  $
                  67.65
                  
                  
                  $
                  47.98Natural
      gas (Mcf)
                  
                  $
                  5.30
                  
                  
                  $
                  3.28
                  
                  
                  $
                  5.21
                  
                  
                  $
                  3.85





During
the third quarter of 2010, the Partnership sold its interest in the Van Dyke #5
well located in Pittsburg, Oklahoma, as it was included in a package of wells
sold by several Reef affiliates during the period. The Partnership had interests
in eighteen productive wells as of September 30, 2010, including the five Sand
Dunes wells placed into production during the third quarter of 2010, compared to
sixteen productive wells as of September 30, 2009. Overall, sales volumes
declined during the three month period ended September 30, 2010 compared to the
three month period ended September 30, 2009, primarily due to decreased volumes
from the HBR A Big Gas Unit  (“HBR A”) and from the ST 278L/279L #1
(“Dolphin B”) well located in the Gulf of Mexico, which ceased production in the
first quarter of 2010 and was plugged and abandoned during August 2010. The HBR
A well experienced a 59% decline in gas volumes from approximately 91,000 Mcf
during the three months ended September 30, 2009 to approximately 37,400 Mcf
during the three months ended September 30, 2010. These decreases were partially
offset by increased volumes from the Rob L RA SUA CL&F #1 (“Gumbo
II”).  The operator of the Gumbo II well slowly increased production
volumes from the well during the first seven months of 2010, resulting in
increased volumes for the three and nine month periods ended September 30,
2010.  Third quarter 2010 sales volumes from the Gumbo II well were
also higher than third quarter 2009 sales volumes because the well was shut-in
for thirteen days during the third quarter of 2009 due to issues with the oil
pipeline.  The Gumbo II well did produce at full production rates
during the third quarter of 2010.  Sales volumes from
the  two most significant wells in which the Partnership has an
interest, the Gumbo II and the HBR A, totaled 8,564 barrels of crude oil and
73,467 Mcf of natural gas, or 97.13% and 77.26% of sales volumes for the three
month period ended September 30, 2010, respectively. During the three month
period ended September 30, 2009, the Partnership’s sales volumes from these two
wells totaled 7,788 barrels of crude oil and 124,739 Mcf of natural gas, or
89.5% and 81.5% of the Partnership’s total sales volumes,
respectively.





Sales
prices for crude oil decreased by 4.94%, to an average price of $61.92 for the
three month period ended September 30, 2010, compared to an average price of
$65.14 for the three month period ended September 30, 2009. Sales prices for
natural gas rose by 61.6%, to an average price of $5.30 per Mcf during the three
month period ended September 20, 2010, compared to an average price of $3.28
received for during the three month period ended September 30, 2009. The
increase in gas prices was not enough to offset the decline in gas volumes, and
total sales revenues decreased by 1.87% for the three month period ended
September 30, 2010. The loss of production from the Dolphin B well, combined
with declining volumes from the HBR A well, will lead to continuing declines in
sales volumes in future quarters. The current estimated reserve life of the HBR
A well is estimated to be approximately 14 months using current prices and
costs. In addition, gas prices have decreased and it is expected that average
gas prices received during the fourth quarter will decline from third quarter
levels.





In
January 2009, the SEC adopted a new rule related to modernizing reserve
calculation and disclosure requirements for oil and gas companies, which became
effective prospectively for annual reporting periods ending on or after December
31, 2009.  In addition to expanding the definition and disclosure
requirements for crude oil and natural gas reserves, the new rule changes the
requirements for determining quantities of crude oil and natural gas reserves.
The new rule requires disclosure of crude oil and natural gas proved reserves by
significant geographic area, using the un-weighted arithmetic average of
first-day-of-the-month commodity prices over the preceding 12-month period,
rather than end-of-period prices, and allows the use of reliable technologies to
estimate proved crude oil and natural gas reserves, if those technologies have
been demonstrated to result in reliable conclusions about reserves volumes.
Reserve and related information for September 30, 2010 is presented consistent
with the requirements of the new rule. The new rule does not allow prior-year
reserve information to be restated, so all information related to September 30,
2009 is presented consistent with prior SEC rules for the estimation of proved
reserves. The effect of applying the new definition of reliable technology and
other non-price related aspects of the updated rules did not significantly
impact 2010 net proved reserve volumes.  All of the Partnership’s
reserves are located in the United States.


10


The
estimated net proved crude oil and natural gas reserves as of September 30, 2010
and 2009 are summarized below. The quantities of proved crude oil and natural
gas reserves discussed in this section include only the amounts which the
Partnership reasonably expects to recover in the future from known oil and gas
reservoirs under the current economic and operating conditions. Proved reserves
include only quantities that the Partnership expects to recover commercially
using current prices, costs, existing regulatory practices, and technology.
Therefore, any changes in future prices, costs, regulations, technology or other
unforeseen factors could materially increase or decrease the proved reserve
estimates.





Net proved reserves
                  
                  Oil (Bbl)
                  
                  
                  Gas (Mcf)September
      30, 2010
                  
                  
                  40,241
                  
                  
                  
                  453,266September
      30, 2009
                  
                  
                  65,818
                  
                  
                  
                  1,611,034





Three
months ended September 30, 2010 compared to the three months ended September 30,
2009





The
Partnership had net income of $277,189 for the three month period ended
September 30, 2010, compared to a net loss totaling $459,010 for the three month
period ended September 30, 2009. The primary cause of this increase in net
income is lower property impairment expenses, as discussed below.





Overall,
sales volumes declined during the three month period ended September 30, 2010
compared to the three month period ended September 30, 2009, primarily due to
decreased volumes from the HBR A well, which experienced a 59% decline in gas
volumes from approximately 91,000 Mcf during the three months ended September
30, 2009 to approximately 37,400 Mcf during the three months ended September 30,
2010, as well as from the Dolphin B well located in the Gulf of Mexico, which
ceased production in the first quarter of 2010 and was plugged and abandoned
during August 2010. The Partnership’s share of sales volumes from its two major
wells, the Gumbo II and the HBR A, totaled 8,564 barrels of crude oil and 73,467
Mcf of natural gas, or 97.13% and 77.26%, respectively, of the Partnership’s
third quarter 2010 volumes. During the third quarter of 2009, the Partnership’s
share of volumes from these two wells totaled 7,788 barrels of crude oil and
124,739 Mcf of natural gas, or 89.5% and 81.5%, respectively, of the
Partnership’s third quarter 2009 volumes. Crude oil sales prices decreased
slightly, by 4.94%, to an average price of $61.92 for the third quarter of 2010.
Sales prices for natural gas rose by 61.6%, to an average price of $5.30 per Mcf
this quarter, compared to an average price of $3.28 received for the third
quarter of 2009. The increase in average gas prices partially offset the decline
in volumes, and total sales revenues decreased by only 1.87% for the third
quarter of 2010.





Lease
operating costs decreased from $137,433 during the three months ended September
30, 2009 to $113,798 during the three months ended September 30, 2010. Expenses
related to the Dolphin B well decreased between the comparative periods as this
well was plugged and abandoned during August 2010.  In addition, gas
marketing expenses also decreased in conjunction with declining production
volumes. Operating costs are expected to increase during the fourth quarter as a
result of returning the Sand Dunes wells to production.  Production
taxes increased during the three month period ended September 30, 2010 compared
to the three month period ended September 30, 2009 due to the timing of an
adjustment received from the operator of the Gumbo II well.  The
operator stopped charging severance taxes during the third and fourth quarters
of 2009, and ultimately refunded prior production tax payments, because the well
obtained a severance tax exemption from the state of Louisiana for the period
from inception through February 2010.  This was a one time tax
adjustment.





The
Partnership incurred $709,017 of property impairment expense during the three
month period ended September 30, 2009 as a result of declining gas prices during
the third quarter of 2009, compared to no property impairment expense incurred
during the third quarter of 2010. Also, depletion expense declined from $469,914
for the three months ended September 30, 2009 to $451,452 for the three months
ended September 30, 2010, primarily because the 2009 impairment resulted in a
lower property basis for 2010.


11


General
and administrative costs decreased from $158,155 incurred during the three
months ended September 30, 2009 to $121,969 incurred during the three months
ended September 30, 2010, primarily due to decreased overhead charges from
RELP.  Since the beginning of the second quarter of 2009, RELP has
gradually reduced its total overhead costs by approximately 25%, and as such,
the total overhead charged to partnerships has decreased in 2010 from 2009
levels. The allocation of RELP’s overhead to partnerships is based upon several
factors, including the level of drilling activity, revenues, and capital and
operating expenditures of each partnership compared to the total levels of all
partnerships. Overall activity of this Partnership has begun to increase since
the Sand Dunes wells began to be placed back on line during the third quarter of
2010, but it is expected that total overhead for 2010 will decline from 2009
levels. The administrative overhead charge to the Partnership decreased from
$129,260 for the three months ended September 30, 2009 to $78,049 for the three
months ended September 30, 2010.





Nine
months ended September 30, 2010 compared to the nine months ended September 30,
2009





The
Partnership had net income of $987,110 for the nine month period ended September
30, 2010, compared to a net loss of $2,780,008 for the nine month period ended
September 30, 2009. The primary cause of this increase in net income is lower
property impairment expenses, as discussed below.





Gas sales
volumes declined 41.5% during the first nine months of 2010 compared to the
first nine months of 2009, and oil sales volumes declined by 12.3%. The HBR A
well experienced a 50% decline in gas volumes and a 57% decline in oil volumes
from 2009 production levels. The Dolphin B well ceased production in the first
quarter of 2010, and therefore had no production during the second and third
quarters of 2010. The Dolphin B well had been one of the three most significant
wells in which the Partnership had an interest. The Partnership’s share of sales
volumes from its three major wells, the Dolphin B, the Gumbo II and the HBR A,
totaled 24,048 barrels of crude oil and 235,174 Mcf of natural gas, or 93.4% and
74.2%, respectively, of the Partnership’s volumes for the first nine months of
2010. During the first nine months of 2009, the Partnership’s share of volumes
from these three wells totaled 25,582 barrels of crude oil and 431,516 Mcf of
natural gas, or 87.1% and 79.6%, respectively, of the Partnership’s
volumes.  Sales prices for crude oil rose by 41%, to an average price
of $67.65 for the first nine months of 2010. Sales prices for natural gas rose
by 35.3% to an average price of $5.21 per Mcf, compared to an average price of
$3.85 received for the nine months of 2009. The increase in average prices was
not enough to offset the decline in volumes, and total sales revenues decreased
by 2.97% for the first nine months of 2010.





Lease
operating costs decreased from $561,384 during the nine month period ended
September 30, 2009 to $336,293 during the nine month period ended September 30,
2010. Expenses related to the Dolphin B, Ewald #1, and Long Ranch 73 #4 wells
decreased by approximately $66,000 in total between the comparable
periods.  These three wells were all plugged and abandoned or awaiting
plugging and abandonment by the fourth quarter of 2009.  Lease
operating costs for the Gumbo II well decreased by approximately $60,000 during
the nine months ended September 30, 2010 compared to the nine months ended
September 30, 2009.  Gas marketing expenses have also decreased in
conjunction with declining gas volumes.   Production taxes
decreased during the nine month period ended September 30, 2010 compared to the
nine month period ended September 30, 2009 due to an approximate $174,000
adjustment received from the operator of the Gumbo II well. The operator
refunded prior production tax payments because the well obtained a severance tax
exemption from the state of Louisiana for the period from inception through
February 2010. This was a one time tax adjustment.





The
Partnership incurred $3,126,350 of property impairment expense during the nine
month period ended September 30, 2009 as a result of declining oil prices during
the first quarter of 2009, and declining gas prices during the third quarter of
2009, compared to no property impairment expense during the nine month period
ended September 30, 2010.  Depletion expense declined from $1,799,775
for the first nine months of 2009 to $1,475,542 for the first nine months of
2010, primarily because the 2009 impairment resulted in a lower property basis
for 2010.





General
and administrative costs decreased from $542,971 incurred during the nine months
ended September 30, 2009 to $497,708 incurred during the nine months ended
September 30, 2010, primarily due to decreased overhead charges from RELP. Since
the beginning of the second quarter of 2009, RELP has gradually reduced its
total overhead costs by approximately 25%, and as such, the total overhead
charged to partnerships has decreased in 2010 from 2009 levels. The allocation
of RELP’s overhead to partnerships is based upon several factors, including the
level of drilling activity, revenues, and capital and operating expenditures of
each partnership compared to the total levels of all partnerships. Overall
activity of this Partnership has begun to increase since the Sand Dunes wells
began to be placed back on line during the third quarter of 2010, but it is
expected that total overhead for 2010 will decline from 2009 levels. The
administrative overhead charge to the Partnership decreased from $415,611 for
the nine months ended September 30, 2009 to $304,696 for the nine months ended
September 30, 2010.  This decrease was partially offset by increased
professional fees.


12


Item
3. Quantitative and Qualitative Disclosures About Market Risk





The
Partnership is a “smaller reporting company” as defined by Rule 12b-2
promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and as such, is not required to provide the information required under
this Item.





Item
4T. Controls and Procedures





Evaluation
of Disclosure Controls and Procedures





As the
managing general partner of the Partnership, Reef maintains a system of controls
and procedures designed to provide reasonable assurance as to the reliability of
the financial statements and other disclosures included in this report, as well
as to safeguard assets from unauthorized use or disposition. The Partnership,
under the supervision and with participation of its management, including the
principal executive officer and principal financial officer, evaluated the
effectiveness of the design and operation of its “disclosure controls and
procedures” as such term is defined in Rule 13a-15(e) promulgated under the
Exchange Act, as of the end of the period covered by this Quarterly Report.
Based on that evaluation, the principal executive officer and principal
financial officer have concluded that the Partnership’s disclosure controls and
procedures are effective to ensure that information required to be disclosed by
the Partnership in reports that it files or submits under the Exchange Act is
recorded, processed, summarized, and reported within the time periods specified
in SEC rules and forms, and includes controls and procedures designed to ensure
that information required to be disclosed by us in such reports is accumulated
and communicated to our management, including the principal executive officer
and principal financial officer, as appropriate to allow timely decisions
regarding financial disclosure.





Changes
in Internal Controls





There
have not been any changes in the Partnership’s internal controls over financial
reporting during the fiscal quarter ended September 30, 2010 that have
materially affected, or are reasonably likely to materially affect, the
Partnership’s internal control over financial reporting.





PART
II – OTHER INFORMATION





Item
1.  Legal Proceedings




Stevenson v. Wayne
Kirk, Michael J. Mauceli, Reef Global Energy Ventures II


Item
1A.  Risk Factors





There
were no material changes in the Risk Factors applicable to the Partnership as
set forth in the Annual Report.





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





None.





Item
3.  Default Upon Senior Securities





None.





Item
4.  (Removed and Reserved)


13


Item
5.  Other Information





None.





Item
6.  Exhibits





Exhibits31.1
                
                Certification
      of Principal Executive Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.31.2
                
                Certification
      of Principal Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.32.1
                
                Certification
      of the Principal Executive Officer pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002.32.2
                
                Certification
      of the Principal Financial Officer pursuant to Section 906 of the
      Sarbanes-Oxley Act of
2002.




14


SIGNATURES





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





REEF
      GLOBAL ENERGY VI, L.P.By:
                  Reef
      Oil & Gas Partners, L.P.Managing
      General PartnerBy:
                  Reef
      Oil & Gas Partners, GP, LLC,its
      general partnerDated:    November
      15, 2010
                  By:
                  /s/
      Michael J. MauceliMichael
      J. MauceliManager
      and Member(Principal
      Executive Officer)Dated:    November
      15, 2010
                  By:
                  /s/
      Daniel C. SibleyDaniel
      C. SibleyChief
      Financial Officer and General Counsel ofReef
      Exploration, L.P.(Principal
      Financial and Accounting
Officer)





EXHIBIT
INDEX





Exhibits31.1
                
                Certification
      of Principal Executive Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.31.2
                
                Certification
      of Principal Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.32.1
                
                Certification
      of the Principal Executive Officer pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002.32.2
                
                Certification
      of the Principal Financial Officer pursuant to Section 906 of the
      Sarbanes-Oxley Act of
2002.