CONFORMED COPY





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

                                 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 and Exchange Act of 1934
                    For the period ended September 30, 1996

                                      or

           [ ] Transition Report Pursuant to Section 13 of 15(d) of 
                   the Securities and Exchange Act of  1934
               For the transition period from         to        


                                                  

                       Commission file number 033-43206

               I.R.S. Employer Identification Number 55-0718529

                        PDC 1992-C LIMITED PARTNERSHIP

                     (A West Virginia Limited Partnership)
                             103 East Main Street
                             Bridgeport, WV 26330
                           Telephone: (304) 842-6256

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     XX       No         

<PAGE>
                        PDC 1992-C LIMITED PARTNERSHIP
                     (A West Virginia Limited Partnership)


                                     INDEX



PART I - FINANCIAL INFORMATION                                    Page No.

  Item 1.  Financial Statements

           Balance Sheets September 30, 1996 and December 31, 1995     1

           Statements of Operations - Three Months and 
            Nine Months Ended September 30, 1996 and 1995              2

           Statement of Partners' Equity - 
            Nine Months Ended September 30, 1996                       3

           Statements of Cash Flows -  
            Nine Months Ended September 30, 1996 and 1995              4

           Notes to Financial Statements                               5

  Item 2.  Management's Discussion and Analysis of Financial 
           Condition and Results of Operations                         6

PART II    OTHER INFORMATION

  Item 1.  Legal Proceedings                                           7

  Item 6.  Exhibits and Reports on Form 8-K                            7












<PAGE>
                        PDC 1992-C LIMITED PARTNERSHIP
                     (A West Virginia Limited Partnership)

                                Balance Sheets

                   September 30, 1996 and December 31, 1995


<TABLE>
<S>                                                     <S>             <S>

      Assets
                                                        1996           1995 
                                                   (Unaudited)

Current assets:
      Cash                                          $      698    $    1,749
      Accounts receivable - oil and gas revenues       177,571       165,296
                    Total current assets               178,269       167,045

Oil and gas properties, successful efforts method
      Oil and gas properties                         6,033,071     6,033,071
      Less accumulated depreciation, depletion
        and amortization                             1,834,339     1,506,234
                                                     4,198,732     4,526,837

Other assets (net of amortization of $24,411 and
      $19,737)                                           6,757        11,431

                                                    $4,383,758    $4,705,313

      Current Liabilities and Partners' Equity

Current liabilities:    
      Accrued expenses                              $   13,547    $   33,366
                    Total current liabilities           13,547        33,366


Partners' Equity                                     4,370,211     4,671,947

                                                    $4,383,758    $4,705,313
</TABLE>
See accompanying notes to financial statements.










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<PAGE>
                            PDC 1992-C LIMITED PARTNERSHIP
                         (A West Virginia Limited Partnership)

                               Statements of Operations

            Three Months and Nine Months ended September 30, 1996 and 1995
                                      (Unaudited)
<TABLE>
<S>                                          <S>           <S>            <S>       <S>

                                             Three Months Ended       Nine Months Ended   
                                               September 30,             September 30,    
                                            1996         1995          1996         1995  


Revenues:
  Sales of oil and gas                    $222,409    $146,801      $829,410     $534,206 
  Transportation revenue                     8,167       8,531        22,605       27,341 
  Interest income                              574         840         2,004        2,409 
                                           231,150     156,172       854,019      563,956 

Expenses:
  Lifting costs                             59,449      44,735       172,203      142,673 
  Direct administrative cost                    28          37           369          121 
  Depreciation, depletion and amortization  93,204      43,035       332,779      334,624 
                                           152,681      87,807       505,351      477,418 

     Net income                           $ 78,469    $ 68,365      $348,668     $ 86,538 

     Net income per limited and
      additional general partner unit     $    179    $    163      $    827     $    133 

</TABLE>
See accompanying notes to financial statements.



















                                            -2-
<PAGE>
                              PDC 1992-C LIMITED PARTNERSHIP
                           (A West Virginia Limited Partnership)

                               Statement of Partners' Equity

                           Nine Months ended September 30, 1996
                                        (Unaudited)


<TABLE>
<S>                                         <S>             <S>               <S>

                                    Limited and                                   
                                    additional       Managing                     
                                    general partners general partner       Total  

Balance, December 31, 1995             $4,202,020       $  469,927     $4,671,947 
Distributions to partners                (538,282)        (112,122)      (650,404)
Net income                                264,052           84,616        348,668 

          Balance, September 30, 1996  $3,927,790       $  442,421     $4,370,211 

</TABLE>
See accompanying notes to financial statements.























                                            -3-<PAGE>
                              PDC 1992-C LIMITED PARTNERSHIP
                           (A West Virginia Limited Partnership)

                                 Statements of Cash Flows

                       Nine Months ended September 30, 1996 and 1995
                                        (Unaudited)
<TABLE>
<S>                                                              <S>         <S>
                                                               1996         1995  
Cash flows from operating activities:
          Net income                                        $ 348,668   $  86,538 
          Adjustments to reconcile net income to net cash
            provided by operating activities:
              Depreciation, depletion and amortization        332,779     334,624 
              Changes in operating assets and liabilities:
              (Increase) decrease in accounts receivable -
                oil and gas revenues                          (12,275)     37,454 
              Decrease in accrued expenses                    (19,819)    (23,056)
                  Net cash provided from
                   operating activities                       649,353     435,560 
                  
Cash flows from financing activities:
          Distributions to partners                          (650,404)   (436,925)
                 Net cash used by financing activities       (650,404)   (436,925)

Net decrease in cash                                           (1,051)     (1,365)
Cash at beginning of period                                     1,749       2,427 
Cash at end of period                                       $     698   $   1,062 

</TABLE>
See accompanying notes to financial statements.
















                                            -4-
<PAGE>
                        PDC 1992-C LIMITED PARTNERSHIP
                     (A West Virginia Limited Partnership)

                        Notes to Financial Statements 
                                  (Unaudited)



1.  Accounting Policies 

    Reference is hereby made to the Partnership's Annual Report on Form 10-K
    for 1995, which contains a summary of major accounting policies followed by
    the Partnership in the preparation of its financial statements.  These
    policies were also followed in preparing the quarterly report included
    herein. 

2.  Basis of Presentation

    The Management of the Partnership believes that all adjustments (consisting
    of only normal recurring accruals) necessary to a fair statement of the
    results of such periods have been made.  The results of operations for the
    nine months ended September 30, 1996 are not necessarily indicative of the
    results to be expected for the full year. 

3.  Oil and Gas Properties

    Oil and Gas Properties are reported on the successful efforts method.

























                                      -5-<PAGE>

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

    Liquidity and Capital Resources


         Operations will be conducted with available funds and revenues
    generated from oil and gas activities.  No bank borrowings are anticipated. 
    

         The Partnership had net working capital at September 30, 1996 of
    $164,722.

         The Partnership's revenues from oil and gas will be affected by
    changes in prices.  As a result of changes in federal regulations, gas
    prices are highly dependent on the balance between supply and demand.  The
    Partnership's gas sales prices are subject to increase and decrease based
    on various market sensitive indices.  Price levels of natural gas are
    currently above usual seasonal averages, and while they are not
    predictable, it appears that on average, they will be higher in 1996 than
    in 1995.


    Results of Operations

    Three Months Ended September 30, 1996 Compared with 1995

         Natural gas sales increased 51.5% during the third quarter of 1996
    compared to 1995 due to the increase in the sales price of natural gas as
    referred to above.  The partnership experienced a net income of $78,469 and
    distributed $152,387 to the partners in the third quarter of 1996.

    Nine Months Ended September 30, 1996 Compared with 1995

         Natural gas sales increased 55.3% during the first nine months of 1996
    compared to 1995 due to the increase in the sales price of natural gas as
    referred to above.  The partnership experienced a net income of $348,668
    and distributed $650,404 to the partners in the first nine months of 1996.














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<PAGE>
                                                               CONFORMED COPY

                         PART II - OTHER INFORMATION 


Item 1.  Legal Proceedings

         None.

Item 6.  Exhibits and Reports on Form 8-K

         (a) None.

         (b) No reports on Form 8-K have been filed during the quarter ended
             September 30, 1996.



                                  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.


                                              PDC 1992-C Limited Partnership 
                                                      (Registrant)

                                              By its Managing General Partner
                                              Petroleum Development Corporation
                                                       



Date:  November 13, 1996                        /s/ Steven R. Williams        
                                                    Steven R. Williams
                                                       President


Date:  November 13, 1996                        /s/ Dale G. Rettinger         
                                                    Dale G. Rettinger
                                                 Executive Vice President
                                                     and Treasurer

    






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