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


                                    FORM 10-Q

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

                  For the quarterly period ended June 30, 2000


                         Commission File No. 33-26097-10

                        PARKER & PARSLEY 90-C CONV., L.P.
             (Exact name of Registrant as specified in its charter)


                   Delaware                              75-2347264
    -----------------------------------------       ---------------------
        (State or other jurisdiction of               (I.R.S. Employer
        incorporation or organization)              Identification Number)


1400 Williams Square West, 5205 N. O'Connor Blvd., Irving, Texas      75039
----------------------------------------------------------------    ---------
           (Address of principal executive offices)                 (Zip code)

       Registrant's Telephone Number, including area code : (972) 444-9001


                                 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>



                        PARKER & PARSLEY 90-C CONV., L.P.

                                TABLE OF CONTENTS


                                                                      Page

                          Part I. Financial Information

Item 1.     Financial Statements

            Balance Sheets as of June 30, 2000 and
               December 31, 1999....................................    3

            Statements of Operations for the three and six
              months ended June 30, 2000 and 1999...................    4

            Statement of Partners' Capital for the six months
              ended June 30, 2000...................................    5

            Statements of Cash Flows for the six months ended
              June 30, 2000 and 1999................................    6

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

Item 2.     Management's Discussion and Analysis of Financial
              Condition and Results of Operations...................    7


                           Part II. Other Information

Item 6.     Exhibits and Reports on Form 8-K........................   10

            27.1   Financial Data Schedule

            Signatures..............................................   11



                                        2


<PAGE>



                        PARKER & PARSLEY 90-C CONV., L.P.
                        (A Delaware Limited Partnership)

                          Part I. Financial Information

Item 1.      Financial Statements
<TABLE>

                                 BALANCE SHEETS


                                                    June 30,       December 31,
                                                      2000            1999
                                                   -----------     -----------
                                                   (Unaudited)
                 ASSETS
<S>                                                <C>             <C>
Current assets:
  Cash                                             $   112,980     $   107,295
  Accounts receivable - oil and gas sales               93,280          79,853
                                                    ----------      ----------
         Total current assets                          206,260         187,148
                                                    ----------      ----------
Oil and gas properties - at cost, based on the
  successful efforts accounting method               5,791,073       5,775,729
Accumulated depletion                               (4,974,930)     (4,948,614)
                                                    ----------      ----------
         Net oil and gas properties                    816,143         827,115
                                                    ----------      ----------
                                                   $ 1,022,403     $ 1,014,263
                                                    ==========      ==========
LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
  Accounts payable - affiliate                     $    23,967     $    16,718

Partners' capital:
  Managing general partner                               9,954           9,945
  Limited partners (7,531 interests)                   988,482         987,600
                                                    ----------      ----------
                                                       998,436         997,545
                                                    ----------      ----------
                                                   $ 1,022,403     $ 1,014,263
                                                    ==========      ==========
</TABLE>


   The financial information included as of June 30, 2000 has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        3


<PAGE>



                        PARKER & PARSLEY 90-C CONV., L.P.
                        (A Delaware Limited Partnership)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)



<TABLE>

                                   Three months ended       Six months ended
                                        June 30,                 June 30,
                                 ---------------------   ---------------------
                                    2000        1999        2000        1999
                                 ---------   ---------   ---------   ---------
<S>                              <C>         <C>         <C>         <C>
Revenues:
   Oil and gas                   $ 221,187   $ 107,431   $ 414,898   $ 198,577
   Interest                          1,946         784       3,443       1,482
                                  --------    --------    --------    --------
                                   223,133     108,215     418,341     200,059
                                  --------    --------    --------    --------
Costs and expenses:
   Oil and gas production           77,437      85,308     161,148     154,559
   General and administrative        7,156       3,635      13,090       7,085
   Depletion                        12,574      16,722      26,316      56,490
                                  --------    --------    --------    --------
                                    97,167     105,665     200,554     218,134
                                  --------    --------    --------    --------
Net income (loss)                $ 125,966   $   2,550   $ 217,787   $ (18,075)
                                  ========    ========    ========    ========
Allocation of net income (loss):
   Managing general partner      $   1,260   $      25   $   2,178   $    (181)
                                  ========    ========    ========    ========
   Limited partners              $ 124,706   $   2,525   $ 215,609   $ (17,894)
                                  ========    ========    ========    ========
Net income (loss) per limited
   partnership interest          $   16.56   $     .33   $   28.63   $   (2.38)
                                  ========    ========    ========    ========

</TABLE>


         The financial information included herein has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        4


<PAGE>



                        PARKER & PARSLEY 90-C CONV., L.P.
                        (A Delaware Limited Partnership)

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)




<TABLE>

                                      Managing
                                      general       Limited
                                      partner       partners         Total
                                     ---------     ----------     ----------
<S>                                  <C>           <C>            <C>

Balance at January 1, 2000           $   9,945     $  987,600     $  997,545

    Distributions                       (2,169)      (214,727)      (216,896)

    Net income                           2,178        215,609        217,787
                                      --------      ---------      ---------

Balance at June 30, 2000             $   9,954     $  988,482     $  998,436
                                      ========      =========      =========

</TABLE>





         The financial information included herein has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        5


<PAGE>



                        PARKER & PARSLEY 90-C CONV., L.P.
                        (A Delaware Limited Partnership)

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<TABLE>

                                                          Six months ended
                                                              June 30,
                                                       -----------------------
                                                          2000         1999
                                                       ---------    ----------
<S>                                                    <C>          <C>
Cash flows from operating activities:
  Net income (loss)                                    $ 217,787    $  (18,075)
  Adjustments to reconcile net income (loss) to
     net cash provided by operating activities:
        Depletion                                         26,316        56,490
  Changes in assets and liabilities:
        Accounts receivable                              (13,427)      (20,296)
        Accounts payable                                   7,249         9,535
                                                        --------     ---------
           Net cash provided by operating activities     237,925        27,654
                                                        --------     ---------
Cash flows used in investing activities:
  Additions to oil and gas properties                    (15,344)       (8,231)

Cash flows used in financing activities:
  Cash distributions to partners                        (216,896)       (7,246)
                                                        --------     ---------
Net increase in cash                                       5,685        12,177
Cash at beginning of period                              107,295        66,221
                                                        --------     ---------
Cash at end of period                                  $ 112,980    $   78,398
                                                        ========     =========
</TABLE>



         The financial information included herein has been prepared by
  the managing general partner without audit by independent public accountants.

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

                                        6


<PAGE>



                        PARKER & PARSLEY 90-C CONV., L.P.
                        (A Delaware Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                                  June 30, 2000
                                   (Unaudited)

Note 1.     Organization and nature of operations

Parker & Parsley 90-C Conv., L.P. (the "Partnership") was organized as a general
partnership  in 1990 under the laws of the State of Texas and was converted to a
Delaware limited partnership on August 1, 1991.

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

Note 2.     Basis of presentation

In  the  opinion  of  management,  the  unaudited  financial  statements  of the
Partnership  as of June 30, 2000 and for the three and six months ended June 30,
2000 and 1999 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  reclassifications  may have been
made to the June 30, 1999  financial  statements to conform to the June 30, 2000
financial statement presentations.

Certain  information  and footnote  disclosures  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  Partnership's  Report on Form 10-K for the year ended
December 31, 1999, as filed with the Securities and Exchange Commission,  a copy
of which is available upon request by writing to Rich Dealy,  Vice President and
Chief Accounting Officer,  5205 North O'Connor  Boulevard,  1400 Williams Square
West, Irving, Texas 75039-3746.

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

Results of Operations

Six months ended June 30, 2000 compared with six months ended June 30, 1999

Revenues:

The  Partnership's  oil and gas revenues  increased 109% to $414,898 for the six
months  ended June 30, 2000 as compared to $198,577 for the same period in 1999.
The increase in revenues  resulted from higher  average  prices  received and an
increase in production.  For the six months ended June 30, 2000,  11,959 barrels

                                        7


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of oil, 4,427 barrels of natural gas liquids ("NGLs") and 14,092 mcf of gas were
sold, or 18,735  barrel of oil  equivalents  ("BOEs").  For the six months ended
June 30, 1999,  11,520  barrels of oil,  4,114 barrels of NGLs and 13,600 mcf of
gas were sold, or 17,901 BOEs.

The average price  received per barrel of oil increased  $14.34,  or 109%,  from
$13.12 for the six months  ended June 30,  1999 to $27.46 for the same period in
2000.  The average price received per barrel of NGLs  increased  $6.17,  or 93%,
from  $6.63  during the six  months  ended June 30,  1999 to $12.80 for the same
period in 2000.  The average  price  received per mcf of gas  increased 43% from
$1.48  during the six months ended June 30, 1999 to $2.11 for the same period in
2000. 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  Partnership may therefore sell its future oil and gas
production at average  prices lower or higher than that received  during the six
months ended June 30, 2000.

The volatility of commodity prices has had, and continues to have, a significant
impact on the Partnership's revenues and operating cash flow and could result in
additional  decreases to the  carrying  value of the  Partnership's  oil and gas
properties.

Costs and Expenses:

Total costs and expenses decreased to $200,554 for the six months ended June 30,
2000 as compared to $218,134 for the same period in 1999, a decrease of $17,580,
or 8%. This decrease was due to a decline in  depletion,  offset by increases in
production costs and general and administrative expenses ("G&A").

Production  costs  were  $161,148  for the six months  ended  June 30,  2000 and
$154,559 for the same period in 1999, resulting in a $6,589 increase, or 4%. The
increase  was the  result of higher  production  taxes due to higher oil and gas
prices, offset by a decline in well maintenance costs.

G&A's  components are independent  accounting and engineering  fees and managing
general  partner  personnel  and  operating  costs.   During  this  period,  G&A
increased, in aggregate,  85% from $7,085 for the six months ended June 30, 1999
to $13,090 for the same period in 2000  primarily  due to a higher allocation of
the managing general partner's G&A being allocated (limited to 3% of oil and gas
revenues) as a result of increased  oil and gas revenues.

Depletion was $26,316 for the six months ended June 30, 2000 compared to $56,490
for the same period in 1999, a decrease of $30,174,  or 53%.  This  decrease was
the result of an increase in proved  reserves  during the period  ended June 30,
2000 due to higher commodity prices,  offset by an increase in oil production of
439 barrels for the six months  ended June 30, 2000  compared to the same period
in 1999.

                                        8


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Three months ended June 30, 2000 compared with three months ended June 30, 1999

Revenues:

The Partnership's oil and gas revenues  increased 106% to $221,187 for the three
months  ended June 30, 2000 as compared to $107,431 for the same period in 1999.
The  increase in  revenues resulted from  higher average  prices received and an
increase in production.  For the three months ended June 30, 2000, 6,157 barrels
of oil, 2,484 barrels of NGLs and 7,658 mcf of gas were sold, or 9,917 BOEs. For
the three months ended June 30, 1999,  5,499  barrels of oil,  2,209  barrels of
NGLs and 6,284 mcf of gas were sold, or 8,755 BOEs.

The average  price  received per barrel of oil  increased  $13.24,  or 91%, from
$14.51 for the three months ended June 30, 1999 to $27.75 for the same period in
2000. The average price received per barrels of NGLs  increased  $4.70,  or 59%,
from $7.98  during the three  months  ended June 30, 1999 to $12.68 for the same
period in 2000.  The average  price  received per mcf of gas  increased 53% from
$1.59  during the three  months ended June 30, 1999 to $2.44 for the same period
in 2000.

Costs and Expenses:

Total costs and  expenses  decreased  to $97,167 for the three months ended June
30,  2000 as compared  to  $105,665  for the same period in 1999,  a decrease of
$8,498,  or 8%.  This  decrease  was due to  declines  in  production  costs and
depletion, offset by an increase in G&A.

Production  costs were  $77,437  for the three  months  ended June 30,  2000 and
$85,308 for the same period in 1999, resulting in a $7,871 decrease,  or 9%. The
decrease  was the  result  of lower  well  maintenance  costs,  offset by higher
production taxes due to higher oil and gas prices.

During this period, G&A increased,  in aggregate,  97% from $3,635 for the three
months ended June 30, 1999 to $7,156 for the same period in 2000  primarily  due
to a higher  allocation of the managing  general  partner's G&A being  allocated
(limited to 3% of oil and gas  revenues)  as a result of  increased  oil and gas
revenues.

Depletion  was $12,574  for the three  months  ended June 30,  2000  compared to
$16,722 for the same period in 1999, a decrease of $4,148, or 25%. This decrease
was the result of an increase in proved  reserves  during the period  ended June
30, 2000 as a result of higher  commodity  prices,  offset by an increase in oil
production  of 658 barrels for the three months ended June 30, 2000  compared to
the same period in 1999.

Liquidity and Capital Resources

Net Cash Provided by Operating Activities

Net cash  provided by operating  activities  increased  $210,271  during the six
months  ended  June 30,  2000 from the same  period  ended June 30,  1999.  This
increase  was due to an  increase  of  $225,151  in oil and gas sales  receipts,
offset by increases in operating  costs paid of $8,251 and G&A expenses  paid of
$6,629.

                                        9


<PAGE>


Net Cash Used in Investing Activities

The  Partnership's  principal  investing  activities during the six months ended
June 30, 2000 and 1999 were for  expenditures  related to equipment  upgrades on
various oil and gas properties.

Net Cash Used in Financing Activities

For the six months ended June 30, 2000, cash  distributions to the partners were
$216,896,  of which $2,169 was  distributed to the managing  general partner and
$214,727 to the limited partners.  For the same period ended June 30, 1999, cash
distributions  to the partners were $7,246,  of which $72 was distributed to the
managing general partner and $7,174 to the limited partners.

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

(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 6.     Exhibits and Reports on Form 8-K

(a)   Exhibits

      27.1   Financial Data Schedule

(b)   Form 8-K - none


                                       10


<PAGE>


                        PARKER & PARSLEY 90-C CONV., L.P.
                        (A Delaware 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 90-C CONV., L.P.

                                   By:     Pioneer Natural Resources USA, Inc.,
                                             Managing General Partner

Dated:  August 9, 2000             By:     /s/ Rich Dealy
                                           ----------------------------
                                           Rich Dealy, Vice President and
                                           Chief Accounting Officer

                                       11


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