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 quarter ended March 31, 1998

Commission File Number:

      P-1:  0-17800           P-3:  0-18306           P-5:  0-18637
      P-2:  0-17801           P-4:  0-18308           P-6:  0-18937

     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-1 LIMITED PARTNERSHIP
     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-2 LIMITED PARTNERSHIP
     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-3
     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-4
     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-5
     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-6
     ---------------------------------------------------------------------
            (Exact name of Registrant as specified in its Articles)


                                                P-1 73-1330245
                                                P-2 73-1330625
              P-1 and P-2:                      P-3 73-1336573
                 Texas                          P-4 73-1341929
             P-3 through P-6:                   P-5 73-1353774
                Oklahoma                        P-6 73-1357375
      ----------------------------    -------------------------------
      (State or other jurisdiction    (I.R.S. Employer Identification
          of incorporation or                      Number)
           organization)


       Two West Second Street, Tulsa, Oklahoma         74103
     ------------------------------------------------------------
     (Address of principal executive offices)        (Zip Code)

Registrant's telephone number, including area code:(918) 583-1791

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




                                       1
<PAGE>




                        PART I. FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS

     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-1 LIMITED PARTNERSHIP
                         GEODYNE NPI PARTNERSHIP P-1
                           COMBINED BALANCE SHEETS
                                 (Unaudited)


                                    ASSETS


                                              March 31,        December 31,
                                                1998              1997
                                             -----------       ------------

CURRENT ASSETS:
   Cash and cash equivalents                  $  208,629        $  503,622
   Accounts receivable:
      Net Profits                                145,985           164,644
      General Partner (Note 2)                    79,123                 -
                                              ----------        ----------
        Total current assets                  $  433,737        $  668,266

NET PROFITS INTERESTS, net, utilizing
   the successful efforts method               1,352,548         1,408,420
                                              ----------        ----------
                                              $1,786,285        $2,076,686
                                              ==========        ==========

                         PARTNERS' CAPITAL (DEFICIT)


PARTNERS' CAPITAL (DEFICIT):
   General Partner                           ($   85,106)      ($   87,415)
   Limited Partners, issued and
      outstanding, 108,074 units               1,871,391         2,164,101
                                              ----------        ----------
        Total Partners' capital               $1,786,285        $2,076,686
                                              ----------        ----------
                                              $1,786,285        $2,076,686
                                              ==========        ==========




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


                                       2
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-1 LIMITED PARTNERSHIP
                         GEODYNE NPI PARTNERSHIP P-1
                      COMBINED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998              1997
                                                --------          --------

REVENUES:
   Net Profits                                  $219,128          $279,897
   Interest and other income                       3,650             2,262
   Gain on sale of Net Profits
      Interests                                   83,194                 -
                                                --------          --------
                                                $305,972          $282,159

COST AND EXPENSES:
   Depletion of Net Profits
      Interests                                 $ 59,735          $ 60,683
   Impairment provision                                -           902,042
   General and administrative
      (Note 2)                                    37,293            34,764
                                                --------          --------
                                                $ 97,028          $997,489
                                                --------          --------

NET INCOME (LOSS)                               $208,944         ($715,330)
                                                ========          ========
GENERAL PARTNER - NET INCOME                    $ 12,654          $  2,629
                                                ========          ========
LIMITED PARTNERS - NET INCOME (LOSS)            $196,290         ($717,959)
                                                ========          ========
NET INCOME (LOSS) per unit                      $   1.82         ($   6.64)
                                                ========          ========
UNITS OUTSTANDING                                108,074           108,074
                                                ========          ========







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


                                       3
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-1 LIMITED PARTNERSHIP
                         GEODYNE NPI PARTNERSHIP P-1
                      COMBINED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998             1997
                                                ---------       ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                            $208,944         ($715,330)
   Adjustments to reconcile net income
      (loss) to net cash provided by
      operating activities:
      Depletion of Net Profits
        Interests                                 59,735            60,683
      Impairment provision                             -           902,042
      Gain on sale of Net Profits
        Interests                              (  83,194)                -
      Decrease in accounts receivable -
        Net Profits                               18,659            69,128
      Increase in accounts receivable -
        General Partner                        (  79,123)                -
                                                --------          --------
Net cash provided by operating
   activities                                   $125,021          $316,523
                                                --------          --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                        ($  9,427)        ($  6,602)
   Proceeds from sale of Net Profits
      Interests                                   88,758                 -
                                                --------          --------
Net cash provided by (used)
   investing activities                         $ 79,331         ($  6,602)
                                                --------          --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($499,345)        ($297,611)
                                                --------          --------
Net cash used by financing activities          ($499,345)        ($297,611)
                                                --------          --------

NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                            ($294,993)         $ 12,310

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                           503,622           293,296
                                                --------          --------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $208,629          $305,606
                                                ========          ========


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


                                       4
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-2 LIMITED PARTNERSHIP
                         GEODYNE NPI PARTNERSHIP P-2
                           COMBINED BALANCE SHEETS
                                 (Unaudited)


                                    ASSETS


                                              March 31,        December 31,
                                                1998              1997
                                             -----------       ------------

CURRENT ASSETS:
   Cash and cash equivalents                  $  165,411        $  369,191
   Accounts receivable:
      Net Profits                                115,415           135,331
      General Partner (Note 2)                    57,823                 -
                                              ----------        ----------
        Total current assets                  $  338,649        $  504,522

NET PROFITS INTERESTS, net, utilizing
   the successful efforts method               1,135,714         1,182,230
                                              ----------        ----------
                                              $1,474,363        $1,686,752
                                              ==========        ==========

                         PARTNERS' CAPITAL (DEFICIT)


PARTNERS' CAPITAL (DEFICIT):
   General Partner                           ($   71,210)      ($   72,438)
   Limited Partners, issued and
      outstanding, 90,094 units                1,545,573         1,759,190
                                              ----------        ----------
        Total Partners' capital               $1,474,363        $1,686,752
                                              ----------        ----------
                                              $1,474,363        $1,686,752
                                              ==========        ==========






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


                                       5
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-2 LIMITED PARTNERSHIP
                         GEODYNE NPI PARTNERSHIP P-2
                      COMBINED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                 1998              1997
                                              ----------         ---------

REVENUES:
   Net Profits                                 $167,958           $291,114
   Interest and other income                      2,722              1,708
   Gain on sale of Net Profits
      Interests                                  58,185                  -
                                               --------           --------
                                               $228,865           $292,822

COST AND EXPENSES:
   Depletion of Net Profits
      Interests                                $ 46,075           $ 50,988
   Impairment provision                               -            727,893
   General and administrative
      (Note 2)                                   31,116             28,893
                                               --------           --------
                                               $ 77,191           $807,774
                                               --------           --------

NET INCOME (LOSS)                              $151,674          ($514,952)
                                               ========           ========
GENERAL PARTNER - NET INCOME                   $  9,291           $  5,322
                                               ========           ========
LIMITED PARTNERS - NET INCOME (LOSS)           $142,383          ($520,274)
                                               ========           ========
NET INCOME (LOSS) per unit                     $   1.58          ($   5.77)
                                               ========           ========
UNITS OUTSTANDING                                90,094             90,094
                                               ========           ========





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


                                       6
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-2 LIMITED PARTNERSHIP
                         GEODYNE NPI PARTNERSHIP P-2
                      COMBINED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                 1998              1997
                                               ---------         ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                            $151,674         ($514,952)
   Adjustments to reconcile net income
      (loss) to net cash provided by
      operating activities:
      Depletion of Net Profits
        Interests                                 46,075            50,988
      Impairment provision                             -           727,893
      Gain on sale of Net Profits
        Interests                              (  58,185)                -
      (Increase) decrease in accounts
        receivable - Net Profits                  19,916         (  15,310)
      (Increase) decrease in accounts
        receivable - General Partner           (  57,823)            8,376
                                                --------          --------
Net cash provided by operating
   activities                                   $101,657          $256,995
                                                --------          --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                        ($  6,480)        ($  4,363)
   Proceeds from sale of Net Profits
      Interests                                   65,106                 -
                                                --------          --------
Net cash provided (used) by
   investing activities                         $ 58,626         ($  4,363)
                                                --------          --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($364,063)        ($225,683)
                                                --------          --------
Net cash used by financing activities          ($364,063)        ($225,683)
                                                --------          --------

NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                            ($203,780)         $ 26,949

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                           369,191           222,506
                                                --------          --------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $165,411          $249,455
                                                ========          ========


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


                                       7
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-3
                         GEODYNE NPI PARTNERSHIP P-3
                           COMBINED BALANCE SHEETS
                                 (Unaudited)

                                    ASSETS


                                              March 31,        December 31,
                                                1998              1997
                                             -----------       ------------

CURRENT ASSETS:
   Cash and cash equivalents                  $  307,579        $  685,628
   Accounts receivable:
      Net Profits                                217,948           254,470
      General Partner (Note 2)                   107,199                 -
                                              ----------        ----------
        Total current assets                  $  632,726        $  940,098

NET PROFITS INTERESTS, net, utilizing
   the successful efforts method               2,110,833         2,196,444
                                              ----------        ----------
                                              $2,743,559        $3,136,542
                                              ==========        ==========

                         PARTNERS' CAPITAL (DEFICIT)


PARTNERS' CAPITAL (DEFICIT):
   General Partner                           ($  134,924)      ($  137,258)
   Limited Partners, issued and
      outstanding, 169,637 units               2,878,483         3,273,800
                                              ----------        ----------
        Total Partners' capital               $2,743,559        $3,136,542
                                              ==========        ==========






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


                                       8
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-3
                         GEODYNE NPI PARTNERSHIP P-3
                      COMBINED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998             1997
                                                --------        ----------

REVENUES:
   Net Profits                                  $313,340        $  537,870
   Interest and other income                       5,142             3,246
   Gain on sale Net Profits
      Interests                                  108,543                 -
                                                --------        ----------
                                                $427,025        $  541,116

COST AND EXPENSES:
   Depletion of Net Profits
      Interests                                 $ 85,459        $   94,382
   Impairment provision                                -         1,413,917
   General and administrative
      (Note 2)                                    58,572            54,385
                                                --------        ----------
                                                $144,031        $1,562,684
                                                --------        ----------

NET INCOME (LOSS)                               $282,994       ($1,021,568)
                                                ========        ==========
GENERAL PARTNER - NET INCOME                    $ 17,311        $    9,091
                                                ========        ==========
LIMITED PARTNERS - NET INCOME (LOSS)            $265,683       ($1,030,659)
                                                ========        ==========
NET INCOME (LOSS) per unit                      $   1.57       ($     6.08)
                                                ========        ==========
UNITS OUTSTANDING                                169,637           169,637
                                                ========        ==========






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


                                       9
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-3
                         GEODYNE NPI PARTNERSHIP P-3
                      COMBINED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998             1997
                                                ---------       ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                            $282,994       ($1,021,568)
   Adjustments to reconcile net income
      (loss) to net cash provided by
      operating activities:
      Depletion of Net Profits
        Interests                                 85,459            94,382
      Impairment provision                             -         1,413,917
      Gain on sale of Net Profits
        Interests                              ( 108,543)                -
      (Increase) decrease in accounts
        receivable - Net Profits                  36,522       (    24,580)
      (Increase) decrease in accounts
        receivable - General Partner           ( 107,199)           16,473
                                                --------        ----------
Net cash provided by operating
   activities                                   $189,233        $  478,624
                                                --------        ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                        ($ 11,961)      ($    8,030)
   Proceeds from sale of Net Profits
      Interests                                  120,656                 -
                                                --------        ----------
Net cash provided (used) by
   investing activities                         $108,695       ($    8,030)
                                                --------        ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($675,977)      ($  418,619)
                                                --------        ----------
Net cash used by financing activities          ($675,977)      ($  418,619)
                                                --------        ----------

NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                            ($378,049)       $   51,975

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                           685,628           415,354
                                                --------        ----------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $307,579        $  467,329
                                                ========        ==========


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


                                       10
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-4
                         GEODYNE NPI PARTNERSHIP P-4
                           COMBINED BALANCE SHEETS
                                 (Unaudited)

                                    ASSETS


                                              March 31,        December 31,
                                                1998              1997
                                             -----------       ------------

CURRENT ASSETS:
   Cash and cash equivalents                  $  284,492        $  243,903
   Accounts receivable:
      Net Profits                                228,271           301,060
      General Partner (Note 2)                     6,396                 -
                                              ----------        ----------
        Total current assets                  $  519,159        $  544,963

NET PROFITS INTERESTS, net, utilizing
   the successful efforts method               1,208,153         1,282,329
                                              ----------        ----------
                                              $1,727,312        $1,827,292
                                              ==========        ==========

                         PARTNERS' CAPITAL (DEFICIT)


PARTNERS' CAPITAL (DEFICIT):
   General Partner                           ($   98,940)      ($   94,799)
   Limited Partners, issued and
      outstanding, 126,306 units               1,826,252         1,922,091
                                              ----------        ----------
        Total Partners' capital               $1,727,312        $1,827,292
                                              ----------        ----------
                                              $1,727,312        $1,827,292
                                              ==========        ==========






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


                                       11
<PAGE>


     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-4
                         GEODYNE NPI PARTNERSHIP P-4
                      COMBINED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                 1998               1997
                                               ---------          --------

REVENUES:
   Net Profits                                  $240,392          $407,373
   Interest and other income                       2,861             2,720
   Gain (loss) on sale of Net
      Profits Interests                            4,248         (  10,254)
                                                --------          --------
                                                $247,501          $399,839

COST AND EXPENSES:
   Depletion of Net Profits
      Interests                                 $ 69,393          $117,028
   Impairment provision                                -           752,388
   General and administrative
      (Note 2)                                    43,588            38,287
                                                --------          --------
                                                $112,981          $907,703
                                                --------          --------

NET INCOME (LOSS)                               $134,520         ($507,864)
                                                ========          ========
GENERAL PARTNER - NET INCOME                    $  9,359          $  9,247
                                                ========          ========
LIMITED PARTNERS - NET INCOME (LOSS)            $125,161         ($517,111)
                                                ========          ========
NET INCOME (LOSS) per unit                      $    .99         ($   4.09)
                                                ========          ========
UNITS OUTSTANDING                                126,306           126,306
                                                ========          ========




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


                                       12
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-4
                         GEODYNE NPI PARTNERSHIP P-4
                      COMBINED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998             1997
                                                ---------       ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                            $134,520         ($507,864)
   Adjustments to reconcile net income
      (loss) to net cash provided by
      operating activities:
      Depletion of Net Profits
        Interests                                 69,393           117,028
      Impairment provision                             -           752,388
      (Gain) loss on sale of Net
        Profits Interests                      (   4,248)           10,254
      Decrease in accounts receivable -
        Net Profits                               72,789            77,957
      Increase in accounts receivable -
        General Partner                        (   6,396)        (  56,788)
                                                --------          --------
Net cash provided by operating
   activities                                   $266,058          $392,975
                                                --------          --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                        ($    342)         $      -
   Proceeds from sale of Net Profits
      Interests                                    9,373            57,105
                                                --------          --------
Net cash provided by investing
   activities                                   $  9,031          $ 57,105
                                                --------          --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($234,500)        ($343,251)
                                                --------          --------
Net cash used by financing activities          ($234,500)        ($343,251)
                                                --------          --------

NET INCREASE IN CASH AND CASH
   EQUIVALENTS                                  $ 40,589          $106,829

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                           243,903           345,876
                                                --------          --------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $284,492          $452,705
                                                ========          ========


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


                                       13
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-5
                         GEODYNE NPI PARTNERSHIP P-5
                           COMBINED BALANCE SHEETS
                                 (Unaudited)

                                    ASSETS


                                              March 31,        December 31,
                                                1998              1997
                                             -----------       ------------

CURRENT ASSETS:
   Cash and cash equivalents                  $  217,856        $  228,750
   Accounts receivable:
      Net Profits                                119,686           134,968
      General Partner (Note 2)                   147,494                 -
                                              ----------        ----------
        Total current assets                  $  485,036        $  363,718

NET PROFITS INTERESTS, net, utilizing
   the successful efforts method               1,207,857         1,257,789
                                              ----------        ----------
                                              $1,692,893        $1,621,507
                                              ==========        ==========

                         PARTNERS' CAPITAL (DEFICIT)


PARTNERS' CAPITAL (DEFICIT):
   General Partner                           ($   69,006)      ($   74,683)
   Limited Partners, issued and
      outstanding, 118,449 units               1,761,899         1,696,190
                                              ----------        ----------
        Total Partners' capital               $1,692,893        $1,621,507
                                              ----------        ----------
                                              $1,692,893        $1,621,507
                                              ==========        ==========





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


                                       14
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-5
                         GEODYNE NPI PARTNERSHIP P-5
                           COMBINED BALANCE SHEETS
                                 (Unaudited)



                                                 1998              1997
                                               ---------        ----------

REVENUES:
   Net Profits                                  $248,386        $  341,315
   Interest and other income                       2,429             1,999
   Gain on sale of oil Net Profits
      Interests                                  136,624                 -
                                                --------        ----------
                                                $387,439        $  343,314

COST AND EXPENSES:
   Depletion of Net Profits
      Interests                                 $ 58,197        $   85,514
   Impairment provision                                -         1,018,067
   General and administrative
      (Note 2)                                    40,910            38,581
                                                --------        ----------
                                                $ 99,107        $1,142,162
                                                --------        ----------

NET INCOME (LOSS)                               $288,332       ($  798,848)
                                                ========        ==========
GENERAL PARTNER - NET INCOME                    $ 16,623        $    4,101
                                                ========        ==========
LIMITED PARTNERS - NET INCOME (LOSS)            $271,709       ($  802,949)
                                                ========        ==========
NET INCOME (LOSS) per unit                      $   2.29       ($     6.78)
                                                ========        ==========
UNITS OUTSTANDING                                118,449           118,449
                                                ========        ==========




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


                                       15
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-5
                         GEODYNE NPI PARTNERSHIP P-5
                      COMBINED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998             1997
                                                ---------       ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                            $288,332       ($  798,848)
   Adjustments to reconcile net income
      (loss) to net cash provided by
      operating activities:
      Depletion of Net Profits
        Interests                                 58,197            85,514
      Impairment provision                             -         1,018,067
      Gain on sale of Net Profits
        Interests                              ( 136,624)                -
      Decrease in accounts receivable -
        Net Profits                               15,282            53,460
      Increase in accounts receivable -
        General Partner                        ( 147,494)      (     1,955)
                                                --------        ----------
Net cash provided by operating
   activities                                   $ 77,693        $  356,238
                                                --------        ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                        ($ 19,135)       $        -
   Proceeds from sale of Net Profits
      Interests                                  147,494             2,583
                                                --------        ----------
Net cash provided by investing
   activities                                   $128,359        $    2,583
                                                --------        ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($216,946)      ($  254,796)
                                                --------        ----------
Net cash used by financing activities          ($216,946)      ($  254,796)
                                                --------        ----------

NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                            ($ 10,894)       $  104,025

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                           228,750           247,540
                                                --------        ----------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $217,856        $  351,565
                                                ========        ==========


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


                                       16
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-6
                         GEODYNE NPI PARTNERSHIP P-6
                           COMBINED BALANCE SHEETS
                                 (Unaudited)

                                    ASSETS


                                              March 31,        December 31,
                                                1998              1997
                                             -----------       ------------

CURRENT ASSETS:
   Cash and cash equivalents                  $  359,593        $  362,957
   Accounts receivable:
      Net Profits                                190,052           291,352
      General Partner (Note 2)                    71,423                 -
                                              ----------        ----------
        Total current assets                  $  621,068        $  654,309

NET PROFITS INTERESTS, net, utilizing
   the successful efforts method               2,377,836         2,457,809
                                              ----------        ----------
                                              $2,998,904        $3,112,118
                                              ==========        ==========

                         PARTNERS' CAPITAL (DEFICIT)


PARTNERS' CAPITAL (DEFICIT):
   General Partner                           ($   99,010)      ($   96,514)
   Limited Partners, issued and
      outstanding, 143,041 units               3,097,914         3,208,632
                                              ----------        ----------
        Total Partners' capital               $2,998,904        $3,112,118
                                              ----------        ----------
                                              $2,998,904        $3,112,118
                                              ==========        ==========






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


                                       17
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-6
                         GEODYNE NPI PARTNERSHIP P-6
                      COMBINED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)


                                                  1998             1997
                                                --------        ----------

REVENUES:
   Net Profits                                  $338,028        $  544,640
   Interest and other income                       4,017             3,179
   Gain on sale of Net Profits
      Interests                                   66,346             4,020
                                                --------        ----------
                                                $408,391        $  551,839

COST AND EXPENSES:
   Depletion of Net Profits
      Interests                                 $ 96,943        $  152,608
   Impairment provision                                -           898,584
   General and administrative
      (Note 2)                                    49,386            47,649
                                                --------        ----------
                                                $146,329        $1,098,841
                                                --------        ----------

NET INCOME (LOSS)                               $262,062       ($  547,002)
                                                ========        ==========
GENERAL PARTNER - NET INCOME                    $ 16,780        $   14,539
                                                ========        ==========
LIMITED PARTNERS - NET INCOME (LOSS)            $245,282       ($  561,541)
                                                ========        ==========
NET INCOME (LOSS) per unit                      $   1.71       ($     3.93)
                                                ========        ==========
UNITS OUTSTANDING                                143,041           143,041
                                                ========        ==========




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


                                       18
<PAGE>



     GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-6
                         GEODYNE NPI PARTNERSHIP P-6
                      COMBINED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 1998 AND 1997
                                 (Unaudited)

                                                  1998             1997
                                                ---------       ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income (loss)                            $262,062         ($547,002)
   Adjustments to reconcile net income
      (loss) to net cash provided by
      operating activities:
      Depletion of Net Profits
        Interests                                 96,943           152,608
      Impairment provision                             -           898,584
      Gain on sale of Net Profits
        Interests                              (  66,346)        (   4,020)
      Decrease in accounts receivable -
        Net Profits                              101,300           184,708
      Increase in accounts receivable -
        General Partner                        (  71,423)        (     669)
                                                --------          --------
Net cash provided by operating
   activities                                   $322,536          $684,209
                                                --------          --------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Capital expenditures                        ($ 22,047)        ($  7,741)
   Proceeds from sale of Net Profits
      Interests                                   71,423             4,689
                                                --------          --------
Net cash provided (used) by
   investing activities                         $ 49,376         ($  3,052)
                                                --------          --------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Cash distributions                          ($375,276)        ($333,323)
                                                --------          --------
Net cash used by financing activities          ($375,276)        ($333,323)
                                                --------          --------

NET INCREASE (DECREASE) IN CASH AND
   CASH EQUIVALENTS                            ($  3,364)         $347,834

CASH AND CASH EQUIVALENTS AT
   BEGINNING OF PERIOD                           362,957           319,699
                                                --------          --------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                $359,593          $667,533
                                                ========          ========

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



                                       19
<PAGE>



       GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIPS
             CONDENSED NOTES TO THE COMBINED FINANCIAL STATEMENTS
                                MARCH 31, 1998
                                  (Unaudited)


1.    ACCOUNTING POLICIES
      -------------------

      The combined balance sheets as of March 31, 1998,  combined  statements of
      operations  for the  three  months  ended  March 31,  1998 and  1997,  and
      combined  statements  of cash flows for the three  months  ended March 31,
      1998 and 1997 have been prepared by Geodyne  Resources,  Inc., the General
      Partner of the Geodyne  Institutional/Pension Energy Limited Partnerships,
      without  audit.  Each  limited  partnership  is a general  partner  in the
      related Geodyne NPI Partnership (the "NPI  Partnerships") in which Geodyne
      Resources,  Inc. serves as the managing partner. For the purposes of these
      financial  statements,  the  general  partner  and  managing  partner  are
      collectively  referred  to  as  the  "General  Partner"  and  the  limited
      partnerships  and NPI  Partnerships  are  collectively  referred to as the
      "Partnerships".  In the opinion of  management  the  financial  statements
      referred to above include all necessary adjustments,  consisting of normal
      recurring  adjustments,  to present fairly the combined financial position
      at March 31, 1998, the combined results of operations for the three months
      ended March 31, 1998 and 1997,  and the combined  cash flows for the three
      months ended March 31, 1998 and 1997.

      Information  and  footnote  disclosures  normally  included  in  financial
      statements  prepared in  accordance  with  generally  accepted  accounting
      principles  have been  condensed  or  omitted.  The  accompanying  interim
      financial  statements should be read in conjunction with the Partnerships'
      Annual Report on Form 10-K filed for the year ended December 31, 1997. The
      results  of  operations  for the  period  ended  March  31,  1998  are not
      necessarily indicative of the results to be expected for the full year.

      As used in these financial  statements,  the Partnerships' net profits and
      royalty  interests in oil and gas sales are  referred to as "Net  Profits"
      and the  Partnerships'  net profits and royalty  interests  in oil and gas
      properties  are  referred  to as  "Net  Profits  Interests".  The  working
      interests from which  Partnerships'  Net Profits  Interests are carved are
      referred to as "Working Interests".

      The Limited  Partners' net income or loss per unit is based upon each $100
      initial capital contribution.






                                       20
<PAGE>



      NET PROFITS INTERESTS
      ---------------------

      The  Partnerships  follow the successful  efforts method of accounting for
      their Net Profits Interests.  Under the successful efforts method, the NPI
      Partnerships  capitalize all acquisition costs. Property acquisition costs
      include  costs  incurred by the  Partnerships  or the  General  Partner to
      acquire  producing  properties,   including  related  title  insurance  or
      examination costs,  commissions,  engineering,  legal and accounting fees,
      and similar costs directly related to the acquisitions,  plus an allocated
      portion,   of  the  General  Partner's   property   screening  costs.  The
      acquisition cost to the NPI Partnership of Net Profits Interests  acquired
      by the General  Partner is  adjusted  to reflect  the net cash  results of
      operations,  including  interest incurred to finance the acquisition,  for
      the period of time the properties are held by the General Partner prior to
      their transfer to the Partnerships. Impairment of Net Profits Interests is
      recognized based upon an individual property assessment.

      Depletion  of the  costs  of Net  Profits  Interests  is  computed  on the
      unit-of-production  method. The Partnerships'  calculation of depletion of
      its net Profits Interests includes estimated dismantlement and abandonment
      costs, net of estimated salvage value.

      Statement of Financial  Accounting Standards ("SFAS") No. 121, "Accounting
      for the  Impairment  of Long Lived  Assets and Assets Held for  Disposal",
      requires successful efforts companies, like the Partnerships,  to evaluate
      the  recoverability  of the  carrying  costs of their  proved  oil and gas
      properties at the lowest level for which there are identifiable cash flows
      that are largely  independent of the cash flows of other groups of oil and
      gas properties.  With respect to the Partnerships' oil and gas properties,
      this evaluation was performed for each field.  SFAS No. 121, provides that
      if the  unamortized  costs of oil and gas properties for each field exceed
      the expected undiscounted future cash flows form such properties, the cost
      of the  properties  is written down to fair value,  which is determined by
      using  the  discounted   future  cash  flows  from  the  properties.   The
      Partnerships  recorded  a non-cash  charge  against  earnings  (impairment
      provision)  during the three months ended March 31, 1997  pursuant to SFAS
      No. 121 as follows:





                                       21
<PAGE>



                  Partnership               Amount
                  -----------             -----------
                    P-1                    $  902,042
                    P-2                       727,893
                    P-3                     1,413,917
                    P-4                       752,388
                    P-5                     1,018,067
                    P-6                       898,584

      No such charge was recorded in the three months ended March 31, 1998.  The
      risk that the  Partnerships  will be required  to record  such  impairment
      provisions in the future increases when oil and gas prices are depressed.


2.     TRANSACTIONS WITH RELATED PARTIES
      ---------------------------------

      The Partnerships'  partnership agreements provide for reimbursement to the
      General Partner for all direct general and administrative expenses and for
      the general and  administrative  overhead  applicable to the  Partnerships
      based on an allocation of actual costs  incurred.  During the three months
      ended  March 31,  1998 the  following  payments  were made to the  General
      Partner or its affiliates by the Partnerships:

                                Direct General           Administrative
            Partnership        and Administrative           Overhead
            -----------        -------------------       ---------------
               P-1                  $ 8,853                  $28,440
               P-2                    7,407                   23,709
               P-3                   13,932                   44,640
               P-4                   10,348                   33,240
               P-5                    9,740                   31,170
               P-6                   11,745                   37,641

      Affiliates  of the  Partnerships  operate  certain  of  the  Partnerships'
      properties and their policy is to bill the  Partnerships for all customary
      charges and cost reimbursements associated with their activities.

      The  receivables  from  the  General  Partner  at March  31,  1998 for the
      Partnerships  represent  proceeds due to the Partnerships from the sale of
      oil and gas  properties to third parties during the first quarter of 1998.
      Subsequent  to March 31, 1998,  these  receivables  were  collected by the
      Partnerships.




                                       22
<PAGE>



ITEM 2.     MANAGEMENT'S  DISCUSSION  AND ANALYSIS OF FINANCIAL  CONDITION AND
            RESULTS OF OPERATIONS


USE OF FORWARD-LOOKING STATEMENTS AND ESTIMATES
-----------------------------------------------

      This Quarterly Report contains  certain  forward-looking  statements.  The
      words "anticipate",  "believe",  "expect",  "plan", "intend",  "estimate",
      "project", "could", "may" and similar expressions are intended to identify
      forward-looking  statements.  Such statements reflect management's current
      views  with  respect  to future  events and  financial  performance.  This
      Quarterly Report also includes certain information,  which is, or is based
      upon,  estimates  and  assumptions.  Such  estimates and  assumptions  are
      management's  efforts to accurately reflect the condition and operation of
      the Program.

      Use of  forward-looking  statements and estimates and assumptions  involve
      risks  and  uncertainties  which  include,  but are not  limited  to,  the
      volatility of oil and gas prices, the uncertainty of reserve  information,
      the operating risk associated  with oil and gas properties  (including the
      risk of personal injury,  death,  property  damage,  damage to the well or
      producing  reservoir,  environmental  contamination,  and other  operating
      risks), the prospect of changing tax and regulatory laws, the availability
      and capacity of  processing  and  transportation  facilities,  the general
      economic climate,  the supply and price of foreign imports of oil and gas,
      the level of consumer  product demand,  and the price and  availability of
      alternative  fuels.  Should  one or more of these  risks or  uncertainties
      occur or should  estimates  or  underlying  assumptions  prove  incorrect,
      actual  conditions or results may vary materially and adversely from those
      stated, anticipated, believed, estimated, and otherwise indicated.


GENERAL
-------

      The  Partnerships  are engaged in the  business of  acquiring  Net Profits
      Interests in producing oil and gas properties  located in the  continental
      United States.  In general,  a Partnership  acquired passive  interests in
      producing  properties and does not directly engage in development drilling
      or  enhanced  recovery  projects.  Therefore,  the  economic  life of each
      limited  partnership,  and its related NPI Partnership,  is limited to the
      period  of  time  required  to  fully  produce  its  acquired  oil and gas
      reserves. A Net Profits Interest entitles the Partnerships to a portion of
      the  oil  and  gas  sales  less  operating  and  production  expenses  and
      development costs generated by the owner of the



                                       23
<PAGE>



      underlying  Working  Interests.  The net  proceeds  from the oil and gas
      operations  are  distributed  to the  Limited  Partners  and the General
      Partner in accordance  with the terms of the  Partnerships'  partnership
      agreements.


LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

      The Partnerships began operations and investors were assigned their rights
      as Limited Partners,  having made capital contributions in the amounts and
      on the dates set forth below:
    
                                                               Limited
                                     Date of               Partner Capital
               Partnership          Activation              Contributions
               -----------       ------------------        ---------------

                  P-1            October 25, 1988            $10,807,400
                  P-2            February 9, 1989              9,009,400
                  P-3            May 10, 1989                 16,963,700
                  P-4            November 21, 1989            12,630,600
                  P-5            February 27, 1990            11,844,900
                  P-6            September 5, 1990            14,304,100

      In general,  the amount of funds  available for  acquisition  of producing
      properties was equal to the capital contributions of the Limited Partners,
      less 15% for sales  commissions and  organization and management fees. All
      of the Partnerships have fully invested their capital contributions.

      Net proceeds from the  Partnerships'  Net Profits Interests less necessary
      operating  capital are distributed to the Limited  Partners on a quarterly
      basis.  Revenues and net proceeds of a Partnership  are largely  dependent
      upon the volumes of oil and gas sold and the prices  received for such oil
      and gas. While the General  Partner cannot predict future pricing  trends,
      it believes the working capital available as of March 31, 1998 and the net
      revenue generated from future operations will provide  sufficient  working
      capital to meet current and future obligations.

      The  Partnerships'  Statements of Cash Flows for the first quarter of 1998
      include proceeds from the sale of oil and gas properties  during the three
      months  ended  March  31,  1998.  These  proceeds  will be  reflected,  as
      applicable, in the Partnerships' cash distributions, if any, to be paid in
      May 1998.  It is possible  that the  Partnerships'  repurchase  values and
      future cash distributions  could decline as a result of the disposition of
      these  properties.  On the other hand, the General Partner  believes there
      will be beneficial  operating  efficiencies  related to the  Partnerships'
      remaining properties. This is primarily due to the fact


                                       24
<PAGE>



      that  the  properties  sold  generally  bore a higher  ratio of  operating
      expenses  as  compared  to  reserves  than  the  Partnerships'   remaining
      properties.


RESULTS OF OPERATIONS
---------------------

      GENERAL DISCUSSION

      The following  general  discussion  should be read in conjunction with the
      analysis  of results of  operations  provided  below.  The most  important
      variable  affecting the Partnerships'  revenues is the prices received for
      the sale of oil and  gas.  Predicting  future  prices  is very  difficult.
      Substantially  all of the Partnerships' gas reserves are being sold in the
      "spot market".  Prices on the spot market are subject to wide seasonal and
      regional pricing  fluctuations due to the highly competitive nature of the
      spot market. In addition,  such spot market sales are generally short-term
      in nature and are dependent upon the obtaining of transportation  services
      provided by pipelines.  Management is unable to predict whether future oil
      and gas prices will (i) stabilize, (ii) increase, or (iii) decrease.

      P-1 PARTNERSHIP

      THREE  MONTHS  ENDED MARCH 31, 1998 AS COMPARED TO THE THREE  MONTHS ENDED
      MARCH 31, 1997.

                                                Three Months Ended March 31,
                                                ----------------------------
                                                    1998             1997
                                                  --------         --------
      Net Profits                                 $219,128         $279,897
      Barrels produced                               6,960            8,584
      Mcf produced                                  90,986           82,354
      Average price/Bbl                           $  14.14         $  20.91
      Average price/Mcf                           $   2.05         $   2.35

      As shown in the table above, Net Profits decreased $60,769 (21.7%) for the
      three  months  ended March 31, 1998 as compared to the three  months ended
      March 31,  1997.  Of this  decrease,  approximately  $47,000 and  $27,000,
      respectively,  were related to decreases in the average  prices of oil and
      gas sold and approximately $34,000 was related to a decrease in volumes of
      oil sold. However, these decreases were partially offset by an increase of
      approximately $20,000 related to an increase in volumes of gas sold and an
      increase of  approximately  $27,000  related to  decreases  in  production
      expenses incurred by the owners of the Working  Interests.  Volumes of oil
      sold decreased  1,624 barrels,  while volumes of gas sold increased  8,632
      Mcf for the three  months  ended  March 31,  1998 as compared to the three
      months



                                       25
<PAGE>



      ended  March 31,  1997.  The  decrease  in  volumes  of oil sold  resulted
      primarily  from  positive  prior  period  volume  adjustments  made by the
      purchaser  on four  significant  wells during the three months ended March
      31, 1997.  The increase in volumes of gas sold resulted  primarily  from a
      negative  prior  period  volume  adjustment  made by the  purchaser on one
      significant  well  during  the three  months  ended  March 31,  1997.  The
      decrease in production  expenses resulted  primarily from decreases in (i)
      volumes  of oil sold  during  the three  months  ended  March 31,  1998 as
      compared to the three  months  ended  March 31,  1997 and (ii)  production
      taxes incurred by the owners of the Working Interests. Average oil and gas
      prices decreased to $14.14 per barrel and $2.05 per Mcf, respectively, for
      the three months ended March 31, 1998 from $20.91 per barrel and $2.35 per
      Mcf, respectively, for the three months ended March 31, 1997.

      Depletion  of Net Profits  Interests  decreased  $948 (1.6%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997. As a percentage of Net Profits,  this expense increased to 27.3%
      for the three  months ended March 31, 1998 from 21.7% for the three months
      ended March 31, 1997.  This  percentage  increase was primarily due to the
      decreases  in the  average  prices  of oil and gas sold  during  the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997.

      The P-1  Partnership  recognized  a non-cash  charge  against  earnings of
      $902,042  during the three months  ended March 31,  1997.  Of this amount,
      $113,945  was related to a decline in oil and gas prices used to determine
      future  cash flows from the P-1  Partnership's  Net Profits  Interests  in
      proved oil and gas  reserves at March 31, 1997 and $788,097 was related to
      the  writing-off  of Net Profits  Interests  in unproved  properties.  The
      General  Partner  determined  that it was  unlikely  that  these  unproved
      properties  would be developed due to the low oil and gas prices  received
      over the prior several years and partnership  agreement  provisions  which
      limit  the  P-1  Partnership's  level  of  permissible  indirect  drilling
      activity through affiliated  programs which own the Working Interests.  No
      similar  charges  were  necessary  during the three months ended March 31,
      1998.

      General and administrative expenses increased $2,529 (7.3%) for the three 
      months ended March 31, 1998 as  compared  to the  three months ended March
      31, 1997. As a percentage  of Net  Profits, these  expenses  increased to 
      17.0% for the three  months  ended March 31, 1998 from 12.4% for the three
      months ended March 31, 1997. This percentage increase was primarily due to
      the decrease in Net Profits discussed above.




                                       26
<PAGE>



      Cumulative cash  distributions  to the Limited  Partners through March 31,
      1998  were  $10,502,558  or  97.18%  of  the  Limited   Partners'  capital
      contributions.

      P-2 PARTNERSHIP

      THREE  MONTHS  ENDED MARCH 31, 1998 AS COMPARED TO THE THREE  MONTHS ENDED
      MARCH 31, 1997.

                                                 Three Months Ended March 31,
                                                 ----------------------------
                                                    1998             1997
                                                  --------         --------
      Net Profits                                 $167,958         $291,114
      Barrels produced                               4,941            6,082
      Mcf produced                                  73,503           71,611
      Average price/Bbl                           $  14.14         $  20.93
      Average price/Mcf                           $   2.05         $   3.45

      As shown in the table above,  Net Profits  decreased  $123,156 (42.3%) for
      the three  months  ended March 31,  1998 as  compared to the three  months
      ended  March  31,  1997.  Of  this  decrease,  approximately  $34,000  and
      $103,000, respectively, were related to decreases in the average prices of
      oil and gas sold and  approximately  $24,000  was related to a decrease in
      volumes of oil sold.  However,  these  decreases were partially  offset by
      increases of approximately $7,000 related to an increase in volumes of gas
      sold and approximately $31,000 related to decreases in production expenses
      incurred  by the  owners of the  Working  Interests.  Volumes  of oil sold
      decreased 1,141 barrels, while volumes of gas sold increased 1,892 Mcf for
      the three  months  ended March 31,  1998 as  compared to the three  months
      ended  March 31,  1997.  The  decrease  in  volumes  of oil sold  resulted
      primarily  from (i) positive prior period volume  adjustments  made by the
      purchaser  on several  wells during the three months ended March 31, 1997,
      (ii) the  decline in  production  due to  diminished  oil  reserves on one
      significant  well during the three months ended March 31, 1998,  and (iii)
      the sale of two  significant oil producing wells during 1997. The decrease
      in  production  expenses  resulted  primarily  from  decreases  in (i) the
      volumes  of oil sold  during  the three  months  ended  March 31,  1998 as
      compared to the three  months ended March 31,  1997,  and (ii)  production
      taxes incurred by the owners of the Working Interests. Average oil and gas
      prices decreased to $14.14 per barrel and $2.05 per Mcf, respectively, for
      the three months ended March 31, 1998 from $20.93 per barrel and $3.45 per
      Mcf, respectively, for the three months ended March 31, 1997.





                                       27
<PAGE>



      Depletion of Net Profits  Interests  decreased $4,913 (9.6%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997. As a percentage of Net Profits,  this expense increased to 27.4%
      for the three  months ended March 31, 1998 from 17.5% for the three months
      ended March 31, 1997.  This  percentage  increase was primarily due to the
      decreases  in the  average  prices  of oil and gas sold  during  the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997.

      The P-2  Partnership  recognized  a non-cash  charge  against  earnings of
      $727,893  during the three months  ended March 31,  1997.  Of this amount,
      $113,005  was related to a decline in oil and gas prices used to determine
      future  cash flows from the P-2  Partnership's  Net Profits  Interests  in
      proved oil and gas  reserves at March 31, 1997 and $614,888 was related to
      the  writing-off  of Net Profits  Interests  in unproved  properties.  The
      General  Partner  determined  that it was  unlikely  that  these  unproved
      properties  would be developed due to the low oil and gas prices  received
      over the prior several years and partnership  agreement  provisions  which
      limit  the  P-2  Partnership's  level  of  permissible  indirect  drilling
      activity through affiliated  programs which own the Working Interests.  No
      similar  charges  were  necessary  during the three months ended March 31,
      1998.

      General and administrative expenses increased $2,223 (7.7%) for the three 
      months ended  March 31,  1998 as  compared to the three months ended March
      31, 1997.  As a  percentage of  Net Profits,  these expenses increased  to
      18.5% for the three months  ended March 31, 1998 from 9.9%  for the  three
      months ended March 31, 1997. This percentage increase was primarily due to
      the decrease in Net Profits discussed above.

      Cumulative cash  distributions  to the Limited  Partners through March 31,
      1998  were  $8,018,561  or  89.00%  of  the  Limited   Partners'   capital
      contributions.





                                       28
<PAGE>



      P-3 PARTNERSHIP

      THREE  MONTHS  ENDED MARCH 31, 1998 AS COMPARED TO THE THREE  MONTHS ENDED
      MARCH 31, 1997.

                                                Three Months Ended March 31,
                                                ----------------------------
                                                    1998             1997
                                                  --------         --------
      Net Profits                                 $313,340         $537,870
      Barrels produced                               9,143           11,239
      Mcf produced                                 137,185          134,814
      Average price/Bbl                           $  14.13         $  20.94
      Average price/Mcf                           $   2.06         $   3.41

      As shown in the table above,  Net Profits  decreased  $224,530 (41.7%) for
      the three  months  ended March 31,  1998 as  compared to the three  months
      ended  March  31,  1997.  Of  this  decrease,  approximately  $62,000  and
      $185,000, respectively, were related to decreases in the average prices of
      oil and gas sold and  approximately  $44,000  was related to a decrease in
      volumes of oil sold.  However,  these  amounts  were  partially  offset by
      increases of approximately (i) $8,000 related to an increase in volumes of
      gas sold and (ii)  $59,000  related to decreases  in  production  expenses
      incurred  by the  owners of the  Working  Interests.  Volumes  of oil sold
      decreased 2,096 barrels, while volumes of gas sold increased 2,371 Mcf for
      the three  months  ended March 31,  1998 as  compared to the three  months
      ended  March 31,  1997.  The  decrease  in  volumes  of oil sold  resulted
      primarily  from (i) positive prior period volume  adjustments  made by the
      purchaser  on several  wells during the three months ended March 31, 1997,
      (ii) the  decline in  production  due to  diminished  oil  reserves on one
      significant  well during the three months ended March 31, 1998,  and (iii)
      the sale of two  significant oil producing wells during 1997. The decrease
      in production expenses resulted primarily from decreases in (i) volumes of
      oil sold during the three  months  ended March 31, 1998 as compared to the
      three months ended March 31, 1997 and (ii)  production  taxes  incurred by
      the owners of the Working Interests.  Average oil and gas prices decreased
      to $14.13 per barrel and $2.06 per Mcf, respectively, for the three months
      ended   March  31,  1998  from  $20.94  per  barrel  and  $3.41  per  Mcf,
      respectively, for the three months ended March 31, 1997.

      Depletion of Net Profits  Interests  decreased $8,923 (9.5%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997. As a percentage of Net Profits,  this expense increased to 27.3%
      for the three  months ended March 31, 1998 from 17.5% for the three months
      ended March 31, 1997.  This  percentage  increase was primarily due to the
      decreases in the average prices of oil



                                       29
<PAGE>



      and gas sold during the three  months  ended March 31, 1998 as compared to
      the three months ended March 31, 1997.

      The P-3  Partnership  recognized  a non-cash  charge  against  earnings of
      $1,413,917  during the three months ended March 31, 1997.  Of this amount,
      $220,449  was related to a decline in oil and gas prices used to determine
      future  cash flows from the P-3  Partnership's  Net Profits  Interests  in
      proved oil and gas reserves at March 31, 1997 and  $1,193,468  was related
      to the writing-off of Net Profits  Interests in unproved  properties.  The
      General  Partner  determined  that it was  unlikely  that  these  unproved
      properties  would be developed due to the low oil and gas prices  received
      over the prior several years and partnership  agreement  provisions  which
      limit  the  P-3  Partnership's  level  of  permissible  indirect  drilling
      activity through affiliated  programs which own the Working Interests.  No
      similar  charges  were  necessary  during the three months ended March 31,
      1998.

      General and administrative expenses  increased $4,187 (7.7%) for the three
      months  ended  March  31, 1998 as compared to the three months ended March
      31,1997. As a percentage of Net Profits, these expenses increased to 18.7%
      for the three  months ended March 31, 1998 from 10.1% for the three months
      ended March  31, 1997. This percentage  increase was  primarily due to the
      decrease in Net Profits discussed above.

      Cumulative cash  distributions  to the Limited  Partners through March 31,
      1998  were  $14,453,401  or  85.20%  of  the  Limited   Partners'  capital
      contributions.

      P-4 PARTNERSHIP

      THREE  MONTHS  ENDED MARCH 31, 1998 AS COMPARED TO THE THREE  MONTHS ENDED
      MARCH 31, 1997.

                                                 Three Months Ended March 31,
                                                 ----------------------------
                                                    1998             1997
                                                  --------         --------
      Net Profits                                 $240,392         $407,373
      Barrels produced                               4,833            5,414
      Mcf produced                                 104,877          142,615
      Average price/Bbl                           $  14.56         $  21.73
      Average price/Mcf                           $   2.21         $   2.73

      As shown in the table above,  Net Profits  decreased  $166,981 (41.0%) for
      the three  months  ended March 31,  1998 as  compared to the three  months
      ended March 31, 1997. Of this decrease, approximately $35,000 and $55,000,
      respectively,  were related to decreases in the average  prices of oil and
      gas  sold and  approximately  $13,000  and  $103,000,  respectively,  were
      related to decreases in volumes of oil



                                       30
<PAGE>



      and gas sold.  The  decrease  in Net Profits  was  partially  offset by an
      increase of  approximately  $37,000  related to  decreases  in  production
      expenses incurred by the owners of the Working  Interests.  Volumes of oil
      and gas sold decreased 581 barrels and 37,738 Mcf,  respectively,  for the
      three  months  ended March 31, 1998 as compared to the three  months ended
      March 31,  1997.  The decrease in volumes of oil sold  resulted  primarily
      from a normal  decline in production due to diminished oil reserves on two
      significant  wells  during the three  months  ended  March 31,  1998.  The
      decrease  in volumes of gas sold  resulted  primarily  from (i) a positive
      prior period volume  adjustment  made by the purchaser on one  significant
      well  during the three  months  ended  March 31,  1997 and (ii) the normal
      decline in  production  due to  diminished  gas reserves on several  wells
      during the three months ended March 31, 1998.  The decrease in  production
      expenses  resulted  primarily from decreases in (i) volumes of oil and gas
      sold during the three months ended March 31, 1998 as compared to the three
      months  ended March 31,  1997 and (ii)  production  taxes  incurred by the
      owners of the Working  Interests.  Average oil and gas prices decreased to
      $14.56 per barrel and $2.21 per Mcf,  respectively,  for the three  months
      ended   March  31,  1998  from  $21.73  per  barrel  and  $2.73  per  Mcf,
      respectively, for the three months ended March 31, 1997.

      Depletion of Net Profits Interests decreased $47,635 (40.7%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997.  This  decrease  resulted  primarily  from (i) the  decreases in
      volumes of oil and gas sold during the three  months  ended March 31, 1998
      as  compared  to the three  months  ended  March 31,  1997 and (ii) upward
      revisions in the  estimates of remaining  oil and gas reserves at December
      31, 1997. As a percentage of Net Profits, this expense remained relatively
      constant at 28.9% for the three  months  ended March 31, 1998  compared to
      28.7% for the three months ended March 31, 1997.

      The P-4  Partnership  recognized  a non-cash  charge  against  earnings of
      $752,388  during the three months  ended March 31,  1997.  Of this amount,
      $84,059 was  related to a decline in oil and gas prices used to  determine
      future  cash flows from the P-4  Partnership's  Net Profits  Interests  in
      proved oil and gas  reserves at March 31, 1997 and $668,329 was related to
      the  writing-off  of Net Profits  Interests  in unproved  properties.  The
      General  Partner  determined  that it was  unlikely  that  these  unproved
      properties  would be developed due to the low oil and gas prices  received
      over the prior several years and partnership  agreement  provisions  which
      limit  the  P-4  Partnership's  level  of  permissible  indirect  drilling
      activity through affiliated  programs which own the Working Interests.  No
      similar  charges  were  necessary  during the three months ended March 31,
      1998.



                                       31
<PAGE>



      General and administrative expenses increased $5,301 (13.8%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31,  1997.   This  increase   resulted   primarily  from  an  increase  in
      professional fees during the three months ended March 31, 1998 as compared
      to the three months ended March 31, 1997.  As a percentage of Net Profits,
      these  expenses  increased  to 18.1% for the three  months ended March 31,
      1998 from 9.4% for the three months ended March 31, 1997.  This percentage
      increase was primarily due to the decrease in Net Profits discussed above.

      Cumulative cash  distributions  to the Limited  Partners through March 31,
      1998  were  $11,626,945  or  92.05%  of  the  Limited   Partners'  capital
      contributions.

      P-5 PARTNERSHIP

      THREE  MONTHS  ENDED MARCH 31, 1998 AS COMPARED TO THE THREE  MONTHS ENDED
      MARCH 31, 1997.

                                                 Three Months Ended March 31,
                                                 ----------------------------
                                                    1998             1997
                                                  --------         --------
      Net Profits                                 $248,386         $341,315
      Barrels produced                               1,795            2,267
      Mcf produced                                 124,573          146,737
      Average price/Bbl                           $  17.43         $  20.79
      Average price/Mcf                           $   2.33         $   2.59

      As shown in the table above, Net Profits decreased $92,929 (27.2%) for the
      three  months  ended March 31, 1998 as compared to the three  months ended
      March 31,  1997.  Of this  decrease,  approximately  $6,000  and  $32,000,
      respectively,  were related to decreases in the average  prices of oil and
      gas sold and approximately $10,000 and $57,000, respectively, were related
      to decreases  in volumes of oil and gas sold.  The decrease in Net Profits
      was partially  offset by an increase of  approximately  $13,000 related to
      decreases  in  production  expenses  incurred by the owners of the Working
      Interests.  Volumes of oil and gas sold  decreased  472 barrels and 22,164
      Mcf,  respectively,  for the three months ended March 31, 1998 as compared
      to the three months  ended March 31, 1997.  The decrease in volumes of oil
      sold resulted primarily from (i) a positive prior period volume adjustment
      made by the  purchaser  on one  significant  well during the three  months
      ended March 31, 1997 and (ii) the decline in production  due to diminished
      oil  reserves on three  significant  wells  during the three  months ended
      March 31,  1998.  The decrease in volumes of gas sold  resulted  primarily
      from (i) a positive prior period volume  adjustment  made by the purchaser
      on one  significant  well during the three months ended March 31, 1997 and
      (ii) the normal



                                       32
<PAGE>



      decline in  production  due to  diminished  gas reserves on several  wells
      during the three months ended March 31, 1998.  The decrease in  production
      expenses  resulted  primarily from decreases in (i) volumes of oil and gas
      sold during the three months ended March 31, 1998 as compared to the three
      months  ended March 31,  1997 and (ii)  production  taxes  incurred by the
      owners of the Working  Interests.  Average oil and gas prices decreased to
      $17.43 per barrel and $2.33 per Mcf,  respectively,  for the three  months
      ended   March  31,  1998  from  $20.79  per  barrel  and  $2.59  per  Mcf,
      respectively, for the three months ended March 31, 1997.

      Depletion of Net Profits Interests decreased $27,317 (31.9%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997.  This  decrease  resulted  primarily  from (i) the  decreases in
      volumes of oil and gas sold during the three  months  ended March 31, 1998
      as  compared  to the three  months  ended  March 31,  1997 and (ii) upward
      revisions in the  estimates of remaining  oil and gas reserves at December
      31, 1997. As a percentage of Net Profits,  this expense decreased to 23.4%
      for the three  months ended March 31, 1998 from 25.1% for the three months
      ended March 31, 1997.  This  percentage  decrease was primarily due to the
      dollar decrease in Depletion of Net Profits Interests discussed above.

      The P-5  Partnership  recognized  a non-cash  charge  against  earnings of
      $1,018,067  during the three months ended March 31, 1997.  Of this amount,
      $122,458  was related to a decline in oil and gas prices used to determine
      future  cash flows from the P-5  Partnership's  Net Profits  Interests  in
      proved oil and gas  reserves at March 31, 1997 and $895,609 was related to
      the  writing-off  of Net Profits  Interests  in unproved  properties.  The
      General  Partner  determined  that it was  unlikely  that  these  unproved
      properties  would be developed due to the low oil and gas prices  received
      over the prior several years and partnership  agreement  provisions  which
      limit  the  P-5  Partnership's  level  of  permissible  indirect  drilling
      activity through affiliated  programs which own the Working Interests.  No
      similar  charges  were  necessary  during the three months ended March 31,
      1998.

      General and administrative expenses increased $2,329 (6.0%) for the three 
      months  ended  March 31,  1998 as compared to the three months ended March
      31, 1997.As a percentage of Net Profits, these expenses increased to 16.5%
      for the three months ended March 31, 1998 from 11.3% for the three  months
      ended March  31, 1997.  This percentage  increase was primarily due to the
      decrease in Net Profits discussed above.

      Cumulative cash  distributions  to the Limited  Partners through March 31,
      1998  were  $6,561,759  or  55.40%  of  the  Limited   Partners'   capital
      contributions.



                                       33
<PAGE>



      P-6 PARTNERSHIP

      THREE  MONTHS  ENDED MARCH 31, 1998 AS COMPARED TO THE THREE  MONTHS ENDED
      MARCH 31, 1997.

                                                 Three Months Ended March 31,
                                                 ----------------------------
                                                    1998             1997
                                                  --------         --------
      Net Profits                                 $338,028         $544,640
      Barrels produced                               3,661            4,303
      Mcf produced                                 212,576          235,050
      Average price/Bbl                           $  16.05         $  21.24
      Average price/Mcf                           $   2.07         $   2.87

      As shown in the table above,  Net Profits  decreased  $206,612 (37.9%) for
      the three  months  ended March 31,  1998 as  compared to the three  months
      ended  March  31,  1997.  Of  this  decrease,  approximately  $19,000  and
      $170,000, respectively, were related to decreases in the average prices of
      oil and gas sold and approximately $14,000 and $65,000, respectively, were
      related to decreases  in volumes of oil and gas sold.  The decrease in Net
      Profits  was  partially  offset by an increase  of  approximately  $61,000
      related to decreases in production  expenses incurred by the owners of the
      Working  Interests.  Volumes of oil and gas sold decreased 642 barrels and
      22,474 Mcf,  respectively,  for the three  months  ended March 31, 1998 as
      compared to the three months ended March 31, 1997. The decrease in volumes
      of oil sold  resulted  primarily  from (i) a positive  prior period volume
      adjustment made by the purchaser on one significant  well during the three
      months  ended  March 31,  1997 and (ii) a  negative  prior  period  volume
      adjustment made by the purchaser on one significant  well during the three
      months ended March 31, 1998.  The decrease in volumes of gas sold resulted
      primarily  from the normal  decline in production  due to  diminished  gas
      reserves on several  wells  during the three  months ended March 31, 1998.
      The decrease in production  expenses resulted  primarily from decreases in
      (i)  volumes of oil and gas sold during the three  months  ended March 31,
      1998 as  compared  to the  three  months  ended  March  31,  1997 and (ii)
      production taxes incurred by the owners of the Working Interests.  Average
      oil and gas  prices  decreased  to $16.05  per  barrel  and $2.07 per Mcf,
      respectively,  for the three  months  ended March 31, 1998 from $21.24 per
      barrel and $2.87 per Mcf,  respectively,  for the three months ended March
      31, 1997.




                                       34
<PAGE>



      Depletion of Net Profits Interests decreased $55,665 (36.5%) for the three
      months  ended March 31, 1998 as compared to the three  months  ended March
      31, 1997.  This  decrease  resulted  primarily  from (i) the  decreases in
      volumes of oil and gas sold during the three  months  ended March 31, 1998
      as  compared  to the three  months  ended  March 31,  1997 and (ii) upward
      revisions in the  estimates of remaining  oil and gas reserves at December
      31, 1997. As a percentage of Net Profits, this expense remained relatively
      constant at 28.7% for the three  months ended March 31, 1998 and 28.0% for
      the three months ended March 31, 1997.

      The P-6  Partnership  recognized  a non-cash  charge  against  earnings of
      $898,584  during the three months  ended March 31,  1997.  Of this amount,
      $444,990  was related to a decline in oil and gas prices used to determine
      future  cash flows from the P-6  Partnership's  Net Profits  Interests  in
      proved oil and gas  reserves at March 31, 1997 and $453,594 was related to
      the  writing-off  of Net Profits  Interests  in unproved  properties.  The
      General  Partner  determined  that it was  unlikely  that  these  unproved
      properties  would be developed due to the low oil and gas prices  received
      over the prior several years and partnership  agreement  provisions  which
      limit  the  P-6  Partnership's  level  of  permissible  indirect  drilling
      activity through affiliated  programs which own the Working Interests.  No
      similar  charges  were  necessary  during the three months ended March 31,
      1998.

      General and administrative  expenses increased $1,737 (3.6%) for the three
      months ended  March 31,  1998 as  compared to the three months ended March
      31, 1997.  As a  percentage of  Net Profits, these  expenses increased  to
      14.6%  for  the three months ended  March 31, 1998 from 8.7% for the three
      months ended March 31, 1997. This percentage increase was primarily due to
      the decrease in Net Profits discussed above.

      Cumulative cash  distributions  to the Limited  Partners through March 31,
      1998  were  $8,804,248  or  61.55%  of  the  Limited   Partners'   capital
      contributions.





                                       35
<PAGE>



                          PART II. OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

      As further described in the  Partnerships'  Annual Report on Form 10-K for
      the year ended December 31, 1997 (the "Form 10-K"),  the  Partnerships are
      included in the subject matter of a class action lawsuit  entitled "In Re:
      PaineWebber Limited Partnerships' Litigation," Case No. 94-CIV-8558,  U.S.
      District Court, Southern District of New York.

      In early 1996 PaineWebber Incorporated ("PaineWebber") reached settlements
      with  the  class  action   plaintiffs  and  the  Securities  and  Exchange
      Commission (the "SEC") that resolved the above referenced  litigation.  As
      part of the class  settlement,  PaineWebber  paid $125 million (the "Class
      Action  Fund"),  plus  certain  additional  consideration  to  the  class.
      PaineWebber  also  paid  $40  million  to  a  capped  claims  fund  to  be
      independently  administered  on behalf of the SEC (the "SEC  Fund").  Both
      settlement  funds  (in the case of the  Class  Action  Fund,  net of court
      approved  class  counsel  attorney's  fees and  disbursements)  were to be
      allocated  among eligible  limited  partners whose claims were approved by
      the respective Claims Administrators.

      In late March 1998, the Court awarded attorney's fees and disbursements to
      class counsel.  On or about May 8, 1998, the Claims  Administrator for the
      Class Action Fund mailed to eligible  class members the cash  component of
      their settlement  benefits from the Class Action Fund. The General Partner
      has  been  advised  that in late May  1998  the SEC  Claims  Administrator
      expects  to  mail  to  each  eligible   class  member  his  or  her  claim
      determination with the preliminary settlement amount, if any, from the SEC
      Fund.

      A further  description of the settlement is included  within the Form 10-K
      referred to above.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

      (a)    Exhibits

             27.1       Financial  Data Schedule  containing  summary  financial
                        information   extracted   from  the  P-1   Partnership's
                        financial  statements  as of March 31,  1998 and for the
                        three months ended March 31, 1998, filed herewith.





                                       36
<PAGE>




             27.2       Financial  Data Schedule  containing  summary  financial
                        information   extracted   from  the  P-2   Partnership's
                        financial  statements  as of March 31,  1998 and for the
                        three months ended March 31, 1998, filed herewith.
                 
             27.3       Financial  Data Schedule  containing  summary  financial
                        information   extracted   from  the  P-3   Partnership's
                        financial  statements  as of March 31,  1998 and for the
                        three months ended March 31, 1998, filed herewith.
                 
             27.4       Financial  Data Schedule  containing  summary  financial
                        information   extracted   from  the  P-4   Partnership's
                        financial  statements  as of March 31,  1998 and for the
                        three months ended March 31, 1998, filed herewith.
                 
             27.5       Financial  Data Schedule  containing  summary  financial
                        information   extracted   from  the  P-5   Partnership's
                        financial  statements  as of March 31,  1998 and for the
                        three months ended March 31, 1998, filed herewith.
                 
             27.6       Financial  Data Schedule  containing  summary  financial
                        information   extracted   from  the  P-6   Partnership's
                        financial  statements  as of March 31,  1998 and for the
                        three months ended March 31, 1998, filed herewith.

                        All other exhibits are omitted as inapplicable.

      (b) Reports on Form 8-K.

            Current report on Form 8-K filed during the first quarter of 1998:

            Date of event:                January 29, 1998
            Date filed with SEC:          January 30, 1998
            Items included
                  Item 5 - Other Events
                  Item 7 - Exhibits




                                       37
<PAGE>



                                  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.


                             GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-1
                                LIMITED PARTNERSHIP 
                             GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME P-2
                                LIMITED  PARTNERSHIP  
                             GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED
                                PARTNERSHIP P-3  
                             GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED
                                PARTNERSHIP P-4  
                             GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED
                                PARTNERSHIP P-5  
                             GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED
                                PARTNERSHIP P-6

                                    (Registrant)

                             BY:   GEODYNE RESOURCES, INC.

                                   General Partner


Date:  May 13, 1998          By:       /s/Dennis R. Neill
                                  --------------------------------
                                        (Signature)
                                        Dennis R. Neill
                                        President


Date:  May 13, 1998          By:      /s/Patrick M. Hall
                                  --------------------------------
                                       (Signature)
                                       Patrick M. Hall
                                       Principal Accounting Officer



                                       38
<PAGE>



INDEX TO EXHIBITS


NUMBER      DESCRIPTION
------      -----------

27.1        Financial Data Schedule  containing  summary  financial  information
            extracted from the Geodyne  Institutional/Pension  Energy Income P-1
            Limited Partnership's  financial statements as of March 31, 1998 and
            for the three months ended March 31, 1998, filed herewith.

27.2        Financial Data Schedule  containing  summary  financial  information
            extracted from the Geodyne  Institutional/Pension  Energy Income P-2
            Limited Partnership's  financial statements as of March 31, 1998 and
            for the three months ended March 31, 1998, filed herewith.

27.3        Financial Data Schedule  containing  summary  financial  information
            extracted  from  the  Geodyne  Institutional/Pension  Energy  Income
            Limited Partnership P-3's financial  statements as of March 31, 1998
            and for the three months ended March 31, 1998, filed herewith.

27.4        Financial Data Schedule  containing  summary  financial  information
            extracted  from  the  Geodyne  Institutional/Pension  Energy  Income
            Limited Partnership P-4's financial  statements as of March 31, 1998
            and for the three months ended March 31, 1998, filed herewith.

27.5        Financial Data Schedule  containing  summary  financial  information
            extracted  from  the  Geodyne  Institutional/Pension  Energy  Income
            Limited Partnership P-5's financial  statements as of March 31, 1998
            and for the three months ended March 31, 1998, filed herewith.

27.6        Financial Data Schedule  containing  summary  financial  information
            extracted  from  the  Geodyne  Institutional/Pension  Energy  Income
            Limited Partnership P-6's financial  statements as of March 31, 1998
            and for the three months ended March 31, 1998, filed herewith.

            All other exhibits are omitted as inapplicable.