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


                                    FORM 10-Q


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

                For the quarterly period ended September 30, 1997

                                       or

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

                          Commission File No. 2-81398B

                           PARKER & PARSLEY 83-B, LTD.
             (Exact name of Registrant as specified in its charter)

            Texas                                              75-1907245
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                           Identification Number)


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

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

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

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

                                Yes / x / No / /

                               Page 1 of 12 pages.
                           Exhibit index on page 11.



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                           PARKER & PARSLEY 83-B, LTD.

                                TABLE OF CONTENTS


                                                                           Page
                          Part I. Financial Information

Item 1.   Financial Statements

          Balance Sheets as of September 30, 1997 and
             December 31, 1996   ........................................    3

          Statements of Operations for the three and nine
            months ended September 30, 1997 and 1996.....................    4

          Statement of Partners' Capital for the nine months
            ended September 30, 1997.....................................    5

          Statements of Cash Flows for the nine months ended
            September 30, 1997 and 1996..................................    6

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

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



                           Part II. Other Information

Item 6.   Exhibits and Reports on Form 8-K...............................   11


          27.   Financial Data Schedule

          Signatures.....................................................   12





                                        2

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                           PARKER & PARSLEY 83-B, LTD.
                          (A Texas Limited Partnership)

                          Part I. Financial Information

Item 1.   Financial Statements

                                 BALANCE SHEETS

                                                   September 30,    December 31,
                                                       1997             1996
                                                   -------------   -------------
                                                    (Unaudited)
                 ASSETS

Current assets:
   Cash and cash equivalents, including interest
    bearing deposits of $261,317 at September 30
    and $228,437  at December 31                   $    261,817    $    228,937
   Accounts receivable - oil and gas sales              208,060         349,015
                                                    -----------     -----------

         Total current assets                           469,877         577,952
                                                    -----------     -----------

Oil and gas properties - at cost, based on the
   successful efforts accounting method
Accumulated depletion                                19,520,734      19,519,571
                                                    (14,834,136)    (14,559,884)
                                                    -----------     -----------

         Net oil and gas properties                   4,686,598       4,959,687
                                                    -----------     -----------

                                                   $  5,156,475    $  5,537,639
                                                    ===========     ===========

LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
   Accounts payable - affiliate                    $     68,755    $     48,087

Partners' capital:
   General partners                                     568,339         629,059
   Limited partners (23,370 interests)                4,519,381       4,860,493
                                                    -----------     -----------

                                                      5,087,720       5,489,552
                                                    -----------     -----------

                                                   $  5,156,475    $  5,537,639
                                                    ===========     ===========




The financial information included as of September 30, 1997 has been prepared by
          management without audit by independent public accountants.

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

                                        3

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                           PARKER & PARSLEY 83-B, LTD.
                          (A Texas Limited Partnership)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)



                                  Three months ended        Nine months ended
                                     September 30,            September 30,
                                ----------------------   ----------------------
                                   1997        1996         1997        1996
                                ----------  ----------   ----------  ----------

Revenues:
  Oil and gas                   $ 411,409   $ 511,155   $1,444,365   $1,596,286
  Interest                          4,175       4,314       12,589       10,781
  Litigation settlement               -           -            -      1,392,304
  Gain on disposition of assets    15,884      18,597       32,384       67,179
                                 --------    --------    ---------    ---------
                                  431,468     534,066    1,489,338    3,066,550
                                 --------    --------    ---------    ---------

Costs and expenses:
  Oil and gas production          235,796     239,457      750,283      731,300
  General and administrative       13,903      16,613       47,669       51,709
  Depletion                        87,808      78,379      274,252      280,963
  Abandoned property                2,639      10,417        2,639       33,950
                                 --------    --------    ---------    ---------
                                  340,146     344,866    1,074,843    1,097,922
                                 --------    --------    ---------    ---------

Net income                      $  91,322   $ 189,200   $  414,495   $1,968,628
                                 ========    ========    =========    =========
Allocation of net income:
  General partners              $  34,405   $  58,149   $  141,384   $  480,140
                                 ========    ========    =========    =========
  Limited partners              $  56,917   $ 131,051   $  273,111   $1,488,488
                                 ========    ========    =========    =========
Net income per limited
  partnership interest          $    2.44   $    5.61   $    11.69   $    63.69
                                 ========    ========    =========    =========
Distributions per limited
  partnership interest          $    6.91   $    8.20   $    26.28   $    70.63
                                 ========    ========    =========    =========




   The financial information included herein has been prepared by management
                without audit by independent public accountants.

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

                                        4

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                           PARKER & PARSLEY 83-B, LTD.
                          (A Texas Limited Partnership)

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)




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

Balance at January 1, 1997         $    629,059    $  4,860,493    $  5,489,552

    Distributions                      (202,104)       (614,223)       (816,327)

    Net income                          141,384         273,111         414,495
                                    -----------      ----------     -----------

Balance at September 30, 1997      $    568,339    $  4,519,381    $  5,087,720
                                    ===========     ===========     ===========




   The financial information included herein has been prepared by management
                without audit by independent public accountants.

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

                                        5

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                           PARKER & PARSLEY 83-B, LTD.
                          (A Texas Limited Partnership)

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)



                                                           Nine months ended
                                                              September 30,
                                                       -------------------------
                                                           1997         1996
                                                       -----------  ------------
Cash flows from operating activities:

  Net income                                           $  414,495   $ 1,968,628
  Adjustments to reconcile net income to net
    cash provided by operating activities:
      Depletion                                           274,252       280,963
      Gain on disposition of assets                       (32,384)      (67,179)
  Changes in assets and liabilities:
      (Increase) decrease in accounts receivable          140,955       (22,207)
      Increase (decrease) in accounts payable              20,668       (23,011)
                                                       ----------    ----------

         Net cash provided by operating activities        817,986     2,137,194
                                                       ----------    ----------
Cash flows from investing activities:

  Additions to oil and gas properties                      (1,163)       (1,433)
  Proceeds from disposition of assets                      32,384        67,179
                                                       ----------    ----------

         Net cash provided by investing activities         31,221        65,746
                                                       ----------    ----------
Cash flows from financing activities:

  Cash distributions to partners                         (816,327)   (2,146,908)
                                                       ----------    ----------

Net increase in cash and cash equivalents                  32,880        56,032
Cash and cash equivalents at beginning of period          228,937       244,107
                                                       ----------    ----------

Cash and cash equivalents at end of period           $    261,817   $   300,139
                                                      ===========    ==========



   The financial information included herein has been prepared by management
                without audit by independent public accountants.

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

                                        6

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                           PARKER & PARSLEY 83-B, LTD.
                          (A Texas Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                               September 30, 1997
                                   (Unaudited)

Note 1.   Basis of presentation

In the opinion of  management,  the unaudited  financial  statements of Parker &
Parsley  83-B,  Ltd.  (the  "Partnership")  as of September 30, 1997 and for the
three and nine months ended  September 30, 1997 and 1996 include all adjustments
and accruals  consisting only of normal recurring  accrual  adjustment which are
necessary for a fair  presentation of the results for the interim period.  These
interim results are not necessarily indicative of results for a full year.

Certain  information  and  footnote  disclosure  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have been  condensed  or  omitted  in this Form 10-Q  pursuant  to the rules and
regulations of the Securities and Exchange Commission.  The financial statements
should  be read in  conjunction  with the  financial  statements  and the  notes
thereto  contained in the  Partnership's  Report on Form 10-K for the year ended
December 31, 1996, as filed with the Securities and Exchange Commission,  a copy
of which is available upon request by writing to Rich Dealy,  Vice President and
Controller, 303 West Wall, Suite 101, Midland, Texas 79701.

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

As of August 8, 1997, Pioneer Natural Resources USA, Inc. ("Pioneer USA") became
the managing  general partner of the  Partnership,  joining the existing general
partner,  P&P Employees 83-B, Ltd. ("EMPL"),  a Texas limited  partnership whose
general partner is Pioneer USA, and 23,370 limited partners as of March 8, 1997.
Prior to August 8, 1997,  the  Partnership's  managing  general  partner and the
general  partner  of EMPL was Parker & Parsley  Development  L.P.  ("PPDLP"),  a
wholly-owned  subsidiary  of  Parker &  Parsley  Petroleum  Company  ("Parker  &
Parsley").  On  August  7,  1997,  Parker  &  Parsley  and  Mesa  Inc.  received
shareholder  approval  to merge and create  Pioneer  Natural  Resources  Company
("Pioneer").  On August 8, 1997,  PPDLP was merged with and into  Pioneer USA, a
wholly-owned  subsidiary  of  Pioneer,  resulting  in Pioneer USA  becoming  the
managing  general  partner of the Partnership and the general partner of EMPL as
PPDLP's  successor by merger.  For a more complete  description  of the Parker &
Parsley and Mesa Inc. merger, see Pioneer's  Registration  Statement on Form S-4
as filed with the Securities & Exchange Commission.

Results of Operations

Nine months ended September 30, 1997 compared with nine months ended
  September 30, 1996

Revenues:

The  Partnership's  oil  and  gas  revenues  decreased  10% to  $1,444,365  from
$1,596,286 for the nine months ended  September 30, 1997 as compared to the nine

                                        7

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months  ended  September  30,  1996.  The  decrease  was a result of declines in
barrels  of oil and mcf of gas  produced  and  sold  and a lower  average  price
received per barrel of oil,  offset by an increase in the average price received
per mcf of gas. For the nine months ended September 30, 1997,  50,567 barrels of
oil were sold  compared  to 55,394 for the same  period in 1996,  a decrease  of
4,827 barrels,  or 9%. For the nine months ended September 30, 1997, 180,227 mcf
of gas were sold  compared to 201,191 for the same period in 1996, a decrease of
20,964 mcf, or 10%.  The  production  volume  decreases  were due to the decline
characteristics of the Partnership's oil and gas properties.  Management expects
a certain  amount of decline in  production  to continue in the future until the
Partnership's economically recoverable reserves are fully depleted.

The average price received per barrel of oil decreased $1.16, or 6%, from $20.98
for the nine months  ended  September  30, 1996 to $19.82 for the same period in
1997,  while the average price  received per mcf of gas increased 13% from $2.16
for the nine  months  ended  September  30, 1996 to $2.45 for the same period in
1997. The market price for oil and gas has been  extremely  volatile in the past
decade, and management expects a certain amount of volatility to continue in the
foreseeable  future.  The  Partnership may therefore sell its future oil and gas
production at average prices lower or higher than that received  during the nine
months ended September 30, 1997.

On April 29, 1996, Southmark  Corporation,  the managing general partner and the
Partnership entered into a final $7.4 million settlement  agreement with Jack N.
Price resolving all outstanding litigation between the parties. As a result, all
of the pending lawsuits and judgments have been dismissed,  the supersedeas bond
released,  and the Reserve  released as  collateral.  On June 28,  1996, a final
distribution  was made to the  working  interest  owners  of  $1,392,304,  which
included  $1,094,360,  or  $46.83  per  limited  partnership  interest,  to  the
Partnership and its partners.

Gain on disposition of assets was comprised of a gain on abandoned properties of
$32,384 and $50,718  attributable to proceeds received from equipment credits on
two fully depleted wells,  abandoned  during the nine months ended September 30,
1997 and September 30, 1996, respectively, and salvage income of $16,461 for the
nine months  ended  September  30,  1996,  that was derived from the disposal of
equipment  on wells  plugged and  abandoned in prior  years.  Expenses  incurred
during the nine months ended September 30, 1997 and 1996 to plug and abandon two
wells were $2,639 and $33,950, respectively.

Costs and Expenses:

Total costs and  expenses  decreased  to  $1,074,843  for the nine months  ended
September  30,  1997 as compared to  $1,097,922  for the same period in 1996,  a
decrease of $23,079.  This  decrease was due to declines in  abandoned  property
costs, depletion,  and general and administrative expenses ("G&A"), offset by an
increase in production costs.

Production  costs were $750,283 for the nine months ended September 30, 1997 and
$731,300 for the same period in 1996  resulting in an $18,983  increase,  or 3%.
The increase was due to additional  workover  expenses  incurred in an effort to
stimulate well production.

G&A's  components are independent  accounting and engineering  fees and managing
general  partner  personnel  and  operating  costs.   During  this  period,  G&A
decreased, in aggregate, 8% from $51,709 for the nine months ended September 30,
1996 to $47,669 for the same period in 1997.


                                        8

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Depletion was $274,252 for the nine months ended  September 30, 1997 compared to
$280,963  for the same period in 1996,  representing  a decrease of $6,711.  The
decrease was due to the decline in oil  production of 4,827 barrels for the nine
months ended September 30, 1997 as compared with same period in 1996,  offset by
a decrease in oil reserves in 1997 due to lower commodity prices.

Three months ended September 30, 1997 compared with three months ended September
  30, 1996

Revenues:

The Partnership's  oil and gas revenues  decreased 20% to $411,409 from $511,155
for the three  months ended  September  30, 1997 as compared to the three months
ended  September  30, 1996.  The decrease was a result of a lower  average price
received  per  barrel  of oil  and  declines  in  barrels  of oil and mcf of gas
produced and sold,  offset by an increase in the average price  received per mcf
of gas. For the three months ended  September  30, 1997,  15,437  barrels of oil
were sold  compared to 17,421 for the same  period in 1996,  a decrease of 1,984
barrels or 11%. For the three months ended September 30, 1997, 61,614 mcf of gas
were sold  compared to 65,090 for the same  period in 1996,  a decrease of 3,476
mcf, or 5%. The  production  volume  decreases were primarily due to the decline
characteristics of the Partnership's oil and gas properties.

The average  price  received per barrel of oil  decreased  $3.33,  or 15%,  from
$21.76 for the three  months  ended  September  30,  1996 to $18.43 for the same
period in 1997,  while  the  average  price  received  per mcf of gas  increased
slightly  from $2.03 for the three months ended  September 30, 1996 to $2.06 for
the same period in 1997.

Gain on disposition of assets was comprised of a gain on abandoned properties of
$15,884  attributable to proceeds  received from equipment  credits on two fully
depleted  wells,  abandoned  during the three months ended  September  30, 1997.
During  the same  period in 1996,  a gain of  $18,597  on  abandoned  properties
resulted from proceeds  received from  equipment  credits on one fully  depleted
property.  Expenses  incurred  during three months ended  September 30, 1997 and
1996 to plug and  abandon  two  uneconomical  wells  were  $2,639  and  $10,417,
respectively.

Costs and Expenses:

Total costs and  expenses  decreased  to  $340,146  for the three  months  ended
September  30,  1997 as compared  to  $344,866  for the same  period in 1996,  a
decrease of $4,720.  This  decrease  was due to declines in  abandoned  property
costs, production costs, and G&A, offset by an increase in depletion.

Production costs were $235,796 for the three months ended September 30, 1997 and
$239,457  for the  same  period  in 1996  resulting  in a $3,661  decrease.  The
decrease was due to lower production taxes.

G&A's  components are independent  accounting and engineering  fees and managing
general  partner  personnel  and  operating  costs.   During  this  period,  G&A
decreased,  in aggregate,  16% from $16,613 for the three months ended September
30, 1996 to $13,903 for the same period in 1997.


                                        9

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Depletion was $87,808 for the three months ended  September 30, 1997 compared to
$78,379 for the same period in 1996, representing an increase of $9,429, or 12%,
partially  attributable  to a decrease in oil  reserves in the third  quarter of
1997 as a result of lower commodity prices.

Liquidity and Capital Resources

Net Cash Provided by Operating Activities

Net cash provided by operating  activities  decreased $1,319,208 during the nine
months ended  September 30, 1997 from the same period ended  September 30, 1996.
This decrease was  primarily due to the receipt of proceeds from the  litigation
settlement received in 1996 as discussed in Item 2, offset by an increase in oil
and gas sales receipts and a decrease in production costs paid.

Net Cash Provided by Investing Activities

The  Partnership's  investing  activities  during  for  the  nine  months  ended
September  30,  1997  and  1996  included   expenditures  related  to  equipment
replacement on various oil and gas properties.

Proceeds of $32,384 and $67,179  received during the nine months ended September
30, 1997 and 1996,  respectively,  were from the salvage of  equipment  on wells
abandoned during 1996.

Net Cash Used in Financing Activities

Cash was  sufficient  for the nine  months  ended  September  30,  1997 to cover
distributions  to the partners of $816,327 of which $202,104 was  distributed to
the general partners and $614,223 to the limited  partners.  For the same period
ended September 30, 1996, cash was sufficient for  distributions to the partners
of  $2,146,908 of which  $496,323 was  distributed  to the general  partners and
$1,650,585  to the  limited  partners.  Cash  distributions  to the  partners of
$2,146,980 for the nine months ended September 30, 1996 included $297,944 to the
general partners and $1,094,360 to the limited partners, resulting from proceeds
received in the litigation settlement as discussed in Item 2.

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

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

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








                                       10

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                           Part II. Other Information

Item 6.   Exhibits and Reports on Form 8-K

(a)    Exhibits

       27.  Financial Data Schedule

(b)    Reports on Form 8-K - none



                                                        11

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                           PARKER & PARSLEY 83-B, LTD.
                          (A Texas Limited Partnership)



                               S I G N A T U R E S



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


                                          PARKER & PARSLEY 83-B, LTD.

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




Dated:  November 10, 1996        By:      /s/ Rich Dealy
                                          ------------------------------------
                                          Rich Dealy, Vice President and
                                            Controller



                                       12

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