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


                                    FORM 10-Q


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

                  For the quarterly period ended March 31, 2001


                          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)


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


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

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


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

                                Yes / x / No / /






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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 March 31, 2001 and
               December 31, 2000......................................    3

            Statements of Operations for the three months
              ended March 31, 2001 and 2000...........................    4

            Statement of Partners' Capital for the three months
              ended March 31, 2001....................................    5

            Statements of Cash Flows for the three months
              ended March 31, 2001 and 2000...........................    6

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

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


                           Part II. Other Information

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

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



                                        2

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

                          Part I. Financial Information

Item 1.      Financial Statements
<TABLE>

                                 BALANCE SHEETS


                                                    March 31,      December 31,
                                                      2001             2000
                                                  ------------     ------------
                                                  (Unaudited)

                      ASSETS

<S>                                               <C>              <C>
Current assets:
   Cash                                           $    199,783     $    224,865
   Accounts receivable - oil and gas sales             316,380          369,349
                                                   -----------      -----------
            Total current assets                       516,163          594,214
                                                   -----------      -----------
Oil and gas properties - at cost, based on the
   successful efforts accounting method             18,961,997       18,957,070
Accumulated depletion                              (17,272,688)     (17,248,214)
                                                   -----------      ------------
            Net oil and gas properties               1,689,309        1,708,856
                                                   -----------      -----------
                                                  $  2,205,472     $  2,303,070
                                                   ===========      ===========

LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
   Accounts payable - affiliate                   $     43,415     $     39,862

Partners' capital:
   General partners                                    292,844          316,574
   Limited partners (23,370 interests)               1,869,213        1,946,634
                                                   -----------      -----------
                                                     2,162,057        2,263,208
                                                   -----------      -----------
                                                  $  2,205,472     $  2,303,070
                                                   ===========      ===========




  The financial information included as of March 31, 2001 has been prepared by
  the managing general partner without audit by independent public accountants.

   The accompanying notes are an integral part of these financial statements.
</TABLE>

                                        3

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

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)


<TABLE>

                                                       Three months ended
                                                            March 31,
                                                    -------------------------
                                                       2001           2000
                                                    ----------     ----------

<S>                                                 <C>            <C>
Revenues:
   Oil and gas                                      $  567,450     $  550,469
   Interest                                              4,255          3,909
   Gain on disposition of assets                           -            3,923
                                                     ---------      ---------
                                                       571,705        558,301
                                                     ---------      ---------
Costs and expenses:
   Oil and gas production                              278,432        232,950
   General and administrative                           20,536         16,889
   Depletion                                            24,474         29,860
                                                     ---------      ---------
                                                       323,442        279,699
                                                     ---------      ---------
Net income                                          $  248,263     $  278,602
                                                     =========      =========
Allocation of net income:
   General partners                                 $   66,275     $   73,635
                                                     =========      =========
   Limited partners                                 $  181,988     $  204,967
                                                     =========      =========
Net income per limited partnership interest         $     7.79     $     8.77
                                                     =========      =========



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

   The accompanying notes are an integral part of these financial statements.
</TABLE>

                                        4

<PAGE>



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

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)



<TABLE>


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


<S>                                    <C>            <C>            <C>
Balance at January 1, 2001             $  316,574     $1,946,634     $2,263,208

   Distributions                          (90,005)      (259,409)      (349,414)

   Net income                              66,275        181,988        248,263
                                        ---------      ---------      ---------

Balance at March 31, 2001              $  292,844     $1,869,213     $2,162,057
                                        =========      =========      =========







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

   The accompanying notes are an integral part of these financial statements.
</TABLE>

                                        5

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

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>


                                                         Three months ended
                                                              March 31,
                                                      ------------------------
                                                         2001          2000
                                                      ----------    ----------

<S>                                                   <C>           <C>
Cash flows from operating activities:
  Net income                                          $  248,263    $  278,602
  Adjustments to reconcile net income to
      net cash provided by operating activities:
        Depletion                                         24,474        29,860
        Gain on disposition of assets                        -          (3,923)
Changes in assets and liabilities:
  Accounts receivable                                     52,969       (33,759)
  Accounts payable                                         3,553         7,667
                                                       ---------     ---------
         Net cash provided by operating activities       329,259       278,447
                                                       ---------     ---------
Cash flows from investing activities:
  Additions to oil and gas properties                     (4,927)         (303)
  Proceeds from disposition of assets                        -           3,923
                                                       ---------     ---------
         Net cash provided by (used in) investing
           activities                                     (4,927)        3,620
                                                       ---------     ---------
Cash flows used in financing activities:
  Cash distributions to partners                        (349,414)     (272,131)
                                                       ---------     ---------
Net increase (decrease) in cash                          (25,082)        9,936
Cash at beginning of period                              224,865       244,091
                                                       ---------     ---------
Cash at end of period                                 $  199,783    $  254,027
                                                       =========     =========




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

   The accompanying notes are an integral part of these financial statements.
</TABLE>

                                        6

<PAGE>



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

                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 2001
                                   (Unaudited)

Note 1.     Organization and nature of organization

Parker &  Parsley  83-B,  Ltd.  (the  "Partnership")  is a  limited  partnership
organized in 1983 under the laws of the State of Texas.

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

Note 2.     Basis of presentation

In  the  opinion  of  management,  the  unaudited  financial  statements  of the
Partnership as of March 31, 2001 include all adjustments and accruals consisting
only of normal  recurring  accrual  adjustments  which are  necessary for a fair
presentation  of the results for the interim  period.  These interim results are
not necessarily indicative of results for a full year. Certain reclassifications
may have been made to the March 31, 2000 financial  statements to conform to the
March 31, 2001 financial statement presentations.

Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with generally accepted accounting  principles
have been  condensed  or  omitted  in this Form 10-Q  pursuant  to the rules and
regulations of the Securities and Exchange Commission.  The financial statements
should  be read in  conjunction  with the  financial  statements  and the  notes
thereto  contained in the  Partnership's  Report on Form 10-K for the year ended
December 31, 2000, as filed with the Securities and Exchange Commission,  a copy
of which is available upon request by writing to Rich Dealy,  Vice President and
Chief Accounting Officer,  5205 North O'Connor  Boulevard,  1400 Williams Square
West, Irving, Texas 75039-3746.

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

Results of Operations

Revenues:

The  Partnership's  oil and gas revenues  increased 3% to $567,450 for the three
months ended March 31, 2001 as compared to $550,469 for the same period in 2000.
The increase in revenues resulted from higher average prices received, offset by
a decrease in  production.  For the three months  ended March 31,  2001,  10,605
barrels of oil, 5,172 barrels of natural gas liquids  ("NGLs") and 29,602 mcf of
gas were  sold,  or 20,711  barrel of oil  equivalents  ("BOEs").  For the three
months ended March 31, 2000,  13,733  barrels of oil,  8,049 barrels of NGLs and
35,379 mcf of gas were sold, or 27,679 BOEs.

                                        7

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The average price received per barrel of oil increased  $.73, or 3%, from $27.66
for the three months ended March 31, 2000 to $28.39 for the same period in 2001.
The average  price  received per barrel of NGLs  increased  $5.18,  or 38%, from
$13.48 for the three  months  ended March 31, 2000 to $18.66 for the same period
in 2001.  The average price  received per mcf of gas  increased  226% from $1.76
during the three  months  ended  March 31,  2000 to $5.74 for the same period in
2001. 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 three
months ended March 31, 2001.

A gain on  disposition  of assets  of $3,923  during  2000 was  recognized  from
equipment credits received on one fully depleted well.

Costs and Expenses:

Total costs and expenses  increased to $323,442 for the three months ended March
31, 2001 as compared  to  $279,699  for the same period in 2000,  an increase of
$43,743,  or 16%.  This  increase was due to increases in  production  costs and
general and administrative expenses ("G&A"), offset by a decline in depletion.

Production  costs were  $278,432  for the three  months ended March 31, 2001 and
$232,950 for the same period in 2000  resulting in a $45,482  increase,  or 20%.
The increase was primarily due to additional workover and well maintenance costs
incurred to stimulate well  production and higher  production  taxes  associated
with higher oil and gas prices.

G&A's  components are independent  accounting and engineering  fees and managing
general partner  personnel and  administrative  costs.  During this period,  G&A
increased  22% from $16,889 for the three months ended March 31, 2000 to $20,536
for the  same  period  in 2001  primarily,  due to a  higher  percentage  of the
managing  general  partner's G&A being  allocated  (limited to 3% of oil and gas
revenues) as a result of  increased  oil and gas revenues and an increase in the
accrual for tax preparation fees.

Depletion  was $24,474 for the three  months ended March 31, 2001 as compared to
$29,860 for the same period in 2000, a decrease of $5,386, or 18%. This decrease
was primarily due to a reduction in the  Partnership's net depletable basis from
charges taken in accordance with Statement of Financial Accounting Standards No.
121,  "Accounting  for the  Impairment of Long-Lived  Assets and for  Long-Lived
Assets to be Disposed Of" ("SFAS  121") during the fourth  quarter of 2000 and a
decline in oil  production of 3,128 barrels for the three months ended March 31,
2001 compared to the same period in 2000.

Liquidity and Capital Resources

Net Cash Provided by Operating Activities:

Net cash provided by operating  activities  increased  $50,812  during the three
months  ended March 31, 2001 from the same period in 2000.  The increase was due


                                        8

<PAGE>



to an  increase  of $17,327 in oil and gas sales  receipts  and a  reduction  in
working capital of $82,614,  offset by increases in production  costs of $45,482
and G&A expenses of $3,647.  The increase in oil and gas receipts  resulted from
the increase in commodity  prices  during 2001 which  contributed  an additional
$192,976 to oil and gas receipts,  offset by $175,649 resulting from the decline
in production  during 2001 as compared to the same period in 2000.  The increase
in  production  costs  was  primarily  due  to  additional   workover  and  well
maintenance costs incurred to stimulate well production and increased production
taxes  associated  with  higher  oil and gas  prices.  The  increase  in G&A was
primarily due to a higher percentage of the managing general partner's G&A being
allocated  (limited to 3% of oil and gas  revenues) as a result of increased oil
and gas revenues and an increase in the accrual for tax preparation fees.

Cash Provided by (Used in) Investing Activities:

The Partnership's investing activities for the three months ended March 31, 2001
and 2000 were for  expenditures  related to oil and gas  equipment  upgrades  on
active properties.

Proceeds from disposition of assets of $3,923 recognized during the three months
ended March 31,  2000 were from equipment credits received on one fully depleted
well.

Net Cash Used in Financing Activities:

For the three months ended March 31, 2001,  cash  distributions  to the partners
were  $349,414,  of which $90,005 was  distributed  to the general  partners and
$259,409 to the limited partners. For the same period ended March 31, 2000, cash
distributions to the partners were $272,131, of which $68,700 was distributed to
the general partners and $203,431 to the limited partners.

Proposal to acquire partnerships

On April  17,  2001,  Pioneer  Natural  Resources  Company  ("Pioneer")  filed a
preliminary  proxy   statement/prospectus   with  the  Securities  and  Exchange
Commission  proposing an agreement  and plan of merger  among  Pioneer,  Pioneer
Natural  Resources  USA, Inc.  ("Pioneer  USA"),  a wholly- owned  subsidiary of
Pioneer,  and the limited partners of 46 Parker & Parsley limited  partnerships.
Each  partnership  that  approves the agreement and plan of merger and the other
related  merger  proposals  will  merge  with  and  into  Pioneer  USA,  and the
partnership  interests of each such partnership will be converted into the right
to receive cash and Pioneer  common  stock.  Pioneer USA is the sole or managing
general partner of the  partnerships.  The Partnership is one of the 46 Parker &
Parsley limited  partnerships  being requested to approve the agreement and plan
of merger.  The  preliminary  proxy  statement/prospectus  is non-binding and is
subject to, among other  things,  consideration  of offers from third parties to
purchase any  partnership  or its assets,  the majority  approval of the limited
partnership  interests in each  partnership and the resolution of Securities and
Exchange  Commission  review  comments.  No  solicitation  will  be  made  using
preliminary materials.

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

(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.

                                        9

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                           Part II. Other Information


Item 6.      Exhibits and Reports on Form 8-K

(a)    Exhibits - none

(b)    Reports on Form 8-K - none.




                                       10

<PAGE>


                           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:  May 8, 2001           By:      /s/ Rich Dealy
                                       -------------------------------------
                                       Rich Dealy, Vice President
                                         and Chief Accounting Officer


                                       11

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