FORM 10-Q

                          SECURITIES AND EXCHANGE COMMISSION

                               Washington, D.C.  20549


     {X} QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
         EXCHANGE ACT OF 1934

     For the Quarterly Period Ended September 30, 1996

                                          OR

     { } TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934


     Commission file number 0-10267


                                C&K 1980 FUND-B, LTD.
                (Exact name of registrant as specified in its charter)


                    Texas                                  76-0307698    
        (State or other jurisdiction of                (I.R.S.  Employer
        incorporation or organization)                 Identification No.)

      7555 East Hampden Avenue, Suite 600
                 Denver, CO                                  80231        
   (Address of principal executive offices)               (Zip Code)

     Registrant's telephone number, including area code:        303-695-3600


          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.

                                      X           
                                     Yes       No

              The C&K 1980 Fund-B, Ltd. is a Texas limited partnership.
<PAGE>


                                  INDEX TO FORM 10-Q
                                C&K 1980 Fund-B, Ltd.


     PART I.    FINANCIAL INFORMATION

     Item 1.    Financial Statements

                Balance Sheets
                September 30, 1996 and December 31, 1995

                Statements of Operations
                Three months and nine months ended September 30, 1996 and 1995

                Statements of Changes in Partners' Capital
                Nine months ended September 30, 1996 and 1995

                Statements of Cash Flows
                Nine months ended September 30, 1996 and 1995

                Notes to the Financial Statements


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

     PART II.   OTHER INFORMATION

     Item 1.    Legal Proceedings

     Item 2.    Changes in Securities

     Item 3.    Defaults upon Senior Securities

     Item 4.    Submission of Matters to a Vote of 
                Security Holders

     Item 5.    Other Information

     Item 6.    Exhibits and Reports on Form 8-K


     SIGNATURE
<PAGE>


                                C&K 1980 FUND-B, LTD.
                            (A Texas Limited Partnership)
                                    BALANCE SHEETS
                                     (Unaudited)


                                        ASSETS

                                                   September 30,    December 31,
                                                       1996             1995


     Current Assets:

         Cash                                     $    261,742    $   261,194

         Receivable from General Partner               429,039        210,885

         Total Current Assets                          690,781        472,079

     Oil and gas properties and equipment,
         at cost, using the full cost
         method of accounting                       22,494,518     22,381,049

     Less:  Accumulated depreciation,
         depletion and amortization                (19,070,482)   (18,562,098)

                                                     3,424,036      3,818,951

     Total Assets                                 $  4,114,817    $ 4,291,030



                          LIABILITIES AND PARTNERS' CAPITAL


     Accrued liabilities                          $      9,739    $    16,823

     Partners' Capital
         General Partner                               886,953      1,000,751
         Limited Partners                            2,450,409      2,391,556
         Combining adjustment                          767,716        881,900

         Total Partners  Capital                     4,105,078      4,274,207

     Total Liabilities and
         Partners' Capital                        $  4,114,817    $ 4,291,030

[FN]
      The accompanying notes are an integral part of these financial statements.
<PAGE>

                                C&K 1980 FUND-B, LTD.
                            (A Texas Limited Partnership)
                               STATEMENTS OF OPERATIONS
                                     (Unaudited)


                                   Three months ended     Nine months ended
                                     September 30,          September 30,
                                     1996      1995       1996         1995

     Revenues:
       Oil and gas sales          $573,257   $350,464  $1,609,174   $1,207,824
       Interest income               2,202      3,412       6,486       11,320
                                   575,459    353,876   1,615,660    1,219,144

     Expenses:
       Lease operating              65,168     84,355     197,402      251,701
       Production tax               36,416     19,689     101,850       69,314
       Marketing deductions         48,324     56,540     139,642      181,130
       Depreciation, depletion
          and amortization         178,798    100,931     508,384      346,455

       General and administrative   49,064     46,093     142,612      155,598

          Total Expenses           377,770    307,608   1,089,890    1,004,198

     Net income                   $197,689   $ 46,268  $  525,770   $  214,946

     Net income (loss) allocation:
       General Partner            $141,215   $ 45,098  $  381,101   $  191,020
       Limited Partners             96,564     24,480     258,853      104,263
       Combining adjustment        (40,090)   (23,310)   (114,184)     (80,337)

     Net income                   $197,689   $ 46,268  $  525,770   $  214,946

     Net income per limited
      partnership unit
      (1,210 outstanding)         $  79.80   $  20.23  $   213.93   $    86.17
[FN]
      The accompanying notes are an integral part of these financial statements.
<PAGE>

                                C&K 1980 FUND-B, LTD.
                            (A Texas Limited Partnership)
                      STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
                                     (Unaudited)


                                   Nine months ended September 30, 1995        
                                                       Combining
                              General     Limited     Adjustment
                              Partner     Partners     (Note 3)      Total

     Balance at
      January 1, 1995       $1,123,291   $2,816,513    $987,447    $4,927,251

     Contributions             194,645      --            --          194,645
     Distributions            (478,807)    (600,000)      --       (1,078,807)
     Net income (loss)         191,020      104,263     (80,337)      214,946

     Balance at
      September 30, 1995    $1,030,149   $2,320,776    $907,110    $4,258,035



                                   Nine months ended September 30, 1996 
                                                      Combining
                              General     Limited    Adjustment
                              Partner    Partners     (Note 3)       Total

     Balance at
      January 1, 1996       $1,000,751  $2,391,556     $ 881,900  $4,274,207

     Contributions             189,007         --          --        189,007
     Distributions            (683,906)   (200,000)        --       (883,906)
     Net income (loss)         381,101     258,853      (114,184)    525,770

     Balance at
      September 30, 1996    $  886,953  $2,450,409     $ 767,716  $4,105,078
[FN]
      The accompanying notes are an integral part of these financial statements.
<PAGE>


                                C&K 1980 FUND-B, LTD.
                            (A Texas Limited Partnership)
                               STATEMENTS OF CASH FLOWS
                                     (Unaudited)


                                                            Nine months ended
                                                              September 30,
                                                             1996      1995


     Cash flows from operating activities:
       Net income                                        $ 525,770  $ 214,946
       Adjustments to reconcile net income to
          net cash provided by operating activities:
           Depreciation, depletion and amortization        508,384    346,455
           Changes in operating assets and liabilities:
            (Increase) decrease in receivable from
             General Partner                              (218,154)    27,775
            (Decrease) increase in accrued liabilities      (7,084)      --

          Net cash provided by operating activities        808,916    589,176

     Cash flows from investing activities:
       Additions to oil and gas properties
          and equipment                                   (113,469)   (53,118)

          Net cash used in investing activities           (113,469)   (53,118)

     Cash flows from financing activities:
       Distributions to General Partner                   (683,906)  (478,807)
       Contributions by General Partner                    189,007    194,645
       Distributions to Limited Partners                  (200,000)  (600,000)

          Net cash used in financing activities           (694,899)  (750,039)

          Net (decrease) increase in cash                      548   (213,981)

     Cash at beginning of period                           261,194    473,041

     Cash at end of period                               $ 261,742  $ 259,060

[FN]
      The accompanying notes are an integral part of these financial statements.
<PAGE>


                                C&K 1980 FUND-B, LTD.
                            (A Texas Limited Partnership)
                            NOTES TO FINANCIAL STATEMENTS
                                     (Unaudited)


     NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

       Organization

          The C&K 1980 Fund-B, Ltd. (the "Partnership"), a Texas Limited
     Partnership, was organized on January 29, 1980, to acquire, explore,
     develop and operate onshore oil and gas properties in the United States and
     commenced operations on October 15, 1980.  Total initial Limited Partner
     contributions were $6,050,000 including $100,000 contributed by C&K
     Petroleum, Inc. ("C&K"), the initial General Partner.  On August 25, 1981,
     C&K requested the Limited Partners to pay an additional assessment of
     $1,512,500, or 25% of their initial contributions.  Of this amount, C&K
     paid $157,500 for thirty-two Limited Partners who declined to pay their
     share of the additional assessments.

          C&K, after several corporate reorganizations beginning in September of
     1984 and ending in December of 1991, was acquired by Ultramar Oil and Gas
     Limited ( UOGL ), an indirect wholly-owned subsidiary of LASMO plc. 
     Effective November 18, 1992, UOGL was sold to Williams-Cody Limited
     Liability Company, ( WCLLC ), a Wyoming limited liability company owned by
     Williams Gas Management Company ("WGMan") and Cody Resources, Inc.
     ("CRI").  On January 1, 1993, UOGL changed its name to Williams-Cody, Inc.
     ("Williams-Cody").

           Effective May 1, 1993, Cody Company, a wholly owned subsidiary of
     The Gates Corporation, purchased the units of WCLLC owned by WGMan.  As a
     result of this acquisition, the unit holders of WCLLC are Cody Company and
     its wholly owned subsidiary, Cody Resources, Inc.  Subsequently, effective
     May 15, 1993, the name of Williams-Cody, Inc. was changed to CODY ENERGY,
     INC. ("CODY"), and the name of Williams-Cody Limited Liability Company was
     changed to Gates-Cody Energy Company ("GCEC"), a Limited Liability
     Company.  CODY is the surviving corporation and, pursuant to the authority
     provided in the Partnership Agreement, manages and controls the
     Partnership's affairs and is responsible for the activities of the
     Partnership.

       Basis of Accounting

          The accounts of the Partnership are maintained on the accrual basis in
     accordance with accounting practices permitted for federal income tax
     reporting purposes.  In order to present the accompanying financial
     statements on the basis of generally accepted accounting principles for
     financial reporting purposes, adjustments have been made to account for oil
     and gas properties under the full cost method of accounting.

       Oil and Gas Properties

          The Partnership uses the full cost method of accounting for oil and
     gas properties in accordance with rules prescribed by the Securities and
     Exchange Commission ("SEC").  Under this method, all costs incurred in
     connection with the exploration for and development of oil and gas reserves
     are capitalized.  Such capitalized costs include lease acquisition,
     geological and geophysical work, delay rentals, drilling, completing and
     equipping oil and gas wells and other related costs together with costs
     applicable to CODY's technical personnel directly engaged in evaluating and
     maintaining oil and gas prospects and drilling oil and gas wells. 
     Maintenance and repairs are charged against income when incurred.  Renewals
     and betterments which extend the useful life of properties are capitalized.

          The capitalized costs of all oil and gas properties are depleted on a
     composite units-of-revenue method computed on a future gross revenue
     basis.  An additional depletion provision is made if the total
     capitalized costs of oil and gas properties exceed the "capitalization
     ceiling" which is calculated as the present value of future net revenues
     for estimated production of the Partnership's proved oil and gas reserves
     as furnished by independent petroleum engineers.

          Future gross revenues have been estimated using rules prescribed by
     the SEC.  Under these rules, year-end prices are utilized in determining
     future gross revenues.

       Net Income (Loss) per Limited Partnership Unit

          Net income (loss) per limited partnership unit is computed by
     obtaining the Limited Partners  net income (loss) (see Statements of
     Changes in Partners' Capital) and dividing by the total limited partnership
     units outstanding.

       Contributions and Distributions

          Contributions by the General Partner, as presented in the Statements
     of Changes in Partners' Capital, represent amounts paid by the General
     Partner for its allocated share of the Partnership's costs and expenses. 
     Distributions to the General Partner represent amounts collected by the
     General Partner for its allocated share of the Partnership's revenues. 
     Distributions to Limited Partners represent periodic payments of available
     cash, as determined in accordance with the terms of the Partnership
     Agreement.

       Receivable from the General Partner

          The receivable from the General Partner consists of the Limited
     Partners' share of proceeds from the sales of the Partnership's crude oil
     and natural gas, net of related operating and general and administrative
     expenses.  The General Partner acts as the collection agent for the
     Partnership's receivables and remits sales revenues collected in the period
     received.  The Partnership has no recourse against the General Partner for
     amounts deemed uncollectible.

       Revenue Recognition

          The Partnership recognizes oil and gas revenues for only its ownership
     percentage of total production under the entitlement method.  Purchase,
     sale and transportation of natural gas and crude oil are recognized upon
     completion of the sale and when transported volumes are delivered.

       Concentration of Credit Risk

          Financial instruments which subject the Partnership to concentrations
     of credit risk consist principally of trade receivables.  The Partnership s
     policy is to evaluate, prior to entering agreements, each purchaser s
     financial condition.  The Partnership sells to purchasers with different
     geographic and economic characteristics.  Trade receivables, which are
     generally uncollateralized, are from oil and gas companies located
     throughout the United States.

       Use of Estimates

          The preparation of the Partnership s financial statements in
     conformity with generally accepted accounting principles necessarily
     requires management to make estimates and assumptions that affect the
     reported amounts of assets and liabilities and disclosure of contingent
     assets and liabilities at the balance sheet dates and the reported amounts
     of revenues and expenses during the reporting periods.  Actual results
     could differ from those estimates.

       Reclassifications

          Certain amounts from prior years have been reclassified to be
     consistent with the financial statements presentation for 1996.  Such
     reclassifications had no effect on net income.


     NOTE 2 - GAS CONTRACT

          Since June 1, 1993, Williams Gas Marketing has purchased all of the 
     Partnership's natural gas production under an agreement that calls for
     market responsive prices which are tied to a published index.  The
     Partnership remains responsible for all costs related to production,
     gathering, processing or severance of the gas prior to Delivery Point. 
     These costs have been recorded as marketing deductions in the financial
     statements.


     NOTE 3 - ALLOCATION OF PARTNERSHIP REVENUES, COSTS AND EXPENSES

          The Partnership Agreement provides that revenues, costs and expenses
     shall be allocated to the partners as follows:


                                                        Limited        General
                                                        Partners       Partner

     REVENUES

      Sale of Production   . . . . . . . . . . . . . . . .  50%           50%
      Sale of Equipment  . . . . . . . . . . . . . . . . .  50            50
      Interest Income  . . . . . . . . . . . . . . . . . .  99             1

     COSTS AND EXPENSES

      Organization and Offering Expenses Other than
       Sales Commissions   . . . . . . . . . . . . . . . .   0           100
      Leasehold Acquisition Costs  . . . . . . . . . . . .   0           100
      Subsequent Leasehold Acquisition Costs   . . . . . .  50            50
      Intangible Drilling Costs  . . . . . . . . . . . . .  99             1
      Tangible Drilling and Completion Costs Relating to
       Commercially Productive Wells   . . . . . . . . . .   0           100
      Post-Completion Costs  . . . . . . . . . . . . . . .  50            50
      Operating Costs  . . . . . . . . . . . . . . . . . .  50            50
      Special Costs  . . . . . . . . . . . . . . . . . . .  99             1
      General and Administrative Expenses  . . . . . . . .  50            50

         The depreciation, depletion and amortization provision is calculated
     based on discrete calculations utilizing the Partnership's and the
     partners' share of the related capital costs and estimated future net
     revenues.  For financial statement purposes, each partner's depreciation,
     depletion and amortization provision has been increased by the amount that
     his share of unamortized costs exceeded the capitalization ceiling.  At
     September 30, 1996 and 1995, the net capitalized costs of the Partnership s
     oil and gas properties did not exceed the capitalization ceiling.

         The combining adjustment included in the partners  capital of $767,716
     and $907,110 at September 30, 1996 and 1995, respectively, represents the
     difference resulting from computing the full cost ceiling test in prior
     years on the total partnership basis, which is used for financial reporting
     purposes, and the limited partners and general partner basis.  The
     adjustment is an allocation of partners  capital and does not affect net
     income.


     NOTE 4 - PURCHASE OF LIMITED PARTNERS' INTERESTS

         The Limited Partners may require the General Partner to purchase up to
     ten percent of their interests annually.  The purchase price is based on
     the Limited Partners' proportionate share of the sum of (i) two-thirds of
     the present worth of estimated future net revenues discounted at the prime
     rate in effect on the applicable valuation date plus one percent, (ii) the
     present value of the estimated salvage value of all production facilities
     and tangible assets, and (iii) the net book value of all other assets and
     liabilities.

         In addition to the 20 units purchased by the General Partner for its
     initial capital contribution, a total of 733.66 units had been purchased
     from Limited Partners as of December 31, 1995.  At January 1, 1996, the
     General Partner calculated a purchase price of $1,552.25 per unit for
     Limited Partners who paid the additional assessment ( assessed Limited
     Partners ) and $1,241.80 per unit for Limited Partners who had not paid the
     additional assessment ( nonassessed Limited Partners ).  Within the
     prescribed tender period, which ended June 30, 1996, eighteen Limited
     Partners tendered 38.66667 assessed units and no unassessed units for a
     total repurchase amount of $60,020.34.


     NOTE 5 - SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

         The General Partner is reimbursed for administrative and overhead costs
     incurred in conducting the business of the Partnership.  Such
     reimbursements have been the maximum allowed under the terms of the
     Partnership Agreement and were $136,125 for each nine month period ended
     September 30, 1996 and 1995.

         The Partnership distributes to each Limited Partner his proportionate
     share of cash funds credited to his capital account which is in excess of
     the amounts necessary to meet such partners share of existing or future
     obligations of the Partnership.  Distributions were made to the Limited
     Partners for the nine month period ended September 30, 1996 in the amount
     of $200,000; compared to $600,000 distributed to the Limited Partners for
     the corresponding period in 1995.  During the first nine months of 1996 and
     1995, the Partnership distributed $683,906 and $478,807, respectively, to
     the General Partner for its allocated share of net revenues, and the
     General Partner contributed $189,007 and $194,645, respectively, for its
     allocated share of costs and expenses.


     NOTE 6 - INCOME TAXES

         Income taxes are not levied at the Partnership level, but rather on the
     individual partners; therefore, no provision for liability for federal and
     state income taxes has been reflected in the accompanying financial
     statements.  The tax returns, the qualification of the Partnership as a
     partnership for tax purposes and the amount of the Partnership's income or
     loss is subject to examination by federal and state tax authorities.  If
     such examinations result in changes with respect to the Partnership's
     qualifications or in changes in the Partnership's income or loss, the tax
     liability of the partners could be changed accordingly.


     NOTE 7 - CONTINGENCIES

         The General Partner is currently considering either transferring its
     limited partner and general partnership interests in the Partnership,
     withdrawing as general partner of the Partnership, or taking other actions
     to reduce its responsibilities in the Partnership, which could lead to the
     ultimate dissolution of the Partnership.  This condition raises substantial
     doubt about the Partnership's ability to continue as a going concern.  As
     long as CODY remains the General Partner of the Partnership, GCEC intends
     to, if necessary, advance the funds required by the Partnership in excess
     of those generated by operations through CODY.  The accompanying financial
     statements do not include any adjustments that might result from the
     outcome of this uncertainty.
<PAGE>


                                C&K 1980 FUND-B, LTD.


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

     LIQUIDITY AND CAPITAL RESOURCES

         Net cash provided by/used in operating activities for the nine months
     ended September 30, 1996 was $808,916, compared to $589,176 of net cash
     used in the corresponding period in 1995.  This increase resulted primarily
     from higher oil and gas revenues.

         Capital expenditures during the first nine months of 1996 were
     $113,469, primarily attributable to the drilling of the C. Montalvo well in
     the Mestena Grande Field in Jim Hogg County, Texas.  Capital expenditures
     during the same period in 1995 were $53,118, primarily attributable to the
     drilling of one well, which was unsuccessful.  The Partnership has no
     immediate plans for additional exploratory or developmental capital
     programs, except those necessary to maintain well productivity for 1996.

         During the first nine months of 1996 and 1995, the Partnership
     distributed $683,906 and $478,807, respectively, to the General Partner for
     their share of net revenues.  During these same periods, the General
     Partner's contribution (allocated share of costs and expenses incurred) was
     $189,007 and $194,645, respectively.  A cash distribution of $200,000 was
     made to the Limited Partners in May of 1996 compared to $600,000
     distributed to the Limited Partners in August of 1995.  The lower cash
     distribution to date in 1996 is due to the anticipated capital expenditures
     for drilling in the fourth quarter.

         The Partnership's financing requirements for operating expenses and
     development capital are currently provided by revenues from its producing
     operations.  The Partnership does not consider long-term financing
     arrangements, either with the General Partner or other sources, as
     necessary at this time.

         The Partnership cannot predict with any degree of certainty the prices
     it will receive in the remainder of 1996 or in future years for its crude
     oil and natural gas.  The Partnership s financial condition, operating
     results and liquidity will continue to be materially affected by any
     significant fluctuations in sales prices.  The Partnership's ability to
     internally generate funds for capital expenditures will be similarly
     affected.


     RESULTS OF OPERATIONS

      Three Months Ended September 30, 1996 vs. Three Months Ended September
     30, 1995

         Net income for the third quarter ended September 30, 1996 was $197,689,
     an increase of $151,421 or 327% from net income of $46,268 reported for the
     same period in 1995.  This increase resulted primarily from increases in
     natural gas and plant products production and sales prices for crude oil,
     natural gas and plant products.  The completion of the C. Montalvo well,
     which had first production in March, 1996 contributed significantly to the
     increase in natural gas production.

         Crude oil and natural gas sales for the three months ended September
     30, 1996 of $573,257 increased $222,793 or 64% compared to the same period
     in 1995.  Crude oil production was 53 barrels per day, natural gas
     production was 1,651 mcf per day, and plant products were 882 equivalent
     mcf per day during this period, compared to the 1995 level of 54 barrels,
     1,438 mcf, and 700 equivalent mcf per day, respectively.  In the third
     quarter of 1996, average sales prices increased for crude oil to $20.75 per
     barrel, for natural gas to $2.13 per mcf, and for plant products to $1.81
     per equivalent mcf, compared to $16.22 per barrel, $1.42 per mcf and $1.27
     per equivalent mcf, respectively, in 1995.  Interest income decreased
     $1,210 or 35% in the third quarter of 1996 compared to the corresponding
     period in 1995 due to a reduction in cash available for investment
     subsequent to a third quarter, 1995 cash distribution to the Limited
     Partners.

         Lease operating expense for the three months ended September 30, 1996
     decreased $19,187 or 23% compared to the same period in 1995.  During the
     third quarter of 1995, ad valorem tax accruals were adjusted to cover
     expected property tax increases for the first nine months of 1995. 
     Property taxes for 1996 were expected to be below 1995 levels.  Production
     tax expense for the third quarter of 1996 increased by $16,727 or 85%
     compared to the third quarter of 1995, due primarily to the increase in oil
     and gas revenues.  Marketing deductions were $48,324 for the three months
     ended September 30, 1996, a decrease of $8,216 or 15% compared to the same
     period in 1995.  The Partnership s transportation and marketing costs
     decreased in 1996 due to a favorable change in gathering and transportation
     rates provided by a new transporter, effective February 1, 1996. 
     Depreciation, depletion and amortization expense increased by $77,867 or
     77% in 1996 compared to the same period in 1995 as a result of the
     increased production in 1996.  General and administrative expenses for the
     three months ended September 30, 1996 increased by $2,971 or 6% compared to
     the same period in 1995.


      Nine Months Ended September 30, 1996 vs. Nine Months Ended September 30,
     1995

         Net income for the nine months ended September 30, 1996 was $525,770,
     an increase of $310,824 or 145% from net income of $214,946 reported for
     the same period in 1995.  This increase resulted mainly from increases in
     sales prices for crude oil, natural gas and plant products.

         Crude oil and natural gas sales for the nine months ended September 30,
     1996 was $1,609,174, an increase of $401,350 or 33% compared to the same
     period in 1995.  This increase is due to the higher sales prices.  Crude
     oil production was 53 barrels per day, natural gas production was 1,568 mcf
     per day and plant products were 805 equivalent mcf per day during this
     period, compared to the 1995 level of 56 barrels, 1,532 mcf, and 835
     equivalent mcf per day, respectively, during this period.  In the third
     quarter of 1996, average sales prices increased for crude oil to $20.75 per
     barrel, for natural gas to $2.13 per mcf, and for plant products to $1.81
     per equivalent mcf, compared to $16.22 per barrel, $1.42 per mcf, and $1.27
     per equivalent mcf for plant products, respectively, in 1995.  Interest
     income decreased $4,834 or 43% in 1996 due to a reduction in cash available
     for investment subsequent to a third quarter, 1995 cash distribution to the
     Limited Partners.

         Lease operating expense for the nine months ended September 30, 1996
     decreased $54,299 or 22%, compared to the same period in 1995.  This
     decrease is primarily due to an expected decrease in ad valorem taxes for
     1996, offset slightly by additional operating expenses incurred with the
     completion of the C. Montalvo well.  Production taxes for the first nine
     months of 1996 increased $32,536 or 47% compared to the first nine months
     of 1995, due primarily to the increase in oil and gas revenues in 1996. 
     Marketing deductions were $139,642 for the nine months ending September 30,
     1996, a decrease of $41,488 or 23% compared to the same period in 1995. 
     The Partnership's transportation and marketing costs decreased in 1996 due
     to a favorable change in gathering and transportation rates provided by a
     new transporter effective February 1, 1996.  Depreciation, depletion and
     amortization expense increased by $161,929 or 47% compared to 1995 as a
     result of increased revenue in 1996.  General and administrative expenses
     for the nine months ended September 30, 1996 decreased $12,986 or 8%
     compared to the same period in 1995, due primarily to a reduction in
     auditing and tax charges.
<PAGE>


                             PART II - OTHER INFORMATION
                                C&K 1980 FUND-B, LTD.


     Item 1.  Legal Proceedings

              None.

     Item 2.  Changes in Securities

              None.

     Item 3.  Defaults Upon Senior Securities

              None.

     Item 4.  Submission of Matters to a Vote of Security Holders

              Not applicable.

     Item 5.  Other Information

              None.

     Item 6.  Exhibits and Reports on Form 8-K

              None.
<PAGE>


                                      SIGNATURE


         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.



                                           C&K 1980 Fund-B, Ltd.
                                           (Registrant)


                                       By: /s/ Dan R. Taylor
                                           Dan R. Taylor
                                           Vice President - Finance
                                           CODY ENERGY, INC.
                                           Successor General Partner





     DATE: November 12, 1996
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