FORM 10-Q


                    SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C.  20549

(MARK ONE)

(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

For the transition period from ________________ to ________________

Commission File Number 33-47668-01

         SOUTHWEST ROYALTIES INSTITUTIONAL 1992-93 INCOME PROGRAM
         Southwest Royalties Institutional Income Fund XI-A, L.P.
                  (Exact name of registrant as specified
                   in its limited partnership agreement)

Delaware                                           75-2427297    
(State or other jurisdiction of                (I.R.S. Employer  
incorporation or organization)                Identification No.)


                       407 N. Big Spring, Suite 300
                           Midland, Texas 79701          
                 (Address of principal executive offices)

                              (915) 686-9927         
                      (Registrant's telephone number,
                           including area code)

Indicate by check mark whether 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      

         The total number of pages contained in this report is 14.

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                      PART I. - FINANCIAL INFORMATION


Item 1. Financial Statements

The unaudited condensed financial statements included herein have been
prepared by the Registrant (herein also referred to as the "Partnership") in
accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-Q and Rule 10-01
of Regulation S-X.  Accordingly, they do not include all of the information
and footnotes required by generally accepted accounting principles for
complete financial statements.  In the opinion of management, all adjustments
necessary for a fair presentation have been included and are of a normal
recurring nature.  The financial statements should be read in conjunction
with the audited financial statements and the notes thereto for the year
ended December 31, 1995 which are found in the Registrant's Form 10-K Report
for 1995 filed with the Securities and Exchange Commission.  The December 31,
1995 balance sheet included herein has been taken from the Registrant's 1995
Form 10-K Report.  Operating results for the three and nine month periods
ended September 30, 1996 are not necessarily indicative of the results that
may be expected for the full year.

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         Southwest Royalties Institutional Income Fund XI-A, L.P.

                              Balance Sheets


                                               September 30,   December 31,
                                                   1996            1995  
                                               -------------   ------------
                                                (unaudited)

     Assets

Current assets:
  Cash and cash equivalents                  $     18,552          73,533
  Receivable from Managing 
   General Partner                                131,905          74,521
                                                ---------       ---------
    Total current assets                          150,457         148,054
                                                ---------       ---------
Oil and gas properties - using the
 full cost method of accounting                 2,150,198       2,156,397
  Less accumulated depreciation, 
   depletion and amortization                     485,000         315,000
                                                ---------       ---------
    Net oil and gas properties                  1,665,198       1,841,397
                                                ---------       ---------
Organization costs, net                            11,643          20,608
                                                ---------       ---------
                                             $  1,827,298       2,010,059
                                                =========       =========
     Liabilities and Partners' Equity


Partners' equity:                            
  General partners                           $     (3,086)         (3,600)
  Limited partners                              1,830,384       2,013,659
                                                ---------       ---------
    Total partners' equity                      1,827,298       2,010,059
                                                ---------       ---------
                                             $  1,827,298       2,010,059
                                                =========       =========

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         Southwest Royalties Institutional Income Fund XI-A, L.P.

                         Statements of Operations
                                (unaudited)


                                 Three Months Ended     Nine Months Ended   
                                    September 30,         September 30,
                                   1996       1995      1996       1995  

     Revenues

Income from net profits
 interests                    $    85,587     79,539    327,272    282,860
Interest                              558      1,080      1,785      3,906
Miscellaneous income               41,666       -        41,666       -   
                                  -------    -------    -------    -------
                                  127,811     80,619    370,723    286,766
                                  -------    -------    -------    -------

     Expenses

General and administrative         10,795     10,519     39,416     39,600
Depreciation, depletion and
 amortization                      55,123     53,580    177,283    178,740
                                  -------    -------    -------    -------
                                   65,918     64,099    216,699    218,340
                                  -------    -------    -------    -------
Net income                    $    61,893     16,520    154,024     68,426
                                  =======    =======    =======    =======
Net income allocated to:

  Managing General Partner    $     6,782      6,309     26,068     22,245
                                  =======    =======    =======    =======
  General Partner             $       754        701      2,896      2,472
                                  =======    =======    =======    =======
  Limited Partners            $    54,357      9,510    125,060     43,709
                                  =======    =======    =======    =======
    Per limited partner
     unit                     $     10.03       1.76      23.08       8.07
                                  =======    =======    =======    =======

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         Southwest Royalties Institutional Income Fund XI-A, L.P.

                         Statements of Cash Flows
                                (unaudited)


                                                        Nine Months Ended 
                                                          September 30,
                                                         1996       1995 

Cash flows from operating activities:

  Cash received from income from net 
   profits interests                                $   311,554    276,760
  Cash paid to suppliers                                (39,416)   (39,600)
  Interest received                                       1,785      3,970
                                                        -------    -------
    Net cash provided by operating 
     activities                                         273,923    241,130
                                                        -------    -------
Cash flows from investing activities:

  Cash received from sale of oil
   and gas property interest                              6,199    129,574
  Additions to oil and gas properties                       -      (92,313) 
  Refund of organization costs                            1,682       -   
                                                        -------    -------
    Net cash provided by investing 
     activities                                           7,881     37,261
                                                        -------    -------
Cash flows used in financing activities:

  Distributions to partners                            (336,785)  (301,971)
                                                        -------    -------
Net decrease in cash and cash equivalents               (54,981)   (23,580)

  Beginning of period                                    73,533    154,502
                                                        -------    -------
  End of period                                     $    18,552    130,922
                                                        =======    =======

                                                                (continued)

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         Southwest Royalties Institutional Income Fund XI-A, L.P.

                    Statements of Cash Flows, continued
                                (unaudited)


                                                        Nine Months Ended 
                                                          September 30,
                                                         1996       1995 

Reconciliation of net income to
 net cash provided by operating 
  activities:

Net income                                          $   154,024     68,426

Adjustments to reconcile net income
 to net cash provided by operating
  activities:

    Depreciation, depletion and 
     amortization                                       177,283    178,740
    Increase in receivables                             (57,384)    (6,036) 
                                                        -------    -------
Net cash provided by operating
 activities                                         $   273,923    241,130
                                                        =======    =======

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

General

Southwest Royalties Institutional Income Fund XI-A, L.P. (the Partnership)
was organized as a Delaware limited partnership on May 5, 1992.  The offering
of such limited partnership interests began August 20, 1992, as part of a
shelf offering registered under the name Southwest Royalties Institutional
1992-93 Income Program.  Minimum capital requirements for the Partnership
were met on December 10, 1992 and the offering concluding April 30, 1993 with
total limited partner contributions of $2,709,000.

The Partnership was formed to acquire royalty and net profits interests in
producing oil and gas properties, to produce and market crude oil and natural
gas produced from such properties, and to distribute the net proceeds from
operations to the limited and general partners.  Net revenues from producing
oil and gas properties will not be reinvested in other revenue producing
assets except to the extent that production facilities and wells are improved
or reworked or where methods are employed to improve or enable more efficient
recovery of oil and gas reserves.

Increases or decreases in Partnership revenues and, therefore, distributions
to partners will depend primarily on changes in the prices received for
production, changes in volumes of production sold, lease operating expenses,
enhanced recovery projects, offset drilling activities pursuant to farm-out
arrangements, sales of properties, and the depletion of wells.  Since wells
deplete over time, production can generally be expected to decline from year
to year.

Well operating costs and general and administrative costs usually decrease
with production declines; however, these costs may not decrease
proportionately.  Net income available for distribution to the partners is
therefore expected to fluctuate in later years based on these factors.

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Results of Operations

A.  General Comparison of the Quarters Ended September 30, 1996 and 1995

The following table provides certain information regarding performance
factors for the quarters ended September 30, 1996 and 1995:

                                               Three Months
                                                  Ended         Percentage
                                               September 30,     Increase
                                              1996      1995    (Decrease)
                                              ----      ----    ----------

Average price per barrel of oil          $   21.11     16.08        31% 
Average price per mcf of gas             $    1.84      1.59        16% 
Oil production in barrels                    5,000     4,700         6% 
Gas production in mcf                       50,500    60,400       (16%)
Income from net profits interests        $  85,587    79,539         8% 
Partnership distributions                $ 124,682   133,000        (6%)
Limited partner distributions            $ 112,382   119,700        (6%)
Per unit distribution to limited
 partners                                $   20.74     22.09        (6%)
Number of limited partner units              5,418     5,418


Revenues

The Partnership's income from net profits interests increased to $85,587 from
$79,539 for the quarters ended September 30, 1996 and 1995, respectively, an
increase of 8%.  The principal factors affecting the comparison of the
quarters ended September 30, 1996 and 1995 are as follows:

1.  The average price for a barrel of oil received by the Partnership
    increased during the quarter ended September 30, 1996 as compared to the
    quarter ended September 30, 1995 by 31%, or $5.03 per barrel, resulting
    in an increase of approximately $23,600 in income from net profits
    interests.  Oil sales represented 53% of total oil and gas sales during
    the quarter ended September 30, 1996 as compared to 44% during the
    quarter ended September 30, 1995.

    The average price for an mcf of gas received by the Partnership increased
    during the same period by 16%, or $.25 per mcf, resulting in an increase
    of approximately $15,100 in income from net profits interests.  

    The total increase in income from net profits interests due to the change
    in prices received from oil and gas production is approximately $38,700. 
    The market price for oil and gas has been extremely volatile over the
    past decade, and management expects a certain amount of volatility to
    continue in the foreseeable future.

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2.  Oil production increased approximately 300 barrels or 6% during the
    quarter ended September 30, 1996 as compared to the quarter ended
    September 30, 1995, resulting in an increase of approximately $6,300 in
    income from net profits interests.

    Gas production decreased approximately 9,900 mcf or 16% during the same
    period, resulting in a decrease of approximately $18,200 in income from
    net profits interests.

    The net total decrease in income from net profits interests due to the
    change in production is approximately $11,900.  The decrease in gas
    production is a result of property sales and surface problems.

3.  Lease operating costs and production taxes were 23% higher, or
    approximately $21,300 more during the quarter ended September 30, 1996 as
    compared to the quarter ended September 30, 1995.  The increase is a
    result of workover costs incurred in 1996.

Costs and Expenses 

Total costs and expenses increased to $65,918 from $64,099 for the quarters
ended September 30, 1996 and 1995, respectively, an increase of 3%.  The
increase is the result of higher general and administrative expense and
depletion expense.

1.  General and administrative costs consists of independent accounting and
    engineering fees, computer services, postage, and Managing General
    Partner personnel costs.  General and administrative costs increased 3%
    or approximately $300 during the quarter ended September 30, 1996 as
    compared to the quarter ended September 30, 1995.  

2.  Depletion expense increased to $53,000 for the quarter ended September
    30, 1996 from $51,000 for the same period in 1995.  This represents an
    increase of 4%.  Depletion is calculated using the gross revenue method
    of amortization based on a percentage of current period gross revenues to
    total future gross oil and gas revenues, as estimated by the
    Partnership's independent petroleum consultants.  Consequently, depletion
    will generally fluctuate in direct relation to oil and gas revenues.  As
    noted above, oil and gas revenues increased due to an increase in price
    and production for the quarter ended September 30, 1996 as compared to
    the same period for 1995.  Depletion reflected a comparable increase.

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B.  General Comparison of the Nine Month Periods Ended September 30, 1996 and
    1995

The following table provides certain information regarding performance
factors for the nine month periods ended September 30, 1996 and 1995:

                                                                
                                                Nine Months
                                                  Ended         Percentage
                                               September 30,     Increase
                                              1996      1995    (Decrease)
                                              ----      ----    ----------

Average price per barrel of oil          $   21.01     16.94        24% 
Average price per mcf of gas             $    2.08      1.57        32% 
Oil production in barrels                   15,000    15,900        (6%)
Gas production in mcf                      152,000   193,400       (21%)
Income from net profits interests        $ 327,272   282,860        16% 
Partnership distributions                $ 336,785   301,805        12% 
Limited partner distributions            $ 308,335   274,905        12% 
Per unit distribution to limited         
 partners                                $   56.91     50.74        12% 
Number of limited partner units              5,418     5,418


Revenues

The Partnership's income from net profits interests increased to $327,272
from $282,860 for the nine months ended September 30, 1996 and 1995,
respectively, an increase of 16%.  The principal factors affecting the
comparison of the nine months ended September 30, 1996 and 1995 are as
follows:

1.  The average price for a barrel of oil received by the Partnership
    increased during the nine months ended September 30, 1996 as compared to
    the nine months ended September 30, 1995 by 24%, or $4.07 per barrel,
    resulting in an increase of approximately $64,700 in income from net
    profits interests.  Oil sales represented 50% of total oil and gas sales
    during the nine months ended September 30, 1996 as compared to 47% during
    the nine months ended September 30, 1995.

    The average price for an mcf of gas received by the Partnership increased
    during the same period by 32%, or $.51 per mcf, resulting in an increase
    of approximately $98,600 in income from net profits interests.  

    The total increase in income from net profits interests due to the change
    in prices received from oil and gas production is approximately $163,300. 
    The market price for oil and gas has been extremely volatile over the
    past decade, and management expects a certain amount of volatility to
    continue in the foreseeable future.

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2.  Oil production decreased approximately 900 barrels or 6% during the nine
    months ended September 30, 1996 as compared to the nine months ended
    September 30, 1995, resulting in a decrease of approximately $18,900 in
    income from net profits interests.

    Gas production decreased approximately 41,400 mcf or 21% during the same
    period, resulting in a decrease of approximately $86,100 in income from
    net profits interests.

    The total decrease in income from net profits interests due to the change
    in production is approximately $105,000.  The decrease is primarily a
    result of property sales and surface problems.

3.  Lease operating costs and production taxes were 5% higher, or
    approximately $14,800 more during the nine months ended September 30,
    1996 as compared to the nine months ended September 30, 1995.  

Costs and Expenses

Total costs and expenses decreased to $216,699 from $218,340 for the nine
months ended September 30, 1996 and 1995, respectively, a decrease of 1%. 
The decrease is the result of lower general and administrative expense and
depletion expense.

1.  General and administrative costs consists of independent accounting and
    engineering fees, computer services, postage, and Managing General
    Partner personnel costs.  General and administrative costs decreased less
    than 1% or approximately $200 during the nine months ended September 30,
    1996 as compared to the nine months ended September 30, 1995.

2.  Depletion expense decreased to $170,000 for the nine months ended
    September 30, 1996 from $171,000 for the same period in 1995.  This
    represents a decrease of 1%.  Depletion is calculated using the gross
    revenue method of amortization based on a percentage of current period
    gross revenues to total future gross oil and gas revenues, as estimated
    by the Partnership's independent petroleum consultants.

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Liquidity and Capital Resources

The primary source of cash is from operations, the receipt of income from
interests in oil and gas properties.  The Partnership knows of no material
change, nor does it anticipate any such change.

Cash flows provided by operating activities were approximately $273,900 in
the nine months ended September 30, 1996 as compared to approximately
$241,100 in the nine months ended September 30, 1995.  The primary source of
the 1996 cash flow from operating activities was profitable operations.

Cash flows provided by investing activities were approximately $7,900 in the
nine months ended September 30, 1996 as compared to approximately $37,300 in
the nine months ended September 30, 1995.  The principle sources of the 1996
cash flows from investing activities were the sales of oil and gas properties
and the refund of organization costs.

Cash flows used in financing activities were approximately $336,800 in the
nine months ended September 30, 1996 as compared to approximately $302,000 in
the nine months ended September 30, 1995.  The only use in financing
activities was the distributions to partners.

Total distributions during the nine months ended September 30, 1996 were
$336,785 of which $308,335 was distributed to the limited partners and
$28,450 to the general partners.  The per unit distribution to limited
partners during the nine months ended September 30, 1996 was $56.91.  Total
distributions during the nine months ended September 30, 1995 were $301,805
of which $274,905 was distributed to the limited partners and $26,900 to the
general partners.  The per unit distribution to limited partners during the
nine months ended September 30, 1995 was $50.74.  

The source for the 1996 distributions of $336,785 were oil and gas operations
of approximately $273,900, the sale of oil and gas properties of
approximately $6,200, and the refund of organization costs of approximately
$1,700, with the balance.  The sources for the 1995 distributions of $301,805
were oil and gas operations of approximately $241,100, the sale of oil and
gas properties of approximately $129,600, offset by additions to oil an gas
properties of approximately $92,300, with the balance from available cash on
hand at the beginning of the period.

Since inception of the Partnership, cumulative monthly cash distributions of
$873,492 have been made to the partners.  As of September 30, 1996, $802,142
or $148.05 per limited partner unit has been distributed to the limited
partners, representing a 30% return of the capital contributed.

As of September 30, 1996, the Partnership had approximately $150,500 in
working capital.  The Managing General Partner knows of no unusual
contractual commitments and believes the revenues generated from operations
are adequate to meet the needs of the Partnership.

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                       PART II. - OTHER INFORMATION


Item 1.    Legal Proceedings

           None

Item 2.    Changes in Securities

           None

Item 3.    Defaults Upon Senior Securities

           None

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

           None

Item 5.    Other Information

           None

Item 6.    Exhibits and Reports on Form 8-K

           (a) Financial Data Schedule
           (b) No reports on Form 8-K were filed during the quarter for which
               this report is filed.

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                                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.

                                 SOUTHWEST ROYALTIES INSTITUTIONAL
                                 INCOME FUND XI-A, L.P.
                                 a Delaware limited partnership


                                 By:   Southwest Royalties, Inc.
                                       Managing General Partner


                                 By:   /s/ Bill E. Coggin                  
                                       Bill E. Coggin, Vice President
                                       and Chief Financial Officer
Date: November 15, 1996

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