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, 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 No. 33-19659-01


                           PARKER & PARSLEY 88-A, L.P.
             (Exact name of Registrant as specified in its charter)

              Delaware                                      75-2225738
    (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 11 pages.
                             -There are no exhibits-


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                           PARKER & PARSLEY 88-A, L.P.

                                TABLE OF CONTENTS


                                                                        Page
                          Part I. Financial Information

Item 1.     Financial Statements

            Balance Sheets as of September 30, 1996 and
               December 31, 1995   ...................................    3

            Statements of Operations for the three and nine
              months ended September 30, 1996 and 1995................    4

            Statement of Partners' Capital for the nine months
              ended September 30, 1996................................    5

            Statements of Cash Flows for the nine months ended
              September 30, 1996 and 1995.............................    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.........................................   10

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



                                        2

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                           PARKER & PARSLEY 88-A, L.P.
                        (A Delaware Limited Partnership)

                          Part I. Financial Information

Item 1.   Financial Statements
                                 BALANCE SHEETS

                                                   September 30,   December 31,
                                                      1996            1995
                                                   ------------    -----------
                                                    (Unaudited)
                 ASSETS

Current assets:
   Cash, including interest bearing deposits of
     $245,781 at September 30 and $212,946
     at December 31                                $   246,281     $   213,046
   Accounts receivable - oil and gas sales             147,075         136,424
                                                    ----------      ----------
          Total current assets                         393,356         349,470
                                                    ----------      ----------
Oil and gas properties - at cost, based on the
   successful efforts accounting method             10,060,704      10,059,560
     Accumulated depletion                          (6,475,539)     (6,287,308)
                                                    ----------      ----------
          Net oil and gas properties                 3,585,165       3,772,252
                                                    ----------      ----------
                                                   $ 3,978,521     $ 4,121,722
                                                    ==========      ==========

LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
   Accounts payable - affiliate                    $    56,197     $    61,407

Partners' capital:
   Limited partners (12,935 interests)               3,882,859       4,019,470
   Managing general partner                             39,465          40,845
                                                    ----------      ----------
                                                     3,922,324       4,060,315
                                                    ----------      ----------
                                                   $ 3,978,521     $ 4,121,722
                                                    ==========      ==========


The financial information included as of September 30, 1996 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 88-A, L.P.
                        (A Delaware Limited Partnership)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)


                                 Three months ended         Nine months ended
                                    September 30,              September 30,
                               ----------------------    ----------------------
                                  1996         1995         1996         1995
                               ---------    ---------    ---------    ---------
Revenues:
  Oil and gas                  $ 319,859    $ 280,084    $ 974,534    $ 890,762
  Interest                         3,384        3,527        9,135        8,307
                                --------     --------     --------     --------
                                 323,243      283,611      983,669      899,069
                                --------     --------     --------     --------
Costs and expenses:
  Oil and gas production         120,672      132,734      377,439      393,848
  General and administrative       9,596        8,403       29,236       26,723
  Depletion                       56,739       99,307      188,231      304,368
                                --------     --------     --------     --------
                                 187,007      240,444      594,906      724,939
                                --------     --------     --------     --------

Net income                     $ 136,236    $  43,167    $ 388,763    $ 174,130
                                ========     ========     ========     ========
Allocation of net income:
  Managing general partner     $   1,363    $     431    $   3,888    $   1,741
                                ========     ========     ========     ========

  Limited partners             $ 134,873    $  42,736    $ 384,875    $ 172,389
                                ========     ========     ========     ========
Net income per limited
  partnership interest         $   10.42    $    3.31    $   29.75    $   13.33
                                ========     ========     ========     ========
Distributions per limited
  partnership interest         $   14.51    $   11.51    $   40.32    $   34.02
                                ========     ========     ========     ========


         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 88-A, L.P.
                        (A Delaware Limited Partnership)

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)




                                     Managing
                                     general       Limited
                                     partner       partners        Total
                                    ---------     ----------     ----------

Balance at January 1, 1996          $  40,845     $4,019,470     $4,060,315

    Distributions                      (5,268)      (521,486)      (526,754)

    Net income                          3,888        384,875        388,763
                                     --------      ---------      ---------

Balance at September 30, 1996       $  39,465     $3,882,859     $3,922,324
                                     ========      =========      =========






         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 88-A, L.P.
                        (A Delaware Limited Partnership)

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


                                                         Nine months ended
                                                            September 30,
                                                      ------------------------
                                                         1996          1995
                                                      ---------      ---------
Cash flows from operating activities:

  Net income                                          $ 388,763      $ 174,130
  Adjustments to reconcile net income to net
    cash provided by operating activities:
       Depletion                                        188,231        304,368
  Changes in assets and liabilities:
    (Increase) decrease in accounts receivable          (10,651)        12,893
    Increase (decrease) in accounts payable              (5,210)        28,217
                                                       --------       --------

          Net cash provided by operating activities     561,133        519,608
                                                       --------       --------

Cash flows from investing activities:

  Additions to oil and gas properties                    (1,144)        (6,664)

Cash flows from financing activities:

  Cash distributions to partners                       (526,754)      (444,523)
                                                       --------       --------

Net increase in cash and cash equivalents                33,235         68,421
Cash and cash equivalents at beginning of period        213,046        118,721
                                                       --------       --------

Cash and cash equivalents at end of period            $ 246,281      $ 187,142
                                                       ========       ========


         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 88-A, L.P.
                        (A Delaware Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                               September 30, 1996
                                   (Unaudited)


Note 1.

Parker  &  Parsley  88-A,  L.P.  (the  "Registrant")  is a  limited  partnership
organized in 1988 under the laws of the State of Delaware.

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

Note 2.

In the opinion of management, the Registrant's unaudited financial statements as
of September 30, 1996 and for the three and nine months ended September 30, 1996
and  1995  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  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  Registrant's  Report on Form 10-K for the year ended
December 31, 1995, as filed with the Securities and Exchange Commission,  a copy
of which is  available  upon  request by writing to Steven L. Beal,  Senior Vice
President, 303 West Wall, Suite 101, Midland, Texas 79701.

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

Results of Operations

Nine months ended  September 30, 1996 compared with nine months ended  September
  30, 1995

Revenues:

The  Registrant's  oil and gas revenues  increased to $974,534 from $890,762 for
the nine months ended September 30, 1996 and 1995, respectively,  an increase of
9%. The increase in revenues  resulted from higher average  prices  received per
barrel of oil  and mcf  of gas,  offset by  a  10%  decrease  in  barrels of oil

                                        7

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produced and sold and a 12%  decrease in mcf of gas  produced and sold.  For the
nine months ended  September 30, 1996,  32,824 barrels of oil were sold compared
to 36,546 for the same period in 1995, a decrease of 3,722 barrels. For the nine
months  ended  September  30,  1996,  130,542  mcf of gas were sold  compared to
148,060 for the same period in 1995,  a decrease of 17,518 mcf.  The decrease in
production  volumes  was  primarily  due to the decline  characteristics  of the
Registrant's oil and gas properties.  Because of these decline  characteristics,
management  expects a certain amount of decline in production to continue in the
future  until  the  Registrant's  economically  recoverable  reserves  are fully
depleted.

The average  price  received per barrel of oil  increased  $3.57,  or 21%,  from
$17.33  for the nine  months  ended  September  30,  1995 to $20.90 for the same
period in 1996 while the average  price  received per mcf of gas  increased  27%
from $1.74 during the nine months ended September 30, 1995 to $2.21 for the same
period in 1996. 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 Registrant 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, 1996.

Costs and Expenses:

Total  costs and  expenses  decreased  to  $594,906  for the nine  months  ended
September  30,  1996 as compared  to  $724,939  for the same  period in 1995,  a
decrease of $130,033,  or 18%.  This  decrease was due to declines in production
costs and  depletion,  offset  by an  increase  in  general  and  administrative
expenses ("G&A").

Production  costs were $377,439 for the nine months ended September 30, 1996 and
$393,848 for the same period in 1995 resulting in a $16,409 decrease, or 4%. The
decrease was due to a reduction in well repair and maintenance costs.

G&A's  components are  independent  accounting and  engineering  fees,  computer
services,  postage and managing  general partner  personnel  costs.  During this
period, G&A increased, in aggregate,  9%, from $26,723 for the nine months ended
September  30,  1995 to $29,236  for the same  period in 1996.  The  Partnership
agreement limits G&A to 3% of gross oil and gas revenues.

Depletion was $188,231 for the nine months ended  September 30, 1996 compared to
$304,368 for the same period in 1995,  representing  a decrease of $116,137,  or
38%. This decrease was primarily  attributable to the following  factors:  (i) a
reduction  in the  Registrant'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" ("FAS 121"),  (ii) a reduction in oil  production  of 3,722  barrels for the
nine months ended September 30, 1996 as compared to the same period in 1995, and
(iii) an increase in oil and gas reserves  during the third quarter of 1996 as a
result of higher commodity prices.

                                        8

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Three months ended September 30, 1996 compared with three months ended September
  30, 1995

Revenues:

The  Registrant's  oil and gas revenues  increased to $319,859 from $280,084 for
the three months ended September 30, 1996 and 1994, respectively, an increase of
14%. The increase in revenues  resulted from higher average prices  received per
barrel  of oil  and mcf of gas,  offset  by a 10%  decrease  in  barrels  of oil
produced and sold and a 15%  decrease in mcf of gas  produced and sold.  For the
three months ended September 30, 1996,  10,432 barrels of oil were sold compared
to 11,578 for the same  period in 1995,  a decrease  of 1,146  barrels.  For the
three months ended  September 30, 1996,  45,373 mcf of gas were sold compared to
53,073 for the same  period in 1995,  a decrease of 7,700 mcf.  The  decrease in
production  volumes  was  primarily  due to the decline  characteristics  of the
Registrant's oil and gas properties.

The average  price  received per barrel of oil  increased  $5.07,  or 31%,  from
$16.60 for the three  months  ended  September  30,  1995 to $21.67 for the same
period in 1996.  The average  price  received per mcf of gas  increased 25% from
$1.65  during the three months  ended  September  30, 1995 to $2.07 for the same
period in 1996.

Costs and Expenses:

Total costs and  expenses  decreased  to  $187,007  for the three  months  ended
September  30,  1996 as compared  to  $240,444  for the same  period in 1995,  a
decrease of $53,437,  or 22%.  This  decrease was due to declines in  production
costs and depletion, offset by an increase in G&A.

Production costs were $120,672 for the three months ended September 30, 1996 and
$132,734 for the same period in 1995,  resulting in a $12,062  decrease,  or 9%.
The decrease was due to a reduction well repair and maintenance costs.

G&A's  components are  independent  accounting and  engineering  fees,  computer
services,  postage and managing  general partner  personnel  costs.  During this
period, G&A increased, in aggregate,  14% from $8,403 for the three months ended
September 30, 1995 to $9,596 for the same period in 1996.

Depletion was $56,739 for the three months ended  September 30, 1996 compared to
$99,307 for the same period in 1995, representing a decrease of $42,568, or 43%,
primarily  attributable  to  the  following  factors:  (i) a  reduction  in  the
Registrant's net depletable basis from charges taken in accordance with FAS 121,
(ii) a reduction in oil  production  of 1,146 barrels for the three months ended
September 30, 1996 as compared to the same period in 1995, and (iii) an increase
in oil and gas reserves  during the third  quarter of 1996 as a result of higher
commodity prices.

                                        9

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Liquidity and Capital Resources

Net Cash Provided by Operating Activities

Net cash  provided by operating  activities  increased  $41,525  during the nine
months ended  September 30, 1996 from the same period ended  September 30, 1995.
This increase was due to an increase in oil and gas sales, offset by an increase
in production costs paid.

Net Cash Used in Investing Activities

The Registrant's  principal  investing  activities  during the nine months ended
September  30,  1996  and  1995  included   expenditures  related  to  equipment
replacement on various oil and gas properties.

Net Cash Used in Financing Activities

Cash was  sufficient  for the nine  months  ended  September  30,  1996 to cover
distributions  to the partners of $526,754 of which $521,486 was  distributed to
the limited partners and $5,268 to the managing  general  partner.  For the same
period ended  September 30, 1995 cash was  sufficient for  distributions  to the
partners of $444,523 of which $440,076 was  distributed to the limited  partners
and $4,447 to the managing general partner.

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.


                           Part II. Other Information

None.


                                       10

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                           PARKER & PARSLEY 88-A, L.P.
                        (A Delaware 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 88-A, L.P.

                                 By:   Parker & Parsley Development L.P.,
                                        Managing General Partner

                                       By:  Parker & Parsley Petroleum USA, Inc.
                                              ("PPUSA"), General Partner




Dated:  November 6, 1996        By:   /s/ Steven L. Beal
                                       --------------------------------------
                                       Steven L. Beal, Senior Vice President
                                         and Chief Financial Officer of PPUSA



                                       11

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