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. 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)


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 88-A, L.P.

                                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 88-A, L.P.
                        (A Delaware 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                                              $   181,063     $   193,491
  Accounts receivable - oil and gas sales               266,590         224,465
                                                     ----------      ----------
         Total current assets                           447,653         417,956
                                                     ----------      ----------
Oil and gas properties - at cost, based on the
  successful efforts accounting method               10,111,281      10,111,281
Accumulated depletion                                (8,566,166)     (8,534,409)
                                                     ----------      ----------
         Net oil and gas properties                   1,545,115       1,576,872
                                                     ----------      ----------
                                                    $ 1,992,768     $ 1,994,828
                                                     ==========      ==========
LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
  Accounts payable - affiliate                      $    26,364     $    18,724

Partners' capital:
  Managing general partner                               19,906          20,003
  Limited partners (12,935 interests)                 1,946,498       1,956,101
                                                     ----------      ----------
                                                      1,966,404       1,976,104
                                                     ----------      ----------
                                                    $ 1,992,768     $ 1,994,828
                                                     ==========      ==========



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

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)



<TABLE>

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

<S>                                                 <C>            <C>
Revenues:
   Oil and gas                                      $ 455,361      $ 304,068
   Interest                                             3,334          3,115
   Gain on disposition of assets                          -              259
                                                     --------       --------
                                                      458,695        307,442
                                                     --------       --------
Costs and expenses:
   Oil and gas production                             151,163        149,276
   General and administrative                          13,661          9,122
   Depletion                                           31,757         25,581
                                                     --------       --------
                                                      196,581        183,979
                                                     --------       --------
Net income                                          $ 262,114      $ 123,463
                                                     ========       ========
Allocation of net income:
   Managing general partner                         $   2,621      $   1,235
                                                     ========       ========
   Limited partners                                 $ 259,493      $ 122,228
                                                     ========       ========
Net income per limited partnership interest         $   20.06      $    9.45
                                                     ========       ========




         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

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

                         STATEMENT OF PARTNERS' CAPITAL
                                   (Unaudited)


<TABLE>


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


<S>                                     <C>           <C>            <C>
Balance at January 1, 2001              $  20,003     $1,956,101     $1,976,104

    Distributions                          (2,718)      (269,096)      (271,814)

    Net income                              2,621        259,493        262,114
                                         --------      ---------      ---------

Balance at March 31, 2001               $  19,906     $1,946,498     $1,966,404
                                         ========      =========      =========




         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

<PAGE>



                           PARKER & PARSLEY 88-A, L.P.
                        (A Delaware 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                                           $  262,114    $  123,463
  Adjustments to reconcile net income to net
    cash provided by operating activities:
       Depletion                                           31,757        25,581
       Gain on disposition of assets                          -            (259)
  Changes in assets and liabilities:
       Accounts receivable                                (42,125)        2,811
       Accounts payable                                     7,640         3,421
                                                        ---------     ---------
          Net cash provided by operating activities       259,386       155,017
                                                        ---------     ---------
Cash flows from investing activities:
  Additions to oil and gas properties                         -          (3,485)
  Proceeds from disposition of assets                         -             259
                                                        ---------     ---------
          Net cash used in investing activities               -          (3,226)
                                                        ---------     ---------
Cash flows used in financing activities:
  Cash distributions to partners                         (271,814)     (162,998)
                                                        ---------     ---------
Net decrease in cash                                      (12,428)      (11,207)
Cash at beginning of period                               193,491       215,801
                                                        ---------     ---------
Cash at end of period                                  $  181,063    $  204,594
                                                        =========     =========



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

                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 2001
                                   (Unaudited)


Note 1.     Organization and nature of operations

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

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 50% to $455,361 for the three
months ended March 31, 2001 as compared to $304,068 for the same period in 2000.
The increase in revenues  resulted from higher  average  prices  received and an
increase  in  production.  For the three  months  ended March 31,  2001,  10,082
barrels of oil, 3,156 barrels of natural gas liquids  ("NGLs") and 29,495 mcf of
gas were  sold,  or 18,154  barrel of oil  equivalents  ("BOEs").  For the three
months ended March 31, 2000,  7,878  barrels of oil,  4,068  barrels of NGLs and


                                        7

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15,987 mcf of gas were sold,  or 14,611 BOEs.  Of the  increase,  3,880 BOEs are
attributable  to two wells reaching  payout pursuant to the terms of the farmout
agreements which increased the Partnership's net revenue interest in the wells.

The average price received per barrel of oil decreased $1.92, or 7%, from $27.90
for the three months ended March 31, 2000 to $25.98 for the same period in 2001.
The average  price  received per barrel of NGLs  increased  $4.19,  or 30%, from
$13.93 for the three  months  ended March 31, 2000 to $18.12 for the same period
in 2001.  The average price  received per mcf of gas  increased  167% from $1.73
during the three  months  ended  March 31,  2000 to $4.62 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.

Gain on  disposition  of assets of $259 was  recognized  during the three months
ended March 31, 2000  resulting  from  equipment  credits  received on one fully
depleted well.

Costs and Expenses:

Total costs and expenses  increased to $196,581 for the three months ended March
31, 2001 as compared  to  $183,979  for the same period in 2000,  an increase of
$12,602,  or 7%. The increase was due to  increases  in  depletion,  general and
administrative expenses ("G&A") and production costs.

Production  costs were  $151,163  for the three  months ended March 31, 2001 and
$149,276 for the same period in 2000, resulting in a $1,887 increase, or 1%. The
increase was primarily due to increased  lease  operating and  production  taxes
attributable  to the wells  that  reached  payout  pursuant  to the terms of the
farmout  agreements as noted above and higher  production  taxes associated with
higher oil and gas prices,  offset by decreases in well maintenance and workover
costs.

G&A's  components are independent  accounting and engineering  fees and managing
general partner  personnel and  administrative  costs.  During this period,  G&A
increased  50% from $9,122 for the three  months ended March 31, 2000 to $13,661
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  attributable  to
commodity  prices  and the two  wells  reaching  payout  as noted  above  and an
increase in the accrual for tax preparation fees.

Depletion  was $31,757 for the three  months ended March 31, 2001 as compared to
$25,581  for the same  period in 2000,  an  increase  of  $6,176,  or 24%.  This
increase was  primarily due to an increase in oil  production of 2,204  barrels,
which was principally  due to the two wells reaching payout as noted above,  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  $104,369  for the three
months  ended  March 31,  2001 from the same period in 2000.  The  increase  was
primarily attributable to an increase of $151,512 in oil and gas sales receipts,


                                        8

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offset by increases in  production  costs of $1,887,  G&A expenses of $4,539 and
working capital of $40,717.  The increase in oil and gas receipts  resulted from
the increase in commodity  prices  during 2001 which  contributed  an additional
$48,394 to oil and gas  receipts  and  $103,118  resulting  from an  increase in
production  during 2001.  The increase in production  costs was primarily due to
increased production taxes associated with higher oil and gas prices,  offset by
a decrease in well  maintenance  and  workover  costs.  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.

Net Cash Used in Investing Activities

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

Proceeds from  disposition  of assets of $259  received  during the three months
ended  March  31,  2000  were due to  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 $271,814,  of which $2,718 was distributed to the managing  general partner
and $269,096 to the limited partners.  For the same period ended March 31, 2000,
cash  distributions  to  the  partners  were  $162,998,   of  which  $1,630  was
distributed  to the  managing  general  partner  and  $161,368  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 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:      Pioneer Natural Resources USA, Inc.
                                           Managing General Partner



Dated:  May 9, 2001              By:      /s/ Rich Dealy
                                          -----------------------------------
                                          Rich Dealy, Vice President
                                            and Chief Accounting Officer


                                       11

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