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 March 31, 1997

                                       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 10 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 March 31, 1997 and
            December 31, 1996..........................................    3

          Statements of Operations for the three months
            ended March 31, 1997 and 1996..............................    4

          Statement of Partners' Capital for the three months
            ended March 31, 1997.......................................    5

          Statements of Cash Flows for the three months
            ended March 31, 1997 and 1996..............................    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.............................    9

          27.    Financial Data Schedule

          Signatures...................................................   10


                                        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
                                                     March 31,     December 31,
                                                       1997           1996
                                                    -----------    -----------
                                                    (Unaudited)
                 ASSETS

Current assets:
  Cash and cash equivalents, including interest
    bearing deposits of $221,470 at March 31 and
    $178,702 at December 31                         $   221,969    $   179,202
  Accounts receivable - oil and gas sales               168,354        228,344
                                                     ----------     ----------
         Total current assets                           390,323        407,546
                                                     ----------     ----------
Oil and gas properties - at cost, based on the
  successful efforts accounting method               10,080,508     10,070,081
Accumulated depletion                                (6,600,429)    (6,537,411)
                                                     ----------     ----------
         Net oil and gas properties                   3,480,079      3,532,670
                                                     ----------     ----------
                                                    $ 3,870,402    $ 3,940,216
                                                     ==========     ==========
LIABILITIES AND PARTNERS' CAPITAL

Current liabilities:
  Accounts payable - affiliate                      $    27,855    $    25,585

Partners' capital:
  Managing general partner                               38,667         39,388
  Limited partners (12,935 interests)                 3,803,880      3,875,243
                                                     ----------     ----------
                                                      3,842,547      3,914,631
                                                     ----------     ----------
                                                    $ 3,870,402    $ 3,940,216
                                                     ==========     ==========


  The financial information included as of March 31, 1997 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
                                                          March 31,
                                                  -------------------------
                                                     1997           1996
                                                  ----------     ----------

Revenues:
   Oil and gas                                    $  330,871     $  311,476
   Interest                                            2,701          2,617
                                                   ---------      ---------
                                                     333,572        314,093
                                                   ---------      ---------
Costs and expenses:
   Oil and gas production                            140,747        129,274
   General and administrative                          9,926          9,344
   Depletion                                          63,018         68,584
                                                   ---------      ---------
                                                     213,691        207,202
                                                   ---------      ---------
Net income                                        $  119,881     $  106,891
                                                   =========      =========
Allocation of net income:
   Managing general partner                       $    1,199     $    1,069
                                                   =========      =========
   Limited partners                               $  118,682     $  105,822
                                                   =========      =========
Net income per limited partnership interest       $     9.18     $     8.18
                                                   =========      =========
Distributions per limited partnership interest    $    14.69     $    11.51
                                                   =========      =========


         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, 1997          $  39,388     $3,875,243     $3,914,631

    Distributions                      (1,920)      (190,045)      (191,965)

    Net income                          1,199        118,682        119,881
                                     --------      ---------      ---------

Balance at March 31, 1997           $  38,667     $3,803,880     $3,842,547
                                     ========      =========      =========





         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)


                                                         Three months ended
                                                               March 31,
                                                       ------------------------
                                                          1997          1996
                                                       ----------    ----------
Cash flows from operating activities:

  Net income                                           $  119,881    $  106,891
  Adjustments to reconcile net income to net
    cash provided by operating activities:
       Depletion                                           63,018        68,584
  Changes in assets and liabilities:
       (Increase) decrease in accounts receivable          59,990        (5,938)
       Increase (decrease) in accounts payable              2,270       (25,241)
                                                        ---------     ---------
          Net cash provided by operating activities       245,159       144,296
                                                        ---------     ---------
Cash flows from investing activities:

  Additions to oil and gas properties                     (10,427)       (1,144)

Cash flows from financing activities:

  Cash distributions to partners                         (191,965)     (150,369)
                                                        ---------     ---------
Net increase (decrease) in cash and cash equivalents       42,767        (7,217)
Cash and cash equivalents at beginning of period          179,202       213,046
                                                        ---------     ---------
Cash and cash equivalents at end of period             $  221,969    $  205,829
                                                        =========     =========




         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
                                 March 31, 1997
                                   (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  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.     Basis of presentation

In the opinion of management, the unaudited financial statements as of March 31,
1997 of the Partnership  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.  However,  these interim results are not
necessarily indicative of results for a full year.

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,  1996,  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

Revenues:

The Partnership's  oil and gas revenues  increased to $330,871 from $311,476 for
the three months ended March 31, 1997 and 1996, respectively, an increase of 6%.
The increase in revenues resulted from higher average prices received per barrel
of oil and mcf of gas,  offset by a 10% decline in barrels of oil  produced  and
sold and an 8% decline in mcf of gas  produced  and sold.  For the three  months
ended March 31, 1997, 10,229 barrels of oil were sold compared to 11,369 for the
same period in 1996,  a decrease of 1,140  barrels.  For the three  months ended
March 31,  1997,  39,429  mcf of gas were sold  compared  to 42,666 for the same
period in 1996, a decrease of 3,237 mcf. The  decreases  in  production  volumes
were primarily due to the decline  characteristics  of the Partnership's oil and
gas properties.  Because of these characteristics,  management expects a certain
amount  of  decline  in   production   to  continue  in  the  future  until  the
Partnership's economically recoverable reserves are fully depleted.

                                        7

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The average  price  received per barrel of oil  increased  $2.76,  or 14%,  from
$19.08 for the three  months  ended March 31, 1996 to $21.84 for the same period
in 1997,  while the average  price  received per mcf of gas  increased  23% from
$2.22  during the three months ended March 31, 1996 to $2.73 for the same period
in 1997.  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, 1997.

Costs and Expenses:

Total costs and expenses  increased to $213,691 for the three months ended March
31, 1997 as compared  to  $207,202  for the same period in 1996,  an increase of
$6,489, or 3%. The increase was due to increases in production costs and general
and administrative expenses ("G&A"), offset by a decrease in depletion.

Production  costs were  $140,747  for the three  months ended March 31, 1997 and
$129,274 for the same period in 1996,  resulting in an $11,473 increase,  or 9%.
The increase was due to an increase in workover  expenses  incurred in an effort
to stimulate well production.

G&A consists of independent accounting and engineering fees and managing general
partner  personnel and operating costs.  During this period,  G&A increased,  in
aggregate,  6% from $9,344 for the three  months  ended March 31, 1996 to $9,926
for the same period in 1997. The Partnership agreement limits G&A to 3% of gross
oil and gas revenues.

Depletion  was $63,018  for the three  months  ended March 31, 1997  compared to
$68,584 for the same period in 1996. This represented a decrease in depletion of
$5,566, or 8%.

Liquidity and Capital Resources

Net Cash Provided by Operating Activities

Net cash  provided by  operating  activities  increased  $100,863  for the three
months ended March 31, 1997 from the same period in 1996.  This increase was due
to an increase in oil and gas sales receipts and a decrease in production  costs
paid.

Net Cash Used in Investing Activities

The Partnership's  principal investing  activities during the three months ended
March 31, 1997 and 1996 were for  equipment  replacement  on various oil and gas
properties.

Net Cash Used in Financing Activities

Cash  was  sufficient  for the  three  months  ended  March  31,  1997 to  cover
distributions  to the partners of $191,965 of which $190,045 was  distributed to

                                        8

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the limited partners and $1,920 to the managing  general  partner.  For the same
period  ended  March 31,  1996,  cash was  sufficient for  distributions  to the
partners of $150,369 of which $148,865 was  distributed to the limited  partners
and $1,504 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


Item 6.     Exhibits and Reports on Form 8-K

(a)    Exhibits

       27.    Financial Data Schedule

(b)    Reports on Form 8-K - none


                                        9

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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:  May 9, 1997           By:    /s/ Steven L. Beal
                                     --------------------------------------
                                     Steven L. Beal, Senior Vice President
                                      and Chief Financial Officer of PPUSA



                                       10

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