Rockies Region 2006 Limited Partnership 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document Entity Information Doc

Document Entity Information Document	9 Months Ended
	Sep. 30, 2015shares
Entity Information
Entity Registrant Name	Rockies Region 2006 Limited Partnership
Entity Central Index Key	1,376,912
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0
Additional General Partnership Units Outstanding	0

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) Statement - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 12,410	$ 136,226
Accounts receivable	101,269	59,470
Crude oil inventory	42,329	53,793
Total current assets	156,008	249,489
Crude oil and natural gas properties, successful efforts method, at cost	4,069,358	13,373,707
Less: Accumulated depreciation, depletion and amortization	(1,983,936)	(7,893,923)
Crude oil and natural gas properties, net	2,085,422	5,479,784
Total Assets	2,241,430	5,729,273
Current liabilities:
Accounts payable and accrued expenses	6,041	6,278
Due to Managing General Partner-other, net	105,419	98,886
Current portion of asset retirement obligations	223,399	0
Total current liabilities	334,859	105,164
Asset retirement obligations	1,544,711	1,673,982
Total liabilities	$ 1,879,570	$ 1,779,146
Commitments and contingent liabilities
Partners' equity:
Managing General Partner	$ (4,802,125)	$ (3,474,466)
Limited Partners - 4,497.03 units issued and outstanding	5,163,985	7,424,593
Total Partners' equity	361,860	3,950,127
Total Liabilities and Partners' Equity	$ 2,241,430	$ 5,729,273

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - shares	Sep. 30, 2015	Dec. 31, 2014
Balance Sheet Parentheticals [Abstract]
Limited Partners' Capital Account, Units Issued	4,497.03	4,497.03
Limited Partners' Capital Account, Units Outstanding	4,497.03	4,497.03

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) Statement - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Crude oil, natural gas and NGLs sales	$ 236,133	$ 376,326	$ 577,974	$ 1,161,395
Operating costs and expenses:
Crude oil, natural gas and NGLs production costs	191,890	210,968	479,440	595,344
Direct costs - general and administrative	31,477	28,021	92,875	90,494
Depreciation, depletion and amortization	46,298	106,039	185,872	319,023
Impairment of crude oil and natural gas properties	0	0	3,266,759	0
Accretion of asset retirement obligations	31,984	17,508	94,128	51,610
Total operating costs and expenses	301,649	362,536	4,119,074	1,056,471
Operating income (loss):
Income (loss) from continuing operations	(65,516)	13,790	(3,541,100)	104,924
Net income (loss)	$ (65,516)	$ 13,790	$ (3,541,100)	$ 104,924
Net income (loss) per Investor Partner Unit:
Net income (loss) per Investor Partner unit	$ (9)	$ 2	$ (496)	$ 15
Investor Partner units outstanding	4,497.03	4,497.03	4,497.03	4,497.03
Investor Partners
Operating income (loss):
Income (loss) from continuing operations	$ (41,275)	$ 8,688	$ (2,230,893)	$ 66,102
Managing General Partner
Operating income (loss):
Income (loss) from continuing operations	$ (24,241)	$ 5,102	$ (1,310,207)	$ 38,822

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) Statement - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (3,541,100)	$ 104,924
Adjustments to net income (loss) to reconcile to net cash from operating activities:
Depreciation, depletion and amortization	185,872	319,023
Impairment of crude oil and natural gas properties	3,266,759	0
Accretion of asset retirement obligations	94,128	51,610
Changes in assets and liabilities:
Accounts receivable	(41,799)	32,777
Crude oil inventory	11,464	(5,286)
Other assets	0	135,855
Accounts payable and accrued expenses	(237)	(255)
Due to Managing General Partner-other, net	6,533	181,741
Net cash from operating activities	(18,380)	820,389
Cash flows from Investing Activities:
Capital expenditures for crude oil and natural gas properties	(58,269)	(242,928)
Net cash from investing activities	(58,269)	(242,928)
Cash flows from financing activities:
Distributions to Partners	(47,167)	(499,922)
Net cash from financing activities	(47,167)	(499,922)
Net change in cash and cash equivalents	(123,816)	77,539
Cash and cash equivalents, beginning of period	136,226	352,687
Cash and cash equivalents, end of period	$ 12,410	$ 430,226

General and Basis of Presentati

General and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	General and Basis of Presentation Rockies Region 2006 Limited Partnership (this “Partnership” or the “Registrant”) was organized in 2006 as a limited partnership, in accordance with the laws of the State of West Virginia, for the purpose of engaging in the exploration and development of crude oil and natural gas properties. Business operations commenced upon closing of an offering for the private placement of Partnership units. Upon funding, this Partnership entered into a Drilling and Operating Agreement (“D&O Agreement”) with the Managing General Partner which authorizes PDC to conduct and manage this Partnership's business. In accordance with the terms of the Limited Partnership Agreement (the “Agreement”), the Managing General Partner is authorized to manage all activities of this Partnership and initiates and completes substantially all Partnership transactions. As of September 30, 2015 , there were 1,974 Investor Partners in this Partnership. PDC is the designated Managing General Partner of this Partnership and owns a 37% Managing General Partner ownership in this Partnership. According to the terms of the Agreement, revenues, costs and cash distributions of this Partnership are allocated 63% to the Investor Partners, which are shared pro rata based upon the number of units in this Partnership, and 37% to the Managing General Partner. The Managing General Partner may repurchase Investor Partner units under certain circumstances provided by the Agreement, upon request of an individual Investor Partner. Through September 30, 2015 , the Managing General Partner had repurchased 162 units of Partnership interest from the Investor Partners at an average price of $2,380 per unit. As of September 30, 2015 , the Managing General Partner owned 39.3% of this Partnership, including the repurchased interest. In the Managing General Partner's opinion, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of this Partnership's results for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in the audited financial statements have been condensed or omitted. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with this Partnership's audited financial statements and notes thereto included in this Partnership's 2014 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2014 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year or any future period.

Going Concern (Notes)

Going Concern (Notes)	9 Months Ended
	Sep. 30, 2015
Going Concern [Abstract]
Going Concern [Text Block]	Going Concern This Partnership has historically funded its operations with cash flows from operations. This Partnership’s most significant cash outlays relate to its operating expenses, capital program and distributions to partners. The market price for crude oil, natural gas and NGLs decreased significantly during the fourth quarter of 2014, with continued weakness in the nine months ended September 30, 2015 . As a result of these decreases, crude oil, natural gas and NGLs sales decreased $0.6 million , or 50% , to $0.6 million for the nine months ended September 30, 2015 compared to $1.2 million for the nine months ended September 30, 2014 . Decreases in the market price for this Partnership’s production directly reduce its cash flows from operations and create operating deficits. Although this Partnership experienced an increase in production during the three months ended September 30, 2015 due to reduced line pressures as a result of the Lucerne II processing plant, the negative impact to its liquidity resulting from declining commodity prices raises substantial doubt about the Partnership’s ability to continue as a going concern. While this Partnership generated modest positive cash flows from operations during the three months ended September 30, 2015 , due to the significant decrease in liquidity experienced in the first half of 2015 and anticipated future capital expenditures required to remain in compliance with certain regulatory requirements and to satisfy asset retirement obligations, we believe that cash flows from operations will be insufficient to meet this Partnership’s obligations. One of this Partnership's most significant obligations is to the Managing General Partner, which is currently due, for reimbursement of costs paid on behalf of this Partnership by the Managing General Partner. Such amounts are generally paid to third parties for general and administrative expenses and equipment and operating costs, as well as monthly operating fees payable to the Managing General Partner. During the three months ended September 30, 2015 , this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners. The ability of this Partnership to continue as a going concern is dependent upon its ability to attain a satisfactory level of cash flows from operations. Greater cash flow would most likely occur from improved commodity pricing and, to a lesser extent, a sustained increase in production. However, historically, as a result of the normal production decline in a wells’ production life cycle, this Partnership has not experienced a sustained increase in production without capital expenditures. The Managing General Partner is considering various options to mitigate risks that raise substantial doubt about this Partnership’s ability to continue as a going concern, including, but not limited to, deferral of obligations, continued suspension of distributions to partners, partial or complete sale of assets and the shutting-in of wells. However, there can be no assurance that this Partnership will be able to mitigate such conditions. Failure to do so could result in a partial asset sale or some form of bankruptcy, liquidation or dissolution of this Partnership. The accompanying financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and satisfaction of liabilities and commitments in the normal course of business. The financial statements do not reflect any adjustments that might result if this Partnership is unable to continue as a going concern.

Recent Accounting Standards

Recent Accounting Standards	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncement or Change in Accounting Principle, Current Period Disclosures [Abstract]
Summary of Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") and the International Accounting Standards Board issued their converged standard on revenue recognition that provides a single, comprehensive model that entities will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard outlines a five-step approach to apply the underlying principle: (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to separate performance obligations and (5) recognize revenue when (or as) each performance obligation is satisfied. In August 2015, the FASB deferred the effective date of the revenue standard to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The revenue standard can be adopted under the full retrospective method or simplified transition method. Entities are permitted to adopt the revenue standard early, beginning with annual reporting periods after December 15, 2016. The Managing General Partner of this Partnership is currently evaluating the impact these changes may have on this Partnership's financial statements. In August 2014, the FASB issued a new standard related to the disclosure of uncertainties about an entity's ability to continue as a going concern. The new standard will explicitly require management to assess an entity's ability to continue as a going concern every reporting period and to provide related footnote disclosures in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016, with early adoption permitted. The Managing General Partner of this Partnership is currently evaluating the impact these changes may have on this Partnership's financial statements. In July 2015, the FASB issued an accounting update requiring all entities to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance is effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Adoption of this guidance is not expected to have a significant impact on this Partnership's financial statements.

Transactions with Managing Gene

Transactions with Managing General Partner	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Transactions with Managing General Partner The Managing General Partner transacts business on behalf of this Partnership under the authority of the D&O Agreement. Revenues and other cash inflows received by the Managing General Partner on behalf of this Partnership are distributed to the partners, net of corresponding operating costs and other cash outflows incurred on behalf of this Partnership. The following table presents transactions with the Managing General Partner reflected in the condensed balance sheets line item “Due to Managing General Partner-other, net,” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated: September 30, 2015 December 31, 2014 Crude oil, natural gas and NGLs sales revenues $ 56,231 $ 141,762 Other (1) (161,650 ) (240,648 ) Due to Managing General Partner-other, net $ (105,419 ) $ (98,886 ) (1) All other unsettled transactions between this Partnership and the Managing General Partner. The majority of these are capital expenditures, operating costs and general and administrative costs that have not been deducted from distributions. The following table presents Partnership transactions with the Managing General Partner for the three and nine months ended September 30, 2015 and 2014 . “Well operations and maintenance” is included in the “Crude oil, natural gas and NGLs production costs” line item on the condensed statements of operations. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Well operations and maintenance $ 191,065 $ 194,887 $ 477,233 $ 534,946 Direct costs - general and administrative 31,477 28,021 92,875 90,494 Cash distributions (1) — 52,699 18,219 191,565 (1) During the three months ended September 30, 2015 , this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners as declining commodity prices resulted in insignificant cash flows from operations during the quarter. Cash distributions include $767 during the nine months ended September 30, 2015 and $1,945 and $6,593 during the three and nine months ended September 30, 2014 , respectively, related to cash distributions for Investor Partner units repurchased by PDC.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements This Partnership's fair value measurements were estimated pursuant to a fair value hierarchy that requires this Partnership to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, giving the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. In these cases, the lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability, and may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The carrying value of the financial instruments included in current assets and current liabilities approximate fair value due to the short-term maturities of these instruments. The Managing General Partner utilizes fair value, on a non-recurring basis, to perform impairment testing on this Partnership's crude oil and natural gas properties by comparing net capitalized costs, or carrying value, to estimated undiscounted future net cash flows. If net capitalized costs exceed undiscounted future net cash flows, the measurement of impairment is based on estimated fair value and is measured by the amount by which the net capitalized costs exceed their fair value. See Note 8, Impairment of Crude Oil and Natural Gas Properties , for information regarding an impairment charge recognized during the nine months ended September 30, 2015 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Legal Proceedings Neither this Partnership nor PDC, in its capacity as the Managing General Partner of this Partnership, are party to any pending legal proceeding that PDC believes would have a materially adverse effect on this Partnership's business, financial condition, results of operations or liquidity. Environmental Due to the nature of the oil and gas industry, this Partnership is exposed to environmental risks. The Managing General Partner has various policies and procedures in place to prevent environmental contamination and mitigate the risks from environmental contamination. The Managing General Partner conducts periodic reviews to identify changes in this Partnership's environmental risk profile. Liabilities are accrued when environmental remediation efforts are probable and the costs can be reasonably estimated. These liabilities are reduced as remediation efforts are completed or are adjusted as a consequence of subsequent periodic reviews. During the nine months ended September 30, 2015 and 2014 , as a result of the Managing General Partner's periodic review, no new environmental remediation projects were identified and this Partnership's expense for environmental remediation efforts was not significant. This Partnership had no liabilities for environmental remediation efforts as of September 30, 2015 or December 31, 2014 . The Managing General Partner is not currently aware of any environmental claims existing as of September 30, 2015 which have not been provided for or would otherwise be expected to have a material impact on this Partnership's condensed financial statements. However, there can be no assurance that current regulatory requirements will not change or that unknown past non-compliance with environmental laws will not be discovered on this Partnership's properties. In August 2015, the Managing General Partner received a Clean Air Act Section 114 Information Request (the "Information Request") from the United States Environmental Protection Agency ("EPA"). The Information Request seeks, among other things, information related to the design, operation, and maintenance of certain production facilities in the DJ Basin of Colorado. The Information Request focuses primarily on 46 production facilities, of which one production facility relates to this Partnership, and asks that the Managing General Partner conduct certain sampling and analyses at the identified 46 facilities. The Managing General Partner is currently scheduled to respond to the Information Request in January 2016. The Managing General Partner cannot predict the outcome of this matter at this time.

Asset Retirement Obligations As

Asset Retirement Obligations Asset Retirement Obligations (Notes)	9 Months Ended
	Sep. 30, 2015
ASSET RETIREMENT OBLIGATIONS [Abstract]
Asset Retirement Obligation Disclosure [Text Block]	Asset Retirement Obligations The following table presents the changes in the carrying amount of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties: Amount Balance at December 31, 2014 $ 1,673,982 Accretion expense 94,128 Balance at September 30, 2015 1,768,110 Less current portion (223,399 ) Long-term portion $ 1,544,711 The current portion of the asset retirement obligations relates to wells that are producing minimal or no hydrocarbons and are expected to be plugged and abandoned within the next 12 months.

Impairment of Capitalized Costs

Impairment of Capitalized Costs (Notes)	9 Months Ended
	Sep. 30, 2015
Impairment of Crude Oil and Natural Gas Properties [Abstract]
Asset Impairment Charges [Text Block]	Impairment of Crude Oil and Natural Gas Properties During the nine months ended September 30, 2015 , this Partnership recognized an impairment charge of approximately $3.3 million to write-down its proved crude oil and natural gas properties. The impairment charge represented the amount by which the carrying value of the crude oil and natural gas properties exceeded the estimated fair value, and was therefore not recoverable. The estimated fair value of approximately $1.0 million , excluding estimated salvage value of $1.1 million , was determined based on estimated future discounted net cash flows, a Level 3 input, using estimated production and prices at which the Managing General Partner reasonably expects this Partnership's crude oil and natural gas will be sold.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting, Policy [Policy Text Block]	In the Managing General Partner's opinion, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of this Partnership's results for interim periods in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, pursuant to such rules and regulations, certain notes and other financial information included in the audited financial statements have been condensed or omitted. The information presented in this Quarterly Report on Form 10-Q should be read in conjunction with this Partnership's audited financial statements and notes thereto included in this Partnership's 2014 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2014 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year or any future period.
Going Concern [Policy Text Block]	This Partnership has historically funded its operations with cash flows from operations. This Partnership’s most significant cash outlays relate to its operating expenses, capital program and distributions to partners. The market price for crude oil, natural gas and NGLs decreased significantly during the fourth quarter of 2014, with continued weakness in the nine months ended September 30, 2015 . As a result of these decreases, crude oil, natural gas and NGLs sales decreased $0.6 million , or 50% , to $0.6 million for the nine months ended September 30, 2015 compared to $1.2 million for the nine months ended September 30, 2014 . Decreases in the market price for this Partnership’s production directly reduce its cash flows from operations and create operating deficits. Although this Partnership experienced an increase in production during the three months ended September 30, 2015 due to reduced line pressures as a result of the Lucerne II processing plant, the negative impact to its liquidity resulting from declining commodity prices raises substantial doubt about the Partnership’s ability to continue as a going concern. While this Partnership generated modest positive cash flows from operations during the three months ended September 30, 2015 , due to the significant decrease in liquidity experienced in the first half of 2015 and anticipated future capital expenditures required to remain in compliance with certain regulatory requirements and to satisfy asset retirement obligations, we believe that cash flows from operations will be insufficient to meet this Partnership’s obligations. One of this Partnership's most significant obligations is to the Managing General Partner, which is currently due, for reimbursement of costs paid on behalf of this Partnership by the Managing General Partner. Such amounts are generally paid to third parties for general and administrative expenses and equipment and operating costs, as well as monthly operating fees payable to the Managing General Partner. During the three months ended September 30, 2015 , this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners. The ability of this Partnership to continue as a going concern is dependent upon its ability to attain a satisfactory level of cash flows from operations. Greater cash flow would most likely occur from improved commodity pricing and, to a lesser extent, a sustained increase in production. However, historically, as a result of the normal production decline in a wells’ production life cycle, this Partnership has not experienced a sustained increase in production without capital expenditures. The Managing General Partner is considering various options to mitigate risks that raise substantial doubt about this Partnership’s ability to continue as a going concern, including, but not limited to, deferral of obligations, continued suspension of distributions to partners, partial or complete sale of assets and the shutting-in of wells. However, there can be no assurance that this Partnership will be able to mitigate such conditions. Failure to do so could result in a partial asset sale or some form of bankruptcy, liquidation or dissolution of this Partnership. The accompanying financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and satisfaction of liabilities and commitments in the normal course of business. The financial statements do not reflect any adjustments that might result if this Partnership is unable to continue as a going concern.

Recent Accounting Standards Sig

Recent Accounting Standards Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Recently Issued Accounting Standards [Policy Text Block]	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") and the International Accounting Standards Board issued their converged standard on revenue recognition that provides a single, comprehensive model that entities will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard outlines a five-step approach to apply the underlying principle: (1) identify the contract with the customer, (2) identify the separate performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to separate performance obligations and (5) recognize revenue when (or as) each performance obligation is satisfied. In August 2015, the FASB deferred the effective date of the revenue standard to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The revenue standard can be adopted under the full retrospective method or simplified transition method. Entities are permitted to adopt the revenue standard early, beginning with annual reporting periods after December 15, 2016. The Managing General Partner of this Partnership is currently evaluating the impact these changes may have on this Partnership's financial statements. In August 2014, the FASB issued a new standard related to the disclosure of uncertainties about an entity's ability to continue as a going concern. The new standard will explicitly require management to assess an entity's ability to continue as a going concern every reporting period and to provide related footnote disclosures in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016, with early adoption permitted. The Managing General Partner of this Partnership is currently evaluating the impact these changes may have on this Partnership's financial statements. In July 2015, the FASB issued an accounting update requiring all entities to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance is effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Adoption of this guidance is not expected to have a significant impact on this Partnership's financial statements.

Transactions with Managing Ge16

Transactions with Managing General Partner Transactions with Managing General Partner (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Due from (to) Managing General Partner-other, net [Table Text Block]	The following table presents transactions with the Managing General Partner reflected in the condensed balance sheets line item “Due to Managing General Partner-other, net,” which remain undistributed or unsettled with this Partnership's investors as of the dates indicated: September 30, 2015 December 31, 2014 Crude oil, natural gas and NGLs sales revenues $ 56,231 $ 141,762 Other (1) (161,650 ) (240,648 ) Due to Managing General Partner-other, net $ (105,419 ) $ (98,886 ) (1) All other unsettled transactions between this Partnership and the Managing General Partner. The majority of these are capital expenditures, operating costs and general and administrative costs that have not been deducted from distributions.
Schedule of Related Party Transactions [Table Text Block]	The following table presents Partnership transactions with the Managing General Partner for the three and nine months ended September 30, 2015 and 2014 . “Well operations and maintenance” is included in the “Crude oil, natural gas and NGLs production costs” line item on the condensed statements of operations. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Well operations and maintenance $ 191,065 $ 194,887 $ 477,233 $ 534,946 Direct costs - general and administrative 31,477 28,021 92,875 90,494 Cash distributions (1) — 52,699 18,219 191,565 (1) During the three months ended September 30, 2015 , this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners as declining commodity prices resulted in insignificant cash flows from operations during the quarter. Cash distributions include $767 during the nine months ended September 30, 2015 and $1,945 and $6,593 during the three and nine months ended September 30, 2014 , respectively, related to cash distributions for Investor Partner units repurchased by PDC.

Asset Retirement Obligations 17

Asset Retirement Obligations Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2015
ASSET RETIREMENT OBLIGATIONS [Abstract]
Schedule of Change in Asset Retirement Obligation [Table Text Block]	The following table presents the changes in the carrying amount of the asset retirement obligations associated with this Partnership's working interest in crude oil and natural gas properties: Amount Balance at December 31, 2014 $ 1,673,982 Accretion expense 94,128 Balance at September 30, 2015 1,768,110 Less current portion (223,399 ) Long-term portion $ 1,544,711 The current portion of the asset retirement obligations relates to wells that are producing minimal or no hydrocarbons and are expected to be plugged and abandoned within the next 12 months.

General and Basis of Presenta18

General and Basis of Presentation General and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2015Number_of_Limited_Partners$ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Investor Partners | Number_of_Limited_Partners	1,974
Managing General Partner, Ownership Interest Before Unit Repurchases	37.00%
Investor Partner Ownership Interest	63.00%
Limited Partner Units Repurchased by Managing General Partner | shares	162
Average Price Paid for Units Repurchased by Managing General Partner	$ 2,380
Managing General Partner Ownership Interest	39.30%

Going Concern Natural Gas and C

Going Concern Natural Gas and Crude Oil Revenue (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Going Concern Disclosure [Abstract]
Crude Oil, Natural Gas and NGLs Sales	$ 0.6	$ 1.2
Increase (Decrease) in crude oil, natural gas and NGLs sales	$ (0.6)
Percentage Increase (Decrease) in Crude Oil, Natural Gas and NGLs sales	(50.00%)

Transactions with Managing Ge20

Transactions with Managing General Partner Undistributed or Unsettled Transactions With Investor Partners (Details) - USD ($)		Sep. 30, 2015	Dec. 31, 2014
Related Party Transaction
Due from (to) Managing General Partner-other, net		$ (105,419)	$ (98,886)
Crude oil, natural gas and NGLs sales revenues collected from the Partnership's third-party customers
Related Party Transaction
Due from (to) Managing General Partner-other, net		56,231	141,762
Other
Related Party Transaction
Due from (to) Managing General Partner-other, net	[1]	$ (161,650)	$ (240,648)
[1]	All other unsettled transactions between this Partnership and the Managing General Partner. The majority of these are capital expenditures, operating costs and general and administrative costs that have not been deducted from distributions.

Transactions with Managing Ge21

Transactions with Managing General Partner Related Party Transactions (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Related Party Transaction
Direct costs - general and administrative		$ 31,477	$ 28,021	$ 92,875	$ 90,494
Managing General Partner [Member]
Related Party Transaction
Well operations and maintenance		191,065	194,887	477,233	534,946
Direct costs - general and administrative		31,477	28,021	92,875	90,494
Cash distributions	[1]	$ 0	52,699	18,219	191,565
Distribution Made to Limited Partner, Cash Distributions Paid			$ 1,945	$ 767	$ 6,593
[1]	During the three months ended September 30, 2015, this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners as declining commodity prices resulted in insignificant cash flows from operations during the quarter. Cash distributions include $767 during the nine months ended September 30, 2015 and $1,945 and $6,593 during the three and nine months ended September 30, 2014, respectively, related to cash distributions for Investor Partner units repurchased by PDC.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Accrued environmental remediation liabilities	$ 0	$ 0

Asset Retirement Obligations 23

Asset Retirement Obligations Asset Retirement Obligations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Changes in asset retirement obligations
Balance at December 31, 2014			$ 1,673,982
Accretion expense	$ 31,984	$ 17,508	94,128	$ 51,610
Balance at September 30, 2015	1,768,110		1,768,110
Less current portion	(223,399)		(223,399)		$ 0
Long-term portion	$ 1,544,711		$ 1,544,711		$ 1,673,982

Impairment of Capitalized Cos24

Impairment of Capitalized Costs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Impairment of Crude Oil and Natural Gas Properties [Abstract]
Impairment of Oil and Gas Properties	$ 3.3
Estimated Fair Value of Proved Properties	1
Estimated Salvage Value of Oil and Gas Properties	$ 1.1