Rockies Region 2006 Limited Partnership 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document Entity Information Doc

Document Entity Information Document	3 Months Ended
	Mar. 31, 2016shares
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	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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 ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 12,445	$ 12,445
Accounts receivable	77,084	53,932
Crude oil inventory	47,982	57,846
Total current assets	137,511	124,223
Crude oil and natural gas properties, successful efforts method, at cost	1,545,654	1,521,446
Less: Accumulated depreciation, depletion and amortization	(626,199)	(571,528)
Crude oil and natural gas properties, net	919,455	949,918
Total Assets	1,056,966	1,074,141
Current liabilities:
Accounts payable and accrued expenses	4,955	4,326
Due to Managing General Partner-other, net	168,589	135,480
Current portion of asset retirement obligations	345,000	345,000
Total current liabilities	518,544	484,806
Asset retirement obligations	1,887,525	1,846,433
Total liabilities	$ 2,406,069	$ 2,331,239
Commitments and contingent liabilities
Partners' equity:
Managing General Partner	$ (5,435,181)	$ (5,401,139)
Limited Partners - 4,497.03 units issued and outstanding	4,086,078	4,144,041
Total Partners' equity	(1,349,103)	(1,257,098)
Total Liabilities and Partners' Equity	$ 1,056,966	$ 1,074,141

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - shares	Mar. 31, 2016	Dec. 31, 2015
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
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Crude oil, natural gas and NGLs sales	$ 178,111	$ 143,059
Operating costs and expenses:
Crude oil, natural gas and NGLs production costs	138,437	141,424
Direct costs - general and administrative	35,916	21,640
Depreciation, depletion and amortization	54,671	109,515
Impairment of crude oil and natural gas properties	0	3,266,759
Accretion of asset retirement obligations	41,092	30,772
Total operating costs and expenses	270,116	3,570,110
Operating loss:
Net loss	(92,005)	(3,427,051)
Income loss allocated to MGP and Investor Partners	$ (92,005)	$ (3,427,051)
Net income (loss) per Investor Partner Unit:
Net loss per Investor Partner unit	$ (13)	$ (480)
Investor Partner units outstanding	4,497.03
Investor Partners
Operating loss:
Income loss allocated to MGP and Investor Partners	$ (57,963)	$ (2,159,042)
Managing General Partner
Operating loss:
Income loss allocated to MGP and Investor Partners	$ (34,042)	$ (1,268,009)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) Statement - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (92,005)	$ (3,427,051)
Adjustments to net income (loss) to reconcile to net cash from operating activities:
Depreciation, depletion and amortization	54,671	109,515
Impairment of crude oil and natural gas properties	0	3,266,759
Accretion of asset retirement obligations	41,092	30,772
Changes in assets and liabilities:
Accounts receivable	(23,152)	1,010
Crude oil inventory	9,864	(8,464)
Accounts payable and accrued expenses	629	(1,454)
Due to Managing General Partner-other, net	8,901	(19,248)
Net cash from operating activities	0	(48,161)
Cash flows from Investing Activities:
Capital expenditures for crude oil and natural gas properties	0	(28,310)
Net cash from investing activities	0	(28,310)
Cash flows from financing activities:
Distributions to Partners	0	(47,167)
Net cash from financing activities	0	(47,167)
Net change in cash and cash equivalents	0	(123,638)
Cash and cash equivalents, beginning of period	12,445	136,226
Cash and cash equivalents, end of period	12,445	12,588
Change in due to managing general partner-other, net related to purchases of properties and equipment	$ 24,208	$ 0

General and Basis of Presentati

General and Basis of Presentation	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 , there were 1,972 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 March 31, 2016 , the Managing General Partner had repurchased 164 units of Partnership interest from the Investor Partners at an average price of $2,351 per unit. As of March 31, 2016 , the Managing General Partner owned 39.3% of this Partnership, including the repurchased interest. The Managing General Partner made no limited partner unit repurchases during the three months ended March 31, 2016 . 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 December 31, 2015 condensed balance sheet data was derived from audited statements, but does not include disclosures required by U.S. GAAP. 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 2015 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2015 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 months ended March 31, 2016 are not necessarily indicative of the results to be expected for the full year or any future period.

Going Concern (Notes)

Going Concern (Notes)	3 Months Ended
	Mar. 31, 2016
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 have related to its operating expenses, capital program and distributions to partners. The market price for crude oil, natural gas and NGLs decreased significantly during 2015 and continued to be depressed during the three months ended March 31, 2016 . Although this Partnership's production increased 65% during the three months ended March 31, 2016 as compared to the comparable prior year period, as a result of the continued depressed commodity prices, this Partnership generated modest revenue of $178,000 during the three months ended March 31, 2016 . Further, there was no improvement in this Partnership's liquidity during the three months ended March 31, 2016 as cash flows generated from crude oil, natural gas and NGLs sales were utilized for operating activities. This Partnership's strained liquidity position resulting from declining commodity prices raises substantial doubt about its ability to continue as a going concern. Due to the significant decrease in liquidity experienced in 2015 that has continued into 2016 and anticipated future capital expenditures required to remain in compliance with certain regulatory requirements and to satisfy asset retirement obligations, the Managing General Partner believes 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. Beginning in the second quarter of 2015 and continuing during the three months ended March 31, 2016 , 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 well's 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 payment of certain 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	3 Months Ended
	Mar. 31, 2016
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 March 2016, the FASB issued an update to the standard intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations when recognizing revenue. The revenue standard is effective for 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.

Transactions with Managing Gene

Transactions with Managing General Partner	3 Months Ended
	Mar. 31, 2016
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: March 31, 2016 December 31, 2015 Crude oil, natural gas and NGLs sales revenues $ 42,963 $ 59,824 Other (1) (211,552 ) (195,304 ) Due to Managing General Partner-other, net $ (168,589 ) $ (135,480 ) (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 months ended March 31, 2016 and 2015 . “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 March 31, 2016 2015 Well operations and maintenance $ 135,458 $ 137,366 Direct costs - general and administrative 35,916 21,640 Cash distributions (1) — 18,219 (1) During the three months ended March 31, 2016 , this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners as cash flows generated from crude oil, natural gas and NGLs sales were utilized for operating activities. Cash distributions during the three months ended March 31, 2015 include $767 related to cash distributions for Investor Partner units repurchased by PDC.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2016
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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
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 three months ended March 31, 2016 and 2015 , 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 March 31, 2016 or December 31, 2015 . The Managing General Partner is not currently aware of any environmental claims existing as of March 31, 2016 which have not been provided for or would otherwise 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 or other potential sources of liability 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 on historical operation and design information for 46 production facilities, of which one 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 responded to the Information Request in January 2016 and has received no response as of the date of this report. The Managing General Partner cannot predict the outcome of this matter at this time. In addition, in December 2015, the Managing General Partner received a Compliance Advisory pursuant to C.R.S. § 25-7-115(2) from the Colorado Department of Public Health and Environment's Air Quality Control Commission's Air Pollution Control Division alleging that the Managing General Partner had failed to design, operate, and maintain certain condensate collection, storage, processing and handling operations to minimize leakage to the maximum extent possible of volatile organic compounds at 65 facilities consistent with applicable standards under Colorado law. Certain of this Partnership's wells were included in this list of 65 facilities. The Managing General Partner is in the process of responding to the advisory, which has overlap with the Information Request, but cannot predict the outcome of this matter at this time.

Asset Retirement Obligations As

Asset Retirement Obligations Asset Retirement Obligations (Notes)	3 Months Ended
	Mar. 31, 2016
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, 2015 $ 2,191,433 Accretion expense 41,092 Balance at March 31, 2016 2,232,525 Less current portion (345,000 ) Long-term portion $ 1,887,525 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. This Partnership's estimated asset retirement obligation liability is based on historical experience in plugging and abandoning wells, estimated economic lives, estimated plugging and abandonment cost and federal and state regulatory requirements. The liability is discounted using the credit-adjusted risk-free rate estimated at the time the liability is incurred or revised. During the three months ended March 31, 2016 , the credit-adjusted risk-free rates used to discount this Partnership's plugging and abandonment liabilities ranged from 7.6% to 8.0%. In periods subsequent to initial measurement of the liability, this Partnership must recognize period-to-period changes in the liability resulting from the passage of time, revisions to either the amount of the original estimate of undiscounted cash flows or changes in inflation factors and changes to this Partnership's credit-adjusted risk-free rate as market conditions warrant.

Impairment of Capitalized Costs

Impairment of Capitalized Costs (Notes)	3 Months Ended
	Mar. 31, 2016
Impairment of Crude Oil and Natural Gas Properties [Abstract]
Asset Impairment Charges [Text Block]	Impairment of Crude Oil and Natural Gas Properties During the three months ended March 31, 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 at March 31, 2015 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)	3 Months Ended
	Mar. 31, 2016
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 December 31, 2015 condensed balance sheet data was derived from audited statements, but does not include disclosures required by U.S. GAAP. 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 2015 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2015 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 months ended March 31, 2016 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 have related to its operating expenses, capital program and distributions to partners. The market price for crude oil, natural gas and NGLs decreased significantly during 2015 and continued to be depressed during the three months ended March 31, 2016 . Although this Partnership's production increased 65% during the three months ended March 31, 2016 as compared to the comparable prior year period, as a result of the continued depressed commodity prices, this Partnership generated modest revenue of $178,000 during the three months ended March 31, 2016 . Further, there was no improvement in this Partnership's liquidity during the three months ended March 31, 2016 as cash flows generated from crude oil, natural gas and NGLs sales were utilized for operating activities. This Partnership's strained liquidity position resulting from declining commodity prices raises substantial doubt about its ability to continue as a going concern. Due to the significant decrease in liquidity experienced in 2015 that has continued into 2016 and anticipated future capital expenditures required to remain in compliance with certain regulatory requirements and to satisfy asset retirement obligations, the Managing General Partner believes 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. Beginning in the second quarter of 2015 and continuing during the three months ended March 31, 2016 , 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 well's 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 payment of certain 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)	3 Months Ended
	Mar. 31, 2016
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 March 2016, the FASB issued an update to the standard intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations when recognizing revenue. The revenue standard is effective for 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.

Transactions with Managing Ge16

Transactions with Managing General Partner Transactions with Managing General Partner (Tables)	3 Months Ended
	Mar. 31, 2016
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: March 31, 2016 December 31, 2015 Crude oil, natural gas and NGLs sales revenues $ 42,963 $ 59,824 Other (1) (211,552 ) (195,304 ) Due to Managing General Partner-other, net $ (168,589 ) $ (135,480 ) (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 months ended March 31, 2016 and 2015 . “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 March 31, 2016 2015 Well operations and maintenance $ 135,458 $ 137,366 Direct costs - general and administrative 35,916 21,640 Cash distributions (1) — 18,219 (1) During the three months ended March 31, 2016 , this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners as cash flows generated from crude oil, natural gas and NGLs sales were utilized for operating activities. Cash distributions during the three months ended March 31, 2015 include $767 related to cash distributions for Investor Partner units repurchased by PDC.

Asset Retirement Obligations 17

Asset Retirement Obligations Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
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, 2015 $ 2,191,433 Accretion expense 41,092 Balance at March 31, 2016 2,232,525 Less current portion (345,000 ) Long-term portion $ 1,887,525

General and Basis of Presenta18

General and Basis of Presentation General and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2016Number_of_Limited_Partners$ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Investor Partners | Number_of_Limited_Partners	1,972
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	164
Average Price Paid for Units Repurchased by Managing General Partner | $ / shares	$ 2,351
Managing General Partner Ownership Interest	39.30%

Going Concern Natural Gas and C

Going Concern Natural Gas and Crude Oil Revenue (Details)	3 Months Ended
	Mar. 31, 2016USD ($)
Going Concern Disclosure [Abstract]
Percentage increase (decrease) in production	65.00%
Crude Oil, Natural Gas and NGLs Sales	$ 178,000

Transactions with Managing Ge20

Transactions with Managing General Partner Undistributed or Unsettled Transactions With Investor Partners (Details) - USD ($)		Mar. 31, 2016	Dec. 31, 2015
Related Party Transaction
Due from (to) Managing General Partner-other, net		$ (168,589)	$ (135,480)
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		42,963	59,824
Other
Related Party Transaction
Due from (to) Managing General Partner-other, net	[1]	$ (211,552)	$ (195,304)
[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
		Mar. 31, 2016	Mar. 31, 2015
Related Party Transaction
Direct costs - general and administrative		$ 35,916	$ 21,640
Managing General Partner [Member]
Related Party Transaction
Well operations and maintenance		135,458	137,366
Direct costs - general and administrative		35,916	21,640
Cash distributions	[1]	$ 0	18,219
Cash distributions for Investor Partner units repurchased by PDC			$ 767
[1]	During the three months ended March 31, 2016, this Partnership made no quarterly cash distributions to the Managing General Partner or Investor Partners as cash flows generated from crude oil, natural gas and NGLs sales were utilized for operating activities. Cash distributions during the three months ended March 31, 2015 include $767 related to cash distributions for Investor Partner units repurchased by PDC.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
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
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Changes in asset retirement obligations
Balance at December 31, 2015	$ 2,191,433
Accretion expense	41,092	$ 30,772
Balance at March 31, 2016	2,232,525
Less current portion	(345,000)		$ (345,000)
Long-term portion	$ 1,887,525		$ 1,846,433

Impairment of Capitalized Cos24

Impairment of Capitalized Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 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