Rockies Region 2006 Limited Partnership 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document Entity Information Doc

Document Entity Information Document	9 Months Ended
	Sep. 30, 2017shares
Entity Information
Additional General Partnership Units Outstanding	0
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, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	0

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) Statement - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 8,495	$ 11,215
Accounts receivable	89,100	134,215
Crude oil inventory	32,475	59,362
Total current assets	130,070	204,792
Crude oil and natural gas properties, successful efforts method, at cost	1,673,939	1,895,810
Less: Accumulated depreciation, depletion and amortization	(902,521)	(779,728)
Crude oil and natural gas properties, net	771,418	1,116,082
Total Assets	901,488	1,320,874
Current liabilities:
Due to Managing General Partner-other, net	840,070	403,865
Current portion of asset retirement obligations	800,000	977,500
Total current liabilities	1,640,070	1,381,365
Asset retirement obligations	930,275	1,551,929
Total liabilities	2,570,345	2,933,294
Commitments and contingent liabilities
Partners' equity:
Managing General Partner	(5,553,490)	(5,532,608)
Limited Partners - 4,497.03 units issued and outstanding	3,884,633	3,920,188
Total Partners' equity	(1,668,857)	(1,612,420)
Total Liabilities and Partners' Equity	$ 901,488	$ 1,320,874

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - shares	Sep. 30, 2017	Dec. 31, 2016
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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Crude oil, natural gas and NGLs sales	$ 134,713	$ 242,124	$ 604,187	$ 628,301
Operating costs and expenses:
Crude oil, natural gas and NGLs production costs	106,167	206,621	437,211	460,101
Production taxes	5,490	9,796	28,135	24,544
Direct costs - general and administrative	28,217	52,296	106,455	109,817
Depreciation, depletion and amortization	29,780	57,148	122,793	163,932
Accretion of asset retirement obligations	30,758	42,495	117,156	125,485
(Gain) loss on settlement of asset retirement obligations, net	(89,396)	3,223	(151,126)	3,223
Total operating costs and expenses	111,016	371,579	660,624	887,102
Operating loss:
Net loss	23,697	(129,455)	(56,437)	(258,801)
Net Income (Loss) Allocated to General Partners	8,768	(47,898)	(20,882)	(95,756)
Net income (loss) allocated to Investor Partners	$ 14,929	$ (81,557)	$ (35,555)	$ (163,045)
Net income (loss) per Investor Partner Unit:
Net loss per Investor Partner unit	$ 3.32	$ (18.14)	$ (7.91)	$ (36.26)
Investor Partner units outstanding	4,497.03	4,497	4,497.03	4,497

Condensed Statement of Partners

Condensed Statement of Partners' Equity (Deficit) Statement - USD ($)	Total	Investor Partners	Managing General Partner
Partners' Capital	$ (1,612,420)
Limited Partners' Capital Account	3,920,188
General Partners' Capital Account	(5,532,608)
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(56,437)	$ (35,555)	$ (20,882)
Partners' Capital	(1,668,857)
Limited Partners' Capital Account	3,884,633	$ 3,884,633
General Partners' Capital Account	$ (5,553,490)		$ (5,553,490)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) Statement - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (56,437)	$ (258,801)
Adjustments to net loss to reconcile to net cash from operating activities:
Depreciation, depletion and amortization	122,793	163,932
Accretion of asset retirement obligations	117,156	125,485
Gain on settlement of asset retirement obligations, net	(151,126)	3,223
Changes in assets and liabilities:
Accounts receivable	45,115	(26,126)
Crude oil inventory	26,887	28,156
Asset retirement obligations	(657,282)	(39,588)
Due to Managing General Partner-other, net	489,388	43,980
Net cash from operating activities	(63,506)	40,261
Cash flows from Investing Activities:
Capital expenditures for crude oil and natural gas properties	(2,755)	(40,769)
Proceeds from sale of crude oil and natural gas properties	63,541	0
Net cash from investing activities	60,786	(40,769)
Cash flows from financing activities:
Distributions to Partners	0	0
Net cash from financing activities	0	0
Net change in cash and cash equivalents	(2,720)	(508)
Cash and cash equivalents, beginning of period	11,215	12,445
Cash and cash equivalents, end of period	8,495	11,937
Change in asset retirement obligation, with corresponding change in crude oil and natural gas properties	(107,902)	0
Change in due to managing general partner-other, net related to purchases of properties and equipment	$ 53,183	$ 8,671

General and Basis of Presentati

General and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
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, 2017 , there were 1,977 limited partners ("Investor Partners") in this Partnership. PDC is the designated Managing General Partner of this Partnership and owns a 37 percent 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 percent to the Investor Partners, which are shared pro rata based upon the number of units in this Partnership, and 37 percent 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. The formula for the repurchase price is set at a minimum of four times the most recent 12 months of cash distributions. Due to the suspension of cash distributions during the second quarter of 2015, there is no value upon which to base the calculation, and therefore no repurchase offers are currently being considered. On a cumulative basis, through September 30, 2017 , the Managing General Partner has repurchased 164 units of Partnership interest from the Investor Partners at an average price of $2,351 per unit; the last such purchase was in December 2015. As of September 30, 2017 , the Managing General Partner owned approximately 39 percent of this Partnership, including the repurchased units. The Managing General Partner made no limited partner unit repurchases during the three months ended September 30, 2017 . 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 statement 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, 2016, condensed balance sheet data was derived from this Partnership's audited financial 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 2016 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2016 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the nine months ended September 30, 2017 , are not necessarily indicative of the results to be expected for the full year or any future period. Certain immaterial reclassifications have been made to prior period financial statements to conform to the current period presentation. The reclassifications had no impact on previously reported financial results.

Going Concern (Notes)

Going Concern (Notes)	9 Months Ended
	Sep. 30, 2017
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 expenditures, plugging and abandonment of wells, and cash distributions to partners. This Partnership generated negative cash flows from operations during the nine months ended September 30, 2017 , primarily due to satisfying asset retirement obligations. This Partnership had working capital deficits of $1,510,000 and $1,177,000 as of September 30, 2017 and December 31, 2016 , respectively. The negative impact to its cumulative lack of liquidity resulting from sustained depressed commodity prices, the negative impact of high line pressures on the productivity and decreasing production from natural declines of the wells in this Partnership raises substantial doubt about this Partnership’s ability to continue as a going concern. As the expected cash outlays for plugging and abandoning wells over the next several years is expected to amount to meaningful expenditures, this applies further pressure on the overall liquidity of this Partnership. The Managing General Partner believes that cash flows from operations will be insufficient to meet this Partnership’s obligations largely because of ongoing expected declines in production volumes and the expenditures required to plug and abandon uneconomic wells, absent a change in circumstances as described below. This deficit in available cash flows generated by this Partnership's operations is currently being funded by the Managing General Partner to the extent necessary. The Managing General Partner will recover amounts funded from future cash flows of this Partnership, to the extent available. 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, equipment, operating costs, and reimbursements of plugging and abandonment costs, as well as monthly operating fees payable to the Managing General Partner. Beginning in the second quarter of 2015, this Partnership has made no quarterly cash distributions to the Managing General Partner or Investor Partners as a result of operating expenses exceeding revenues. This suspension in cash distributions is expected to remain in place until such time, if at all, that cash flows can reasonably be expected to support the necessary costs of expected plugging and abandoning of the wells that are becoming unproductive and/or the required capital investments for regulatory requirements, and this Partnership becomes current on its obligations. 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 and continued funding of cash flow deficits by the Managing General Partner. Greater cash flow would most likely occur from improved commodity pricing and, to a lesser extent, a sustained increase in production. 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 substantial amounts of capital expenditures. The Managing General Partner is considering various options to potentially mitigate risks impacting this Partnership’s ability to continue as a going concern, including, but not limited to, deferral of obligations, continued suspension of distributions to partners, and a partial or complete sale of assets. 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, 2017
New Accounting Pronouncements and Changes in Accounting Principles [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 standard has been updated and now includes technical corrections. 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. The revenue standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period; we are adopting the standard effective January 1, 2018. The revenue standard can be adopted under the full retrospective method or modified retrospective method. In order to evaluate the impact that the adoption of the revenue standard will have on this Partnership's consolidated financial statements, the Managing General Partner is performing a comprehensive review of this Partnership's significant revenue streams. The focus of this review includes, among other things, the identification of the significant contracts and other arrangements this Partnership have with its customers to identify performance obligations and principal versus agent considerations, and factors affecting the determination of transaction price. The Managing General Partner is also reviewing this Partnership's current accounting policies, procedures, and controls with respect to these contracts and arrangements to determine what changes, if any, may be required by the adoption of the revenue standard. The Managing General Partner has determined that this Partnership will adopt the standard under the modified retrospective method. The Managing General Partner has not made a complete determination regarding the impact that the adoption will have on this Partnership's consolidated financial statements as of the time of this filing.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	9 Months Ended
	Sep. 30, 2017
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 carrying value to estimated undiscounted future net cash flows. If carrying value exceeds undiscounted future net cash flows, the measurement of impairment is based on estimated fair value and is measured by the amount by which the carrying value exceeds the estimated fair value.

Asset Retirement Obligations As

Asset Retirement Obligations Asset Retirement Obligations (Notes)	9 Months Ended
	Sep. 30, 2017
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, 2016 $ 2,529,429 Revisions in estimated cash flows (107,902 ) Obligations discharged with asset retirements and expenditures (657,282 ) Accretion expense 117,156 Gain on settlement of asset retirement obligations (151,126 ) Balance at September 30, 2017 1,730,275 Less current portion 800,000 Long-term portion $ 930,275 This Partnership's estimated asset retirement obligations liability was based on the Managing General Partner's historical experience in plugging and abandoning this Partnership's wells, estimated economic lives and estimated plugging and abandonment costs considering federal and state regulatory requirements in effect. Prior to 2017, this Partnership's plugging and abandonment activity had been limited; however, during the nine months ended September 30, 2017 , this Partnership plugged 14 wells. Based on the 2017 plugging and abandonment activities, this Partnership's estimated future plugging and abandonment costs have been adjusted downward by approximately $108,000 as reflected in the table above. The liability is discounted using the credit-adjusted risk-free rate estimated at the time the liability is incurred or revised. As of September 30, 2017 , the credit-adjusted risk-free rates used to discount this Partnership's plugging and abandonment liabilities ranged from 6.5 percent to 8.2 percent. 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. During the three and nine months ended September 30, 2017 , this Partnership plugged and abandoned ten and 14 wells, respectively, for total estimated cost of approximately $494,000 and 657,000, respectively. These costs were offset by the release of the asset retirement obligations liability of approximately $583,000 and $808,000 , respectively, resulting in a gain on settlement of asset retirement obligations of approximately $89,000 and $151,000 , respectively. The current portion of the asset retirement obligations relates to 16 wells that are expected to be plugged and abandoned during the next 12 months.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
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 natural 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 recorded 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. Except as discussed herein, the Managing General Partner is not aware of any material environmental claims existing as of September 30, 2017 which have not been provided for or would otherwise have a material impact on this Partnership's financial statements; however, there can be no assurance that current regulatory requirements will not change or that unknown potential past non-compliance with environmental laws or other potential sources of liability will not be discovered on this Partnership's properties. However, the liability ultimately incurred with respect to a matter may exceed the related accrual. Clean Air Act Tentative Agreement and Related Consent Decree In August 2015, the Managing General Partner received a Clean Air Act Section 114 Information Request (the "Information Request") from the U.S. Environmental Protection Agency ("EPA"). The Information Request sought, among other things, information related to the design, operation, and maintenance of this Partnership's Wattenberg Field production facilities in the Denver-Julesburg Basin ("DJ Basin") of Colorado. The Information Request focused on historical operation and design information at certain of the Managing General Partner's production facilities and asked that the Managing General Partner conduct sampling and analyses at the facilities. The Managing General Partner responded with the requested data to the Information Request in January 2016. 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 (“CDPHE”) Air Quality Control Commission's Air Pollution Control Division alleging that the Managing General Partner failed to design, operate, and maintain certain condensate collection, storage, processing, and handling operations to minimize leakage of volatile organic compounds at certain production facilities consistent with applicable standards under Colorado law. For more than a year, the Managing General Partner held a series of meetings with the EPA, Department of Justice (“DOJ”) and CDPHE on the above matters. On June 26, 2017, the DOJ on behalf of the EPA, and the State of Colorado filed a complaint against PDC based on the above matters. A consent decree resolving the matter was signed by all parties on October 31, 2017 and is subject to a 30-day comment period, which will be publicly published in the Federal Register. The consent decree provides that the Managing General Partner will implement changes to the design, operation, and maintenance of most of its field-wide storage tank systems to enhance the emission management in the DJ Basin. Agreed upon and planned efforts include, but are not limited to, vapor control system modifications and verification, increased inspection and monitoring, and installation of tank pressure monitors. The three primary elements of the tentative settlement are: (i) fine/supplemental environmental projects; (ii) injunctive relief; and (iii) mitigation. The Managing General Partner will pay the total amount of the fine and cost associated with supplemental environmental projects. This Partnership will share proportionally in the injunctive relief and may share in the mitigation efforts required by the consent decree. The consent decree includes substantially all of this Partnership’s wells located across 21 production facilities. The profitability of older low-production wells, such as those owned by this Partnership, is likely to be affected in a negative manner by the required costs associated with the injunctive relief and mitigation, which could result in decisions to plug additional wells owned by this Partnership.

Transactions with Managing Gene

Transactions with Managing General Partner	9 Months Ended
	Sep. 30, 2017
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 this Partnership, net of corresponding operating costs and other cash outflows incurred on behalf of this Partnership. This Partnership's net amount due to the Managing General Partner was approximately $840,000 and $404,000 as of September 30, 2017 and December 31, 2016 , respectively. The majority of the amount is past due and represents operating costs, plugging and abandonment costs, and general and administrative and other costs that have not been deducted from distributions due to the lack of revenue generated and available cash flow. A “Well operations and maintenance” fee is charged by the Managing General Partner for the operation of this Partnership's wells and is included in the “Lease operating expenses” line item on the condensed statements of operations. The fees for well operating and maintenance for the three and nine months ended September 30, 2017 were approximately $20,000 and $116,000 , respectively. The fees for well operating and maintenance for the three and nine months ended September 30, 2016 were approximately $44,000 and $141,000 , respectively. The decrease in fees during in the three and nine months ended September 30, 2017 periods compared to 2016 is due to a decrease in the number of wells for which this Partnership is charged the fee.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
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 statement 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, 2016, condensed balance sheet data was derived from this Partnership's audited financial 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 2016 Form 10-K. This Partnership's accounting policies are described in the Notes to Financial Statements in this Partnership's 2016 Form 10-K and updated, as necessary, in this Quarterly Report on Form 10-Q. The results of operations and cash flows for the nine months ended September 30, 2017 , are not necessarily indicative of the results to be expected for the full year or any future period. Certain immaterial reclassifications have been made to prior period financial statements to conform to the current period presentation. The reclassifications had no impact on previously reported financial results.

Recent Accounting Standards Sig

Recent Accounting Standards Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
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 standard has been updated and now includes technical corrections. 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. The revenue standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period; we are adopting the standard effective January 1, 2018. The revenue standard can be adopted under the full retrospective method or modified retrospective method. In order to evaluate the impact that the adoption of the revenue standard will have on this Partnership's consolidated financial statements, the Managing General Partner is performing a comprehensive review of this Partnership's significant revenue streams. The focus of this review includes, among other things, the identification of the significant contracts and other arrangements this Partnership have with its customers to identify performance obligations and principal versus agent considerations, and factors affecting the determination of transaction price. The Managing General Partner is also reviewing this Partnership's current accounting policies, procedures, and controls with respect to these contracts and arrangements to determine what changes, if any, may be required by the adoption of the revenue standard. The Managing General Partner has determined that this Partnership will adopt the standard under the modified retrospective method. The Managing General Partner has not made a complete determination regarding the impact that the adoption will have on this Partnership's consolidated financial statements as of the time of this filing.

Asset Retirement Obligations 16

Asset Retirement Obligations Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2016 $ 2,529,429 Revisions in estimated cash flows (107,902 ) Obligations discharged with asset retirements and expenditures (657,282 ) Accretion expense 117,156 Gain on settlement of asset retirement obligations (151,126 ) Balance at September 30, 2017 1,730,275 Less current portion 800,000 Long-term portion $ 930,275

General and Basis of Presenta17

General and Basis of Presentation General and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2017Number_of_Limited_Partners$ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Investor Partners | Number_of_Limited_Partners	1,977
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	39.00%

Going Concern Natural Gas and C

Going Concern Natural Gas and Crude Oil Revenue (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Going Concern Disclosure [Abstract]
working capital	$ (1,510,000)	$ (1,177,000)

Asset Retirement Obligations 19

Asset Retirement Obligations Asset Retirement Obligations (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)Wells	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Wells	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Changes in carrying amounts of Asset Retirement Obligation [Line Items]
Oil and Gas Wells Plugged	10		14
Asset Retirement Obligation, Revision of Estimate			$ (107,902)
Changes in asset retirement obligations
Balance at December 31, 2016			2,529,429
Obligations discharged with asset retirements	$ (494,000)		(657,282)	$ (39,588)
Accretion expense	30,758	$ 42,495	117,156	125,485
Gain on settlement of asset retirement obligations, net	(89,396)	$ 3,223	(151,126)	$ 3,223
Balance at September 30, 2017	1,730,275		1,730,275
Less current portion	(800,000)		(800,000)		$ (977,500)
Long-term portion	930,275		930,275		$ 1,551,929
Asset Retirement Obligation, Liabilities Settled	$ 583,300		$ 808,400
Minimum [Member]
Changes in asset retirement obligations
OIl and Gas Wells Expected to be Plugged | Wells	16		16

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details)	9 Months Ended
	Sep. 30, 2017
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 natural 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 recorded 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. Except as discussed herein, the Managing General Partner is not aware of any material environmental claims existing as of September 30, 2017 which have not been provided for or would otherwise have a material impact on this Partnership's financial statements; however, there can be no assurance that current regulatory requirements will not change or that unknown potential past non-compliance with environmental laws or other potential sources of liability will not be discovered on this Partnership's properties. However, the liability ultimately incurred with respect to a matter may exceed the related accrual. Clean Air Act Tentative Agreement and Related Consent Decree In August 2015, the Managing General Partner received a Clean Air Act Section 114 Information Request (the "Information Request") from the U.S. Environmental Protection Agency ("EPA"). The Information Request sought, among other things, information related to the design, operation, and maintenance of this Partnership's Wattenberg Field production facilities in the Denver-Julesburg Basin ("DJ Basin") of Colorado. The Information Request focused on historical operation and design information at certain of the Managing General Partner's production facilities and asked that the Managing General Partner conduct sampling and analyses at the facilities. The Managing General Partner responded with the requested data to the Information Request in January 2016. 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 (“CDPHE”) Air Quality Control Commission's Air Pollution Control Division alleging that the Managing General Partner failed to design, operate, and maintain certain condensate collection, storage, processing, and handling operations to minimize leakage of volatile organic compounds at certain production facilities consistent with applicable standards under Colorado law. For more than a year, the Managing General Partner held a series of meetings with the EPA, Department of Justice (“DOJ”) and CDPHE on the above matters. On June 26, 2017, the DOJ on behalf of the EPA, and the State of Colorado filed a complaint against PDC based on the above matters. A consent decree resolving the matter was signed by all parties on October 31, 2017 and is subject to a 30-day comment period, which will be publicly published in the Federal Register. The consent decree provides that the Managing General Partner will implement changes to the design, operation, and maintenance of most of its field-wide storage tank systems to enhance the emission management in the DJ Basin. Agreed upon and planned efforts include, but are not limited to, vapor control system modifications and verification, increased inspection and monitoring, and installation of tank pressure monitors. The three primary elements of the tentative settlement are: (i) fine/supplemental environmental projects; (ii) injunctive relief; and (iii) mitigation. The Managing General Partner will pay the total amount of the fine and cost associated with supplemental environmental projects. This Partnership will share proportionally in the injunctive relief and may share in the mitigation efforts required by the consent decree. The consent decree includes substantially all of this Partnership’s wells located across 21 production facilities. The profitability of older low-production wells, such as those owned by this Partnership, is likely to be affected in a negative manner by the required costs associated with the injunctive relief and mitigation, which could result in decisions to plug additional wells owned by this Partnership.

Transactions with Managing Ge21

Transactions with Managing General Partner Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction
Due to Managing General Partner-other,net	$ 840,070		$ 840,070		$ 403,865
Direct costs - general and administrative	28,217	$ 52,296	106,455	$ 109,817
Managing General Partner [Member]
Related Party Transaction
Well operations and maintenance	$ 19,978	$ 43,671	$ 116,131	$ 141,422