SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 28, 1997
PARKER & PARSLEY PETROLEUM COMPANY
(Exact name of Registrant as specified in its charter)
Delaware 1-10695 74-2570602
(State or other jurisdiction of Commission (I.R.S. Employer
incorporation or organization) File Number Identification Number)
303 West Wall, Suite 101, Midland, Texas 79701
(Address of principal executive offices) (Zip code)
Registrant's Telephone Number, including area code : (915) 683-4768
Not applicable
(Former name, former address and former fiscal year,
if changed since last report)
Page 1 of 5 pages.
Exhibit Index on page 4.
ITEM 5. Other Events
On July 28, 1997, the Company announced the conversion of its 6 1/4%
Cumulative Guaranteed Monthly Income Convertible Preferred Shares ("Preferred
Shares") to common stock at a rate of 1.7778 shares of common stock for each
Preferred Share. The announcement is included as Exhibit 99 to this Report and
should be read in connection with the consolidated financial statements and
notes thereto included in the Company's 1996 Annual Report on Form 10-K. .
ITEM 7. Financial Statements and Exhibits
c) Exhibits:
99. - Press Release
2
PARKER & PARSLEY PETROLEUM COMPANY
S I G N A T U R E S
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PARKER & PARSLEY PETROLEUM COMPANY
Date: July 31, 1997 By: /s/ Scott D. Sheffield
----------------------------------
Scott D. Sheffield, President
and Chief Executive Officer
3
Exhibit Index
Exhibit No. Description
99. Press Release
4