UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 10549

                                     FORM 15

   Certification and Notice of Termination of Registration under Section 12(g)
  of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports
                       Under Sections 13 and 15(d) of the
                        Securities Exchange Act of 1934.


                                            Commission File Number     33-3353C
                                                                       --------

                           Parker & Parsley 86-C, Ltd.
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             (Exact name of registrant as specified in its charter)

                       5205 N. O'Connor Blvd., Suite 1400
                               Irving, Texas 75039
                                 (972) 444-9001
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   (Address, including zip code, and telephone number, including area code, of
                    registrant's principal executive offices)

                          Limited Partnership Interests
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            (Title of each class of securities covered by this Form)

                                      None
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         (Titles of all other classes of securities for which a duty to
               file reports under Section 13(a) or 15(d) remains)


     Please  place  an X in  the  box(es)  to  designate  the  appropriate  rule
provision(s) relied upon to terminate or suspend the duty to file reports:

         Rule 12g-4(a)(1)(i)      |X|          Rule 12h-3(b)(1)(i)      |X|
         Rule 12g-4(a)(1)(ii)     |_|          Rule 12h-3(b)(1)(ii)     |_|
         Rule 12g-4(a)(2)(i)      |_|          Rule 12h-3(b)(2)(i)      |_|
         Rule 12g-4(a)(2)(ii)     |_|          Rule 12h-3(b)(2)(ii)     |_|
                                               Rule 15d-6               |_|


                     Approximate number of holders of record
                  as of the certification or notice date: None

     Pursuant to the requirements of the Securities Exchange Act of 1934, Parker
& Parsley 86-C, Ltd., has caused this  certification/notice  to be signed on its
behalf by the undersigned duly authorized person.

DATE:  December 20, 2001        By:   Pioneer Natural Resources USA, Inc.,
                                      as the managing or sole general partner
                                      of Parker & Parsley 86-C, Ltd.


                                By:   /s/ Mark L. Withrow
                                    ------------------------------------------
                                      Mark L. Withrow
                                      Executive Vice President, General Counsel
                                      and Secretary