SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                           The Securities Act of 1934


       Date of Report (Date of earliest event reported): February 5, 2007


      GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-7
      GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-8
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             (Exact name of Registrant as specified in its Articles)

                          P-7:  0-20265        P-7:      73-1367186
   Oklahoma               P-8:  0-20264        P-8:      73-1378683
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(State or other            (Commission           (I.R.S. Employer
jurisdiction of              File No.)            Identification)
incorporation or
organization)



                  Two West Second Street, Tulsa, Oklahoma 74103
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               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (918) 583-1791

      Check the  appropriate  box below if the Form 8-K  filing is  intended  to
simultaneously  satisfy the filing obligation of the Registrant under any of the
following provisions:

      [  ] Written  communications  pursuant to Rule 425 under the Securities
           Act (17 CFR 230.425)
      [  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
           (17 CFR 240.14a-12)
      [  ] Pre-commencement  communications  pursuant to Rule 14d-2(b) under
           the Exchange Act (17 CFR 240.14d-2(b))
      [  ] Pre-commencement  communications  pursuant to Rule 13e-4(c) under
           the Exchange Act (17 CFR 240.13e-4(c))





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ITEM 8:   OTHER EVENTS

      Termination of Partnerships.  The General Partner has notified the limited
partners of Geodyne  Institutional/Pension Energy Income Limited Partnership P-7
and  Geodyne   Institutional/Pension   Energy  Income  Limited  Partnership  P-8
(collectively,  the  "Partnerships")  that, pursuant to the terms of the limited
partnership agreements for the Partnerships,  the Partnerships will terminate on
December 31, 2007. Attached is a copy of the letter sent to the limited partners
on or about February 5, 2007 setting forth the notice of termination and related
matters.

ITEM 9:     EXHIBITS

20.1     Letter    sent   to   the    limited    partners    of   the    Geodyne
         Institutional/Pension Energy Income Limited Partnership P-7 on or about
         February 5, 2007.

20.2     Letter    sent   to   the    limited    partners    of   the    Geodyne
         Institutional/Pension Energy Income Limited Partnership P-8 on or about
         February 5, 2007.

                                   SIGNATURES

      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.

                                    GEODYNE INSTITUTIONAL/PENSION ENERGY
                                    INCOME LIMITED PARTNERSHIP P-7
                                    GEODYNE INSTITUTIONAL/PENSION ENERGY
                                    INCOME LIMITED PARTNERSHIP P-8

                                    By:  GEODYNE RESOURCES, INC.
                                         General Partner

                                        //s// Dennis R. Neill
                                    -----------------------------
                                    Dennis R. Neill
                                    President

DATE: February 7, 2007


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