UNITED STATES
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 1, 2007
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-B
-------------------------------------------------------------------
(Exact name of Registrant as specified in its Charter)
Oklahoma 0-16405 73-1303341
---------------- ---------------- -------------------
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
Two West Second Street, Tulsa, Oklahoma 74103
-----------------------------------------------------------------
(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))
-1-
ITEM 2.01. COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
On February 1, 2007 the Geodyne Energy Income Limited Partnership II-B (the
"Partnership") sold its interests in certain producing properties to independent
third parties at The Oil and Gas Clearinghouse auction in Houston, Texas for net
proceeds as described below:
Reserves
Number Sold as Reserve
of Location Number of 12/31/05 Value
Wells of of Oil Gas Sold Net
P/ship Sold Properties Purchasers (Bbls) (Mcf) 12/31/05 Proceeds
- ------ ------ ------------- ---------- ------- ------- --------- --------
II-B 3 Pecos and 2 - 91,070 $555,970 $492,057
DeWitt Co. TX
The transactions are subject to standard auction closing conditions.
The proceeds from the sales, less any additional transaction costs, will be
included in the February 15, 2007 cash distributions paid by the Partnerships.
This sale was part of the General Partner's plan (previously disclosed in
the Partnerships' December 31, 2005 Annual Report on Form 10-K) to sell an
increased amount of the Partnerships' properties as a result of the generally
favorable current environment for oil and gas dispositions. Additional
properties will be sold at auctions in 2007 in anticipation of the Partnership's
scheduled termination on December 31, 2007 (see current report on Form 8-K filed
February 7, 2007).
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
The pro forma financial information that would be required pursuant to
Article 11 of Regulation S-X will be filed by amendment to this Form 8-K on or
before February 16, 2007.
-2-
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 ENERGY INCOME LIMITED
PARTNERSHIP II-B
By: GEODYNE RESOURCES, INC.
General Partner
//s// Dennis R. Neill
-----------------------------
Dennis R. Neill
President
DATE: February 7, 2007
-3-