UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Act of 1934
Date of Report (Date of earliest event reported): August 8, 2007
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-A
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-B
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-C
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-D
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-G
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-H
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(Exact name of Registrant as specified in its Charter)
II-A: 0-16388 II-A: 73-1295505
II-B: 0-16405 II-B: 73-1303341
II-C: 0-16981 II-C: 73-1308986
II-D: 0-16980 II-D: 73-1329761
II-E: 0-17320 II-E: 73-1324751
II-F: 0-17799 II-F: 73-1330632
II-G: 0-17802 II-G: 73-1336572
Oklahoma II-H: 0-18305 II-H: 73-1342476
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
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 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(B) General - On February 5, 2007, the General Partner (Geodyne Resources,
Inc.) mailed a notice to the limited partners announcing that the Geodyne
Energy Income Limited Partnership II-A (the "II-A Partnership"), the
Geodyne Energy Income Limited Partnership II-B (the "II-B Partnership"),
the Geodyne Energy Income Limited Partnership II-C (the "II-C
Partnership"), the Geodyne Energy Income Limited Partnership II-D (the
"II-D Partnership"), the Geodyne Energy Income Limited Partnership II-E
(the "II-E Partnership"), the Geodyne Energy Income Limited Partnership
II-F (the "II-F Partnership"), the Geodyne Energy Income Limited
Partnership II-G (the "II-G Partnership"), and the Geodyne Energy Income
Limited Partnership II-H (the "II-H Partnership") (collectively, the
"Partnerships") will terminate at the end of their current term, December
31, 2007. Consequently, the Partnerships adopted the liquidation basis of
accounting effective February 5, 2007. The liquidation basis of accounting
reports the net assets of the Partnerships at their net realizable value.
Adjustments were made to reduce all balance sheet categories into one line,
"net assets of Partnership in liquidation", which is an estimate of the net
fair value of all Partnership assets and liabilities. Cash, accounts
receivable, and accounts payable were valued at their historical cost,
which approximates fair value. Oil and gas properties were valued at their
estimated net sales price, which was estimated utilizing discounted cash
flows based on strip pricing as of June 30, 2007 at a discount rate of 10%
for proved developed producing reserves, 18% for proved developed
non-producing reserves and 20% for proved undeveloped reserves. An
adjustment was made to the discounted cash flows for the effects of gas
balancing and asset retirement obligations. A provision was also made to
account for direct expenses that will be incurred related to the sale of
the oil and gas properties. The allocation of the "net assets of
Partnership in liquidation" to the General Partner and limited partners was
calculated using the current allocation of income and expenses, which may
change if a Partnership's distributions from the commencement of the
property investment period reach a yearly average equal to at least 12% of
the limited partners subscriptions. The adoption of the liquidation basis
of accounting on February 5, 2007 resulted in an increase in the
Partnerships' net assets as follows, at June 30, 2007:
II-A $22,768,354
II-B 17,477,004
II-C 9,886,246
II-D 20,398,628
II-E 9,877,964
II-F 10,330,855
II-G 21,937,508
II-H 5,221,024
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Pro forma unaudited financial information - A limited number of pro forma
adjustments are required to illustrate the effects of the August 8, 2007
Oil and Gas Clearinghouse auction (the "August Auction") on the Combined
Unaudited Statements of Net Assets of Partnership in Liquidation, Combined
Unaudited Statements of Changes in Net Assets of Partnership in
Liquidation, and Combined Unaudited Statements of Operations. The following
narrative description is furnished in lieu of the pro forma statements,
assuming the properties were sold on January 1, 2006.
(1) II-A Partnership
(a) August 2007 Auction
The II-A Partnership's net fair value of its oil and gas properties
sold in the August Auction was $2,397,512 as of June 30, 2007. The net
sales proceeds were approximately $2,616,000.
For the six months ended June 30, 2007, the II-A Partnership's total
revenues and operating expenses would have been reduced by $428,990
and $198,220, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-A Partnership's Net
Income from Continuing Operations would have decreased by $221,188,
representing a reduction in oil and gas sales of $565,842, a reduction
in operating expenses of $324,626, a reduction in depreciation,
depletion, and amortization ("DD&A") of oil and gas properties of
$18,774, and a reduction in accretion of the asset retirement
obligation of $1,254.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction and the July 2007 auction described in previous
8-K filings. The following narrative description is furnished in lieu
of the pro forma statements, assuming the properties were sold on
January 1, 2006.
For the six months ended June 30, 2007, the II-A Partnership's total
revenues and operating expenses would have been reduced by $1,029,799
and $390,354, respectively. Under liquidation accounting, discontinued
operations are
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no longer presented. Revenues and expenses for the six months ended
June 30, 2007 include all sold properties. Revenues and expenses for
the year ended December 31, 2006 include only the sold properties
classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-A Partnership's Net
Income from Continuing Operations would have decreased by $1,289,091,
representing a reduction in oil and gas sales of $1,982,193, a
reduction in operating expenses of $593,799, a reduction in DD&A of
oil and gas properties of $78,062, and a reduction in accretion of the
asset retirement obligation of $21,241.
(2) II-B Partnership
(a) August 2007 Auction
The II-B Partnership's net fair value of its oil and gas properties
sold in the August Auction was $1,642,183 as of June 30, 2007. The net
sales proceeds were approximately $1,965,000.
For the six months ended June 30, 2007, the II-B Partnership's total
revenues and operating expenses would have been reduced by $349,638
and $206,758, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-B Partnership's Net
Income from Continuing Operations would have decreased by $367,841,
representing a reduction in oil and gas sales of $824,294, a reduction
in operating expenses of $427,766, a reduction in DD&A of oil and gas
properties of $27,036, and a reduction in accretion of the asset
retirement obligation of $1,651.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction and the July 2007 auction described in previous
8-K filings. The following narrative description is furnished in lieu
of the pro forma statements, assuming the properties were sold on
January 1, 2006.
For the six months ended June 30, 2007, the II-B Partnership's total
revenues and operating expenses would have been reduced by $439,852
and $217,200, respectively.
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Under liquidation accounting, discontinued operations are no longer
presented. Revenues and expenses for the six months ended June 30,
2007 include all sold properties. Revenues and expenses for the year
ended December 31, 2006 include only the sold properties classified as
continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-B Partnership's Net
Income from Continuing Operations would have decreased by $598,835,
representing a reduction in oil and gas sales of $1,081,825, a
reduction in operating expenses of $451,196, a reduction in DD&A of
oil and gas properties of $29,783, and a reduction in accretion of the
asset retirement obligation of $2,011.
(3) II-C Partnership
(a) August 2007 Auction
The II-C Partnership's net fair value of its oil and gas properties
sold in the August Auction was $730,373 as of June 30, 2007. The net
sales proceeds were approximately $848,000.
For the six months ended June 30, 2007, the II-C Partnership's total
revenues and operating expenses would have been reduced by $160,067
and $89,965, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-C Partnership's Net
Income from Continuing Operations would have decreased by $172,318,
representing a reduction in oil and gas sales of $371,353, a reduction
in operating expenses of $186,482, a reduction in DD&A of oil and gas
properties of $11,825, and a reduction in accretion of the asset
retirement obligation of $728.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction and the July 2007 auction described in previous
8-K filings. The following narrative description is furnished in lieu
of the pro forma statements, assuming the properties were sold on
January 1, 2006.
For the six months ended June 30, 2007, the II-C Partnership's total
revenues and operating expenses would
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have been reduced by $205,930 and $97,150, respectively. Under
liquidation accounting, discontinued operations are no longer
presented. Revenues and expenses for the six months ended June 30,
2007 include all sold properties. Revenues and expenses for the year
ended December 31, 2006 include only the sold properties classified as
continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-C Partnership's Net
Income from Continuing Operations would have decreased by $273,294,
representing a reduction in oil and gas sales of $490,464, a reduction
in operating expenses of $200,858, a reduction in DD&A of oil and gas
properties of $15,372, and a reduction in accretion of the asset
retirement obligation of $940.
(4) II-D Partnership
(a) August 2007 Auction
The II-D Partnership's net fair value of its oil and gas properties
sold in the August Auction was $1,276,204 as of June 30, 2007. The net
sales proceeds were approximately $1,236,000.
For the six months ended June 30, 2007, the II-D Partnership's total
revenues and operating expenses would have been reduced by $164,980
and $37,510, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-D Partnership's Net
Income from Continuing Operations would have decreased by $202,272,
representing a reduction in oil and gas sales of $362,907, a reduction
in operating expenses of $142,116, a reduction in DD&A of oil and gas
properties of $17,618, and a reduction in accretion of the asset
retirement obligation of $901.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction and the July 2007 auction described in previous
8-K filings. The following narrative description is furnished in lieu
of the pro forma statements, assuming the properties were sold on
January 1, 2006.
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For the six months ended June 30, 2007, the II-D Partnership's total
revenues and operating expenses would have been reduced by $603,571
and $186,577, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-D Partnership's Net
Income from Continuing Operations would have decreased by $854,245,
representing a reduction in oil and gas sales of $1,331,794, a
reduction in operating expenses of $417,235, a reduction in DD&A of
oil and gas properties of $56,613, and a reduction in accretion of the
asset retirement obligation of $3,701.
(5) II-E Partnership
(a) August 2007 Auction
The II-E Partnership's net fair value of its oil and gas properties
sold in the August Auction was $2,240,202 as of June 30, 2007. The net
sales proceeds were approximately $2,872,000.
For the six months ended June 30, 2007, the II-E Partnership's total
revenues and operating expenses would have been reduced by $301,146
and $87,153, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-E Partnership's Net
Income from Continuing Operations would have decreased by $130,896,
representing a reduction in oil and gas sales of $446,933, a reduction
in operating expenses of $271,973, a reduction in DD&A of oil and gas
properties of $42,265, and a reduction in accretion of the asset
retirement obligation of $1,799.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction and the May and July 2007 auctions described in
previous 8-K filings. The following narrative description is furnished
in lieu of the pro forma statements, assuming the properties were sold
on January 1, 2006.
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For the six months ended June 30, 2007, the II-E Partnership's total
revenues and operating expenses would have been reduced by $573,646
and $166,944, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-E Partnership's Net
Income from Continuing Operations would have decreased by $538,197,
representing a reduction in oil and gas sales of $1,012,529, a
reduction in operating expenses of $421,765, a reduction in DD&A of
oil and gas properties of $49,315, and a reduction in accretion of the
asset retirement obligation of $3,252.
(6) II-F Partnership
(a) August 2007 Auction
The II-F Partnership's net fair value of its oil and gas properties
sold in the August Auction was $3,278,010 as of June 30, 2007. The net
sales proceeds were approximately $4,338,000.
For the six months ended June 30, 2007, the II-F Partnership's total
revenues and operating expenses would have been reduced by $402,855
and $96,772, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-F Partnership's Net
Income from Continuing Operations would have decreased by $79,445,
representing a reduction in oil and gas sales of $231,973, a reduction
in operating expenses of $130,263, a reduction in DD&A of oil and gas
properties of $21,392, and a reduction in accretion of the asset
retirement obligation of $873.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction, the May 2007 auction described in previous 8-K
filings, and other miscellaneous property sales that occurred in July
2007. The following
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narrative description is furnished in lieu of the pro forma
statements, assuming the properties were sold on January 1, 2006.
For the six months ended June 30, 2007, the II-F Partnership's total
revenues and operating expenses would have been reduced by $478,449
and $100,320, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-F Partnership's Net
Income from Continuing Operations would have decreased by $81,142,
representing a reduction in oil and gas sales of $234,258, a reduction
in operating expenses of $130,826, a reduction in DD&A of oil and gas
properties of $21,400, and a reduction in accretion of the asset
retirement obligation of $890.
(7) II-G Partnership
(a) August 2007 Auction
The II-G Partnership's net fair value of its oil and gas properties
sold in the August Auction was $7,043,841 as of June 30, 2007. The net
sales proceeds were approximately $9,313,000.
For the six months ended June 30, 2007, the II-G Partnership's total
revenues and operating expenses would have been reduced by $845,572
and $202,816, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-G Partnership's Net
Income from Continuing Operations would have decreased by $166,112,
representing a reduction in oil and gas sales of $485,335, a reduction
in operating expenses of $272,428, a reduction in DD&A of oil and gas
properties of $44,959, and a reduction in accretion of the asset
retirement obligation of $1,836.
(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction, the May 2007 auction
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described in previous 8-K filings, and other miscellaneous property
sales that occurred in July 2007. The following narrative description
is furnished in lieu of the pro forma statements, assuming the
properties were sold on January 1, 2006.
For the six months ended June 30, 2007, the II-G Partnership's total
revenues and operating expenses would have been reduced by $1,003,453
and $210,252, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-G Partnership's Net
Income from Continuing Operations would have decreased by $169,753,
representing a reduction in oil and gas sales of $490,250, a reduction
in operating expenses of $273,641, a reduction in DD&A of oil and gas
properties of $44,977, and a reduction in accretion of the asset
retirement obligation of $1,879.
(8) II-H Partnership
(a) August 2007 Auction
The II-H Partnership's net fair value of its oil and gas properties
sold in the August Auction was $1,552,308 as of June 30, 2007. The net
sales proceeds were approximately $2,056,000.
For the six months ended June 30, 2007, the II-H Partnership's total
revenues and operating expenses would have been reduced by $193,988
and $46,768, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-H Partnership's Net
Income from Continuing Operations would have decreased by $37,320,
representing a reduction in oil and gas sales of $111,178, a reduction
in operating expenses of $62,940, a reduction in DD&A of oil and gas
properties of $10,495, and a reduction in accretion of the asset
retirement obligation of $423.
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(b) Cumulative Effect
The paragraphs below give effect to the sale of producing properties
at the August Auction, the May 2007 auction described in previous 8-K
filings, and other miscellaneous property sales that occurred in July
2007. The following narrative description is furnished in lieu of the
pro forma statements, assuming the properties were sold on January 1,
2006.
For the six months ended June 30, 2007, the II-H Partnership's total
revenues and operating expenses would have been reduced by $230,574
and $48,493, respectively. Under liquidation accounting, discontinued
operations are no longer presented. Revenues and expenses for the six
months ended June 30, 2007 include all sold properties. Revenues and
expenses for the year ended December 31, 2006 include only the sold
properties classified as continuing operations at December 31, 2006.
For the year ended December 31, 2006, the II-H Partnership's Net
Income from Continuing Operations would have decreased by $38,229,
representing a reduction in oil and gas sales of $112,404, a reduction
in operating expenses of $63,242, a reduction in DD&A of oil and gas
properties of $10,499, and a reduction in accretion of the asset
retirement obligation of $434.
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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-A
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-B
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-C
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-D
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-E
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-F
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-G
GEODYNE ENERGY INCOME LIMITED PARTNERSHIP II-H
By: GEODYNE RESOURCES, INC.
General Partner
//s// Dennis R. Neill
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Dennis R. Neill
President
DATE: August 29, 2007
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