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): December 31, 2007

      GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-7
      GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-8
      -------------------------------------------------------------------
             (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
- ----------------              --------------          -----------------
(State or other               (Commission             (I.R.S. Employer
jurisdiction of                 File No.)              Identification)
incorporation or
organization)

                  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 8:   OTHER EVENTS

      Termination  of  Partnership.  The  Geodyne  Institutional/Pension  Energy
Income Limited Partnership P-7 and Geodyne  Institutional/Pension  Energy Income
Limited Partnership P-8, (the  "Partnerships")  terminated pursuant to the terms
of their limited partnership agreements on December 31, 2007. Attached is a copy
of the letter to be sent to the  limited  partners  on or about  January 2, 2008
setting forth the notice of termination and related matters.

      Deregistration  of  Partnership.  As a result  of the  termination  of the
Partnerships,  the Partnerships will file on December 31, 2007 Forms 15 with the
Securities and Exchange  Commission  deregistering  the Partnerships  from their
securities reporting obligations at December 31, 2007.

ITEM 9:   EXHIBITS

20.1     Letter   to   be   sent   to   the   limited    partners   of   Geodyne
         Institutional/Pension Energy Income Limited Partnership P-7 on or about
         January 2, 2008.

20.2     Letter   to   be   sent   to   the   limited    partners   of   Geodyne
         Institutional/Pension Energy Income Limited Partnership P-8 on or about
         January 2, 2008.

                                   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: December 31, 2007

                                      -2-