<ARTICLE> 5 <CIK> 0000888240 <NAME> GEODYNE INSTITUTIONAL PENSION ENERGY INC LTD PARTNERSHIP P-7 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 601,419 <SECURITIES> 0 <RECEIVABLES> 285,035 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 886,454 <PP&E> 15,091,079 <DEPRECIATION> 9,408,160 <TOTAL-ASSETS> 6,569,373 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 6,569,373 <TOTAL-LIABILITY-AND-EQUITY> 6,569,373 <SALES> 661,119 <TOTAL-REVENUES> 666,175 <CGS> 0 <TOTAL-COSTS> 1,782,888 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (1,116,713) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,116,713) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,116,713) <EPS-PRIMARY> (5.99) <EPS-DILUTED> 0