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                                                                    EXHIBIT 23.2



          CONSENT OF INDEPENDENT PETROLEUM ENGINEERS AND GEOLOGISTS

        As independent oil and gas consultants, Cawley, Gillespie & Associates,
Inc. hereby consent to (a) the use of our audit letter prepared for Parker &
Parsley Petroleum Company ("Parker & Parsley") effective December 31, 1995, (b)
all references to our firm included in or made a part of Parker & Parsley's
Annual Report on Form 10-K for the year ended December 31, 1995 (the "1995 Form
10-K") and (c) the incorporation by reference into Parker & Parsley's
Registration Statement on Form S-3 of all references to our firm included in or
made a part of the 1995 Form 10-K.



                                     CAWLEY, GILLESPIE & ASSOCIATES, INC.



Fort Worth, Texas
February 5, 1997