PDC 2002 C LTD PARTNERSHIP

CIK:0001224951|SEC Filings

Statements of Operations Statement (USD $)	12 Months Ended
Statements of Operations Statement (USD $)	Dec. 31, 2013	Dec. 31, 2012
Revenues:
Crude oil, natural gas and NGLs sales	$ 254,904	$ 273,579
Commodity price risk management gain (loss), net	(13,274)	39,368
Total revenues	241,630	312,947
Operating costs and expenses:
Crude oil, natural gas and NGLs production costs	124,534	72,010
Direct costs - general and administrative	131,667	127,104
Depreciation, depletion and amortization	179,029	158,937
Accretion of asset retirement obligations	14,325	13,304
Impairment of crude oil and natural gas properties	1,230,632	0
Total operating costs and expenses	1,680,187	371,355
Loss from operations	(1,438,557)	(58,408)
Interest Income	354	14
Loss from continuing operations	(1,438,203)	(58,394)
Income from discontinued operations	333,392	2,532
Net loss	(1,104,811)	(55,862)
Loss from continuing operations	(1,438,203)	(58,394)
Less: Managing General Partner interest in net loss from continuing operations	(287,641)	(11,679)
Net loss from continuing operations allocated to Investor Partners	(1,150,562)	(46,715)
Continuing Operations	$ (2,438)	$ (99)
Discontinued Operations	$ 565	$ 4
Net loss per Investor Partner unit	$ (1,873)	$ (95)
Investor Partner units outstanding	471.91	471.91
Managing General Partner
Operating costs and expenses:
Income from discontinued operations	66,678	506
Investor Partners
Operating costs and expenses:
Income from discontinued operations	$ 266,714	$ 2,026

Statements of Cash Flows Statement (USD $)	12 Months Ended
Statements of Cash Flows Statement (USD $)	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net loss	$ (1,104,811)	$ (55,862)
Adjustments to net loss to reconcile to net cash from operating activities:
Depreciation, depletion and amortization	182,409	179,705
Accretion of asset retirement obligations	15,330	15,615
Net change in fair value of unsettled derivatives	71,195	85,220
Gain on sale of natural gas and crude oil properties	347,132	0
Impairment of natural gas and crude oil properties	1,230,632	0
Changes in assets and liabilities:
Accounts receivable	5,645	18,276
Crude oil inventory	(4,759)	4,607
Other assets	(5,446)	(6,616)
Accounts payable and accrued expenses	(2,149)	(99,349)
Due to Managing General Partner-other, net	139,044	(64,360)
Net cash from operating activities	179,958	77,236
Cash flows from investing activities:
Capital expenditures for natural gas and crude oil properties	(27,577)	(534)
Proceeds from sale of natural gas and crude oil properties	389,296	0
Net cash from investing activities	361,719	(534)
Cash flows from financing activities:
Distributions to Partners	(271,859)	(76,831)
Net cash from financing activities	(271,859)	(76,831)
Net change in cash and cash equivalents	269,818	(129)
Cash and cash equivalents, beginning of period	7,234	7,363
Cash and cash equivalents, end of period	$ 277,052	$ 7,234

Balance Sheets Statement (USD $)	Dec. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 277,052	$ 7,234
Accounts receivable	33,397	39,042
Crude oil inventory	18,278	14,763
Due from Managing General Partner-derivatives	0	165,345
Total current assets	328,727	226,384
Crude oil and Natural gas properties, successful efforts method, at cost	1,387,267	6,969,870
Less: Accumulated depreciation, depletion and amortization	(927,754)	(5,062,654)
Natural gas and crude oil properties, net	459,513	1,907,216
Other assets	54,222	48,776
Total Assets	842,462	2,182,376
Current liabilities:
Accounts payable and accrued expenses	2,639	4,788
Due to Managing General Partner-derivatives	0	75,194
Due to Managing General Partner-other, net	165,190	26,146
Total current liabilities	167,829	106,128
Asset retirement obligations	211,823	236,768
Total liabilities	379,652	342,896
Commitments and contingent liabilities
Partners' equity:
Managing General Partner	107,981	377,332
Limited Partners - 471.91 units issued and outstanding	354,829	1,462,148
Total Partners' equity	462,810	1,839,480
Total Liabilities and Partners' Equity	$ 842,462	$ 2,182,376