Organization and Basis of Presentation	12 Months Ended
Organization and Basis of Presentation	Dec. 31, 2013
Organization and Basis of Presentation
Organization and Basis of Presentation	1. Organization and Basis of Presentation Reef Oil & Gas Drilling and Income Fund, L.P. (the “Partnership”) is a limited partnership formed under the laws of Texas on September 6, 2012 (“date of inception”). The Partnership was formed to drill and own interests in oil and gas properties located in the United States with a primary focus on the Bakken area in North Dakota. The Partnership may purchase undeveloped leasehold interests, as well as working interests in oil and gas properties with both developed and undeveloped reserves. The primary purpose of the Partnership is to generate revenue from the production of crude oil and natural gas, distribute cash to the partners, and provide the tax benefits that are available to those that drill for and produce crude oil and natural gas. Reef Oil & Gas Partners, L.P. (“Reef”) is the managing general partner of the Partnership. On September 4, 2013, the Securities and Exchange Commission (“SEC”) declared the Partnership’s registration statement on Form S-1 (File No. 333-172846) effective for the Partnership’s public offering, pursuant to which the Partnership filed a prospectus dated September 16, 2013 and commenced the offering of Partnership units. The Partnership may sell up to 2,250 units of partner interest at a price of $100,000 per unit, for a maximum offering amount of $225,000,000. The Partnership is offering a maximum 1,912.25 units of general partner interest ($191,250,000) and a maximum 337.75 units of limited partner interest ($33,750,000). Between the date of inception and September 16, 2013, the date of the Partnership’s prospectus, the Partnership did not raise any capital from investors or conduct any business. Therefore, at December 31, 2012, the Partnership had no assets, liabilities, or net worth. The offering of Partnership units commenced September 16, 2013, and the first sale of units occurred during October 2013. As managing general partner, Reef will receive a 10% general partner interest in the Partnership as compensation for forming the Partnership, and will acquire a 1% general partner interest in the Partnership as a result of contributing 1% of the net capital of the Partnership after payment of all organization and operating costs. In addition, Reef will purchase a minimum of 1% of the units issued by the Partnership. The net proceeds from the offering will be used for lease and property acquisition costs, intangible drilling and development costs, and well completion costs. The offering period commenced on September 16, 2013 and terminates on June 30, 2015, unless the Partnership is fully subscribed or Reef terminates the offering prior to that date. Reef, as managing general partner, received a 10% general partner interest in the Partnership as compensation for forming the Partnership, and also will acquire a 1% general partner interest in the Partnership as a result of contributing 1% of the net capital of the Partnership, after payment of all organization and offering costs. This 11% interest is not represented by Partnership units. In addition, Reef will purchase a minimum of 1% of total Partnership units and, therefore, hold a minimum of 1% of the 89% interest in the Partnership (0.89%) held by the unit holders. Once the investor partners have received in cash distributions amounts equal to their capital contributions, Reef will receive an additional 10% general partner interest in the Partnership, and the unit holders interest in the Partnership will drop from 89% to 79%. Under the terms of the partnership agreement, certain income and expense items are allocated differently between the managing general partner and the investor partners. Allocations of income and expense to the managing general partner and investor partners are made monthly based upon the number and type of partnership units held at the end of the prior month. Organization and offering costs are allocated 100% to investor partners, as the managing general partner purchases its units net of the 15% management fee. Once the Partnership has crude oil and natural gas revenues, cash distributions to partners will be based upon the number and type of partnership units held at the close of the prior month. As of December 31, 2013, Reef has purchased 1% of total Partnership units. Therefore, cash distributions to partners of the net cash flow from crude oil and natural gas sales, less operating, general and administrative, and other costs would be distributed 11.89% to the managing general partner (based upon the 11% interest not represented by units and the 0.89% interest represented by Partnership units) and 88.11% to investor partners.

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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Reef Oil & Gas Drilling & Income Fund, L.P. 10-K