-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CdFByzweUgCIDn29MCsQpPrt6bPZPnYEvtcFvx9QmVCDfuyUP9LnW5npQge8N6Do
 v7m0q5CglwsYUe1bHGNhsQ==

<SEC-DOCUMENT>/in/edgar/work/20000901/0001033333-00-000023/0001033333-00-000023.txt : 20000922
<SEC-HEADER>0001033333-00-000023.hdr.sgml : 20000922
ACCESSION NUMBER:		0001033333-00-000023
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20000830
FILED AS OF DATE:		20000901

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOUTHWEST ROYALTIES INC INCOME FUND V
		CENTRAL INDEX KEY:			0000782149
		STANDARD INDUSTRIAL CLASSIFICATION:	 [1311
]		IRS NUMBER:				752104619
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		4
			SEC ACT:		
			SEC FILE NUMBER:	000-15408
			FILM NUMBER:		715428
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		407 N BIG SPRING STE 300
				CITY:			MIDLAND
				STATE:			TX
				ZIP:			79701
				BUSINESS PHONE:		9156869927
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		407 N BIG SPRING STE 300
					CITY:			MIDLAND
					STATE:			TX
					ZIP:			79701
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<REPORTING-OWNER>

					COMPANY DATA:	
						COMPANY CONFORMED NAME:			PERSON J STEVEN
						CENTRAL INDEX KEY:			0001033333
						STANDARD INDUSTRIAL CLASSIFICATION:	 [
]<RELATIONSHIP>OWNER
</COMPANY-DATA>

						FILING VALUES:
							FORM TYPE:		4
</FILING-VALUES>

							BUSINESS ADDRESS:	
								STREET 1:		C/O N BIG SPRING
								STREET 2:		407 N BIG SPRING SUITE 300
								CITY:			NIDLAND
								STATE:			TX
								ZIP:			79701
								BUSINESS PHONE:		9156869927
</BUSINESS-ADDRESS>

								MAIL ADDRESS:	
									STREET 1:		407 N BIG SPRING STREET
									STREET 2:		SUITE 300
									CITY:			MIDLAND
									STATE:			TX
									ZIP:			79701
</MAIL-ADDRESS>
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>0001.txt
<TEXT>

                 U. S. Securities and Exchange Commission
                         Washington, D. C. 20549

                                  FORM 4

               STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP


Filed  pursuant to Section 16(a) of the Securities Exchange  Act  of  1934,
Section  17(a) of the Public Utility Holding Company Act of 1935 or Section
30(f) of the Investment Company Act of 1940.

1.   Name and Address of Reporting Person
          J Steven Person
          407 N. Big Spring Street
          Midland, TX  79701

2.   Issuer Name and Ticker or Trading Symbol
          Southwest Royalties, Inc. Income Fund V

3.   IRS or Social Security Number of Reporting Person
          ###-##-####

4.   Statement for Month/Year
          August 2000

5.   If Amendment, Date of Original
          N/A

6.   Relationship of Reporting Person to Issuer
               Vice President of Marketing


Date: September 1, 2000             By:  /s/ J Steven Person
                                        ----------------------------------
                                        J Steven Person, Vice-President of
                                         Marketing  of Southwest Royalties,
Inc.
                                        the Managing General Partner

<PAGE>


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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