The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities
OMB APPROVAL
OMB Number: 3235-0076
Estimated average burden
hours per response: 4.00

1. Issuer's Identity

CIK (Filer ID Number) Previous Names
X None
Entity Type
0001531160
   Corporation
X Limited Partnership
   Limited Liability Company
   General Partnership
   Business Trust
   Other (Specify)

Name of Issuer
Waveland Drilling Partners 2011-B, LP
Jurisdiction of Incorporation/Organization
DELAWARE
Year of Incorporation/Organization
   Over Five Years Ago
X Within Last Five Years (Specify Year) 2011
   Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
Waveland Drilling Partners 2011-B, LP
Street Address 1 Street Address 2
19800 MACARTHUR BLVD. SUITE 650
City State/Province/Country ZIP/PostalCode Phone Number of Issuer
IRVINE CALIFORNIA 92612 949-706-5000

3. Related Persons

Last Name First Name Middle Name
Greer Michael J.
Street Address 1 Street Address 2
19800 MacArthur Blvd Suite 650
City State/Province/Country ZIP/PostalCode
Irvine CALIFORNIA 92612
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Chief Executive Officer of Waveland Energy Partners LLC, Managing General Partner
Last Name First Name Middle Name
Fetters R. Thomas
Street Address 1 Street Address 2
19800 MACARTHUR BLVD. Suite 650
City State/Province/Country ZIP/PostalCode
Irvine CALIFORNIA 92612
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

President of Waveland Energy Partners LLC, Managing General Partner
Last Name First Name Middle Name
Ross Wayne A
Street Address 1 Street Address 2
19800 MACARTHUR BLVD. Suite 650
City State/Province/Country ZIP/PostalCode
Irvine CALIFORNIA 92612
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Chief Financial Officer of Waveland Energy Partners LLC, Managing General Partner
Last Name First Name Middle Name
Greer Vickie J
Street Address 1 Street Address 2
19800 MACARTHUR BLVD. Suite 650
City State/Province/Country ZIP/PostalCode
Irvine CALIFORNIA 92612
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Chief Operating Officer of Waveland Energy Partners LLC, Managing General Partner
Last Name First Name Middle Name
Singha Alexander A.P.
Street Address 1 Street Address 2
19800 MACARTHUR BLVD. Suite 650
City State/Province/Country ZIP/PostalCode
Irvine CALIFORNIA 92612
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Vice President - Administration of Waveland Energy Partners LLC, Managing General Partner
Last Name First Name Middle Name
Foshee K Dave
Street Address 1 Street Address 2
19800 MACARTHUR BLVD. Suite 650
City State/Province/Country ZIP/PostalCode
Irvine CALIFORNIA 92612
Relationship: X Executive Officer    Director    Promoter

Clarification of Response (if Necessary):

Vice President - Operations of Waveland Energy Partners LLC, Managing General Partner

4. Industry Group

   Agriculture
Banking & Financial Services
   Commercial Banking
   Insurance
   Investing
   Investment Banking
X Pooled Investment Fund
   Hedge Fund
X Private Equity Fund
   Venture Capital Fund
   Other Investment Fund
Is the issuer registered as
an investment company under
the Investment Company
Act of 1940?
   Yes X No
   Other Banking & Financial Services
   Business Services
Energy
   Coal Mining
   Electric Utilities
   Energy Conservation
   Environmental Services
   Oil & Gas
   Other Energy
Health Care
   Biotechnology
   Health Insurance
   Hospitals & Physicians
   Pharmaceuticals
   Other Health Care
   Manufacturing
Real Estate
   Commercial
   Construction
   REITS & Finance
   Residential
   Other Real Estate
  
 Retailing
  
 Restaurants
Technology
   Computers
   Telecommunications
   Other Technology
Travel
   Airlines & Airports
   Lodging & Conventions
   Tourism & Travel Services
   Other Travel
  
 Other

5. Issuer Size

Revenue Range OR Aggregate Net Asset Value Range
X No Revenues    No Aggregate Net Asset Value
   $1 - $1,000,000    $1 - $5,000,000
   $1,000,001 - $5,000,000    $5,000,001 - $25,000,000
   $5,000,001 - $25,000,000    $25,000,001 - $50,000,000
   $25,000,001 - $100,000,000    $50,000,001 - $100,000,000
   Over $100,000,000    Over $100,000,000
   Decline to Disclose    Decline to Disclose
   Not Applicable    Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

   Rule 504(b)(1) (not (i), (ii) or (iii))    Rule 505
   Rule 504 (b)(1)(i) X Rule 506
   Rule 504 (b)(1)(ii)    Securities Act Section 4(5)
   Rule 504 (b)(1)(iii)    Investment Company Act Section 3(c)
   Section 3(c)(1)    Section 3(c)(9)  
   Section 3(c)(2)    Section 3(c)(10)
   Section 3(c)(3)    Section 3(c)(11)
   Section 3(c)(4)    Section 3(c)(12)
   Section 3(c)(5)    Section 3(c)(13)
   Section 3(c)(6)    Section 3(c)(14)
   Section 3(c)(7)

7. Type of Filing

   New Notice Date of First Sale 2011-10-15    First Sale Yet to Occur
X Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year?
   Yes X No

9. Type(s) of Securities Offered (select all that apply)

X Equity X Pooled Investment Fund Interests
   Debt    Tenant-in-Common Securities
   Option, Warrant or Other Right to Acquire Another Security    Mineral Property Securities
   Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security X Other (describe)
Limited Partnership Units

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
   Yes X No

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor $15,000 USD

12. Sales Compensation

Recipient
Recipient CRD Number    None
Waveland Capital Partners LLC 40054
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Waveland Capital Partners LLC 40054
Street Address 1 Street Address 2
19800 MacArthur Blvd. Suite 650
City State/Province/Country ZIP/Postal Code
Irvine CALIFORNIA 92612
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
CALIFORNIA
ILLINOIS
MICHIGAN
NEVADA
NEW MEXICO
NEW YORK
Recipient
Recipient CRD Number    None
Berthel Fisher & Company Financial Services, Inc. 13609
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Berthel Fisher & Company Financial Services, Inc. 13609
Street Address 1 Street Address 2
701 Tama St. Building B
City State/Province/Country ZIP/Postal Code
Marion IOWA 52302
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
FLORIDA
GEORGIA
IOWA
KANSAS
MINNESOTA
MISSOURI
Recipient
Recipient CRD Number    None
First Allied Securities, Inc. 32444
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
First Allied Securities, Inc. 32444
Street Address 1 Street Address 2
655 W. Broadway 11th Floor
City State/Province/Country ZIP/Postal Code
San Diego CALIFORNIA 92101
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ALABAMA
ARIZONA
CALIFORNIA
FLORIDA
HAWAII
IOWA
LOUISIANA
SOUTH CAROLINA
SOUTH DAKOTA
TEXAS
WISCONSIN
Recipient
Recipient CRD Number    None
Independent Financial Group LLC 7717
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Independent Financial Group LLC 7717
Street Address 1 Street Address 2
12636 High Bluff Dr. Suite 100
City State/Province/Country ZIP/Postal Code
Del Mar CALIFORNIA 92130
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
ARIZONA
CALIFORNIA
Recipient
Recipient CRD Number    None
Kalos Capital Inc. 44337
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Kalos Capital Inc. 44337
Street Address 1 Street Address 2
3780 Mansell Rd. Suite 150
City State/Province/Country ZIP/Postal Code
Alpharetta GEORGIA 30022
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MARYLAND
OHIO
Recipient
Recipient CRD Number    None
VSR Financial Services Inc. 14503
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
VSR Financial Services Inc. 14503
Street Address 1 Street Address 2
8620 W. 110th Street Suite 200
City State/Province/Country ZIP/Postal Code
Overland Park KANSAS 66210
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
GEORGIA
KANSAS
NEW YORK
OKLAHOMA
PENNSYLVANIA
TEXAS
VIRGINIA
Recipient
Recipient CRD Number    None
Colorado Financial Services Corporation 104343
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Colorado Financial Services Corporation 104343
Street Address 1 Street Address 2
304 Inverness Way South Suite 355
City State/Province/Country ZIP/Postal Code
Centennial COLORADO 80112
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
COLORADO
Recipient
Recipient CRD Number    None
Centaurus Financial, Inc. 30833
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Centaurus Financial, Inc. 30833
Street Address 1 Street Address 2
2300 E. Katella Ave. Suite 200
City State/Province/Country ZIP/Postal Code
Anaheim CALIFORNIA 92806
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MINNESOTA
Recipient
Recipient CRD Number    None
Ausdal Financial Partners Inc. 7995
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
Ausdal Financial Partners Inc. 7995
Street Address 1 Street Address 2
220 N. Main St. Suite 400
City State/Province/Country ZIP/Postal Code
Davenport IOWA 52801
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
MISSOURI
Recipient
Recipient CRD Number    None
ProEquities Inc. 15708
(Associated) Broker or Dealer    None
(Associated) Broker or Dealer CRD Number    None
ProEquities Inc. 15708
Street Address 1 Street Address 2
2801 Hwy 280 South
City State/Province/Country ZIP/Postal Code
Birmingham ALABAMA 35223
State(s) of Solicitation (select all that apply)
Check “All States” or check individual States		    All States
   Foreign/non-US
GEORGIA

13. Offering and Sales Amounts

Total Offering Amount $45,000,000 USD
or    Indefinite
Total Amount Sold $6,155,578 USD
Total Remaining to be Sold $38,844,422 USD
or    Indefinite

Clarification of Response (if Necessary):

14. Investors

  
 Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.
Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:
104

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions $4,500,000 USD
X Estimate
Finders' Fees $0 USD
   Estimate

Clarification of Response (if Necessary):

7% Sales Commissions 3% Non-accountable wholesaling & marketing allowance

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$0 USD
   Estimate

Clarification of Response (if Necessary):

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:
  • Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*
  • Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of:  (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.
  • Certifying that, if the issuer is claiming a Rule 505 exemption, the issuer is not disqualified from relying on Rule 505 for one of the reasons stated in Rule 505(b)(2)(iii).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer Signature Name of Signer Title Date
Waveland Drilling Partners 2011-B, LP Vickie J. Greer Vickie J. Greer COO of Waveland Energy Partners LLC, Managing General Partne 2012-03-05

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.