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Parallel Petroleum seeks unparalleled success by exploring for and producing oil and natural gas. The company operates primarily on the Gulf Coast of South Texas, in East Texas, and in the Permian Basin of West Texas, and well as in Colorado and Utah. In 2008 it reported proved reserves of 71.8 billion cu. ft. of natural gas and 21.2 million barrels of oil. Parallel Petroleum The company sells directly on a month-to-month basis to other oil and gas companies. In 2009 global investment firm Apollo Global Management acquired Parallel Petroleum for about $483 million.
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Address: |
1004 N. Big Spring, Ste. 400
Midland, TX 79701
| | Phone: | 432-684-3727 | | Fax: | 432-684-8057 |
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| Financial
Highlights | | Fiscal Year End: | December |
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Key People
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President, CEO, and Director:
Larry C. Oldham
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COO:
Donald E. (Don) Tiffin
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VP Business Development:
Jerry W. Nevans
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