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Industry Center - Oil & Gas Drilling & Exploration
Industry Center > Oil & Gas Drilling & Exploration > Parallel Petroleum Corporation Company Profile
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Parallel Petroleum Corporation Company Profile
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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Contact Information
Address: 1004 N. Big Spring, Ste. 400
Midland, TX 79701
Financial Highlights
Fiscal Year End:December
Key People
President, CEO, and Director: Larry C. Oldham
COO: Donald E. (Don) Tiffin
VP Business Development: Jerry W. Nevans
Industry Information
Sector: Basic Materials
Industry: Oil & Gas Drilling & Exploration
Top Competitors
Abraxas Petroleum Corporation (axas)
Anadarko Petroleum Corporation (apc)
BP p.l.c. (bp)

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