Parallel Petroleum Corporation · Midland, TX United States ·(NASDAQ (GS): PLLL)
Company Description
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This link will open in a new window 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. To read the full description, subscribe now.
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Key Parallel Petroleum Corporation Financials
| Company Type | Public - NASDAQ (GS): PLLL Single Location |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $182.5 |
| 2008 Employees | 46 |
Parallel Petroleum Corporation Executives
17 executives listed for Parallel Petroleum Corporation's Midland, TX location.
| Title | Name & Bio | Contact |
| Chairman | Jeffrey Shrader | Network |
| President, CEO, and Director | Larry Oldham | Network |
| COO | Donald Tiffin | Network |
Competition
Competitive Landscape for Parallel Petroleum Corporation
Demand for natural gas depends partly on the health of the US economy and partly on the price of crude oil, a competitive product. The profitability of natural gas companies depends largely on the efficiency of their operations. There are large economies of scale in the production, processing, and distribution of gas, but small companies can effectively compete with large ones in exploration, where technical ability is more important than size. To read the full description, subscribe now.Top Parallel Petroleum Corporation Competitors
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