Overview
Parallel Petroleum seeks unparalleled success by exploring for and producing oil and natural gas. The company operates primarily in the Permian Basin of West Texas and New Mexico. Parallel Petroleum 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. Samsung acquired the business in 2012 for about $780 million. Founded
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Read More in 1979, Parallel Petroleum originally focused on acquiring relatively unproven high-risk, high-cost properties before shifting its strategy to exploiting less risky properties.
Read Less
Read More in 1979, Parallel Petroleum originally focused on acquiring relatively unproven high-risk, high-cost properties before shifting its strategy to exploiting less risky properties.
Read Less
Oil and Gas Extraction
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Support Activities for Mining
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Mining, Quarrying, and Oil and Gas Extraction
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Crude petroleum production
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Oil and gas exploration services
Contacts
Get in Touch with 2 Principals* and 12 Contacts
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Michael AduijoPresident
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