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Home > Company Index > Energy > Oil & Gas Exploration & Production > Parallel Petroleum Corporation

Parallel Petroleum Corporation
Nasdaq: PLLL
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 PROFILE
Parallel Petroleum seeks unparalleled success by exploring, usually through third parties, for oil and natural gas and then developing and producing the minerals. The company has estimated proved reserves of 15.7 billion cu. ft. of natural gas and 1 million barrels of oil. Through its 31% ownership of First Permian, the company has additional proved reserves of 1.8 billion cu. ft. of natural gas and 14.7 million barrels of oil. It operates primarily on the Gulf Coast of South Texas and also in the Permian Basin of West Texas. Parallel Petroleum sells directly on a month-to-month basis to other oil and gas companies.

 COMPETITION
Anadarko Petroleum Corporation (APC)
BP p.l.c. (BP)
Royal Dutch/Shell Group (dossier)

 STOCK ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 17.10
1-Yr. Sales Growth: 90.0%
Employees: 7
Revenue per employee: $2,442,857.14

 KEY PEOPLE
• Thomas R. Cambridge
    CEO
• Larry C. Oldham
    CFO

 CONTACT INFO
1 Marienfeld Place, 110 N. Marienfeld St., Ste. 465
Midland, TX 79701
US
Phone: 915-684-3727
Fax: 915-684-3905
Online: Web Site

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