Parallel Petroleum Corp.
1004 N Big Spring
Suite 400
Midland,
TX 79701
United States - Map
Phone: 432-684-3727
Fax: 432-684-8057
Web Site: http://www.plll.com
| Parallel Petroleum Corporation engages in the acquisition, development, and exploration of oil and natural gas reserves in Texas and New Mexico. Its operations are primarily located in the Permian Basin of west Texas and New Mexico, the Fort Worth Basin of north Texas, and the onshore Gulf Coast area of south Texas. The companys principal natural gas projects include the Barnett Shale gas project in Tarrant County, Texas; and Wolfcamp gas project in Eddy and Chavez counties, New Mexico. It also owns interests in producing properties in the Permian Basin of west Texas, which include Diamond M Canyon Reef Unit & Shallow Leases in Scurry County, Texas; the Carm-Ann San Andres Field and Harris San Andres Field in Andrews and Gaines Counties in Texas; and the Fullerton San Andres Field in Andrews County, Texas. In addition, Parallel Petroleum focuses on the Yegua/Frio/Wilcox and Cook Mountain gas projects located in Jackson, Wharton, and Liberty counties, Texas; East Texas Cotton Valley Reef Gas Project in Leon, Freestone, and Anderson Counties, Texas; and Utah/Colorado conventional oil & gas and heavy oil sands projects in Uinta Basin. As of December 31, 2008, the company had total proved reserves of approximately 21.2 MMBbls of oil and approximately 71.8 Bcf natural gas. Parallel Petroleum was founded in 1979 and is based in Midland, Texas. As of November 25, 2009, Parallel Petroleum Corp. was taken private. |
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| Key Statistics |
| |
| | Pay | Exercised | Mr. Larry C. Oldham , 55
Founder, Chief Exec. Officer, Pres, Treasurer, Independent Director and Member of Hedging & Acquisitions Committee |
$
499.00K |
$
0 | Mr. Steven D. Foster , 53
Chief Financial Officer and Principal Accounting Officer |
$
306.00K |
$
0 | Mr. Donald E. Tiffin , 51
Chief Operating Officer |
$
419.00K |
$
0 | Mr. Eric A. Bayley , 60
VP of Corp. Engineering |
$
248.00K |
$
376.00K | Mr. John S. Rutherford , 48
VP of Land & Admin. |
$
248.00K |
$
0 |
|
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|
Dollar amounts are as of
31-Dec-08
and compensation values are for the last fiscal
year ending on that date. "Pay" is salary, bonuses, etc. "Exercised" is the value of
options exercised during the fiscal year.
| |
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