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Parallel Petroleum is an independent energy company headquartered in Midland, Texas, engaged in the exploration, development and production of long-lived oil and natural gas properties. Parallel utilizes 3-D seismic technology, advanced drilling and completion techniques, and enhanced oil recovery processes. The Company's current operations
are primarily concentrated in the Permian Basin of West Texas and New Mexico, the largest onshore oil and natural gas basin in the United States.
Parallel Petroleum LLC has been a well-respected oil and gas exploration and production company for more than 35 years and has been privately owned by Samsung C&T Corp, a trading arm of Samsung Group, Korean National Oil Corp and other Korean investment partners since December 2011.
