About PARALLEL PETROLEUM
Parallel Petroleum was founded in 1979 as an independent oil and gas company. Acquisition and investment activities in energy properties are conducted, with a focus on exploration, development, and production of oil and natural gas. Operations are centered in the Permian Basin of West Texas and New Mexico. Participation has occurred in projects including the New Mexico Gas Project and Barnett Shale Gas Project.
- Headquarter Midland, United States
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Email
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
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Investors
Apollo Global Management
& 2 more
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Employee Count
Employee Count
- Acquired by
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Funding Insights of PARALLEL PETROLEUM
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PARALLEL PETROLEUM
PARALLEL PETROLEUM has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Apollo Global Management, Samsung C&T and Korea National Oil Corporation. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Buyouts are targeted through private equity investments by the firm.
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Founded Year | Domain | Location | |
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Construction, trading, fashion, and resort services are provided globally.
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Founded Year | Domain | Location | |
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Oil and gas products are supplied internationally by the corporation.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PARALLEL PETROLEUM
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - PARALLEL PETROLEUM
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Parallel Petroleum Comparisons
Competitors of PARALLEL PETROLEUM
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about PARALLEL PETROLEUM
When was PARALLEL PETROLEUM founded?
PARALLEL PETROLEUM was founded in 1979.
Where is PARALLEL PETROLEUM located?
PARALLEL PETROLEUM is headquartered in Midland, United States. It is registered at Midland, Texas, United States.
What does PARALLEL PETROLEUM do?
Parallel Petroleum was founded in 1979 as an independent oil and gas company. Acquisition and investment activities in energy properties are conducted, with a focus on exploration, development, and production of oil and natural gas. Operations are centered in the Permian Basin of West Texas and New Mexico. Participation has occurred in projects including the New Mexico Gas Project and Barnett Shale Gas Project.
Who are PARALLEL PETROLEUM's investors?
PARALLEL PETROLEUM has 3 investors. Key investors include Apollo Global Management, Samsung C&T, and Korea National Oil Corporation.