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
- Email••••••••
- Phone•••• ••••
- Website parallel-petro.com
- Social LinkedIn Facebook
- Acquired by Samsung C&T (Nov 2011)
- InvestorsApollo Global Management
& 2 more
- Acquired by
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Buyouts are targeted through private equity investments by the firm. | 1990 | apollo.com | New York, United States | |
Construction, trading, fashion, and resort services are provided globally. | 1938 | samsungcnt.com | Seoul, South Korea | |
Oil and gas products are supplied internationally by the corporation. | 1999 | knoc.co.kr | Ulsan, South Korea |
Investor details for PARALLEL PETROLEUM
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of PARALLEL PETROLEUM
3 dated milestones of PARALLEL PETROLEUM across 32 years, from founding to its latest funding, stage changes and deals.
- Founded PARALLEL PETROLEUM is founded.
- Exit Acquired by Apollo Global Management.
- Exit Acquired by Samsung C&T.
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Frequently Asked Questions about PARALLEL PETROLEUM
PARALLEL PETROLEUM was founded in 1979.
PARALLEL PETROLEUM is headquartered in Midland, United States. It is registered at Midland, Texas, United States.
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.
PARALLEL PETROLEUM has 3 investors. Key investors include Apollo Global Management, Samsung C&T, and Korea National Oil Corporation.
Yes. PARALLEL PETROLEUM was acquired by Samsung C&T in November 2011.