Marketed: Parallel Petroleum Central Basin Platform, Eastern Shelf Opportunity

Transaction Type
Sellers
Marketers
Basin
Permian Basin; Central Basin Platform; Permian Eastern Shelf
Announce Date
Post Date
Close Date
Room Opening Date
Estimated Price
0MM
Description

The following information is provided by Stephens Inc. All inquiries on the following listings should be directed to Stephens. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions.

Parallel Petroleum LLC has exclusively retained Stephens Inc. as its transaction adviser to market and sell the company. The company operates a roughly 14,000 net-acre position primarily in Andrews, Gaines and Scurry counties, Texas, within in the Central Basin Platform and Easter Shelf areas of the Permian Basin. Net production in January was 2,218 boe/d (98% oil) from 624 producing wells. The asset has a next 12-month net PDP operating cash flow of about $50 million.

Virtual data room opens on March 24. Bids are due in early/mid-May. For information visit stephens.com or contact Paul Shin, Stephens associate, at Paul.Shin@stephens.com.

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