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Ticker:PLLL
Company Name: Parallel Petroleum Corporation

Business Overview from 10-K filing for Parallel Petroleum Corporation:

Parallel Petroleum Corporation and its subsidiaries are engaged in the acquisition, development and exploitation of long life oil and natural gas reserves and, to a lesser extent, the exploration for new oil and natural gas reserves. Our current producing properties are in the: • Permian Basin of west Texas and New Mexico; • Liberty County in east Texas; and • the onshore Gulf Coast area of south Texas. In addition, we are actively evaluating, leasing, drilling and preparing to drill on new projects located in the Abo gas trend of New Mexico, the Barnett Shale gas trend of the Fort Worth Basin, the Cotton Valley Reef trend of east Texas and the Uinta Basin of Utah. In 2004, we spent approximately $67.9 million on oil and gas related capital expenditures, an increase of approximately 3480ver that expended in 2003 (See Note 3 to the consolidated financial statements). This amount includes approximately $37.  g   

View the full PLLL chart at Wikinvest

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