Exploration & Production
Parallel Energy Trust Announces Change of Operatorship of the West Panhandle Field
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Parallel Energy Trust (“Parallel” or the “Trust”) today announced that Parallel Energy LP, the US operating subsidiary of the Trust, has assumed operatorship of the West Panhandle Field. The changeover in operator from Bravo Natural Gas LLC (“Bravo”) was scheduled as part of Parallel’s purchase of the remaining 41% interest in the West Panhandle Field which closed on April 12, 2012. The US operating team is now headed by Tony Swindell, previously VP Operations of Bravo and now VP Mid-Continent for Parallel, plus a majority of the previous operating team from Bravo. With the takeover of operatorship, Parallel now has 12 employees in the Tulsa corporate office and 33 employees in the field.
Parallel continues to execute its plan to stabilize and increase production levels. Operational…
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