Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Reserves | Production Rates | Drilling Program
Parallel's Drilling Postponed, Focus on Cost Reduction
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Parallel Energy Trust has announced its financial and operating results for the three and twelve months ended December 31, 2014, and provides a summary of its 2014 year-end reserve report.
President's Message – Rick Alexander, President & CEO"In 2014, we marked the second consecutive year in which our production results were in line with our expectations. This is a notable achievement considering that our production was negatively impacted by winter weather conditions in both years. We have experienced similar weather-related production challenges in the first two months of 2015; however, our operating team has done an exceptional job of mitigating downtime and subsequently restoring our production levels in a timely manner.
Our 2014 drilling program yielded the best initial production…
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