John Deede | Shale Plays Media Google+
Houston-based Par Petroleum Corporation will begin trading common stock on the New York Stock Exchange today under the ticker symbol PARR. Par owns and operates in a variety of energy markets in the United States and intends the sale of stock to provide the capital needed for potential acquisitions and additional liquidity.
CEO Will Monteleone said, “Listing on the NYSE MKT is a milestone for Par Petroleum. I believe that this will heighten our profile in the capital markets and will ultimately allow for a broader shareholder base and increased daily trading liquidity.”
Par Petroleum owns an oil refinery in Hawaii that provides a large share of the energy demanded by the islands. The company also owns Piceance Energy, LLC in Colorado, and Texadian Energy, a company specializing in getting crude oil from producer to market.
PARR began trading at $20.30 per share Tuesday and as of mid-day was down about 3.2% at $19.70