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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.