Paramount Resources' paramount business is discovery and development of natural gas assets, which accounts for 75% of its production. Paramount Resources Ltd. explores for, develops, processes, markets, and transports natural gas and petroleum. Paramount Resources Ltd. has interests in more than 2.3 million gross acres, primarily in Alberta and elsewhere in Western Canada (the Northwest Territories and British Columbia) and the US (Montana an North Dakota). In 2008 Paramount Resources reported proved plus probable reserves of about 36.4 million barrels of oil equivalent. Company management, led by chairman and CEO Clayton Riddell, controls Paramount Resources.

Parker Drilling parks its oil rigs off the beaten path. Parker Drilling Company helicopter-transportable rigs allow the drilling contractor to work in otherwise inaccessible desert, mountain, and remote jungle locations. Parker Drilling Company barge rigs allow the company to drill in transition zones (such as bays and marshes). Parker Drilling owns 28 land rigs and 17 US-based barge drilling and workover rigs. Parker Drilling Company drills worldwide (in nine countries in 2008) and has worked in 54 countries since its founding. Subsidiary Quail Tools provides rental tools for oil and gas drilling and workover activities, with operations in the Gulf Coast, the Rocky Mountains, and West Texas regions. Parker Drilling also has a drilling rig construction unit.

Patterson-UTI Energy, Inc. provides onshore contract drilling services to independent oil and natural gas operators in North America. It offers pressure pumping services, including well stimulation and cementing for completion of new wells, and remedial work on existing wells to oil and natural gas operators primarily in the Appalachian Basin. Patterson-UTI Energy, Inc. provides contract drilling services principally in Texas, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi, Colorado, Utah, Wyoming, Montana, North Dakota, Pennsylvania, and West Virginia, as well as western Canada. Patterson-UTI Energy, Inc. also owns and invests in oil and natural gas assets located primarily in Texas and New Mexico. As of February 11, 2010, the company had approximately 350 marketable land-based drilling rigs. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.

Pavilion Energy Resources, Inc. (PVRE) is an emerging, energy development company focused on developing large-scale, wind power projects in the US and abroad. In 2007, Pavilion Energy Resources, Inc. acquired Energetics, a Texas-based oil and gas development company that holds an oil lease in Louisiana. In conjunction with the deal, executives from Energetics took over at Global Business Services, which then changed its name to Energetics Holdings. The next year, Pavilion Energy Resources, Inc. again changed its name and the two groups rescinded the 2007 agreement to sell the company. Pavilion Energy Resources also holds oil and gas assets in Tennessee and Kentucky.

Peak Energy Services Trust helps oil and gas firms reach peak production levels. Peak Energy Services provides drilling and well completion and production services to oil and gas customers in Western Canada and the US Midwest. Peak Energy Services Trust offers fluid handling, access matting, oil and gas equipment rentals, and wastewater treatment services. Peak Energy Services Trust has expanded rapidly through the acquisitions of gas compression equipment provider Cobalt Rentals; access matting provider Mighty Mats; wastewater treatment firm Whitefox Environmental; and oil and gas service provider BF Oilfield Services. Peak Energy reorganized into an income trust structure in 2004. In 2008 Peak Energy Services Trust acquired fluids handling firm Amwest Transport.

Pebercan has decided to can it. Pebercan explored for and developed oil and gas reserves in Cuba through a partnership with Cubapetroleo (CUPET), the Cuban national oil company. Through subsidiary Peberco Limited, the group held exploration rights to five onshore concessions covering 6,055 sq. km. Although Pebercan sold all of its production to the Cuban government, it was not subject to any restrictions on the sale of its oil. However, the operations did not prove commercially viable and in 2009 Pebercan pulled out of its contract with CUPET and moved towards liquidation. For the year ended December 31, 2008, the total production of Block 7 reached 6,938,426 barrels, for an average of 19,009 barrels per day. Pebercan's net share of Block 7 totalled 2,306,976 barrels, for an average output of 6,320 barrels per day.

Pengrowth Energy Trust was founded in 1988 and is based in Calgary, Canada. Pengrowth Energy Trust is one of North America's largest energy royalty trusts. Majority-owned subsidiary Pengrowth Corp. serves as administrator of the trust, and Pengrowth Management serves as its manager. Pengrowth Corp. acquires and manages working interests and royalty interests in oil and natural gas properties in Alberta, British Columbia, Saskatchewan, and Nova Scotia. Pengrowth Energy Trust has an average 62% working interest in 200 project area properties; daily production was expected to average between 80,000 and 82,000 barrels or oil equivalent per day in 2008. In 2007 Pengrowth Energy Trust reported proved plus probable reserves of 319.9 million barrels of oil equivalent.

Penn West Energy Trust was founded in 1979 and is headquartered in Calgary, Canada. Penn West Energy Trust (formerly Penn West Petroleum) has been pumping gas and oil from Western Canada in hopes of keeping black ink flowing from its auditor's pen. The independent exploration and production company has holdings of 3.2 million net acres of undeveloped land in Alberta, Saskatchewan, and British Columbia. In 2007 Penn West Energy Trust reported net proved and probable reserves of 644.2 million barrels of oil equivalent. Shareholders converted Penn West Energy Trust into a trust in 2005, making it one of Canada's largest oil and gas income trusts. It combined general partners Penn West, Northern Reef, Trocana, and Penn West Exploration.

Petrel Resources is incorporated in Ireland. Petrel Resources plc had signed a working agreement to explore Block 6 in Iraq's Western Desert during the reign of Saddam Hussein. Following the fall of Saddam, Petrel Resources has been seeking an agreement to develop three existing oil fields in Southern Iraq, while Petrel Resources plc renegotiates its Western Desert arrangements with the Iraqi government. Petrel Resources plc secured the first and largest contract awarded since 2003 by the Iraqi Ministry of Oil. Its core interest since 1999 has been the Subbha & Luhais project. Petrel Resources plc also has exploration interests in Jordan and Syria. Petrel Resources was founded in 1982 as Kish Developments.

Petro Andina Resources is an oil and gas exploration, development, and production company which focuses its operations in South America Petro Andina Resources Inc. main operations are located on 628,000 acres of land found in the Neuquen Basin in Argentina. Petro Andina averages more than 11,000 barrels of oil per day and boasts that it is one of the largest producers of crude oil in Argentina. In addition, through a partnership with Voyager Energy Ltd., Petro Andina Resources Inc. held a 50/50 exploration interest in two properties located in the Caribbean island country of Trinidad and Tobago. In 2009 Argentina-based rival PlusPetrol Resources acquired Petro Andina Resources.

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