Parnon Storage was incorporated in Oklahoma and owns three-million barrels of crude oil storage situated at the Cushing terminal – the hub of West Texas Intermediate (WTI) in the U.S. In June of 2009, Parnon Storage completed construction on five tanks each capable of holding 600,000 barrels of crude oil. These tanks are leased on a long-term basis to Parnon Energy.

Quick Fact 7

Through its ownership by Farahead Holdings, Parnon has substantial capital access.