Oct. 22, 2009 (PR Newswire) --

TULSA, Okla., Oct. 22 /PRNewswire/ -- Parnon Holdings, Inc. announced today the completion of its acquisition from Cimmarron Gathering, LP, a subsidiary of Copano Energy, L.L.C., of crude oil operations and assets located in Oklahoma and Texas. The purchase price was not disclosed.

Parnon said the assets will operate as Parnon Gathering, Inc. The acquisition includes an interstate crude oil gathering and transportation pipeline and associated truck stations.

Parnon Holdings, Inc. is a crude oil logistics company providing means of transportation and marketing for North America's energy industry.

Owning a group of interconnected pipelines, Parnon brings crude oil from domestic wells to the market place and utilizes its 3 million barrel terminal facility at Cushing, Oklahoma to provide flexibility in meeting the fluctuating U.S. demands.

SOURCE Parnon Holdings, Inc.