Texas Pacific Land Trust (NYSE: TPL) (“the Trust” or “TPL”) today announced the appointment of Sameer Parasnis to the position of Executive Vice President and Chief Commercial Officer, effective immediately. Mr. Parasnis will report to TPL Chief Executive Officer Ty Glover, and will work closely with both Glover and Chief Financial Officer Robert Packer.
Mr. Parasnis has over 20 years of financial experience, nearly 17 of which have been in banking. He has a wealth of experience advising companies in the oil and gas industry on equity capital markets, debt capital markets and strategic M&A, with a considerable focus on the Permian Basin. Prior to joining TPL, Mr. Parasnis served as a Managing Director of Stifel Financial Corporation’s oil and gas team in Houston and was instrumental in helping the firm develop its upstream investment banking advisory franchise. Prior to his time at Stifel, Mr. Parasnis spent most of his investment banking career at Credit Suisse, where he worked on several notable deals in the oil and gas industry, including initial public offerings, debt high yield offerings and spinoffs. He also previously worked at GMP Securities and Citigroup, Inc. Prior to investment banking, Mr. Parasnis began his career as a chemical engineer at Reliance Industries Ltd.
“We are excited to welcome Sameer to TPL’s senior management team,” Trustee David Barry commented. “His prior banking experience, industry relationships and wealth of energy capital markets knowledge will prove invaluable as we continue to focus on delivering value to shareholders.”
“Sameer has been an advisor to the Trust since 2017, and we are confident that his experience with both TPL’s business and our senior management team will allow a smooth transition into this new role,” Barry added.
Mr. Parasnis is a graduate of the Institute of Chemical Technology in Mumbai, India. He also earned a Master of Business Administration from Southern Methodist University and a Masters in Finance from the London Business School.
About Texas Pacific Land Trust
Texas Pacific Land Trust is one of the largest landowners in the State of Texas with approximately 900,000 acres of land in West Texas. Texas Pacific was organized under a Declaration of Trust to receive and hold title to extensive tracts of land in the State of Texas, previously the property of the Texas and Pacific Railway Company, and to issue transferable Certificates of Proprietary Interest pro rata to the holders of certain debt securities of the Texas and Pacific Railway Company. Texas Pacific’s trustees are empowered under the Declaration of Trust to manage the lands with all the powers of an absolute owner.
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