Texas Pacific Land Trust Appoints Sameer Parasnis as Executive Vice President and Chief Commercial Officer
August 09 2019 - 08:30AM
Business Wire
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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Abernathy MacGregor Sydney Isaacs / Jeremy Jacobs
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