Parwest Land Exploration, Inc. was founded in 1994 by Peter J. Ferraro when the company acquired operations and working interests in numerous oil and gas wells in Oklahoma. Prior to forming Parwest, Mr. Ferraro and his family had participated for over 30 years as working interest owners. Since 1994, Parwest has been the operator for wellsdrilled in Kansas, Texas and Oklahoma.

Morrow sand gas wells, 8,500 ft deep in northwest Oklahoma are on over 2,000 acres and were Parwest's primary interest until the assets of Silberman Oil Company were acquired in 2010. This acquisition, mostly south of Stillwater, Oklahoma, was in the prolific Lost Creek Oil Field and consisted of 12 wells on 1,000 acres. This field produces primarily from the Lower Skinner and Bartlesville sand zones about 4,500 ft deep. Parwest has drilled 3 wells and conducted workover operations on 4 others.

In 2014, Parwest acquired the Castaneda Oil Field in NW Oklahoma from Lorentz Oil and Gas Company. The field was discovered by Cities Service and has been in continual production since the 1980s. Production is from 12 wells completed in shallow sands less than 3,000, ft deep.

Current (2017) monthly production from all areas is approximately 2,100 barrels/of oil /month and 5,000 mcf gas. Three wells in the Stillwater, OK area are scheduled for workovers during 2017. Parwest also operates 4 disposal / injection wells in Oklahoma, all of which are in Oklahoma Corporation Commission approved zones.