Parsley Energy Announces Public Offering of Class A Common Stock
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April 5, 2016 9:16 AM EDT
Stifel reiterated a Buy rating on Parsley Energy (NYSE: PE), and raised the price target to $25.00 (from $24.00), following the company's announced agreements to acquire 22,908 net acres in the Midland and Southern Delaware Basins.
Analyst Daniel Guffey commented, "After the close, PE announced it has... More
April 5, 2016 6:36 AM EDT
Parsley Energy, Inc. (NYSE: PE) announced that it has priced an underwritten, upsized public offering of 18,250,000 shares of Class A common stock for total gross proceeds (before underwriters fees and estimated expenses) of approximately $390.6 million. The 18,250,000 share offering represents a 2,250,000 share upsize to the originally proposed 16,000,000 share offering. The underwriters have an option for 30 days to purchase up to an additional 2,737,500 shares of... More
April 4, 2016 4:10 PM EDT
Parsley Energy, Inc. (NYSE: PE) announced that it has entered into agreements to acquire certain undeveloped acreage and producing oil and gas properties located adjacent to the Companys existing operating areas in the Southern Delaware and Midland Basins for an aggregate purchase price of $359 million in cash (subject to customary purchase price adjustments)
Acquisition Highlights
22,908 net surface acresEstimated current net production of approximately 2,300 Boe per day from nine producing horizontal wells and 97 vertical wellsAcquired assets...
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