Imperial Capital Raises Price Target on Parsley Energy (PE) to $42
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Parsley Energy (PE) Prices Larger 7.25M Stock Offering for Proceeds of ~$243M
August 16, 2016 5:52 AM EDTParsley Energy, Inc. (NYSE: PE) announced that it has priced an underwritten, upsized public offering of 7,250,000 shares of Class A common stock for total gross proceeds (before underwriters' fees and estimated expenses) of approximately $243.2 million (the "Equity Offering"). The 7,250,000 million share offering represents a 250,000 share upsize to the originally proposed 7,000,000 share offering. The underwriters have an option for 30 days to purchase up to an additional 1,087,500 shares of Class A common stock from the Company. The Equity Offering is expected to close on August 19, 2016, subject to customary closing... More
Parsley Energy (PE) Announces $400M Midland Basin Acquisition
August 15, 2016 4:06 PM EDTParsley Energy, Inc. (NYSE: PE) announced that it has entered into an agreement to acquire certain undeveloped acreage and producing oil and gas properties in Glasscock County, Texas, as well as associated mineral and overriding royalty interests, for an aggregate purchase price of $400 million in cash, subject to customary closing conditions. Parsley intends to finance this acquisition through debt and equity issuances announced concurrently with the acquisition.
Acquisition Highlights
11,672 gross (9,140 net) leasehold acres near existing Parsley leasehold in Glasscock County, TexasMineral and overriding royalty interests boost net revenue interest by... More