Parsley Energy to acquire assets in Midland and Delaware basinsStaff Writer | January 11, 2017
Parsley Energy has entered into agreements to acquire, in unrelated transactions, certain undeveloped acreage and producing oil and gas properties.
Acquisition $607 million in cash
The company has also acquired certain mineral interests in the Southern Delaware Basin for an aggregate purchase price of $43 million.
Parsley intends to finance these acquisitions through an equity offering announced concurrently with the acquisitions.
The company also introduced 2017 capital plans and operating guidance that contemplate a 75% increase in net lateral footage and production growth of almost 60% versus 2016, effectively pulling forward value from a growing asset base. ■