-=Jagged Peak Energy (JAG) to be acquired by Parsley Energy (PE)

Jagged Peak Energy to be acquired by Parsley Energy (PE) for roughly $7.59/share in all-stock deal valued at approximately $2.27 bln

Parsley will acquire Jagged Peak in an all-stock transaction valued at approximately $2.27 billion, including Jagged Peak's net debt of approximately $625 million as of June 30, 2019. Under the terms of the agreement, Jagged Peak shareholders will receive a fixed exchange ratio of 0.447 shares of Parsley Class A common stock for each share of Jagged Peak common stock they own. This represents $7.59 per Jagged Peak share based on Parsley's closing price on October 11, 2019, and a premium of 1.5% compared to Jagged Peak's 30-day volume weighted average price and 11.2% compared to Jagged Peak's closing price on October 11, 2019.

For the third quarter of 2019, Parsley expects net oil production of 91.2-91.7 MBo per day, translating to 5-6% quarter-over-quarter growth. During 3Q19, Parsley placed on production 35 gross operated horizontal wells with an average working interest of approximately 95% and an average completed lateral length of approximately 10,000 feet. Parsley expects to report third quarter capital expenditures of approximately $315-325 million. Third quarter development spending decreased relative to second quarter spending, driven by lower well costs, fewer net completions, and quarter-over-quarter decreases in facilities and infrastructure spending.

=Jagged Peak Energy (JAG) reported earnings on Thur 11 May 2017 (a/h)

First Quarter 2017 Highlights

• Production volumes were 9,785 Boe/d (85% oil) for the quarter, an increase of 139% compared to first quarter 2016 and an increase of 52% compared to the fourth quarter 2016
• The Company spud 12 gross operated horizontal wells and completed and put online 7 gross operated horizontal wells, with average lateral lengths of 7,403' and 7,966', respectively
• Average realized sales prices, including settlement of realized oil hedges, were $47.89 per barrel of oil, $2.48 per Mcf of natural gas and $20.61 per barrel of natural gas liquids. The total oil equivalent price, including settlement of realized oil hedges, for the quarter was $43.30 per Boe compared to the first quarter 2016 total equivalent price of $26.74 per Boe and the fourth quarter 2016 total equivalent price of $39.74 per Boe
• Lease operating expense, including workovers, ("LOE") of $1.83 per Boe was 62% less than first quarter 2016 of $4.81 per Boe, and 52% less than fourth quarter 2016 LOE of $3.80 per Boe
• Net loss for the quarter was $465.9 million, due to non-cash equity-based compensation and deferred tax expenses related to the IPO and the related corporate reorganization. Adjusted net income (a non-GAAP measure) was $10.5 million, or $0.05 per pro forma common share, after eliminating non-cash gain on commodity derivative contracts and IPO related expenses
• Adjusted EBITDAX (a non-GAAP measure) was $29.1 million, or $33.07 per Boe of production

=Jagged Peak Energy (JAG) reported earnings on Thur 23 March 2017 (a/h)

Jagged Peak Energy announces Q4 loss per share $0.01

* Jagged Peak Energy Inc. announces fourth quarter and full-year 2016 financial and operating results, year-end 2016 proved reserves and 2017 guidance

* Q4 loss per share $0.01

* Q4 earnings per share view $0.01 -- Thomson Reuters I/B/E/S

* Q4 2016 production volumes were 6,438 boe/d (83% oil), an increase of 89% compared to Q4 2015

* Sees average daily production of 17,000 to 19,000 boe/d for 2017, an increase of 203% to 238% compared to 2016

* Jagged Peak Energy Inc sees 2017 average daily production of 17,000 boe/d to 19,000 boe/d for 2017, an increase of 203% to 238% compared to 2016

* Jagged Peak Energy Inc - 2017 exit rate of 26,000 to 28,000 boe/d, an increase of 304% to 335% compared to Q4 2016

* Jagged Peak Energy Inc- Sees capital expenditures for oil and gas activities of $555 to $605 million for 2017

* Jagged Peak Energy Inc says company expects Q1 2017 production to average 9,100 boe/d to 9,300 boe/d

* Jagged Peak Energy Inc - Expects Q1 2017 production to average 9,100 boe/d to 9,300 boe/d