-=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.

-=Parsley Energy (PE) reported earnings on Tue 7 Aug 2018 (a/h)

Parsley Energy reports EPS in-line, beats on revs; co raises production guidance 

• Reports Q2 (Jun) earnings of $0.39 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.39; revenues rose 118.9% year/year to $467.8 mln vs the $432.27 mln Capital IQ Consensus.
• Co raises 2018 oil production guidance to 68.0-70.5 Mbo/d, up from 65-70 Mbo/d
• Co also raises annual net production to 106-111 Mboe/d, up from 98-108