M&A Deal Summary

Parsley Energy Acquires Jagged Peak Energy

On October 14, 2019, Parsley Energy acquired energy services and equipment company Jagged Peak Energy for 625M USD

Acquisition Highlights
  • This is Parsley Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Parsley Energy’s largest (disclosed) transaction.
  • This is Parsley Energy’s 2nd transaction in the United States.
  • This is Parsley Energy’s 1st transaction in Colorado.

M&A Deal Summary

Date 2019-10-14
Target Jagged Peak Energy
Sector Energy Services and Equipment
Buyer(s) Parsley Energy
Deal Type Add-on Acquisition
Deal Value 625M USD
Advisor(s) Citigroup Investment Banking
RBC Capital Markets (Financial)
Vinson & Elkins (Legal)

Target

Jagged Peak Energy

Denver, Colorado, United States
Jagged Peak Energy, Inc. is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin, a sub-basin of the Permian Basin of West Texas and one of the most prolific unconventional resource plays in North America. Jagged Peak Energy was founded in 2013 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Parsley Energy

Austin, Texas, United States

Category Company
Founded 2008
Sector Oil/Gas Exploration
Employees496
Revenue 2.0B USD (2019)
DESCRIPTION

Parsley Energy, Inc. is an independent oil and natural gas company with operations in the Permian Basin, where the company develops unconventional oil and natural gas reserves. Parsley Energy was founded in 2008 and is based in Austin, Texas.


DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 Acreage in the Southern Delaware Basin

United States

Acreage in the Southern Delaware Basin comprises oil and gas exploration property covering an area of 6400 acres.

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