11302020Mon
Last updateWed, 25 Nov 2020 4pm

End-User News

Pioneer Natural Resources Acquiring Parsley Energy for $4.5B

Pioneer Natural Resources and Parsley Energy have entered into a definitive agreement under which Pioneer will acquire all of the outstanding shares of Parsley in an all-stock transaction valued at approximately $4.5 billion as of October 19, 2020. The total value for the transaction, inclusive of Parsley debt assumed by Pioneer, is approximately $7.6 billion.

“This transaction creates an unmatched independent energy company by combining two complementary and premier Permian assets, further strengthening Pioneer’s leadership position within the upstream energy sector. Parsley’s high-quality portfolio in both the Midland and Delaware Basins, when added to Pioneer’s peer-leading asset base, will transform the investing landscape by creating a company of unique scale and quality that results in tangible and durable value for investors,” said Scott D. Sheffield, Pioneer’s President and CEO.

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