A leading provider of business research for the Oil & Gas Industry
  • Parsley Acquires Midland Basin And Delaware Basin AssetsData analysis
    Global Deals

    Parsley Energy has entered into agreements to acquire, in unrelated transactions, certain undeveloped acreage and producing oil and gas properties located adjacent to the company's existing operating areas in the Midland and Southern Delaware Basins for an aggregate purchase price of $607 million in cash. Parsley Energy has also acquired certain mineral interests in the Southern Delaware Basin for an aggregate purchase price of $43 million.

    Acquisition Highlights:

    • Approximately 23,000 net leasehold acres
    • Estimated current net production of approximately 2.3 MBOE/d
    • Approximately 340 net horizontal drilling locations in primary target intervals (Wolfcamp A, Wolfcamp B, Lower Spraberry, and Bone Spring formations)
    • Approximately 660 net royalty acres

    Midland Basin acquired assets:

    • Approximately 25,200 gross/17,800 net leasehold acres in Upton, Reagan, Glasscock, and Midland Counties, TX for approximately $402 million
    • Estimated current net production of approximately 1.2 MBOE/d
    • Approximately 230 net horizontal drilling locations in the Wolfcamp A, Wolfcamp B, and Lower Spraberry target intervals, with additional locations in less developed intervals and potential upside from tighter spacing and additional flow units in primary target intervals
    • Those transactions not yet closed are scheduled to close on or before 27-Feb-2017

    Southern Delaware Basin acquired assets:

    • Approximately 6,600 gross/5,200 net acres in Reeves, Pecos, and Ward Counties, TX for approximately $205 million
    • Estimated current net production of approximately 1.1 MBOE/d
    • Approximately 110 net horizontal drilling locations in the upper Wolfcamp and 2nd and 3rd Bone Spring target intervals, with potential upside from tighter spacing and additional target intervals
    • Mineral rights translating to a 17% average royalty interest in approximately 3,900 net acres, or approximately 660 net royalty acres, in Reeves and Pecos Counties, TX for approximately $43 million
    • Those transactions not yet closed are scheduled to close on or before 31-Jan-2017

    View Parsley press release

Get instant access to our databases

For subscriptions and other enquiries write to us at sales@1derrick.com

else leave your details and we will get in touch with you.


Warning: mysql_num_fields() expects parameter 1 to be resource, boolean given in /home/derrick1/public_html/core/db.class.inc.php on line 35
INSERT INTO `mx_ip_report` (``) VALUES ('')
INSERT INTO `mx_ip_report` (``) VALUES ('')
Table './derrick1_1derrick_2_4/mx_ip_report' is marked as crashed and should be repaired