Scandoil  

Parsley Energy to acquire certain undeveloped acreage in Midland Basin


Published Aug 27, 2014
Parsley Energy, Inc.-2

Parsley Energy, Inc. has entered into agreements in separate transactions with multiple sellers to acquire certain undeveloped acreage and producing oil and gas properties located adjacent to the Company's existing operating areas in Reagan County, TX for an approximate aggregate price of $252 million.

Acquisition Highlights

◾ 157 net horizontal drilling locations across 5,472 net acres in Reagan County ◾ Average stimulated lateral of approximately 6,900 feet per acquired drilling location ◾ Contiguous bolt-on acreage enables conversion of 30 existing short lateral drilling locations to long lateral locations ◾ 140 net vertical 80 and 40-acre drilling locations and 140 net vertical 20-acre drilling locations ◾ 98% average working interest; 23% average royalty

Tags: Parsley Energy




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml