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