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Covington Represents Financial Advisor in Parsley Energy Acquisition of Jagged Peak for $2.27B

October 14, 2019

NEW YORKCovington represented financial advisor Tudor, Pickering, Holt & Co. in Parsley Energy, Inc.'s acquisition of Jagged Peak Energy. Parsley and Jagged Peak entered into a definitive merger agreement under which Parsley will acquire Jagged Peak in an all-stock transaction valued at approximately $2.27 billion, including Jagged Peak's net debt of approximately $625 million.

Parsley Energy is an independent oil and natural gas company focused on the acquisition, development, exploration, and production of unconventional oil and natural gas properties in the Permian Basin.

Jagged Peak 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.

The Covington corporate team consisted of J. D. Weinberg and Todd Mortensen.

 

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