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BRIEF-Parsley Energy announces Midland Basin, Delaware basin acquisitions of $607 mln
January 10, 2017 / 9:31 PM / 6 months ago

BRIEF-Parsley Energy announces Midland Basin, Delaware basin acquisitions of $607 mln

2 Min Read

Jan 10 (Reuters) - Parsley Energy Inc :

* Parsley energy announces midland basin and Delaware basin acquisitions and introduces 2017 capital program and operating guidance; expects approximately 60% annual production growth in 2017

* Parsley energy inc says expects approximately 60% annual production growth in 2017

* Parsley energy - intends to finance acquisitions through an equity offering announced concurrently with acquisitions

* Parsley energy -agreements to acquire certain undeveloped acreage and producing oil and gas properties in midland and southern delaware basins for $607 million in cash

* Parsley energy inc - oil volumes to account for 68-73% of total net production in 2017

* Sees average net production of approximately 57.0-63.0 mboe per day for 2017

* Parsley energy inc sees 2017 capital expenditures of $750-$900 million

* Parsley energy inc says has also acquired certain mineral interests in southern delaware basin for an aggregate purchase price of $43 million

* Parsley - introduced 2017 capital plans, operating guidance that contemplate 75% increase in net lateral footage, production growth of almost 60% versus 2016

* Parsley energy inc - expect production from southern delaware to increase fourfold by end of year

* Parsley energy inc- plans to complete 120-140 gross operated horizontal wells in 2017

* Sees 4q17 net production of approximately 70.0-80.0 mboe per day in 2017

* Expects "growth in oil volumes to outpace overall production growth in 2017" Source text for Eikon: Further company coverage:

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