JAG - Parsley Energy: A Bit About The Merger
Parsley Energy (PE), the Permian Basin focused oil producer, has recently agreed to buy smaller shale driller Jagged Peak Energy (JAG) in all-stock deal valued at $2.27 billion. The merger will give Parsley Energy the scale advantage as it significantly expands its footprint in the Permian Basin while realizing merger-related synergies and cost savings. The deal, however, clouds Parsley Energy's short-term outlook for free cash flows. But I think its long-term prospects are still looking good.
Image: Parsley Energy
Parsley Energy and Jagged Peak Energy have entered into an agreement under