JAG - Parsley Energy And Jagged Peak Energy: A Fine Marriage
As can be expected in such a pessimistic investment environment, companies in the oil and gas space are working hard to create value, even if that means engaging in M&A activity in the process. By combining, the hope is to create larger, more efficient, and more profitable entities that can weather tough times while appealing to investors who have, more or less, become disenchanted by the industry. The latest such case involves the decision of Parsley Energy (PE) to merger with/acquire smaller rival Jagged Peak Energy (JAG) in an all-stock transaction.