JAG - The Bottom Fishing Club: Parsley Energy
Parsley Energy (PE) merged with Jagged Peak Energy (JAG) in January. The organization is a petroleum exploration and production company with assets primarily in Texas. Original Parsley Energy investors own about 77% of the combined enterprise, with Jagged Peak holders getting 23%. Basically, Parsley acquired one of its neighbors with complementary acreage, high net margins, and the potential for tens of millions in synergies. The deal was structured as an all-stock transaction at a slight premium to Jagged’s market pricing.
Image Source: Company website
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