Permian Players Pioneer and Parsley Say ’I Do’

摘要

Permian Basin juggernaut Pioneer Natural Resources is buying Parsley Energy in an all-stock deal that merges two of the Permian’s most valuable players. The transaction continues a string of recent M&A deals in the top US shale oil region (OD Oct.19’20). Pioneer CEO Scott Sheffield said each merger has had a certain goal in mind, but the contiguous acreage capitalization and accretion of the Pioneer-Parsley deal makes it the most straightforward so far. "Why now? A period of low oil prices like we’ve seen causes people to rethink the future,” he said during a Tuesday afternoon call with investors.