Austin, Texas-based Parsley Energy announced it’s made a deal to buy $607 million in properties in the Midland and southern Delaware basins in West Texas. Some of the transactions are still pending.
The company also acquired some mineral interests in the Southern Delaware Basins for $43 million. Parsley said it is financing the acquisitions through an equity offering.
It’s purchasing more than 25,000 gross acres in Upton, Reagan, Glasscock and Midland Counties in Texas with a price of $402 million. It includes nearly 230 horizontal drilling locations in those counties which are part of the Midland Basin.
In the Southern Delaware Basin, Parsley is paying $205 million for 6,600 acres in Reeves, Pecos, and Ward Counties where thee is a net production of nearly 1,100 Boe per day.