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EX-99.3 - EX-99.3 - Pioneer PE Holding LLC | d241465dex993.htm |
EX-99.2 - EX-99.2 - Pioneer PE Holding LLC | d241465dex992.htm |
8-K - 8-K - Pioneer PE Holding LLC | d241465d8k.htm |
Exhibit 99.1
NEWS RELEASE
Parsley Energy Announces Public Offering
of Class A Common Stock
AUSTIN, Texas, August 15, 2016Parsley Energy, Inc. (NYSE: PE) (Parsley Energy or the Company) today announced that it has commenced an underwritten public offering of 7,000,000 shares of Class A common stock (the Equity Offering). The Company expects to grant the underwriters an option to purchase up to an additional 1,050,000 shares of Class A common stock from the Company.
Concurrently with the Equity Offering, Parsley Energy, LLC and Parsley Finance Corp., the Companys consolidated subsidiaries, intend to offer to qualified institutional buyers and non-U.S. persons outside of the U.S., in an offering exempt from registration under the Securities Act of 1933, as amended, an additional $200.0 million aggregate principal amount of their 6.250% senior notes due 2024 (the Concurrent Notes Offering). The Company does not guarantee the senior notes. The Equity Offering is not conditioned on the consummation of the Concurrent Notes Offering, and the Concurrent Notes Offering is not conditioned on the consummation of the Equity Offering.
Together with the net proceeds from the Concurrent Notes Offering, the Company intends to use the net proceeds of the Equity Offering to fund the aggregate purchase price for the acquisition of oil and gas interests in Glasscock County, Texas (the Acquisition), and any remaining net proceeds will be used to fund a portion of the Companys capital program and for general corporate purposes, including potential future acquisitions. The Equity Offering is not conditioned on the consummation of the Acquisition.
J.P. Morgan Securities LLC is acting as sole lead bookrunner for the Equity Offering.
The Equity Offering is being made pursuant to an effective shelf registration statement, which has been filed with the Securities and Exchange Commission (the SEC) and became effective June 5, 2015. The Equity Offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the SECs website at www.sec.gov. Alternatively, the sole lead bookrunner will arrange to send you the preliminary prospectus supplement and related base prospectus if you request them by contacting:
J.P. Morgan
via Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York, 11717
Telephone: (866) 803-9204
E-mail: prospectus-eq_fi@jpmchase.com
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Parsley Energy, Inc.
Parsley Energy, Inc. is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin in West Texas.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Parsley Energys expectations or beliefs concerning future events, and it is possible that the results described in this news release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Parsley Energys control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Parsley Energy does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Parsley Energy to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements found in our filings with the SEC, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2015 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The risk factors and other factors noted in our SEC filings could cause our actual results to differ materially from those contained in any forward-looking statement.
Contact Information
Brad Smith, Ph.D., CFA
Parsley Energy, Inc.
Vice President, Corporate Strategy and Investor Relations
ir@parsleyenergy.com
(512) 505-5199
Source: Parsley Energy, Inc.