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Parsely pays $252M for Reagan County parcel Parsely pays $252M for Reagan County parcel https://www.recenter.tamu.edu/news/newstalk-texas/?Item=32052014-09-02T09:53:00Z2014-09-02T00:00:00Z

REAGAN COUNTY - Parsely Energy Inc. has purchased more than 5,472 acres, including 157 horizontal drilling locations, adjacent to the company’s existing operating areas for $252 million.

“We are thrilled to bolt on premiere acreage that allows for longer laterals in our primary horizontal development area, where we and others are seeing very promising drilling results,” said Bryan Sheffield, CEO of Parsley Energy.

“With facilities in place, a number of permits already secured, and our existing operations in Reagan County, we expect to realize substantial value from these assets right away.”

Since Parsely's initial public offering in May 2014, it has added more than 16,000 net acres and 456 horizontal drilling locations. In all, the company owns more than 97,371 surface acres in the Midland basin and 121,211 surface acres in the Permian basin.

BusinessWire
San Angelo
Land
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