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News Breaks
August 25, 2014
16:11 EDTPEParsley Energy announces $252M acquisitions in Midland Basin
Parsley Energy announced it has entered into agreements in separate transactions with multiple sellers to acquire certain undeveloped acreage and producing oil and gas properties located adjacent to the company’s existing operating areas in Reagan County, TX for an approximate aggregate price of $252M. Highlights of the acquisitions include 157 net horizontal drilling locations across 5,472 net acres in Reagan County, average stimulated lateral of approximately 6,900 feet per acquired drilling location, contiguous bolt-on acreage enables conversion of 30 existing short lateral drilling locations to long lateral locations, and 140 net vertical 80 and 40-acre drilling locations and 140 net vertical 20-acre drilling locations. The acquisitions are scheduled to close on or before September 30. Parsley Energy intends to initiate well completions on the two uncompleted wells upon closing, with the first new wells to be spud in 1Q15. The company expects to fund the acquisitions entirely with cash-on-hand, and expects to have more than $500M of liquidity after the transactions close.
News For PE From The Last 14 Days
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October 8, 2014
10:00 EDTPEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Outperform from Underperform at CLSA... Bill Barrett (BBG) upgraded to Neutral from Underperform at Macquarie... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Calamos (CLMS) upgraded to Market Perform from Underperform at Keefe Bruyette... Calix (CALX) upgraded to Buy from Neutral at Goldman... Cimarex Energy (XEC) upgraded to Outperform from Neutral at Macquarie... Cogent (CCOI) upgraded to Outperform from Market Perform at Raymond James... Coty (COTY) upgraded to Neutral from Sell at B. Riley... Dassault Systemes (DASTY) upgraded to Equal Weight from Underweight at Barclays... EOG Resources (EOG) upgraded to Outperform from Neutral at Macquarie... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark Co.... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Goodrich Petroleum (GDP) upgraded to Neutral from Underperform at Macquarie... Greif (GEF) upgraded at Wells Fargo... PHH Corp. (PHH) upgraded to Outperform from Market Perform at Keefe Bruyette... Parsley Energy (PE) upgraded to Outperform from Neutral at Macquarie... Rent-A-Center (RCII) upgraded to Buy from Neutral at Northcoast... Royal Gold (RGLD) upgraded to Overweight from Underweight at HSBC... Rush Enterprises (RUSHA) upgraded to Strong Buy at Raymond James... Sanchez Energy (SN) upgraded to Outperform from Neutral at Macquarie... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie... TC PipeLines (TCP) upgraded to Neutral from Underweight at JPMorgan... Tesco (TSCDY) upgraded to Neutral from Underweight at HSBC... Vocera (VCRA) upgraded to Outperform at FBR Capital.
07:29 EDTPEParsley Energy upgraded to Outperform from Neutral at Macquarie
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