Parsley Energy, Inc.’s Acquisition Of Jagged Peak Energy, Inc.

Vinson & Elkins advised Jagged Peak Energy Inc. Kirkland & Ellis advised Parsley Energy, Inc. on the transaction.

Vinson & Elkins advised Jagged Peak Energy Inc. (“Jagged Peak”) in a definitive merger agreement with Parsley Energy, Inc. (“Parsley”) under which Parsley will acquire Jagged Peak in an all-stock transaction valued at approximately $2.27 billion, including Jagged Peak’s net debt of approximately $625 million as of June 30, 2019.

Jagged Peak is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the southern Delaware Basin, a sub-basin of the Permian Basin of West Texas.

The V&E corporate team was led by partner Steve Gill (Picture) with assistance from associates Alex Robertson, Mariam Boxwala, Madison Guidry, Elizabeth Janicki and Sydney Verner. Also advising were partner Shane Tucker, counsel Dario Mendoza and associate Carolyn Exnicios; partner John Lynch; partner Sean Becker and associate Peter Goetschel; senior associate Matt Dobbins and associate Laura Ashdown; partner Hill Wellford; senior associate Joclynn Townsend and associate Alicia Vesely; partner Guy Gribov and associate Alexander Kamel; and partners Michael Holmes and Craig Zieminski.

The Kirkland team was led by transactional partners Sean Wheeler, Doug Bacon and Kim Hicks and associates Jennifer Singh, Will Mabry and Camille Walker; capital markets partners Julian Seiguer and Michael Rigdon; transactional partner Anthony Speier; executive compensation partner Scott Price and associate Laura Gallo; environmental transactions partner Paul Tanaka and associate Jim Dolphin; and tax partner David Wheat.

Involved fees earner: Douglas Bacon – Kirkland & Ellis; James Dolphin – Kirkland & Ellis; Laura Gallo – Kirkland & Ellis; Kim Hicks – Kirkland & Ellis; Will Mabry – Kirkland & Ellis; Scott Price – Kirkland & Ellis; Michael Rigdon – Kirkland & Ellis; Julian Seiguer – Kirkland & Ellis; Jennifer Singh – Kirkland & Ellis; Anthony Speier – Kirkland & Ellis; Paul Tanaka – Kirkland & Ellis; Camille Walker – Kirkland & Ellis; David Wheat – Kirkland & Ellis; Sean Wheeler – Kirkland & Ellis; Sean Becker – Vinson & Elkins LLP; Mariam Boxwala – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP; Carolyn Exnicios – Vinson & Elkins LLP; Stephen Gill – Vinson & Elkins LLP; Guy Gribov – Vinson & Elkins LLP; Michael Holmes – Vinson & Elkins LLP; Alexander Kamel – Vinson & Elkins LLP; John Lynch – Vinson & Elkins LLP; Dario Mendoza – Vinson & Elkins LLP; Alex Robertson – Vinson & Elkins LLP; Joclynn Townsend – Vinson & Elkins LLP; Alicia Vesely – Vinson & Elkins LLP; Hill Wellford – Vinson & Elkins LLP; Craig Zieminski – Vinson & Elkins LLP;

Law Firms: Kirkland & Ellis; Vinson & Elkins LLP;

Clients: Jagged Peak Energy; Parsley Energy, Inc.;

Author: Ambrogio Visconti