Parsley Energy Inc. (NYSE: PE) has launched an initial public offering of 43,900,000 shares of its Class A common stock at an anticipated initial offering price between $15.00 and $18.00 per share.
Parsley is offering 36,363,636 shares of its Class A common stock and the selling shareholders named in the registration statement are offering 7,536,364 shares of Parsley’s Class A common stock. In addition, Parsley intends to grant the underwriters a 30-day option to purchase up to an additional 6,585,000 shares of its Class A common stock. The Class A common stock has been authorized for listing on the New York Stock Exchange under the ticker symbol “PE,” subject to official notice of issuance.
Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. JP Morgan Securities LLC and Wells Fargo Securities LLC are also acting as book-running managers for the offering. Morgan Stanley & Co. LLC, Raymond James & Associates Inc., Tudor, Pickering, Holt & Co. Securities Inc., RBC Capital Markets LLC, Global Hunter Securities LLC, Macquarie Capital (USA) Inc., Scotia Capital (USA) Inc., Simmons & Co. International, and Stephens Inc. are acting as co-managers for the offering.
Parsley is an independent exploration and production company focused on the acquisition, development, and exploitation of oil and natural gas reserves in the Permian Basin.