AUSTIN, Texas, May 23, 2016 /PRNewswire/ -- Parsley
Energy, Inc. (NYSE: PE) ("Parsley Energy" or the "Company") today announced that it has commenced an underwritten public offering
of 8,000,000 shares of Class A common stock (the "Equity Offering"). The Company expects to grant the underwriters an option to
purchase up to an additional 1,200,000 shares of Class A common stock from the Company.
Concurrently with the Equity Offering, Parsley Energy, LLC and Parsley Finance Corp., the Company's 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, $200.0 million aggregate principal
amount of senior notes due 2024 (the "Concurrent Notes Offering"). The Company will 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 a portion of the net proceeds from the Concurrent Notes Offering, the Company intends to use a portion of the
net proceeds of the Equity Offering to fund the aggregate purchase price for the acquisitions of mineral interests (and
associated surface rights) and certain working interests in Pecos and Reeves Counties, Texas (the "Acquisitions"), and any remaining net proceeds
will be used to fund a portion of the Company's capital program and for general corporate purposes, including potential future
acquisitions. The Equity Offering is not conditioned on the consummation of the Acquisitions.
Credit Suisse Securities (USA) 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 SEC's 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:
Credit Suisse Securities (USA) LLC
Attn: Prospectus Department
One Madison Avenue
New York, NY 10010
Telephone: 1-800-221-1037
newyork.prospectus@credit-suisse.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 Energy's 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 Energy's
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.
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SOURCE Parsley Energy, Inc.