Merger-And-Acquisition Deals Are Picking Up

May 2017
D Magazine

PCORE Exploration & Production LLC Asset Sale to Parsley Energy Inc.

Parties: Dallas-based PCORE Exploration & Production, an oil and natural gas company; Austin-based Parsley Energy, also an oil and natural gas company

When: Announced Dec. 9, 2015, closed Jan. 8, 2016

Price tag: $148.5 million

Toughest challenge: “The deal was negotiated near $50 oil and closed at $30 oil. The deal closed without the price changing because of mutual trust and quality assets.”  —Mark Hiduke, PCORE Co-founder