Parsley Energy, an oil and natural gas company, completed the acquisition of a 77% stake in Jagged Peak Energy, an independent oil and natural gas company, for $2.27bn including Jagged Peak's net debt of $625m. "This collective expediency to closing allows our team to hit the ground running on these complementary, high margin assets and start capturing tangible synergies that will enhance value for our combined shareholder base. Execution will continue to speak louder than words, and our integration efforts will retain the sense of urgency and accountability that defined our successful 2019 action plan. Ultimately, we expect that the culmination of this hard work will be a more capital efficient enterprise with more free cash flow. Finally, I am excited to formally welcome Wil and Jim to our Board. I believe the Company and our shareholders will be well served by their sound financial acumen, considerable experience, and extensive network of industry contacts," Matt Gallagher, Parsley's President and CEO.