Post Tagged with: "Jagged Peak"

Photo: Parsley Energy

Parsley Energy to buy Jagged Peak for $1.65 billion in Permian merger

Source: Houston Chronicle Austin-based Parsley Energy said it will pay $1.65 billion to acquire Denver’s Jagged Peak Energy in a combination of Permian Basin players. The all-stock deal turns Parsley into a buyer at a time when energy analysts believed it would be more likely instead for Parsley to be scooped up by a Big Oil major looking to further expand in the Permian. Jagged Peak was struggling financially amid weaker oil prices and a Permian environment increasingly dominated by the biggest firms. Parsley, which has a larger presence in the Permian’s more mature Midland Basin, will expand greatly in the Permian’s booming western lobe, the Delaware Basin, through the deal. “We now have a premier Delaware Basin business that rivals our foundational Midland Basin business,” said Parsley Chief Executive Matt Gallagher.

Jagged Peak Energy Adds Board Member

Jagged Peak Energy Adds Board Member

Jagged Peak Energy Inc. Announces The Addition Of Janeen S. Judah To Its Board Of Directors

Source: QEP Resources

Jagged Peak Supporting 5 Rigs, 1 Completion Crew in Southern Delaware

Eyes 15% cost savings in 2019 By Richard Rostad, analyst, Oil & Gas 360 Jagged Peak Energy (ticker: JAG) announced fourth quarter results and reserves today, showing net income of $186.3 million, or $0.87 per share. Most of this profit is due to derivatives, and if these and other special charges are excluded Jagged Peak earned $28.2 million in Q4. Jagged Peak produced 38.4 MBOEPD in Q4, above the high end of guidance and up 60% year-over-year. The company’s 34.2 MBOEPD over the full year also beat guidance and represents 102% growth. Jagged Peak now holds 118.9 MMBOE in reserves, up 44% from its 82.4 MMBOEPD in 2017. Overall, the company replaced 393% of production, with an organic F&D cost of $15.55 per BOE. This cost is… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Jagged Peak Energy to Present at The Oil and Gas Conference

Jagged Peak Energy to Present at The Oil and Gas Conference

Jagged Peak Energy, Inc. (NYSE: JAG) Company Overview Jagged Peak is an independent pure play 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. Q1 2018 production growth YOY: 182% ~10% improvement in average footage drilled per day from 2017 Owns and operates its own water infrastructure Summary Q1-2018 Revenue: $114 million Q1-2018 Production: 28 MBOEPD (79% Oil) Total Common Stock Outstanding: 213 million Enterprise Value: $3.2 billion Total Debt: $265 million 1P Reserves: 82.4 MMboe Operating Margin: -33.62% Management Team James J. Kleckner – President, CEO Robert W. Howard – Executive Vice President, CFO Craig R. Walters – Executive Vice President, COO Christopher I. Humber – Executive Vice President, General Counsel & Secretary Mark R. Petry – Executive Vice President, Land & Acquisitions The Oil and Gas Conference® Jagged Peak Energy is presenting at EnerCom’s The[Read More…]

July 23, 2018 - 2:34 pm Closing Bell Story, TOGC23
Jagged Peak CEO Joseph Jaggers to Retire in Late March

Jagged Peak CEO Joseph Jaggers to Retire in Late March

Jagged Peak Energy Inc. (ticker: JAG) Chairman, President and CEO Joseph N. Jaggers said that he plans to retire at the end of March 2018 for health and personal reasons. Following an orderly transition, current independent director James J. Kleckner will become the company’s president and CEO. Also, as part of the succession plan, current company director Charles D. Davidson, former CEO of Noble Energy Inc., will assume the role of chairman. Both appointments will take effect on the date of Jaggers’ retirement. The company also said that EVP and COO J. Jay Stratton, Jr. has departed the company. Craig Walters has been elected by the company’s board of directors to serve as EVP and COO. Jagged Peak anticipates that Jaggers will remain full-time with the company until his retirement and on a consulting basis thereafter to assist with the transition. Kleckner will remain on the board, but will resign[Read More…]

EnerCom’s 2017 Conference Day One Breakout Notes: Jagged Peak Energy

EnerCom’s 2017 Conference Day One Breakout Notes: Jagged Peak Energy

Jagged Peak Energy Breakout Notes Joseph N. Jaggers, chairman, president, and CEO of Jagged Peak Energy, Inc., (ticker: JAG) presented today at EnerCom’s The Oil & Gas Conference® 22. Jagged Peak Energy, headquartered in Denver, CO, is a Permian basin pure-play producer. Within its Permian asset, the company is looking to build production in three fields, the Cochise, Whiskey River, and Big Tex. During its second quarter, Jagged Peak averaged 14,614 BOEPD—81% of which was oil production. The company’s production was 50% higher than in Q1, 2017, and 166% higher than in Q2, 2017. Jagged drilled 13 gross wells during its second quarter, and put 14 on production. The company’s first Second Bone Spring well reached production levels of approximately 180 BOEPD per 1,000 feet of lateral length. During the quarter the company spent approximately $148.9 million on drilling and completion activities. During the company’s breakout session, management was asked[Read More…]

August 14, 2017 - 1:31 pm TOGC 22, TOGC Breakout Notes
Jagged Peak Energy: New Permian Pure Play Targeting 1,200 Drilling Locations

Jagged Peak Energy: New Permian Pure Play Targeting 1,200 Drilling Locations

Permian pure-play Jagged Peak Energy (ticker: JAG) holds approximately 70,000 net acres in the prolific basin. Within its Permian acreage, Jagged Peak has identified 1,265 potential drilling locations and—as of September, 2016—estimates its proved reserves value at 32.7 MMBOE. The company itself launched its initial public offering in January, 2017 and, in its first quarter as a public company, it averaged 9,785 BOEPD with an approximately 85% oil cut. Jagged Peak also spudded 12 gross horizontal wells and completed seven gross horizontal wells in Q1, 2017.  The seven completed wells averaged approximately 1,100 BOEPD during their first 201 days of operation. Positions in the Delaware Jagged Peak holds three primary fields in the Southern Delaware: the Cochise, Whiskey River, and Big Tex. The Whiskey River is the largest, with 33,218 net acres, followed by the Big Tex, with 22,009 net acres, and the Cochise, with 13,319 net acres. Taking steps[Read More…]

Permian Player Jagged Peak Energy Goes Public

Permian Player Jagged Peak Energy Goes Public

Jagged Peak Energy is developing 60,000 net acres in the Southern Delaware basin Jagged Peak Energy (ticker: JAG), made its official debut today after the pricing of its IPO on the New York Stock Exchange. Jagged Peak also launched its new website: www.jaggedpeakenergy.com. The stock opened at $14.18 and had traded more than 13 million shares by midday Friday. Jagged Peak Leadership Jagged Peak is led by Amoco/BP vet Joseph N. Jaggers. Jaggers has served as Jagged Peak’s chairman, president and CEO since April 2013. Jaggers previously served as CEO of Ute Energy, president and COO of Barrett Resources Corporation, regional vice president for Williams Companies and president, COO and director of Bill Barrett Corporation. Former Barrett executive Robert Howard serves as Jagged Peak’s executive vice president and CFO. Southern Delaware – the target from day one “We were formed with the goal of building a premier acquisition and development[Read More…]