Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary estimated fair value of the assets acquired and liabilities assumed as a result of the Jagged Peak Acquisition (in thousands):

Cash	$	53,347
Accounts receivable	76,141
Derivative assets	11,644
Other current assets	534
Proved oil and natural gas properties	1,538,808
Unproved oil and natural gas properties	1,505,521
Other property, plant and equipment	20,003
Operating lease right-of-use assets	11,090
Total assets acquired	3,217,088
Accounts payable and accrued expenses	146,874
Derivative liabilities	27,907
Operating lease liabilities	11,525
Deferred tax liabilities, net	367,340
Long-term debt	884,435
Asset retirement obligations	2,808
Total liabilities assumed	1,440,889
Estimated fair value of net assets acquired	$	1,776,199

Condensed Financial Statements

The financial information is derived from the Company's unaudited condensed consolidated financial statements for the three months ended March 31, 2020 and 2019 and Jagged Peak’s unaudited interim financial statements from January 1, 2019 to January 10, 2020.

	Three Months Ended March 31,
(in thousands, except for per share data)	2020		2019
Revenues	$	577,026	$	557,266
Operating (loss) income	(4,832,897)		168,132
Net loss	(3,766,948)		(108,078)
Net loss attributable to Parsley Energy, Inc.	(3,397,991)		(96,504)
Net loss per common share
Basic	$	(9.05)	$	(0.26)
Diluted	$	(9.05)	$	(0.26)