Pioneer Natural Resources closed the acquisition of Parsley Energy after approval by shareholders of both companies. Parsley Energy shares are no longer traded, and its shareholders will receive 0.1252 shares of Pioneer for each of their securities.

Parsley Energy's loss under GAAP for 9 months of 2020 amounted to $4.101 billion, against a profit of $ 0.247 billion in the previous year. Revenue decreased by 14.2% to $1.232 billion compared to $1.436 billion a year earlier.

Pioneer Natural buys Parsley Energy for about $4.5 billion. Parsley shareholders will receive 0.1252 Pioneer shares for each share. Taking into account the debt of Parsley, the amount of the deal will be about $7.6 billion.

Pioneer Natural Resources is negotiating the purchase of its competitor Parsley Energy, the Wall Street Journal reported citing sources. The deal may take place as early as this month. The market value of Parsley Energy is about $4 billion, debt over $3 billion.