Parsley Energy LLC

Parsley Energy LLC, a subsidiary of Parsley Energy Inc., and Parsley's wholly-owned subsidiary, Parsley Finance Corp. have commenced a private offering of $400 million in aggregate principal amount of senior unsecured notes due 2028 to eligible purchasers.

Parsley intends to use the net proceeds from the notes offering and borrowings under its revolving credit facility to redeem all of the issuers' outstanding 6.250% senior unsecured notes due 2024 at a redemption price of 104.688%, plus accrued and unpaid interest to the redemption date, pursuant to the terms of the indenture relating to the 2024 notes. The issuers intend to issue a conditional notice of redemption with respect to the redemption. The redemption will be conditioned on the completion of the notes offering.