Fort Worth oil firm sells Midland Basin assets for $2.8 billion as Permian rush continues
Double Eagle Energy Permian LLC, the Fort Worth oil explorer founded by a retired NFL player and his high school buddy, is selling 71,000 acres in Texas’ oil-rich Midland Basin for $2.8 billion.
The land is being sold to Parsley Energy, the Austin-based driller run by Southern Methodist University graduate Bryan Sheffield. He’s been described as the oil patch’s newest billionaire. He’s also the son of Pioneer Natural Resources’ executive board chairman Scott Sheffield.
The cash and stock deal, announced Tuesday, will bring Parsley’s holdings in the Permian Basin to 227,000 acres.
Written by Paul O’Donnell for DallasNews.com