Parsley Energy, Inc. (NYSE:PE) intends to use a portion of the net proceeds of Equity Offering of 20 million shares of class A to fund the aggregate purchase price for certain acquisitions of oil and natural gas interests in the Midland and Southern Delaware Basins (the "Acquisitions"), and any remaining net proceeds will be used to fund a portion of the Company's capital program and for general corporate purposes, including potential future acquisitions.