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Parsley Energy lays off most workers as part of sale to Pioneer Natural Resources-government notice

Parsley Energy lays off most workers as part of sale to Pioneer Natural Resources-government notice

December 11, 2020

(Reuters) – Parsley Energy will lay off most of its Austin, Texas workforce as part of its sale to Pioneer Natural Resources, according to a notice to the Texas Workforce Commission posted on Friday.

Pioneer Natural Resources is buying Parsley in a deal valued around $4.5 billion, part of a wave of consolidation among U.S. shale producers slammed by pandemic-driven collapse in oil demand.

The Parsley layoffs include 234 workers, though some of those employees will be offered jobs with Pioneer in Las Colinas, Texas or Midland, Texas, a letter to the state agency said. The layoff data is expected to be Feb. 8.

(Reporting by Jennifer Hiller; editing by Diane Craft)

The post Parsley Energy lays off most workers as part of sale to Pioneer Natural Resources-government notice first appeared on One America News Network.

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