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)