Parsley Energy Shares Slide On Announced Secondary Offering

Parsley Energy Inc. shares fell in the extended session Tuesday after the independent oil and natural gas company announced a secondary offering of its shares. Parsley shares fell 4.3% to $35.09 after hours. The company said it plans to offer 20 million shares, with an additional 3 million optional shares to underwriters. Morgan Stanley and BMO Capital Markets are the joint lead bookrunners for the offering. Parsley already has nearly 180 million shares outstanding.