Exhibit 99.2

UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS

On January 10, 2020, Parsley Energy, Inc. (“Parsley”) completed the acquisition of Jagged Peak Energy Inc. (“Jagged Peak”), pursuant to that certain Agreement and Plan of Merger, dated as of October 14, 2019 (the “Merger Agreement”), among Parsley, Jackal Merger Sub, Inc., a wholly owned subsidiary of Parsley (“Merger Sub”), and Jagged Peak. Pursuant to the Merger Agreement, Merger Sub merged with and into Jagged Peak (the “Merger”), with Jagged Peak continuing as the surviving corporation, and immediately thereafter, as part of the same transaction, Jagged Peak merged with and into Jackal Merger Sub A, LLC, a Delaware limited liability company and wholly owned subsidiary of Parsley (“LLC Sub”), with LLC Sub continuing as the surviving entity. At the Effective Time of the Merger (the “Effective Time”), each eligible share of common stock, par value $0.01 per share, of Jagged Peak (“Jagged Peak Common Stock”) issued and outstanding immediately prior to the Effective Time was automatically converted into the right to receive 0.447 shares (the “Exchange Ratio”) of Class A common stock, par value $0.01 per share, of Parsley (“Parsley Class A common stock”), with cash paid in lieu of the issuance of any fractional shares.

The following unaudited pro forma combined financial information (the “pro forma financial statements”) give effect to the Merger, which is being accounted for using the acquisition method of accounting with Parsley identified as the acquirer. Under the acquisition method of accounting, Parsley recorded assets acquired and liabilities assumed from Jagged Peak at their respective acquisition date fair values as of January 10, 2020, the date the Merger was completed.

The following pro forma financial statements are derived from the consolidated financial statements of Parsley and Jagged Peak as of and for the year ended December 31, 2019, adjusted to reflect the Merger and related transactions. Certain of Jagged Peak’s historical amounts have been reclassified to conform to Parsley’s financial statement presentation. The unaudited pro forma combined balance sheet (the “pro forma balance sheet”) as of December 31, 2019 gives effect to the Merger as if it had been completed on December 31, 2019. The unaudited pro forma combined statement of operations (the “pro forma statement of operations”) for the year ended December 31, 2019 gives effect to the Merger and related transactions as if they had been completed on January 1, 2019.

The pro forma financial statements reflect the following merger-related pro forma adjustments, based on available information and certain assumptions that Parsley believes are reasonable:

Assumptions and estimates underlying the pro forma adjustments are described in the accompanying notes, which should be read in conjunction with the pro forma financial statements. In Parsley’s opinion, all adjustments that are necessary to present fairly the pro forma information have been made. The historical consolidated financial statements have been adjusted in the pro forma financial statements to give effect to the Merger. These adjustments are directly attributable to the Merger, factually supportable and, with respect to the pro forma statement of operations, expected to have a continuing impact on the combined results of Parsley and Jagged Peak following the Merger.

As of the date hereof, Parsley has not completed the detailed valuation study necessary to arrive at the required final estimates of the fair value of the assets to be acquired and the liabilities to be assumed and the related allocations of purchase price, nor has it identified all adjustments necessary to conform Jagged Peak’s accounting policies to Parsley’s accounting policies. The final determination of the fair value of Parsley’s assets and liabilities will be based on the actual assets and liabilities of Jagged Peak that existed as of the closing date of the Merger. In addition, the value of the consideration paid by Parsley upon the consummation of the Merger is based on the closing price of Parsley Class A common stock on January 9, 2020, the trading day immediately preceding the closing date of the Merger. The pro forma adjustments are preliminary and are subject to change as additional information becomes available and as additional analysis is performed. The preliminary pro forma adjustments have been made solely for the purpose of providing the unaudited pro forma financial statements presented below. Parsley estimated the fair value of Jagged Peak’s assets and liabilities based on discussions with Jagged Peak’s management, preliminary valuation studies, due diligence, and information presented in Jagged Peak’s U.S. Securities and Exchange Commission (“SEC”) filings. Any increases or decreases in the fair value of assets acquired and liabilities assumed upon completion of the final valuations will result in adjustments to the pro forma balance sheet and/or statement of operations. The final purchase price allocation may be materially different than that reflected in the pro forma purchase price allocation presented herein.

The pro forma financial statements are provided for illustrative purposes only and are not intended to represent what Parsley’s financial position or results of operations would have been had the Merger actually been consummated on the assumed dates nor do they purport to project the future operating results or financial position of the combined company following the Merger. The pro forma financial statements do not reflect events that have occurred, or future events that may occur, after the Merger, including, but not limited to, the anticipated realization of ongoing savings from potential operating efficiencies, asset dispositions, cost savings, or economies of scale that the combined company may achieve with respect to the combined operations. Specifically, the pro forma statement of operations does not include projected synergies expected to be achieved as a result of the Merger or any associated costs that may be required to be incurred to achieve the identified synergies. Additionally, Parsley cannot ensure that charges will not be incurred in excess of those included in the pro forma total consideration related to the Merger or Parsley’s efforts to achieve synergies and integrate the operations of the companies, or that management will be successful in its efforts to integrate the operations of the companies. The pro forma statement of operations also excludes the effects of transaction costs associated with the Merger, costs associated with any restructuring, integration activities, and asset dispositions that have occurred or may result from the Merger. Further, the pro forma financial statements do not reflect the effect of any potential regulatory actions that may impact the results of the combined company following the Merger.

The pro forma financial statements should be read in conjunction with: (i) the accompanying notes to the pro forma financial statements; (ii) the consolidated financial statements of Parsley as of and for the year ended December 31, 2019, and notes related thereto, which are contained in Parsley’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “Parsley 2019 Form 10-K”); (iii) the consolidated financial statements of Jagged Peak as of and for the year ended December 31, 2019, and notes related thereto, which are attached as an exhibit to the Current Report on Form 8-K to which these pro forma financial statements are attached as an exhibit; and (iv) the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in the Parsley 2019 Form 10-K.

PARSLEY ENERGY, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA COMBINED BALANCE SHEET

DECEMBER 31, 2019

PARSLEY ENERGY, INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS

YEAR ENDED DECEMBER 31, 2019

NOTES TO UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION

Note 1—Basis of Presentations

The pro forma financial statements have been derived from the consolidated financial statements of Parsley and Jagged Peak as of and for the year ended December 31, 2019. Certain of Jagged Peak’s historical amounts have been reclassified to conform to Parsley’s financial statement presentation. The unaudited pro forma combined balance sheet as of December 31, 2019 gives effect to the Merger as if it had occurred on December 31, 2019. The pro forma statement of operations for the year ended December 31, 2019 gives effect to the Merger as if it had occurred on January 1, 2019.

The pro forma financial statements reflect pro forma adjustments that are based on available information and certain assumptions that Parsley believes are reasonable. In Parsley’s view, all adjustments known to date that are necessary to present fairly the pro forma information have been made. The estimated merger-related transaction costs total $53.8 million, including fees related to advisory, legal, investment banking and other professional services, all of which are directly attributable to the Merger. The pro forma financial statements do not purport to represent what the combined company’s financial position or results of operations would have been if the Merger had actually occurred on the dates indicated above, nor are they indicative of Parsley’s future financial position or results of operations.

As described above, the pro forma financial statements should be read in conjunction with: (i) the consolidated financial statements of Parsley as of and for the year ended December 31, 2019, and notes related thereto, which are contained in the Parsley 2019 Form 10-K; (ii) the consolidated financial statements of Jagged Peak as of and for the year ended December 31, 2019, and notes related thereto, which are attached as an exhibit to the Current Report on Form 8-K to which these pro forma financial statements are attached as an exhibit; and (iii) the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in the Parsley 2019 Form 10-K.

Note 2—Unaudited Pro Forma Combined Balance Sheet

The Merger is being accounted for using the acquisition method of accounting for business combinations. The allocation of the purchase price is based upon the closing price of Parsley’s Class A common stock on the trading day immediately preceding January 10, 2020, the date the Merger was completed. As shown below, Parsley has performed a preliminary allocation of the purchase price, which remains subject to change.

Total consideration transferred for the Merger was approximately $1.78 billion. The following table summarizes the consideration transferred at the date of the Merger. The allocation of the consideration transferred is based on management’s estimates, judgments and assumptions. When determining the fair values of assets acquired, liabilities assumed and noncontrolling interests of the acquiree, management made significant estimates, judgments and assumptions.

The preliminary merger consideration transferred, fair value of assets acquired, and liabilities assumed are as follows (in thousands, except the Exchange Ratio and per share data):

Under the Merger Agreement, Jagged Peak stockholders received 0.447 shares of Parsley Class A common stock for each eligible share of Jagged Peak Common Stock issued and outstanding immediately prior to the Effective Time of the Merger. Parsley issued approximately 95.4 million shares of Parsley Class A common stock, or $1.76 billion in value, as merger consideration. As a result of the Merger, Jagged Peak restricted stock units converted into awards of Parsley restricted stock units and Jagged Peak performance stock units were settled through the issuance of 1.3 million shares of Parsley Class A common stock in accordance with the Merger Agreement.

The Merger was non-taxable to Jagged Peak stockholders, and Jagged Peak’s tax basis in the assets and liabilities carried over to Parsley.

Note 3—Pro Forma Adjustments

The following adjustments have been made to the accompanying pro forma financial statements:

Unaudited Pro Forma Combined Balance Sheet as of December 31, 2019:

Unaudited Pro Forma Combined Statement of Operations for the Year Ended December 31, 2019:

The impact of pro forma merger adjustments on total equity are summarized below (in thousands):

The impact of pro forma merger adjustments on Parsley Class A common stock and basic and diluted earnings per share are summarized below:

Note 4—Supplemental Pro Forma Oil and Natural Gas Reserves Information

The following tables present the estimated pro forma combined net proved developed and undeveloped oil, natural gas and NGLs reserves as of December 31, 2019, along with a summary of changes in the quantities of net remaining proved reserves during the year ended December 31, 2019. The proved undeveloped reserves of Jagged Peak are based on Jagged Peak’s development plans and reserve estimation methodologies. Because Parsley will develop such proved undeveloped reserves in accordance with its own development plan and, in the future, will estimate proved undeveloped reserves in accordance with its own methodologies, the estimates presented herein for Jagged Peak may not be representative of Parsley’s future reserve estimates with respect to these properties or the reserve estimates Parsley Inc. would have reported if it had owned such properties as of December 31, 2019. Parsley is currently undertaking an analysis to further refine the combined company’s pro forma reserve information that has not yet been completed. The preliminary pro forma reserve information set forth below gives effect to the Merger as if it had been completed on January 1, 2019.

Standardized Measure of Discounted Future Net Cash Flows

The following table presents the estimated pro forma standardized measure of discounted future net cash flows (the “pro forma standardized measure”) at December 31, 2019. The pro forma standardized measure information set forth below gives effect to the Merger as if it had been completed on January 1, 2019. The disclosures below were determined by referencing the “Standardized Measure of Discounted Future Net Cash Flows” reported in the notes to the consolidated financial statements of Parsley contained in the Parsley 2019 Form 10-K and the consolidated financial statements of Jagged Peak as of and for the year ended December 31, 2019, and notes related thereto, which are attached as an exhibit to the Current Report on Form 8-K to which these pro forma financial statements are attached as an exhibit. An explanation of the underlying methodology applied, as required by SEC regulations, can be found within the aforementioned notes to the consolidated financial statements of Parsley and Jagged Peak. The calculations assume the continuation of existing economic, operating and contractual conditions at December 31, 2019.

The following estimated pro forma standardized measure is not necessarily indicative of the results that might have occurred had the Merger been completed on January 1, 2019 and is not intended to be a projection of future results. Future results may vary significantly from the results reflected because of various factors, including certain of those discussed under the heading “Item 1A. Risk Factors” included in the Parsley 2019 Form 10-K. The pro forma standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves as of December 31, 2019 is as follows:

The changes in the pro forma standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves for the year ended December 31, 2019 are as follows: