Jagged Peak Energy Inc. Prices Initial Public Offering

DENVER, CO --(Marketwired - January 26, 2017) - Jagged Peak Energy Inc. ( NYSE : JAG ) ("Jagged Peak") announced today the pricing of its initial public offering of 31,599,334 shares of its common stock at $15.00 per share. Jagged Peak is offering 28,333,334 shares of its common stock and the selling stockholders named in the registration statement on Form S-1 filed previously with the Securities and Exchange Commission (the "SEC") are offering 3,266,000 shares of Jagged Peak's common stock. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "JAG" on January 27, 2017. In addition, Q-Jagged Peak Energy Investment Partners, LLC, one of the selling stockholders and an affiliate of Quantum Energy Partners, has granted the underwriters a 30-day option to purchase up to an additional 4,739,900 shares of Jagged Peak's common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on February 1, 2017, subject to customary closing conditions.

Jagged Peak intends to use a portion of the approximately $397.1 million of net proceeds it will receive from this offering to fully repay the outstanding indebtedness under its credit facility and the remaining net proceeds to fund a portion of its 2017 capital program. Jagged Peak will not receive any of the proceeds from the sale of shares of Jagged Peak's common stock by the selling stockholders.

Citigroup, Credit Suisse, J.P. Morgan, Goldman, Sachs & Co., RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering. The offering of these securities will be made only by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933. When available, a copy of the prospectus may be obtained from:

Citigroup Global Markets Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (800) 831-9146

Credit Suisse Securities (USA) LLC Attention: Prospectus Department Eleven Madison Avenue New York, NY 10010 Telephone: (800) 221-1037 Newyork.prospectus@credit-suisse.com

J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204 prospectus-eq_fi@jpmchase.com

About Jagged Peak Energy Inc.

Jagged Peak Energy Inc. is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin, a sub-basin of the Permian Basin of West Texas.

Important Information

A registration statement relating to these securities has been filed with, and declared effective by, the SEC. The registration statement may be obtained free of charge at the SEC's website at www.sec.gov under "Jagged Peak Energy Inc." This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Jagged Peak's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Jagged Peak's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Jagged Peak does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Jagged Peak to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Jagged Peak's initial public offering. The risk factors and other factors noted in Jagged Peak's prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.