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E&P Talks New Permian Development Plan; 85 Wells In 2016
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Parsley Energy, Inc. has announced financial and operating results for the quarter ended June 30, 2016.
Expects to complete 80-90 gross horizontal wells in 2016, up from the previous expectation of 65-75 gross horizontal wells. Which is 85 based on midpoint of guidance.Second Quarter 2016 Highlights
Net production averaged 35.7 MBoe per day, up 23% Q1 2016, 60% year-over-year. Net oil production increased 25% versus 1Q16 and 82% year-over-year, with oil volumes representing 66% of total production in 2Q16. Increasing full-year 2016 production guidance: 31.5-34.5 MBOEPD to 36.0-38.0 MBOEPD To accommodate additional wells, Parsley is increasing guidance for full-year 2016 capex from $410-$460 MM to $460-$510 MM Closed acquisitions of approximately 14,200 net acres in the Southern…- ✓ Full news archive — U.S., Canada & international coverage
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