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Parsley Delineates Wolfcamp C with Latest IPs; Updates 2018 Guidance
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Parsley has updated its 2018 expectations as well as detailed its recent Wolfcamp C well results.
2018 Capital Program Update Due to its recent sale of non-op properties, Parsley now expects average net oil production of 65-70 MBo per day in 2018, representing year-over-year growth of 50% at the midpoint. The Company expects corresponding total production volumes of 98-108 MBoe per day in 2018. Expects to place approximately 40 gross horizontal wells on production per quarter during 2018 (~160 total for year) Expectations toward the higher end of the previously issued guidance for 2018 capital expenditures of $1.35-1.55 billion given the likelihood of service and equipment cost inflation. Wolfcamp Well ResultsParsley placed several Wolfcamp C wells on production during 2017…
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