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Parsley Drills Record Wolfcamp Well in 1Q; Production Up 54% YOY
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Parsley Energy, Inc. announced financial and operating results for the quarter ended March 31, 2016.
Key Points: During the first quarter, Parsley spud 20 and completed 15 gross operated horizontal wells with an average working interest of 92%. The Atkins 14-11-4202H, completed on a three-well pad in Upton County, established a Company-record 30-day IP rate for a Wolfcamp A well at 1,883 Boe/d or 242 Boe/d per thousand completed feet. Net production averaged 29.1 MBoe/d, up 15% versus 4Q15 and 54% year-over-year. Parsley announced agreements to acquire 22,908 net acres in the Southern Delaware and Midland Basins for approximately $359 million in cash. During the first quarter of 2016, the Company recorded a net loss attributable to its stockholders of $17.6 million, or $0.13 per…- ✓ Full news archive — U.S., Canada & international coverage
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