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Parsley Energy, Narrows 2020 Capex, Resume Frac Activity
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Parsley Energy, Inc. reported its Q2 2020 results.
2020 GuidanceThe Company is narrowing its 2020 capital budget to $650-$700 million (previously less than $700 million), with reported 1H20 capital expenditures of $443 million representing more than 60% of this full-year budget.
Out of an abundance of caution, the Company has not elected to reinstate detailed guidance on production and activity given ongoing uncertainty caused by COVID-19.
Updated 2020 Outlook In light of improved oil pricing and reduced volatility, Parsley is revising its baseline capital budget assumption from a $20-$30 WTI oil price to a $35 WTI oil price for the remainder of 2020. In this context, the Company is narrowing its 2020 capital budget to $650-$700 million from less than $700 million. With regional oil…- ✓ Full news archive — U.S., Canada & international coverage
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