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Parsley Turns on Taps at Wolfcamp Wells; Raises Capital Budget
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Parsley Energy, Inc. announced financial and operating results for the quarter ended June 30, 2015. The Company has posted to its website a presentation that supplements the information in this release.
Second Quarter 2015 Highlights Parsley increased net production to 22.2 MBoe/d, an increase of 18% over Q1 2015 and up 59% year-over-year. The Company is raising full-year 2015 production guidance for the second consecutive quarter, up from a range of 20-21.5 MBoe/d to a range of 21.5-22.5 MBoe/d. Parsley increased adjusted EBITDAX (as defined herein) by 48% quarter-over-quarter to $53.4 million in Q2 2015. The Company placed five Wolfcamp B wells on production in the second quarter-three in Upton County and two in Reagan County-with an average initial production rate of 189 Boe/d per…- ✓ Full news archive — U.S., Canada & international coverage
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