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Parsley to Reduce 2H17 Completion Activity; Wolfcamp A & C Delineation
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Parsley reported its Q2 2017 results. Highlights from its release / conference call include:
- Net production averaged 64.7 MBoe per day, up 18% versus 1Q17 and 81% year-over-year. As a result, Parsley is increasing full-year 2017 net production guidance from 65-71 MBoe per day to 67-73 MBoe per day
- Parsley reiterates estimated full-year 2017 capital expenditures of $1.0-$1.15 billion
- Parsley is lowering its planned completions -7% for 2017, from 130-150 to 120-140 (~10 less wells than planned - these will be completed in early 2018).
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