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Permian E&P Talks 2020 Plan; 200 Wells To Drill & Complete, 15 Rigs
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Parsley Energy, Inc. has detailed its 2020 development program.
It is posting increases across all areas of its operating plan, however that is to be expected due to its 2019 acquisition of Jagged Peak Energy. When combining the pro-forma data, spending is down 19% YOY and rig count is down 17%.
However, the company's well plans are essentially flat YOY (Delaware Basin is flat at 72 TILs planned and the Midland will see a 13% increase in TIL activity).
Slowing Oil Production Growth: Parsley will be slowing its oil production in 2020 compared to prior years, according to their capital plan.
From 2017 to 2018, Parsley grew oil output by 77% and from 2018 to 2019 it grew by 25%.
For 2020, the company is expecting to slow its oil output growth to only 10% YOY, coming in at 125-133 MBOPD.
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