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Permian Operator to Increase Activity in 2016; Plans 65 Completions
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Parsley provided the following guidance for 2016.
Parsley expects that its currently contemplated 2016 capital program will enable the Company to sustain a healthy growth trajectory while enhancing operating margins and maintaining a strong financial profile.
The Company plans to complete 60-70 gross operated horizontal wells in 2016—35% more wells at the midpoint than the Company completed in 2015—with average lateral lengths up from approximately 6,400 feet in 2015 to approximately 7,000 feet in 2016. Anticipated capital spending of $380-$430 million in 2016 is flat at the midpoint relative to 2015 capex.
Parsley expects to average 30.0-33.0 MBoe/d in 2016, representing 43% production growth at the midpoint relative to 2015 average daily production. The Company expects to grow oil…
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