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United States

Profile: Parsley Energy Inc (PE.N)

PE.N on New York Stock Exchange

18.96USD
26 Jun 2019
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Parsley Energy, Inc., incorporated on December 11, 2013, is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company's properties are primarily located in the Midland and Delaware Basins, where it focuses on horizontal development drilling and target various stacked pay intervals in the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline) and Atoka shales.

As of December 31, 2016, it had an average working interest of 87% in 166 gross (146.7 net) horizontal wells, of which 151 gross (132.4 net) are in the Midland Basin. As of December 31, 2016, the Company operated seven horizontal rigs and three vertical drilling rigs. The vertical rigs are used primarily to drill the vertical portion of horizontal wells. As of December 31, 2016, the Company's estimated proved oil and natural gas reserves were 222.3 million barrels of oil equivalent (MMBoe).

The Company has divided its assets into two areas, including the Midland Basin and Southern Delaware Basin. As of December 31, 2016, it had 123,330 gross (95,072 net) acres in its Midland Basin area. It had interests in 151 gross (132.4 net) producing horizontal wells in the Midland Basin and had operated 97% of the wells in the Midland Basin in which it had an interest as of December 31, 2016. As of December 31, 2016, it also had interest in 688 gross (465.5 net) producing vertical wells. As of December 31, 2016, it had 48,400 gross (43,495 net) acres in its Delaware Basin area. As of December 31, 2016, it had interests in 15 gross (14.3 net) producing horizontal wells in the Delaware Basin. As of December 31, 2016, it also had interest in 16 gross (16.0 net) producing vertical wells.

Company Address

Parsley Energy Inc

303 Colorado St Ste 3000
AUSTIN   TX   78701-4654
P: +1432.8182100
F: +1302.6555049

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