About Parsley Energy
Parsley Energy is committed to unlocking the resource potential in the stacked pay core of the Midland Basin, where the majority of our reserves and production are concentrated.
Founded in 2008, Parsley Energy is an independent oil and natural gas company with operations in the Permian Basin, where we develop unconventional oil and natural gas reserves. As we efficiently and responsibly grow reserves, production, and cash flow by developing our liquids rich resource base, we seek to create value for shareholders, employees, energy consumers, and the communities in which we work.
Over the past several years we have grown – primarily through the drill bit – from a two-person start-up to a large-scale operation that operates several hundred wells and produces more than 22,000 barrels of oil equivalent per day (net). With a substantial inventory of vertical and horizontal drilling locations in the prolific core of the Midland Basin, we look forward to continued growth at superior rates of return.
Our Operational Strategy Involves:
Efficiently develop our resource base through a strategic mix of vertical and horizontal drilling
Drive operational and cost efficiency by maintaining control of our production
Focus on core acreage, where rock quality and technical expertise have driven significant production outperformance
Our Financial Strategy Is:
Maintain a strong balance sheet and financial flexibility to weather downturns and pursue strategic objectives
Protect cash flows by hedging a significant portion of our production
Opportunistically supplement our premier acreage position in the Midland Basin core through leasing and selective acquisitions