Parsley Energy (PE) Provides Supplementary Update On 2020 Development Plans

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Go back to Parsley Energy (PE) Provides Supplementary Update On 2020 Development Plans

Parsley Energy Provides Supplementary Update On 2020 Development Plans

March 18, 2020 8:00 AM EDT

AUSTIN, Texas, March 18, 2020 /PRNewswire/ -- Parsley Energy, Inc. (NYSE: PE) ("Parsley," "Parsley Energy," or the "Company") today provided a supplementary update on its 2020 development program that was outlined on March 9, 2020.

Supplementary Update for 2020 Outlook

Parsley is reiterating its baseline capital budget assumption of $30-35 WTI oil price for the remainder of 2020. In this context, Parsley is reducing its 2020 capital budget to less than $1.0 billion, representing a reduction of more than 40% at the midpoint to the Company's previous $1.6-$1.8 billion... More