Parsley Pioneers Three-Mile Lateral in Permian
By Richard Rostad, analyst, Oil & Gas 360

A drilling slowdown during Q4 did not prevent Parsley Energy (stock ticker: PE, $PE) from achieving several major drilling-related milestones. Parsley reports it drilled one of the longest wells in the Permian recently, a three-mile lateral. This well took only 25 days to drill, with less than nine days spent drilling the lateral segment itself.

Parsley announced fourth quarter results and reserves today, showing $53.8 million in net income, or $0.19 per share. After excluding derivatives and other special charges, Parsley reports it earned an adjusted $82.5 million this quarter, down from the $95.9 million Parsley earned in Q4 2017.


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