Spending falls, production growth decelerates
Parsley Energy (ticker: PE) provided its 2019 outlook today, summarizing the company’s plans for the coming year.

Like Diamondback’s plan released yesterday, Parsley plans to slow down next year, operating with fewer rigs and frac spreads. Parsley plans to deploy 12-to-14 rigs and three-to-four frac spreads on average in 2019, down from a recent rate of 16 rigs and five frac spreads.

Parsley expects to produce 124-134 MBOEPD in 2019, representing 20% growth from 2018 levels. This falls short of the 60% production growth Parsley expects to achieve in 2018. The company expects to spend $1.35-$1.55 billion in 2019, below the $1.7 billion Parsley is scheduled to spend this year.

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