In-basin sand is saving $500,000 per well
By Richard Rostad, analyst, Oil & Gas 360

Parsley Energy (ticker: PE) announced first quarter results today, showing a net loss of $24.1 million, or ($0.09) per share.

After excluding derivative losses and other special items, Parsley earned an adjusted $62.3 million, or $0.22 per share in the quarter. The company produced 125.4 MBOEPD in Q1, up 5% sequentially. While this growth may be slower than what was seen in 2017 and 2018 it is well above the average seen so far this year, as many firms are holding production flat in the early part of 2019.

Parsley recently completed its first test of in-basin sand, a design many Permian companies have begun utilizing. While results are still pr...

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