Parsley Energy: Restoring Output Curtailments this Month


   
    

   OAKHURST, N.J. (DTN) --- Parsley Energy, Inc., which curtailed about 26,000 
bpd of production in May, expects to restore the ?vast majority' of 
curtailments early this month, according to presentation documents.

   Nearly one month ago, as a result global oil demand destruction from 
COVID-19 and the lower commodity price environment, Parsley said its 2020 
capital budget would be reduced to less than $700 million, with reported first 
quarter capital expenditures of $379 million representing more than 50% of its 
revised full-year budget.

   The company on May 4 also revised its baseline capital budged assumption 
from a $30 to $35 WTI oil price to a $20 to $30 WTI oil price for the remainder 
of 2020.




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