Consolidating financial statements equity

Posted by / 23-Sep-2017 14:20

Parsley's first well targeting the Wolfcamp C formation, the Taylor H, continues to generate robust volumes, with cumulative production of over 525 MBoe (56% oil) after 240 days.

The Taylor well achieved payout within six months and was still producing over 700 Bbls of oil per day after eight months on production.

, Nov. 7, 2017 /PRNewswire/ -- Parsley Energy, Inc.

(PE) ("Parsley," "Parsley Energy," or the "Company") today announced financial and operating results for the quarter ended September 30, 2017.

New factors emerge from time to time, and it is not possible for Parsley Energy to predict all such factors.The Company has also posted to its website a presentation that supplements the information in this release.Forward Looking Statements Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.This cost/benefit relationship continues to imply a compelling economic profile, motivating additional tests during 2018. Excluding, on a tax-adjusted basis, certain items that the Company does not view as indicative of its ongoing financial performance, and adding back the non-controlling interest allocated to Class B stockholders, adjusted net income for 3Q17 was per weighted average share, during 2Q17.Excluding, on a tax-adjusted basis, certain items that the Company does not view as indicative of its ongoing financial performance, and adding back the non-controlling interest allocated to Class B stockholders, adjusted net income for 3Q17 was for facilities and infrastructure.

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This revised Midland Basin curve better reflects the Company's expanded acreage footprint, recognizes the shift to higher average lateral lengths, and captures incremental gas and NGL production based on actual results.

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