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Parsley Energy reported third-quarter 2020 results, showing positive free cash flow and net income of $22.6 million ($0.06 per share). The company declared a quarterly dividend of $0.05 per share, payable December 18, 2020. Production decreased 1% QoQ but rose 21% YoY to 111.0 MBo per day. Parsley has entered a definitive merger agreement with Pioneer Natural Resources, valued at approximately $7.6 billion. Operationally, the company improved drilling efficiency, placing 26 wells into production and reducing lease operating expenses by 14%.
Parsley Energy, Inc. (NYSE: PE) is set to report its third quarter 2020 financial results on October 28, 2020, after the market closes. The company will host a conference call on October 29, 2020, at 10:00 AM ET to discuss its financial metrics and performance. Investors can participate by phone or via webcast through its website. The call will be available for replay until November 5, 2020.
Parsley Energy (NYSE: PE) has released its 2019 Corporate Responsibility Report, detailing its commitment to governance, environmental stewardship, and community engagement. Highlights include a reduction of greenhouse gas emissions intensity by 14%, less than 1.5% of natural gas flared in Q2 2020, and significant improvements in spill rates and safety metrics. The report emphasizes the company's ESG initiatives, enhanced by the acquisition of Jagged Peak Energy in January 2020. Parsley aims to continue strong free cash flow generation in 2020 despite macro challenges.
Parsley Energy (NYSE: PE) announced its 2Q20 financial results, revealing a net loss of $0.4 billion or $0.95 per share. The company generated positive free cash flow of at least $350 million for 2020, revising its capital budget to $650-$700 million. Despite a challenging oil market, Parsley reduced natural gas flaring by 90% and reactivated drilling operations as oil prices improved. With net oil production averaging 112.6 MBo per day, the company managed costs effectively, reducing lease operating expenses to $3.69 per Boe.
Parsley declared a quarterly dividend of $0.05 per share.
