Parsley Energy Reaffirms 2020 Operating Plan of 15 Drilling Rigs; CapEx Guidance Adjusted 1/24/2020

Parsley Energy adjusted its 2020 capital spending guidance slightly, shifting the top end from $1.9 billion to $1.8 billion, with a new range of $1.6-$1.8 billion. This will include $1.5-$1.6 billion in drilling, completion and equipment costs.  The budget reduction was due to "efficiency gains and savings on services following a comprehensive integrated budgeting process."

Operationally, the plan has not changed and the firm will run 15 development rigs and 4-5 frac spreads.

Birchcliff Energy Outlines Five-Year Operating Plan Through 2024 1/23/2020

Birchcliff Energy issued a high-level operating plan for 2020-2024.  The plan would see production rise from 80-82 Mboe/d in 2020 and then reach 96.5 Mboe/d in 2022 after which it will flatten out.

2020 capital spending is expected at $340-$360 million and $350 million in 2021.  After that point, spending will gradually decline to a 2024 total of $240 million.