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 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.