Apr 1, 2019

Here's Why Parsley Energy Can Swing To Free Cash Flows

By Sarfaraz A. Khan

Parsley Energy has been one of the fastest growing oil producers but it outspent cash flows by more than $650 million last year. 

Image courtesy of Pixabay

Parsley will reduce drilling activity, cut CapEx by 18% in 2019, and will deliver just 18% to 19% production growth, down from more than 60% last year. It will significantly reduce its cash flow deficit in 2019 and could even hit positive free cash flows later this year. The company has a strong balance sheet with a below-average debt-to-equity ratio and has no significant near-term maturities. Read full article at Seeking Alpha.