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PE - Parsley Energy Earnings Preview: Conserving Cash Flows In A Tough Period
Parsley Energy Inc. Class A
Parsley Energy (PE) will release its financial results next week in which it will likely report a large drop in earnings due to weakness in oil prices and low levels of production. The shale oil producer's cash flows might have also fallen but not as severely, thanks to the support from crude oil hedges. The Austin, Texas-based Parsley Energy, however, likely didn't burn cash flows since its capital expenditures would have declined from $379 million in the first quarter to less than $100 million in the second quarter. The company might also provide