PE News and Press, Parsley Energy Inc. Class A From 04/09/20

As expected, OPEC+ Russia and its alliance partners of 10 countries agreed to meaningful production cuts to shore up an oversupplied market caused by significant demand destruction from the novel coronavirus's spread across the globe. Thirty million barrels per day (bpd) of oil are expected to...

Several years ago, I correctly forecast that deep water drillers are doomed . Now, it's the shale oil companies' turn. Investors need to run from shale stocks as fast as they can. We are about to see a massive wave of shale oil bankruptcies by thieving executives who have borrowed agains...

Demand for oil has cratered because of the COVID-19 outbreak. That's causing crude to  pile up in storage terminals around the world . Those facilities are quickly filling to the brim, which is causing concern that the industry will soon run out of space to store oil. That's leading pi...

Exxon Mobil (NYSE: XOM ) comes out in opposition to mandated oil production cuts by Texas energy regulators, joining Occidental Petroleum (NYSE: OXY ) and other large oil companies in opposing the idea. More news on: Exxon Mobil Corporation, Occidental Petroleum Corporation, Parsley Ener...

The Texas Railroad Commission ("RRC") has been asked ("The Motion") to conduct a "Market Demand Hearing" and to issue an order effective May 2020 production pursuant to its findings by Pioneer Natural Resources USA, Inc. ( PXD ) and Parsley Energy, Inc. ( PE ). The basis for the petition is th...

Parsley Energy ( PE +2% ) CEO Matt Gallagher says Texas production cuts of 20% may not be enough and his company is willing to cut its own output 20% if others do . More news on: Parsley Energy, Inc., Pioneer Natural Resources Company, Energy stocks news, Read more ...

Anyone who tried to sell short into the recent crude oil rally prompted by Donald Trump alluding to a 10 million barrel per day ("mmpd") coordinated cut to oil production has, at least for now, been run over by rampant market optimism. While many tend to levy criticism at Donald Trump and hi...

Oil prices scorched higher on Thursday with WTI, the U.S. oil benchmark, rallying 22% by 11:30 a.m. EDT, pushing it up close to $25 a barrel. That rally in the  energy market  sent oil stocks soaring, with several surging double digits. Among those leading the charge higher were&#...

The U.S. oil price benchmark WTI is bouncing back a bit today after crashing to an 18-year low of around $20 a barrel yesterday. That's helping fuel a rally in most  energy stocks . Shares of several U.S. producers jumped more than 10% by noon EDT on Tuesday, including  Devon En...

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha , iTunes , Stitcher and Spotify . Looking to extend the recent rally in equities and close Q1 on a more positive note, futures climbed another 0.7% overnight, bu...