Parsley Energy (PE) delivered excellent results in Q2 2019. This has contributed to Parsley increasing its full-year production guidance by several percent while also reducing its cost guidance by $0.60 per BOE and keeping its capital expenditure budget approximately the same.
As a result, Parsley's cash burn is now expected to be just above $150 million, which is a good outcome given the relatively weak commodity prices (especially for natural gas and NGLs) and the 15% Q4 2018 to Q4 2019 oil production growth that Parsley expects.
Parsley should be in a good