Parsley Energy (PE) issued stock as much as any other Permian based company. For a long time, the Permian was "the place to be". Therefore, stock prices were relatively high and Parsley took maximum advantage of that price by issuing shares whenever possible. Those issuances paid for more leases and also allowed accelerated production growth.
Source: Seeking Alpha Website October 31, 2019
Now, Mr. Market has a very different attitude towards Permian based oil producers as shown above. Management has kept the balance sheet in good shape. So there are a lot of