LONDON, UK / ACCESSWIRE / December 20, 2017 / Active-Investors free earnings report on Parsley Energy, Inc. (NYSE: PE) ("Parsley") has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=PE. The Company posted its third quarter fiscal 2017 operating results on November 07, 2017. The leading oil and natural gas Company's net production rose by 11.00% in the reported quarter. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Parsley Energy most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Earnings Highlights and Summary

In the third quarter of the fiscal year 2017, Parsley's net revenues surged 81.85% to $241.02 million compared to $132.54 million in Q3 FY16. The Company's revenue numbers topped analysts' estimates of $239.50 million.

The Company's operating income was $177.95 million in the reported quarter compared to $120.20 million in Q3 FY16, advancing 48.04% due to the completion of 36 gross horizontal wells. Its first well, the Taylor 45-33-4601 H, continues to grow volume-wise with cumulative production of 525 MBoe after 240 days.

Parsley reported a net loss of $13.33 million in Q3FY17 compared to a net loss of $2.71 million in Q3 FY16. The Company's adjusted earnings before interest, income taxes, depreciation, amortization, depletion, and exploration (EBITDAX) were $164.90 million in Q3 FY17, up 15% from Q2 FY17. Parsley's diluted loss was $0.05 per share in the reported quarter compared to $0.02 in Q3 FY16. The Company's adjusted earnings were $0.12 per share in Q3 FY17, beating analysts' estimates of $0.10.

Segment Details

Parsley's Oil Sales segment's revenues were $198.87 million in Q3 FY17 compared to $112.71 million in Q3 FY16, declining by 76.45%. The segment's net production volume was 4,342 MBbls in the reported quarter compared to 3,917 MBbls in Q3 FY16.

The Natural Gas Sales segment's revenues surged 84.47% to $15.60 million in the reported quarter compared to $8.46 million in Q3 FY16. The segment's net production volume was 6,265 MMcf in Q3 FY17 compared to 5,421 MMcf in Q3 FY16.

The Natural Gas Liquid Sales segment's revenues were $26.55 million in Q3 FY17 compared to $10.77 million in Q3 FY16, reflecting a growth of 146.69%. The segment's net production volume was 1,194 MBbls in the reported quarter compared to 1,069 MBbls in Q3 FY16.

Balance Sheet

Parsley had a long-term debt balance of $1.49 billion in Q3 FY17 compared to $1.04 billion in Q4 FY16. The Company issued $700.00 million of senior unsecured notes due 2027 in October 2017. It had approximately $1.90 billion of liquidity, which consisted of $934.00 million of cash on hand, and an undrawn amount of $997.30 million on the Company's revolver.

Cash Matters

Parsley had cash and cash equivalents of $242.55 million on September 30, 2017, compared to $571.76 million on September 30, 2016. The Company's cash inflow from operating activities was $491.26 million in Q3 FY17 compared to $175.20 million in Q3 FY16. The Company reported capital expenditure of $307.00 million in Q3 FY17, inclusive of $281.00 million for drilling and completion, and $26.00 million for facilities and infrastructure. Parsley repurchased 5,664 shares at an average price of $28.80 for a total consideration of $1.63 million in July 2017. The Company incurred $42.20 million in Q3 FY17, due to the acquisition of leasehold acreage.

Outlook

For the fiscal year 2018, Parsley anticipates capital expenditure to be in the range of $1.35 billion - $1.55 billion, which would translate to an oil production of 67.5 - 72.5 MBo per day.

Stock Performance Snapshot

December 19, 2017 - At Tuesday's closing bell, Parsley Energy's stock slightly advanced 0.49%, ending the trading session at $26.84.

Volume traded for the day: 3.03 million shares.

Stock performance in the last month ? up 5.46%; previous three-month period ? up 1.63%; and past six-month period ? up 2.80%

After yesterday's close, Parsley Energy's market cap was at $8.61 billion.

Price to Earnings (P/E) ratio was at 372.78.

The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.

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