Parsley Energy Class A (PE)

[Timothy Smith]

$PE holds ~111,600 pro forma net acres in the Permian Basin, of which ~89,300 net acres (~80% of total) are located in the Midland Basin and 22,300 net acres are located in the Delaware Basin.

Within its Midland Basin holdings, the company has ~36,700 net acres in the core in Midland and Martin Counties of which the company operates 100%.

With multiple Wolfcamp benches as well as other prospective formations, the company’s acreage position may represent significantly more ‘effective’ net acreage relative to other single formation horizontal plays.

Going forward, the development of multiple formations will be a key driver to meaningfully increasing shareholder value.