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Saturday, 03/14/2020 12:49:01 PM

Saturday, March 14, 2020 12:49:01 PM

Post# of 6243
Parsley's interesting. Hopefully PED has a few similar hedges in place ...

Parsley Energy to restructure hedge positions

Parsley Energy (PE +6.5%) says it is restructuring some of its existing 2020 hedge positions to provide additional protection in a $30-$35/bbl oil price environment by reducing certain short put prices.
The company says it also has moved aggressively to protect its 2021 cash flow by adding swap positions.
Parsley now expects net settlement gains of $400M and $300M million during 2020 and 2021, respectively, which would represent a nearly $400M increase in aggregate downside protection from its hedge position on March 4.
Earlier this week, Parsley unveiled plans to cut full-year development activity.
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