Parsley Energy has been one of the fastest growing oil producers but it outspent cash flows by more than $650 million last year.
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Parsley will reduce drilling activity, cut CapEx by 18% in 2019, and will deliver just 18% to 19% production growth, down from more than 60% last year. It will significantly reduce its cash flow deficit in 2019 and could even hit positive free cash flows later this year. The company has a strong balance sheet with a below-average debt-to-equity ratio and has no significant near-term maturities. Read full article at Seeking Alpha.
