In the Sweet Spot

Acreage in the Permian Basin constitutes one of the premier oil and gas assets in the world, and we have accumulated a substantial acreage portfolio in the sweet spots of both the Midland and Southern Delaware Basins.

The majority of our acreage offers “stacked pay” potential to develop oil and gas from several prospective zones. Our acreage benefits from a favorable combination of depth, thickness, thermal maturity, and organic content, which contributes to higher productivity, number of discrete target horizons, and resource potential.

Compared to other basins in North America, horizontal development in the Permian Basin is still in its infancy, and we believe there is ample opportunity for ongoing productivity enhancement as we optimize completion techniques, fine-tune target intervals, and test new strategies for reservoir stimulation.

Parsley's Midland Basin acreage is characterized by favorable thermal maturity for high oil content, sufficient depth to drive strong, pressure-fueled recovery rates, and ample thickness, with differentiated multi-target potential in Upton and Reagan Counties, in particular. At 800-900 feet thick across much of our acreage, our Wolfcamp A/B complex is among the thickest in the deep portion of the basin, supporting the potential for up to 60 wells per section in the Wolfcamp A/B complex alone.

Like our Midland Basin acreage, Parsley’s Southern Delaware acreage is characterized by favorable reservoir characteristics. Zonal testing indicates stacked pay potential from the Bone Spring through the Woodford, with a thick, geopressured Wolfcamp interval throughout. Mineral ownership enhances already compelling well economics on a significant portion of the acreage, which is positioned at the gateway to the basin, providing ample infrastructure and takeaway capacity.