Workforce Programs

Parsley’s talented employees are the essence of our unique identity and capabilities. We value the hard work and dedication of our people, which is why we take measures to protect their safety, provide them with comprehensive benefits, and give them ample opportunities for personal and professional growth.

Occupational Health and Safety

The safety of our employees is of paramount importance to Parsley. We diligently work to protect the safety of our field employees and contractors who are subject to increased risks of injury while engaged in exploration and production activities. A lack of accountability and emphasis on safety would put at risk the well-being of our workforce as well as our communities of operation.

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Safety Management

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Covid-19 Preparedness
and response activities

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Safety Training

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Safety Performance

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Combined Contractor & Employee Incident Rates

Total Recordable Incident Rate (TRIR): Total number of recordable cases multiplied by 200,000 divided by the total hours worked by contractors and employees during the year covered.

Lost Time Incident Rate (LTIR): Total number of lost time cases multiplied by 200,000 divided by the total hours worked by contractors and employees during the year covered.

Incident Chart

Safety Management 103-2, 403-1, 403-2, 403-4 | EM-EP-320a.2

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The foundation of our safety management system is formed by leadership commitment and employee involvement. Our Chief Operating Officer (COO) oversees Parsley’s Health, Safety, and Environmental (HSE) performance. Our HSE Director manages our daily HSE practices and leads a team of specialized field employees who evaluate and implement safety standards and procedures to ensure HSE processes are appropriately tailored to our operations. Our COO and HSE Director approve any new or revised safety standards.

We are in the process of developing a safety management system framework across our operations aligned with the International Organization for Standardization (ISO 45001). We take a hands-on approach to safety management to exercise control and accountability over our HSE practices. We have continued to make advancements in recent years by dedicating more personnel, improving our safety reporting capabilities, and implementing more advanced management systems and training.

Safety is the responsibility of the Company and its employees, and we look to all employees for ideas and opportunities to enhance our safety practices. Employees demonstrate involvement daily through safety observation interactions with coworkers, field risk assessment job planning, and identification of near-miss events. We place a strong emphasis on reporting safety incidents and strive to identify leading indicators through our behavior-based safety program. Under this program, employees monitor for unsafe actions or working conditions and are empowered to engage and correct any actions or conditions that they deem unsafe. Our goal is to identify and correct unsafe acts or conditions before an incident occurs.

In March 2019, we implemented a smartphone application that allows all field employees to enter safety observations and report unsafe events in real-time. Since implementing this technology, Parsley has recorded hundreds of observations per month. These observations are keeping safety behaviors front-of-mind for our workforce. The HSE team continues to leverage its data management tool, Intelex, to regularly report Parsley’s safety progress to senior leadership.

COVID-19 Preparedness and Response Activities 103-2, 403-1, 403-2, 403-4 | EM-EP-320a.2

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In early 2020, Parsley was able to respond quickly to the global COVID-19 pandemic. We leveraged our existing emergency response plan to develop a continuity of operations plan. This new plan helped ensure the ongoing safety of our employees and communities while continuing Parsley’s operations without significant disruption. We also established a crisis management team (CMT)—led by our Vice President, Security and Risk Management—that met every day at the beginning of the crisis and then weekly when our processes and procedures were in place. The CMT established an incident command system structure and emergency response portal, and monitored issues impacting safety and business continuity of remote work and critical infrastructure functions.

We developed a continuity of operations plan to ensure the continued safety of our employees and communities during the COVID-19 pandemic.

In March, we conducted remote work drills across our company, and ordered all non-essential Parsley personnel to work from home before “stay at home” orders went into effect. We then published “Pandemic Employee Response Standards” and distributed them companywide via daily email communications. This daily briefing also provided employees with emergency response updates, as well as the latest news and best practices for maintaining social distancing and other safe behaviors to limit their potential for exposure.

As of the date of this report, Parsley has conducted audits of 45 COVID-19 emergency response and work plans submitted by contractors for purposes of determining whether those plans were consistent with CDC guidelines related to awareness, hygiene, and social distancing measures. We have provided field employees with recommended personal protective equipment, and have partnered with a local chemical provider, True Chem, to mass produce hand sanitizer to donate to local hospitals and first responders. Through our “Parsley Cares” corporate fund, we have contributed approximately $30,000 to local schools, hospitals, and food pantries in response to the COVID-19 crisis.

Safety Training

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We train all field employees on our safety practices upon hiring, and any employees who have the potential to work in the field must complete a field safety orientation.

The Permian Basin has a driving fatality rate significantly higher than the national average. We have a responsibility to our employees and communities of operation to do our part to improve and promote safe driving habits. We provide all field-based employees who drive Company vehicles with training on safe driving practices and defensive driving techniques using the Smith System®. All Parsley vehicles have equipment and software installed that monitors employee driving habits. In 2019, our HSE and IT teams developed a driver performance dashboard that displays driving behavioral data such as vehicle speed and wearing of seat belts. This data is shared with drivers and their supervisors monthly to promote positive driving behaviors. These measures have contributed to a significant decrease in preventable vehicle accidents (PVA) across our fleet. Our PVA rate has decreased from 2.43 per million miles driven in 2018 to 0.68 per million miles driven in 2019, which is a 72% year-over-year decrease.

Parsley requires our drilling and completions providers to give proper safety training to contractors, and we conduct monthly verification audits of their safety practices. We also require our drilling and completions contractors to provide proper safety training to their workers who act as field supervisors. Additionally, we utilize a training matrix to ensure we provide the proper level of safety training across all Parsley job types and levels, and we require employees to complete the trainings associated with their respective job type and level.

All employees engaged in work activities considered to be life-critical tasks as defined by the International Association of Oil & Gas Producers’ Life-Saving Rules receive hands-on training. To ensure knowledge retention for these life-critical tasks, our HSE team conducts routine training assessments. On average, Parsley has devoted approximately 34 hours of safety training per field employee per year during 2019 (this includes full-time and short-service employees).

Safety Performance

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We incorporate safety performance as a factor in determining the target bonus pool for employees, which also ties to overall compensation. Parsley’s Board of Directors reviews safety performance and statistics on a quarterly and annual basis, and our HSE performance directly impacts executive compensation and short-term bonus amounts (as outlined in our Proxy Statement).

We benchmark our safety performance against peers in the Permian Basin Petroleum Association for preventable vehicle accident rate and spill rate, and we participate in the American Exploration & Production Council’s Safety Benchmarking Survey. We also have internal safety metrics and stretch goals that we strive to achieve related to total recordable injury rate (TRIR) and lost time injury rate (LTIR) for both employees and contractors.

Parsley’s combined contractor and employee LTIR has decreased by approximately 73.3% from 2017 to 2019 and Parsley’s combined contractor and employee TRIR has decreased by approximately 29% from 2018 to 2019.

Talent Management 103-2

Parsley strives to attract, engage, develop, and retain a talented workforce. We operate in a competitive market and we often compete with other oil and natural gas companies for the same professionals. Our corporate headquarters in Austin, Texas, allows us to attract individuals who desire to live and work in a diverse city. Regardless of where our employees reside, we offer the same attractive benefits across all of our locations to meet their needs.

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Benefits

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Performance
Management

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Training & Development

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Culture & Employee
Engagement

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Benefits 401-2

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Parsley offers a competitive benefits package to its employees and their eligible dependents for medical, dental, and vision coverage, and 100% paid premiums for full-time employees for critical illness, short- and long-term disability, life insurance, and AD&D insurance benefits. In 2019, we significantly increased our employer-paid life insurance and enhanced dental and vision benefits. We also offer voluntary life insurance, health savings accounts, and health plans with employee-paid premium options. In addition, our highly competitive benefits package includes 401(k) employer match, a minimum of 15 days of paid time off, and parental leave for all employees.

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Parsley’s Human Resources (HR) Department periodically reviews all positions and experience relative to job description. This effort has resulted in adjustments to compensation and title for some employees to better align with updated job responsibilities and associated experience. We conduct one formal employee review per year and use informal touchpoints throughout the year to evaluate employee engagement and discuss any concerns or challenges employees face in their current role.

Parsley funds a target bonus pool that takes into account individual performance and the Company’s performance on various metrics. Quantitative metrics account for 80% of the target bonus amount, while qualitative metrics such as health, safety, environment, strategic initiatives, and talent development account for the remaining 20%.

Training & Development 404-2

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Employee career development, progression, and training is another important facet of our talent management program. We allocate discretionary funds to our employees so that they can keep certifications and licenses current and drive skills enhancement, and we value full-cycle recruiting for all eligible job candidates.

We partner with Skillsoft, a global provider of high-quality, innovative, cloud-based learning and performance support resources, to provide mandatory training on important topics such as diversity and inclusion and harassment prevention. We also partner with SafetySkills for field-specific safety training. Since our initial rollout in 2019, we have added manager-specific trainings such as effective team building.

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Parsley is recognized in our industry for our fun and inclusive culture and our open-door policy. Our corporate Fun Committee is responsible for planning and executing social activities for employees both in and out of the office, and we empower each department to foster its own unique culture.

Women represent more than 20% of our senior management team.

When many of our employees began working remotely during the global COVID-19 pandemic, we instituted a daily email named the “Parsley Daily Post” that was sent to all employees to foster employee engagement. These daily emails communicated pertinent information regarding Parsley’s response to the health crisis, including plans to return to work. The emails also included comical messages, songs, pop culture trivia questions, and other lighthearted content to generate conversation amongst employees during this challenging time.

Parsley also fosters employee engagement through community contributions via YourCause, which uses a philanthropic and corporate social responsibility platform called CSRconnect to help companies manage their employee giving programs. Managers and supervisors can allocate funds from the “Parsley Cares” corporate fund to employees to donate to the charity of their choice. Additionally, Parsley encourages employees to organize and facilitate philanthropic events in their own communities. For example, since launching the program in October 2019, Parsley employees have participated in 156 company culture and philanthropic events. These events ranged from tutoring at local elementary schools to participating in the office-wide Waffle Wednesdays.

Parsley works to promote diversity and inclusion within our workforce, from age and experience to gender and ethnicity. We know that diversity of thought, background, and interest contributes to a more innovative workforce. More than 20% of our senior management team is comprised of women, and approximately 27% of our Board of Directors is diverse based on gender and ethnicity.