Parsley Energy Inc. on Aug. 7 reported $106.4 million, or 39 cents per share, in adjusted net income for the second quarter, compared to $12.5 million, or 5 cents per share, in the second quarter a year ago.
The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was 39 cents per share.
Net income attributable to stockholders was noted at $119.2 million, compared to $40.7 million in the prior-year period. The company reported revenue of $467.8 million in the second quarter, compared to $213.7 million a year earlier.
Total production was pegged at 107,813 barrels of oil equivalent per day in the second quarter, compared to 64,725 boe/d in the second quarter a year ago.
The firm also raised its production guidance for the year from the previous range of 98,000 boe/d to 108,000 boe/d to a new one spanning 106,000 boe/d to 111,000 boe/d. The company also raised its capital budget from $1.35 billion to $1.55 billion to a new range of $1.65 billion to $1.75 billion, to reflect the additional net wells it plans to put into production over the year.