Viking Global Takes Parsley Energy Stake ~ market folly

Friday, October 27, 2017

Viking Global Takes Parsley Energy Stake

Andreas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC regarding shares of Parsley Energy (PE).  Per the filing, Viking now owns 7.2% of the company with over 17.8 million shares.

This is a newly disclosed equity stake as they did not show ownership on their last 13F filing as of the end of the second quarter.  This latest filing indicates activity as of October 16th.

We also just posted other recent portfolio activity from Viking here.

Per Google Finance, Parsley Energy is "a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company's properties are primarily located in the Midland and Delaware Basins, where it focuses on horizontal development drilling and target various stacked pay intervals in the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline) and Atoka shales. As of December 31, 2016, it had an average working interest of 87% in 166 gross (146.7 net) horizontal wells, of which 151 gross (132.4 net) are in the Midland Basin. As of December 31, 2016, the Company operated seven horizontal rigs and three vertical drilling rigs."

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