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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES        
Oil sales $ 178,066 $ 91,129 $ 347,811 $ 143,160
Natural gas sales 12,983 5,834 25,450 11,377
Natural gas liquids sales 20,336 9,347 37,749 14,041
Other 2,292 562 3,525 782
Total revenues 213,677 106,872 414,535 169,360
OPERATING EXPENSES        
Lease operating expenses 29,631 14,204 47,258 28,102
Production and ad valorem taxes 11,397 6,407 22,559 10,602
Depreciation, depletion and amortization 83,315 55,988 152,285 105,372
General and administrative expenses (including stock-based compensation of $5,251 and $3,391 for the three months ended June 30, 2017 and 2016 and $9,460 and $6,150 for the six months ended June 30, 2017 and 2016) 31,761 17,307 55,803 36,606
Exploration costs 2,442 8,978 5,205 9,666
Acquisition costs 7,176 486 8,520 486
Accretion of asset retirement obligations 193 215 329 385
Other operating expenses 2,503 1,651 4,786 2,547
Total operating expenses 168,418 105,236 296,745 193,766
OPERATING INCOME (LOSS) 45,259 1,636 117,790 (24,406)
OTHER INCOME (EXPENSE)        
Interest expense, net (20,586) (12,199) (37,551) (23,393)
Loss on sale of property 0 (469) 0 (119)
Loss on early extinguishment of debt 0 0 (3,891) 0
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net 43,514 (27,304) 68,130 (25,216)
Change in TRA liability 0 0 (20,549) 0
Other (expense) income (177) (70) 773 (531)
Total other income (expense), net 22,751 (40,042) 6,912 (49,259)
INCOME (LOSS) BEFORE INCOME TAXES 68,010 (38,406) 124,702 (73,665)
INCOME TAX (EXPENSE) BENEFIT (12,216) 10,918 (30,618) 20,486
NET INCOME (LOSS) 55,794 (27,488) 94,084 (53,179)
LESS: NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS (15,048) 6,111 (23,896) 12,448
NET INCOME (LOSS) ATTRIBUTABLE TO PARSLEY ENERGY, INC. STOCKHOLDERS $ 40,746 $ (21,377) $ 70,188 $ (40,731)
Net income (loss) per common share:        
Basic (in dollars per share) $ 0.17 $ (0.13) $ 0.30 $ (0.28)
Diluted (in dollars per share) $ 0.17 $ (0.13) $ 0.30 $ (0.28)
Weighted average common shares outstanding:        
Basic (in shares) 245,698 158,662 233,255 147,313
Diluted (in shares) 246,792 158,662 234,315 147,313