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Summary of Quarterly Financial Results (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Results (Unaudited) SUMMARY OF QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The Company’s unaudited quarterly financial data for the years ended December 31, 2019 and 2018 is summarized as follows:
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
(in thousands, except per share amounts)
2019
 
 
 
 
 
 
 
Revenues
$
427,671

 
$
498,541

 
$
510,151

 
$
522,451

Operating income
$
116,547

 
$
180,837

 
$
153,041

 
$
86,845

Income tax benefit (expense)
$
7,790

 
$
(32,625
)
 
$
(34,953
)
 
$
(1,649
)
Net (loss) income
$
(28,003
)
 
$
134,994

 
$
139,600

 
$
(36,173
)
Net (loss) income attributable to noncontrolling interests
$
(3,939
)
 
$
19,059

 
$
19,890

 
$
196

Net (loss) income attributable to Parsley Energy, Inc. stockholders
$
(24,064
)
 
$
115,935

 
$
119,710

 
$
(36,369
)
Net (loss) income per common share:
 
 
 
 
 
 
 
Basic
$
(0.09
)
 
$
0.41

 
$
0.43

 
$
(0.13
)
Diluted
$
(0.09
)
 
$
0.41

 
$
0.43

 
$
(0.13
)
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
Revenues
$
392,741

 
$
467,788

 
$
511,022

 
$
454,880

Operating income
$
169,207

 
$
215,505

 
$
220,992

 
$
22,171

Income tax expense
$
(23,325
)
 
$
(33,243
)
 
$
(32,454
)
 
$
(16,453
)
Net income
$
105,463

 
$
140,958

 
$
134,149

 
$
65,399

Net income attributable to noncontrolling interests
$
22,573

 
$
21,803

 
$
20,840

 
$
11,626

Net income attributable to Parsley Energy, Inc. stockholders
$
82,890

 
$
119,155

 
$
113,309

 
$
53,773

Net income per common share:
 
 
 
 
 
 
 
Basic
$
0.32

 
$
0.44

 
$
0.41

 
$
0.19

Diluted
$
0.32

 
$
0.44

 
$
0.41

 
$
0.19