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Summary of Quarterly Financial Results (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Results (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