Parsley now plans to spend between $460 and $510 million, compared to $410 to $460 million previously.
The company expects to complete 80 to 90 gross horizontal wells in 2016, up from the previous estimates of 65 to 75 gross horizontal wells. The company attributed the increase to efficiency gains.
In the second quarter, Parsley spud 21 and completed 25 gross operated horizontal wells with an average working interest of 93%.
