Parsley Energy, Inc. is engaged in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties located primarily in the Permian Basin region of West Texas. The company primarily holds working interests in the Delaware Basin, as well as in 530 gross producing wells located in the Midland Basin. As of December 31, 2013, it leased or acquired 98,656 net acres, including 76,356 net acres located in the Midland Basin; and 22,300 net acres located in the Delaware Basin. Parsley Energy, Inc. also had an estimated proved oil and natural gas reserves were 54.8 million barrels of oil equivalent. The company was founded in 2008 and is headquartered in Midland, Texas. Parsley Energy, Inc. is a subsidiary of Parsley Energy, LLC.