Austin energy company to scale back amid oil stock slump

One of Austin’s few publicly traded energy companies is scaling back operations as oil and gas stocks take a beating on Wall Street.

Austin-based Parsley Energy Inc. announced March 9 it has begun to reduce its development activity for the year. The exploration and production company is active in the Permian Basin of West Texas and Southeastern New Mexico.

A crash in the price of oil has rocked financial markets this week amid growing concerns about COVID-19, the disease caused by the new coronavirus.…

share:

more energy news

Send Us A Message