Parsley Energy, Inc. says that its Board of Directors has approved a capital budget of $225-$250 million for 2015, excluding any amounts that may be paid for acquisitions. The Company also provided preliminary operational results for the fourth quarter ended December 31, 2014 and announced that proved reserves increased 66% year-over-year to 90.9 MMBoe as of December 31, 2014.

In addition, Parsley announced that it acquired certain undeveloped acreage located adjacent to the Company's existing operating areas, primarily in northwest Reagan County, TX, for approximately $139 million.

Tags: Parsley Energy