Austin-based Parsley Energy, independent focused on Permian Basin, said last week in its quarterly financial report that it reactivated 2 rigs and 2 hydraulic fracturing spreads in July. Parsley’s 2020Q4 plans include stabilized activity of 4 or 5 drilling rigs and 1 or 2 frac spreads. The company operated 15 development rigs and 5 frac spreads in January and February before activity declined beginning in March; all new drilling and completion activity was suspended in May and June. Net oil production was curtailed by 20 percent in May and mostly restored in June. Net oil production in 2020Q2 decreased 11 percent from 2020Q1; total net production averaged 183,200 boed in 2020Q2. Matt Gallagher, president and CEO, said 2020Q2 “represented an unforgiving stress test for much of our industry.”