MIDLAND, Texas & ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“Priority”), a Texas-based leading independent energy management and consulting services firm, announced today that it has successfully completed the development and energization of a new private electrical system for Parsley Energy, Inc. (“Parsley”) that will serve to power Parsley Southern Delaware Basin assets in Pecos and Reeves County for years to come. The system consists of a new 50/83 MVA electrical high voltage (“EHV”) substation and 33-circuit miles of primary distribution.
Priority has been providing energy management and consulting services to Parsley since the company was formed in 2008. In July 2016, Parsley entered into a 10-year agreement with Priority for energy services that included (1) full turnkey engineering, procurement and construction services for development of the Parsley System, (2) asset management services for the ongoing operation and maintenance of the Parsley System, and (3) supply side management services to procure and manage the competitive retail electricity supply to be used by the Parsley System.
The EHV substation has a base rated capacity of 50 MVA, capable of serving up to 83 MVA of power requirements, equivalent to serving approximately 39,000 residential homes per year. Four primary distribution feeders totaling 33-circuit miles exit the EHV substation and extend throughout Parsley’s Southern Delaware Basin acreage to power oil and gas production.
“Securing adequate electric delivery capacity and supply for our operations in a timely and cost effective manner is critical to our success,” said Paul Treadwell, Senior Vice President of Production Operations for Parsley. “We have trusted in Priority Power since our beginning, and nearly 10 years later, they have continued to deliver critical services to us with high quality.”
“We are honored to have been a small part of Parsley’s growth and success through the services we provide to them,” said Pat Ennis, founding principal of Priority. “By expanding our services to include energy infrastructure, we are positioned to provide Parsley with comprehensive energy services from the grid to the well.”
About Priority Power Management
Priority Power Management, LLC (www.PriorityPower.net) is a leading Texas-based independent energy management and consulting services firm to large commercial, industrial and government customers. Priority provides unbiased and objective energy management services in the areas of energy information, supply and risk management, demand-side management and energy infrastructure solutions. Since its establishment in 2001, Priority Power Management has grown to procure and manage approximately $1 billion of annual energy spend on behalf of clients from its offices in Midland/Odessa, Dallas/Fort Worth, Houston and Abilene.
About Parsley Energy, Inc.
Parsley Energy, Inc. is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin in West Texas. For more information, visit the Company's website at www.parsleyenergy.com.