Parsley Energy Inc. CEO Matt Gallagher is the epitome of a next generation oil and gas company executive. He’s young—shy of 40, sports a hipster beard and is attuned to the concerns of climate change. He’s reserved a red 2021 Ford Mustang Mach-E, the first Ford Motor Co. all-electric vehicle, for delivery later this year. He lives in Austin, Texas, which may not be an oil and gas headquartering trend but speaks to Gallagher’s environmental tastes.
But most importantly he heads a 12-year-old, $7 billion market cap company operating in the Permian Basin that is on the rise. Gallagher, who joined Parsley in 2010, took over as CEO in January 2019 and spent the past year transforming the company strategy from a growth model (which it had mastered) to a returns model as market sentiment for E&Ps underwent a polar shift. That revamp is now complete, with free cash flow achieved and a shareholder friendly dividend implemented in August.
Gallagher spoke with Oil and Gas Investor Feb. 21, a month after closing the Jagged Peak acquisition.