Stephanie Reed attributes her success to her team. “At Parsley, I’m proud to be part of a team that I believe in and trust. I can’t think of many achievements in my career that haven’t involved a team,” she says.
For her, it’s less about the job title and more about being in a position to positively influence strategy and overall outcomes. “I have learned through my experience in this industry that if you focus on doing the best job you can do, place the company’s interest above yourself and work to improve every day, the rest takes care of itself,” she says.
Reed oversaw the execution of more than two dozen trades across the core of the Midland Basin, following the integration of a $2.8 billion acquisition in 2017 over an 18-month period. The efforts added more than 5 million net lateral feet to the company’s horizontal inventory at zero capital outlay. “I am passionate about Parsley, this industry and fostering a company environment that can be agile and successfully respond to a challenging market,” she says.
She grabbed the opportunity to manage investor relations for Parsley Energy in 2015, despite being pushed out of her comfort zone. “Although it was a challenge and ran in parallel with pursuing an MBA degree and having my first child, it gave me a unique perspective into our business and the opportunity to see our company through an investor’s lens.”
Natural leader: Under her leadership, Reed has seen the company grow from less than a dozen to 500 employees. “As we’ve grown … I have recognized the need to encourage and empower additional leaders along the way to effectively engage and empower employees at all levels,” she says.
“My job is to provide my team direction and guidance, while removing barriers and breaking down hurdles, so they can execute and continue to drive value. Good leaders put ego aside and shine light on their teams and those around them,” she says.
“If there is one constant in our industry, it is change. You must be able to anticipate what’s around the corner and prepare for what’s next.”
Professional challenge: In early 2018, Reed was trusted with the responsibility of handling marketing efforts, an aspect of the business with which she had limited prior experience. This transition coincided with a unique time in the Permian Basin due to limited downstream takeaway for crude, residue and NGLs.
“It was an intense few months with a steep learning curve, but with the help of our incredible team and Jody Jordan, we were able to identify our risks and work to find solutions to guarantee flow assurance at a competitive price,” she says.
Industry outlook: “If there is one constant in our industry, it is change,” she says. “You must be able to anticipate what’s around the corner and prepare for what’s next.” Reed believes that the industry is full of opportunities and that working to produce energy that impacts lives for the better is “meaningful” work.
“It’s very fulfilling to empower a team, to be agile and responsive in an evolving industry and challenging market. I hope to influence the way our world perceives energy and to encourage the next generation to be innovative and provide energy solutions for the future,” she says.
Advice to young professionals: “There are times in your career when you have to take risks and be bold in your decisions. Say ‘yes’ to opportunities, even if it may be a stretch for you at the time. I’ve learned that if someone offers you an opportunity, it’s because they believe you can do it.”
Quotable: “This industry is something one can never fully master. There is always something to learn and always opportunities to improve.”