Tech Trends SaaS Helps Operator Streamline Data Software as a service technology stores data securely in the cloud to make information available online to users anytime no matter where they are located. By allowing managers to view complete data in one place, oil and gas companies can respond quicker and more effectively to changes and trends, ultimately equipping them to make more timely and better informed decisions. By Matt Gallagher and Stephen M. Haglund MIDLAND, TX.-These are exciting times for Parsley Energy LLC. The private Midland, Tx.-based company is entering its fourth year of existence and continues to experience rapid growth in its Permian Basin operations. Parsley Energy was founded in 2008 with 110 legacy wells in the Spraberry formation in the Permian Basin. The next year, the company kicked off a onerig drilling campaign in the Wolfberry play, commingling production from the Spraberry and Wolfcamp formations. The company now is running four rigs continuously in the Wolfberry trend. At the beginning of 2011, Parsley was managing 150 wells and its expansion into a midlevel operating company had brought great success and opportunity. However, the company's growth also had introduced operational and business challenges, particularly in how it was reporting and managing production data. The executive team reviewed procedures and began searching for opportunities that would streamline the organization's data reporting process. JANUARY 2012 161