Earthstone Energy, Inc. (NYSE: ESTE) Company Overview The Woodlands, Texas-based E&P company is focused on development and production of oil and natural gas with current operations in the Midland Basin (~26,700 core net acres) and the Eagle Ford (~16,000 core net acres). The company has 195 gross producing wells and reported almost 10,000 BOEPD production in Q1. Summary Q1-2018 Revenue:
Midland Basin operator Earthstone Energy, Inc. (ticker: ESTE) has initiated three executive promotions. Robert J. Anderson has been promoted to president of the company, effective immediately. Anderson has served as Earthstone’s EVP Corporate Development and Engineering since 2014. Anderson, a petroleum engineer, served in a similar capacity with Oak Valley Resources, LLC from March 2013 until the closing of its
Earthstone Energy, Inc. (ticker: ESTE) will present at the EnerCom Dallas investment conference Feb. 21-22, 2018 at the Tower Club in downtown Dallas. Earthstone Energy is an independent company that develops and operates oil and gas properties primarily in the Midland Basin of West Texas, the Eagle Ford trend of south Texas and the Williston Basin of North Dakota. The
Early today Earthstone Energy, Inc. (Ticker: ESTE) completed the sale of its Bakken assets. According to the company’s press release, the assets were sold to an unaffiliated party for about $27 million in cash. The effective date of the transaction is December 1, 2017. Earthstone Energy plans to use the proceeds from this transaction to pay down debt under its
Earthstone Energy, Inc. (ticker: ESTE) said that its borrowing base under its senior secured revolving credit facility has been increased from $150 to $185 million in connection with its regularly scheduled fall redetermination. The $185 million borrowing base will not be reduced upon closing of the company’s previously announced agreement to sell its Bakken assets. Executive VP and CFO Mark
Earthstone Energy, Inc. (ticker: ESTE) announced today that it entered into an agreement to sell its Bakken assets for approximately $27 million in cash to an unaffiliated party. The effective date will be December 1, 2017 and is expected to close by year-end 2017. According to an Earthstone investor presentation, Earthstone’s Bakken/Three Forks assets include 5,900 net core acres predominantly
Earthstone Energy Breakout Notes Frank A. Lodzinski, president and CEO of Earthstone Energy Inc., (ticker: ESTE) presented today at EnerCom’s The Oil & Gas Conference® 22. Earthstone Energy produces from three prolific fields, the Eagle Ford, Bakken, and Permian. Earthstone has focused much of its future development on its newer Midland/Permian assets which makes up the majority of its company-wide
Capitalizing on the Midland acquisition Midland-Eagle Ford-Bakken producer Earthstone Energy (ticker: ESTE) isn’t slowing down. With 66.1 MMBOE in reported proven reserves and 9,515 BOEPD average production in 2017, Earthstone is moving forward on a growth plan that’s being fueled by five Permian wells in progress as of May. Earthstone completed a business combination with Bold Energy III LLC in
Moving from Defense to Offense: industry learned how to work effectively, how to innovate during the downturn, now let’s produce The presentation room at the Tower Club for EnerCom Dallas was overflowing Wednesday morning by the time WPX Energy (ticker: WPX) Chairman and CEO Rick Muncrief took the microphone a 8:00 a.m. and laid out his company’s stark turnaround. In his presentation
EarthStone Energy plans to grow production 200% to 400% on acquired Midland assets in 2017 With 2016 in the books and many companies reporting their year-end numbers, markets are beginning to look forward to the year ahead. A stable oil price and greatly improved drilling efficiencies have led many to have a more optimistic attitude about 2017, particularly about companies
Frank Lodzinski, president and CEO of Earthstone Energy, Inc. (NYSE MKT: ESTE), presented today at EnerCom’s The Oil & Gas Conference® 20. Earthstone Energy, Inc. is a growth-oriented independent oil and gas exploration and production company engaged in the development and acquisition of oil and gas reserves through an active and diversified program that includes the acquisition, drilling and development of
In its yearend earnings release, Earthstone Energy (ticker: ESTE) reported average daily production of 2,416 BOEPD, a 20% increase over 2013; it reported oil, natural gas, and NGL sales of $47.6 million, a 61% increase over 2013, Adjusted EBITDAX of $28.5 million, representing a 121% increase over 2013, and PV-10 of $344.8 million, a 175% increase from 2013. Frank A. Lodzinski, President
