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Earthstone Energy, Inc.

Company Summary

Description

Earthstone Energy is a publicly traded (NYSEMKT:ESTE) oil and gas company based in the Woodlands, Texas. The company was formed in 2012 by Frank Lodzinski and his technical team, which over the past 20 years has an established track record of value creation at various public and private companies. Mr. Lodzinski previously managed and founded GeoResources (NASDAQ:GEOI), Cliffwood Oil & Gas and AROC, Inc.

Website

http://www.earthstoneenergy.com/

Operational Regions

  • Midland Basin
  • Permian Basin
  • Eagle Ford
  • Bakken
  • Wolfcamp
  • Lower Spraberry
  • Spraberry Trend

Financial Data:

AMEX:ESTE from Google Finance

Tickers:

  • ESTE - American Stock Exchange

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Recent news

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Investor Presentations

  • August 2019 Presentation
  • May 2019 Presentation (subscriber access)
  • March 2019 Corporate Presentation (subscriber access)
  • November 2018 Investor Presentation (subscriber access)
  • Sabalo Acquisition Presentation (subscriber access)
  • 2Q18 Earnings Presentation (subscriber access)
  • 4Q17 Earnings Presentation (subscriber access)
  • January 2018 Investor Presentation (subscriber access)
  • Investor Presentation - February 2017 (subscriber access)
  • November 2016 Investor Presentation (subscriber access)
  • Investor Presentation - November 2016 (subscriber access)
  • Enercom Presentation - August 2016 (subscriber access)
  • June 2016 Investor Presentation (subscriber access)

Company Transactions

Date: 6/28/2022
Type: Acquisition

BUYERS:
  • Earthstone Energy, Inc.
    • SELLERS:
  • Titus Oil & Gas Production II, LLC
  • Titus Oil & Gas Production, LLC
  • NGP Energy Capital
    • DETAILS:

    COST: 627 $MM

    VOLUMES: 31.8 MBOE/d

    ACRES: 7900 Acres

    NOTES:
    Earthstone Energy has signed a deal with Titus Oil & Gas to acquire the firm's New Mexico assets in the Northern Delaware Basin for $627 million. Titus is owned by NGP Energy Capital Management, and the deal includes $575 million in cash and 3.9MM shares of Earthstone Class A common stock. Closing is targeted for 3Q22.
    REGIONS:
  • Permian Basin
  • Delaware Basin

    • Date: 6/14/2021
    Type: Acquisition

    BUYERS:
  • Earthstone Energy, Inc.
    • SELLERS:
  • Titanium Exploration Partners, LLC
    • DETAILS:

    COST: 48 $MM

    VOLUMES: 1.15 MBOE/d

    NOTES:
    Earthstone Energy has signed multiple deals to acquire a package of Eagle Ford assets for $48 million in cash from four sellers. The largest pieces included working interests owned by Titanium Exploration Partners. Overall, the assets included 1,150 boe/d in production, of which 89% is oil. They also gained 3.4 MMboe in associated reserves. Earthstone already holds operatorship on the positions, so the deal expanded their working interests from 34% -> 96%.
    REGIONS:
  • Eagle Ford

    • Date: 4/1/2021
    Type: Acquisition

    BUYERS:
  • Earthstone Energy, Inc.
    • SELLERS:
  • Tracker Resources Development III
  • EnCap Investments L.P.
  • Sequel Energy Group, LLC
  • 1901 Partners Management LP
    • DETAILS:

    COST: 126.5 $MM

    VOLUMES: 7.8 MBOE/d

    ACRES: 20300 Acres

    NOTES:
    Earthstone Energy has signed a deal with several companies to buy 20,300 net acres in Irion County, 7.8 Mboe/d in production (21% oil) and 49 identified Wolfcamp drilling locations. The deal was signed with Tracker Resource Development III and an affiliate of Sequel Energy Group. Earthstone will pay $126.5 million, including $81.6 million in cash and 6.2 million shares of Class A stock. Closing is targeted for the third quarter of 2021.
    REGIONS:
  • Midland Basin

    • Date: 3/31/2021
    Type: Acquisition

    BUYERS:
  • Earthstone Energy, Inc.
    • SELLERS:
  • Independence Resources Management
    • DETAILS:

    COST: 185.9 $MM

    VOLUMES: 8.78 MBOE/d

    ACRES: 38500 Acres

    NOTES:
    Earthstone Energy has reached a deal to acquire privately-held Independence Resources Management for $185.9 million. Independence is backed by Warburg Pincus and the deal includes $135.2 million in cash and 12.7MM common shares valued at $50.8 million.
    REGIONS:
  • Permian Basin
  • Midland Basin

    • Date: 9/1/2018
    Type: Acquisition

    BUYERS:
  • Earthstone Energy, Inc.
    • DETAILS:
    NOTES:
    Earthstone Energy closed an acreage trade on September 1, 2018, with an undisclosed operator in the Midland Basin in Texas that sees them acquire 3,899 net operated acres in Reagan County, in exchange for 1,222 net non-operated acres in Glasscock County with an average working interest of 39% and $27.8 million in cash.
    REGIONS:
  • Midland Basin

    • Date: 12/15/2017
    Type: Acquisition

    SELLERS:
  • Earthstone Energy, Inc.
    • DETAILS:

    COST: 27 $MM

    NOTES:
    The non-operated assets and the sale is part of Earthstone's shift to a Midland Basin focus.
    REGIONS:
  • Bakken