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Earthstone Energy (NYSE: ESTE) is set to participate in a fireside chat on April 12, 2023, at 12:00 p.m. ET. The discussion will feature President and CEO, Robert J. Anderson, alongside Jeff Robertson of Water Tower Research. This event presents a valuable opportunity for investors to gain insights directly from Earthstone's leadership.
Interested investors can register for the live chat by visiting the link provided: Register Here.
Earthstone is focused on the acquisition, development, and operation of oil and natural gas properties, primarily in the Permian Basin region.
Earthstone Energy (NYSE: ESTE) announced an amendment to its senior secured revolving credit facility, increasing elected commitments from $1.2 billion to $1.4 billion. The $250 million term loan tranche has been converted into an elected revolving commitment, with the borrowing base redetermined at $1.65 billion. As of March 31, 2023, Earthstone had approximately $452 million drawn against the facility, down from $520 million at the end of 2022, leaving $948 million available. The facility's maturity remains in June 2027. This amendment reflects the company's financial strength and is expected to enhance future flexibility and optionality for debt reduction.
Earthstone Energy (NYSE: ESTE) has reported significant financial results for Q4 and the year ended December 31, 2022. Notable highlights include a net income of $185.2 million for Q4 and $650.6 million for the full year. Adjusted EBITDAX increased by 296% to $338 million in Q4 and 347% to $1.1 billion year-over-year. The company generated $1 billion in operating cash flow and $508.5 million in free cash flow. With an average daily production of 104,766 Boepd, up 246% YoY, Earthstone also completed three large acquisitions totaling $2 billion in 2022, while reducing debt by $121.6 million. 2023 guidance includes a capital budget of $725-$775 million, with production estimated between 96,000 to 104,000 Boepd.