Earthstone Ener Stock Price, News & Analysis

Earthstone Energy (NYSE: ESTE) announced its participation in several upcoming investment conferences. Key events include the Credit Suisse Vail Summit from February 27 to March 1, 2023, and the Raymond James Institutional Investors Conference on March 6, 2023. The company will also attend the J.P. Morgan Global High Yield & Leveraged Finance Conference on the same day. Other notable conferences include the Mizuho Energy Summit and Roth Conference from March 13-14, 2023, and the Piper Sandler Energy Conference on March 21, 2023. Earthstone aims to provide supplemental materials on its website for these presentations.

Earthstone Energy (NYSE: ESTE) reported a significant operational update for Q4 2022. Average daily production surged by 246% year-over-year, reaching 104,766 barrels of oil equivalent per day. The company achieved full-year production growth of 215%, totaling approximately 78,167 Boepd. Proved reserves increased by 149% to 367.9 million barrels of oil equivalent, with a PV-10 value of $7.8 billion. Earthstone's capital expenditures for the full year reached $530.6 million. For 2023, the company plans a capital budget of $725-$775 million, targeting a production range of 96,000 - 104,000 Boepd.

Earthstone Energy (NYSE: ESTE) will participate in the Goldman Sachs Global Energy and Clean Technology Conference in Miami, Florida, from January 5-6, 2023. During this event, Earthstone’s management will hold one-on-one meetings with investors. The company plans to use its existing presentation on its website as supplemental materials for attendees. Earthstone Energy is focused on the development and operation of oil and natural gas properties, primarily in the Permian Basin of west Texas and New Mexico.

Earthstone Energy (NYSE: ESTE) reported strong financial results for Q3 2022, with a net income of $211.5 million ($1.94 per share) and adjusted EBITDAX of $345.8 million, up 15% from Q2 2022. The company achieved record average net production of 94,329 Boepd, a 22% increase from the previous quarter. Earthstone closed the Titus Acquisition, which bolstered production and cash flow. For Q4 2022, it raised production guidance to 98,000 - 102,000 Boepd and anticipates capital expenditures of $170-185 million, reflecting a focus on capital efficiency and operational improvements.

Earthstone Energy, Inc. (NYSE: ESTE) will host a conference call on November 3, 2022, at 1:00 p.m. Eastern to discuss its third quarter 2022 financial results and outlook for Q4 2022. The call will feature remarks from CEO Robert J. Anderson and other executives, followed by a Q&A session. An earnings press release for the period ending September 30, 2022 will be filed prior to the call. Investors can join the call via telephone or webcast. A replay will be available until November 17, 2022.

Earthstone Energy, Inc. (NYSE: ESTE) announced the purchase of 3,000,000 shares of its Class A Common Stock for approximately $44 million from Warburg Pincus. The repurchase aims to enhance shareholder value. Concurrently, Warburg Pincus sold 3,750,000 shares under Rule 144, resulting in Warburg retaining about 12.9 million shares, or 9.3% of total outstanding shares. Post-transactions, Earthstone's total outstanding shares are 139.7 million.

Earthstone Energy, Inc. (NYSE: ESTE) has completed the acquisition of nitrogen oil and gas assets from Titus Oil & Gas Production for $575 million in cash and approximately 3.9 million shares. This strategic move enhances Earthstone's operations in the northern Delaware Basin, increasing production towards 100,000 Boepd and adding valuable drilling locations. Concurrently, Earthstone amended its senior secured credit facility, raising the borrowing base from $1.4 billion to $1.7 billion. Management aims to leverage this acquisition for long-term growth and shareholder value creation.

Earthstone Energy (NYSE: ESTE) reported robust second quarter results for 2022, highlighting a net income of $144.9 million or $1.46 per diluted share. Average daily production increased by 117% to 77,125 Boepd, contributing to an adjusted EBITDAX of $300.9 million, a 144% rise from Q1 2022. The company executed significant acquisitions and anticipates the Titus Acquisition to close in mid-August, expecting a production spike to nearly 100,000 Boepd. Updated capex guidance for 2022 stands at $502-527 million, reflecting continued growth and operational efficiency.

Earthstone Energy, Inc. (NYSE: ESTE) has announced a conference call scheduled for August 5, 2022 at 10:00 a.m. Eastern to discuss its Q2 2022 financial results and future outlook. During the call, remarks will be made by executives including President Robert J. Anderson and Chief Financial Officer Mark Lumpkin, Jr. Investors can participate via phone or through a webcast. A replay will be available until August 19, 2022. Earthstone focuses on operations in the Permian Basin.