Earthstone Ener Stock Price, News & Analysis

Earthstone Energy (NYSE: ESTE) has announced a strategic acquisition of Bighorn Permian Resources, with a total purchase price of $860 million, comprising $770 million in cash and 6.8 million shares of Class A common stock valued at $90 million. The acquisition will enhance Earthstone’s production capacity by approximately 70% and is projected to generate an Adjusted EBITDAX of about $940-980 million in 2022. The transaction is anticipated to close early in Q2 2022, as Earthstone refines its capital structure and aims for shareholder returns.

Earthstone Energy (NYSE: ESTE) announced that President and CEO, Robert J. Anderson, will participate in a fireside chat with Jeff Robertson of Water Tower Research on January 10, 2022, at 2:30 p.m. Eastern Time. The discussion will highlight Earthstone's growth through 2021 acquisitions, including the pending acquisition of assets from Chisholm Energy Holdings in the northern Delaware Basin of New Mexico. Interested investors can register for the event through Water Tower Research.

Earthstone Energy, Inc. (NYSE: ESTE) announced the acquisition of Chisholm Energy Holdings, LLC for approximately $604 million. The deal comprises $340 million in cash at closing, $70 million deferred cash, and 19.4 million shares of Earthstone's stock. The acquisition will enhance Earthstone's net production by 39%, Adjusted EBITDAX by 49%, and Free Cash Flow by 100% in 2022. Total pro forma production is anticipated to reach 44,000-48,000 Boepd. The deal is expected to close in Q1 2022.

Earthstone Energy reported strong third-quarter results for 2021, with a net income of $10.4 million ($0.20 per diluted share). Adjusted net income reached $30.7 million ($0.35 per share), and adjusted EBITDAX was $65.0 million. The company closed significant acquisitions, including the Foreland Acquisition, enhancing its production capabilities, which averaged 25,836 Boepd. For the year, Earthstone expects to generate positive free cash flow and has updated its guidance, anticipating fourth-quarter production between 28,500 and 29,500 Boe/d.

Earthstone Energy, Inc. (NYSE: ESTE) has completed its acquisition of assets in the Midland Basin from Foreland Investments LP for approximately $73.2 million. This deal includes $49.2 million in cash and 2.6 million shares of Earthstone's stock. The acquired assets are estimated to have $116.0 million in proved developed producing (PDP) reserves, contributing around 4,000 Boepd to Earthstone's production. This acquisition reflects Earthstone's strategy to enhance production and operational synergies in a favorable commodity price environment.

Earthstone Energy, Inc. (NYSE: ESTE) will host a conference call on November 4, 2021, at 12:00 p.m. Eastern to discuss its third quarter 2021 financial results and outlook. Key executives, including President Robert J. Anderson and CFO Mark Lumpkin, will present and participate in a Q&A session. The earnings press release will be issued before the call. Investors can join via phone or webcast. A replay will be available until November 18, 2021.

Earthstone operates in the Midland Basin and Eagle Ford Trend, focusing on growth in the energy sector.

Earthstone Energy (NYSE: ESTE) announced a definitive agreement to acquire operated assets in the Midland Basin in a transaction valued at approximately $73.2 million. The acquisition includes $49.2 million in cash and 2.6 million shares of Class A common stock, totaling $24.0 million. The acquired assets have an average daily production of 4,400 Boepd and projected Adjusted EBITDAX of $42 million. The deal, expected to close by mid-Q4 2021, aims to enhance Earthstone's production and cash flow with a favorable price-to-EBITDAX ratio of 1.7x.

Earthstone Energy, Inc. (NYSE: ESTE) announced an amendment to its senior secured revolving credit facility, increasing the borrowing base from $550 million to $650 million. As of August 31, 2021, the company had $1.2 million in cash and $286.6 million of long-term debt, resulting in a total liquidity of approximately $364.6 million. The company attributed this increase to successful drilling activities and recent Eagle Ford acquisitions, aiming to build shareholder value through low-cost, high-margin assets.

Earthstone Energy (NYSE: ESTE) reported its financial results for Q2 2021, highlighting total revenues of $89.7 million, significantly up from $21.7 million in Q2 2020. The company recorded a net loss of $15.8 million but reported an adjusted net income of $20.3 million. Average daily production reached 22,716 Boepd, and free cash flow was $28.4 million. Earthstone successfully closed key acquisitions, enhancing production and operational scale, with an aim to boost efficiency and profitability. The company also reported a total liquidity of approximately $249.5 million as of July 20, 2021.