Earthstone Energy

Earthstone Energy, Inc. is a growth-oriented independent oil and gas company. The firm is engaged in the acquisition and development of oil and gas reserves through activities that include drilling and development of undeveloped leases, as well as asset and corporate acquisitions and mergers. It also focuses on the Midland Basin in West Texas, the Eagle Ford Trend in South Texas and the Delaware Basin in New Mexico. The company was founded on July 7, 1969 and is headquartered in The Woodlands, TX.

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Earthstone Energy excels in Q4 2022, eyes growth and debt reduction

Earthstone Energy's Q4 2022 performance reflects strong operational and financial achievements, with notable production and reserve growth alongside robust financial metrics.
The company's strategic initiatives, including shareholder returns, debt reduction, and planned investments, position it well for future growth and value creation.
While facing challenges in debt management and acquisition integration, Earthstone's focus on operational excellence and financial discipline presents opportunities for sustained success.

Earthstone Energy excels in Q1, eyes acquisitions and risk management

Earthstone Energy's Q1 2023 earnings call highlighted strong operational and financial performance, strategic focus on debt reduction, and proactive risk management through hedging. While facing challenges in Q2 production and LOE, the company is optimistic about opportunities for growth through acquisitions and efficient capital investments.

Earthstone Energy excels in Q2, eyes growth through acquisitions

Earthstone Energy delivered strong financial and operational performance in Q2 2023, driven by record production levels and strategic acquisitions.
The company's focus on cost management, operational excellence, and sustainability underscores its commitment to long-term value creation and growth.
Challenges lie in optimizing valuation, managing costs effectively, and executing the Novo acquisition for future growth opportunities.
Opportunities in sustainability, infrastructure flexibility, asset development, and shareholder value enhancement position Earthstone Energy for continued success.

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Earthstone Energy, an oil and natural gas development and production company operates in the up-stream segment of the oil and natural gas industry in the United States. Its asset portfolio includes the Midland Basin of west Texas and the Eagle Ford trend of south Texas.

Permian Resources Corp

MIDLAND, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that it has completed its acquisition of Earthstone Energy, Inc. (“Earthstone”) (NYSE: ESTE). The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023. James Walter, Co-CEO of Permian Resources, commented, “We are excited to complete this transaction and welcome the Earthstone team to Permian.

Permian Resources Completes Acquisition of Earthstone Energy

THE WOODLANDS, Texas, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three and nine months ended September 30, 2023.

Earthstone Energy, Inc. Reports 2023 Third Quarter and Year-to-Date Financial Results

Earthstone Energy (ESTE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Earthstone Energy (ESTE) Q3 Earnings Expected to Decline

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy Earthstone Energy (ESTE) Stock?

THE WOODLANDS, Texas, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced that its Board of Directors declared a cash dividend of $0.1446 per share of Class A and Class B common stock. The dividend is payable on November 6, 2023, to shareholders of record as of October 31, 2023 who hold their shares through the closing of Earthstone's previously announced merger with Permian Resources Corporation (NYSE: PR) (“Permian Resources”).

Earthstone Declares Cash Dividend

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Wall Street experienced a notable rebound as the Standard & Poor's 500 index surged by 0.8%, recouping losses from the previous day and indicating renewed investor confidence. The Dow Jones industrial average also made a modest gain, hinting at a potential recovery after recent stagnation.

Blank Spaces: 3 Stocks That Have Room to Grow in the Future

THE WOODLANDS, Texas, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), with respect to the previously-announced agreement for Permian Resources Corporation (NYSE: PR) (“Permian Resources”) to acquire all outstanding shares of Earthstone at an exchange ratio of 1.446 shares of Permian Resources for each Earthstone share.

Earthstone Announces Expiration of Hart-Scott-Rodino Act Waiting Period in Connection with Proposed Transaction

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Earthstone Energy, Inc. (NYSE: ESTE) to Permian Resources Corporation (NYSE: PR). Under the terms of the proposed transaction, shareholders of Earthstone will receive 1.446 shares of Permian for each share of Earthstone that they own. KSF is seeking to determine whether this consideration and the process that.

EARTHSTONE ENERGY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Earthstone Energy, Inc. - ESTE

Are Investors Undervaluing Earthstone Energy (ESTE) Right Now?

MILWAUKEE , Aug. 21, 2023 /PRNewswire/ -- Ademi LLP is investigating Earthstone (NYSE: ESTE) for possible breaches of fiduciary duty and other violations of law in its transaction with Permian Resources. Click here to learn how to join the action https://www.ademilaw.com/case/earthstone-energy-inc or call Guri Ademi toll-free at 866-264-3995.

Shareholder Alert: Ademi LLP investigates whether Earthstone Energy, Inc. has obtained a Fair Price in its transaction with Permian Resources

Permian Resources Corp.'s planned $4.5 billion acquisition of Earthstone Energy Inc. will bring scale to the Midland, Texas-based oil and natural-gas company, analysts say.

Permian Resources building scale with $4.5 billion Earthstone Energy deal, analysts say

Earthstone Energy Inc (NYSE: ESTE) popped up more than 15% up on Monday after Permian Resources Corp (NYSE: PR) revealed plans of buying the oil and gas company for $4.5 billion. Why is Permian Resources buying Earthstone Energy?

Earthstone Energy shares jump 15% on Permian Resources deal

Earthstone Energy (NYSE: ESTE ) stock is rallying on Monday after the oil and gas company reached a $4.5 billion deal with Permian Resources (NYSE: PR ). This agreement has Permian Resources agreeing to acquire Earthstone Energy in an all-stock transaction.

ESTE Stock Alert: The $4.5 Billion Reason Earthstone Energy Is Up Today

Earthstone Energy (NYSE:ESTE) stock jumped after news of its premium-priced, US$4.5 billion takeover by US shale peer Permian Resources (NYSE:PR). The paper deal, pitched at US$18.64 per Earthstone share, aims to create a new ‘premier Delaware basin independent E&P company' producing around 300,000 barrels oil equivalent per day.

Earthstone Energy stock jumps as it agrees to be bought by Permian Resources

Permian Resources plans on increasing its quarterly dividend by 20% to 6 cents a share beginning in the first quarter of 2024.

Permian Resources to Buy Earthstone Energy in $4.5 Billion Deal. There's More to It.

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Earthstone Energy, Inc. (NYSE: ESTE) to Permian Resources Corporation for 1.446 shares of Permian Resources common stock for each share of Earthstone common stock is fair to Earthstone shareholders. Halper Sadeh encourages Earthstone shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpers.

ESTE Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Earthstone Energy, Inc. Is Fair to Shareholders

Permian Resources Corp. PR, +2.71% plans to acquire Earthstone Energy Inc. ESTE, +3.44% in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt, the companies announced Monday. Oil and natural gas company Permian Resources said that the deal boosts its exploration and production position in the Delaware basin.

Permian Resources to acquire Earthstone Energy in $4.5 billion all-stock deal

Permian Resources said on Monday it would buy Earthstone Energy in an all-stock transaction valued at about $4.5 billion, including debt.

Permian Resources to buy Earthstone Energy in $4.5 bln deal

MIDLAND & THE WOODLANDS, Texas--(BUSINESS WIRE)--Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) and Earthstone Energy, Inc. (“Earthstone Energy” or “Earthstone”) (NYSE: ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt. Under the terms of the transaction, each share of Earthstone common.

Permian Resources to Acquire Earthstone Energy in All-Stock Transaction, Creating a $14 Billion Premier Delaware Basin Independent E&P

THE WOODLANDS, Texas, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced the closing of the acquisition of the northern Delaware Basin assets of Novo Oil & Gas Holdings, LLC (“Novo”). Concurrent with the closing of the Novo acquisition, the Company also announced the effectiveness of an amendment to the Company's senior secured credit facility, which increases the elected borrowing base commitments from $1.45 billion to $1.75 billion and increases the borrowing base from $1.65 billion to $2.0 billion.

Earthstone Announces Closing of the Novo Acquisition

THE WOODLANDS, Texas, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”) announced today its participation in upcoming conferences.

Earthstone Energy to Participate in Upcoming Conferences

THE WOODLANDS, Texas, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced that Warburg Pincus LLC and its affiliates (“Warburg Pincus”) recently sold its remaining 12.9 million shares of Earthstone's Class A common stock. Effective with this sale, Warburg Pincus no longer holds any shares of Earthstone's Class A or Class B common stock.

Earthstone Announces Warburg Pincus Disposition of Remaining Shares

Earthstone Energy, Inc. (NYSE:ESTE ) Q2 2023 Earnings Conference Call August 3, 2023 2:00 PM ET Company Participants Clay Jeansonne - Director, Investor Relations Robert Anderson - Chief Executive Officer & President Steve Collins - Executive Vice President & Chief Operating Officer Mark Lumpkin - Executive Vice President & Chief Financial Officer Conference Call Participants Scott Hanold - RBC Capital Markets Neal Dingmann - Truist Securities Subash Chandra - Benchmark Company Charles Meade - Johnson Rice Michael Scialla - Stephens Noel Parks - Tuohy Brothers Operator Good afternoon, and welcome to the Earthstone Energy's Second Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode.

Earthstone Energy, Inc. (ESTE) Q2 2023 Earnings Call Transcript

Earthstone Energy (ESTE) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $1.29 per share a year ago.

Earthstone Energy (ESTE) Q2 Earnings Miss Estimates

THE WOODLANDS, Texas, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three and six months ended June 30, 2023. Second Quarter 2023 Highlights Announced the Novo Acquisition for $1 billion on June 15, 2023, which is expected to close on August 15, 2023 Achieved record average daily production of 105,493 Boepd(1) (42% oil), which exceeded the mid-point of full-year 2023 production guidance by 5.5% Net income(2) of $82.4 million, and Adjusted Net Income(3) of $75.6 million Adjusted EBITDAX(3) of $238.8 million Net cash provided by operating activities of $218.4 million Free Cash Flow(3) of $41.9 million Capital expenditures of $174.4 million, which comprised 23% of the mid-point of full-year 2023 capital expenditures guidance Issued $500 million of senior unsecured notes due 2031 Year to Date 2023 Highlights Average daily production of 104,974 Boepd(1) (43% oil), which exceeded the mid-point of full-year 2023 production guidance by 5.0% Net income(2) of $168.7 million, and Adjusted Net Income(3) of $184.7 million Adjusted EBITDAX(3) of $505.7 million Net cash provided by operating activities of $476.8 million Free Cash Flow(3) of $83.7 million Capital expenditures of $376.7 million, which comprised 50% of the mid-point of full-year 2023 capital expenditures guidance (1) Represents reported sales volumes.

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