July 24, 2016 8:14 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Earthstone Energy, Inc.

Company Overview

Earthstone Energy, Inc., an independent oil and natural gas exploration and production company, focuses on the acquisition, development, exploration, and production of onshore, crude oil, and natural gas reserves in the United States. Its asset portfolio includes the Eagle Ford trend of south Texas; and the Williston Basin of North Dakota and Montana, as well as other operated and non-operated properties in east and south Texas, and eastern Oklahoma. As of December 31, 2015, the company operated 62 gross Eagle Ford wells; and 8 gross Austin Chalk wells, as well as had 12,574 thousand barrels of oil equivalent (MBOE) of total proved reserves, 8,613 MBOE of proved developed reserves, and 3,961...

1400 Woodloch Forest Drive

Suite 300

The Woodlands, TX 77380

United States

Founded in 1969

50 Employees

Phone:

281-298-4246

Fax:

832-823-0498

Key Executives for Earthstone Energy, Inc.

Chairman, Chief Executive Officer and President
Age: 67
Total Annual Compensation: $255.0K
Executive Vice President of Geological & Geophysical
Age: 60
Total Annual Compensation: $235.0K
Executive Vice President of Northern Region and Director
Age: 65
Total Annual Compensation: $231.0K
Chief Accounting Officer and Vice President
Age: 38
Total Annual Compensation: $177.0K
Executive Vice President of Corporate Development & Engineering
Age: 54
Total Annual Compensation: $235.0K
Compensation as of Fiscal Year 2015.

Earthstone Energy, Inc. Key Developments

Earthstone Energy, Inc. Announces Auditor Changes

Earthstone Energy, Inc. dismissed WEAVER AND TIDWELL, L.L.P. as the company's independent registered public accounting firm and appointed Grant Thornton LLP effective immediately upon the completion of Grant Thornton's client acceptance procedures, which occurred on July 18, 2016, to serve as the company's new independent registered public accounting firm to audit the company's financial statements as of and for the fiscal year ending December 31, 2016.

Earthstone Energy Seeks Property Acquisitions

Earthstone Energy, Inc. (AMEX:ESTE) intends to use the net proceeds from the underwritten public offering to repay outstanding indebtedness, general corporate purposes, drilling and completion activities associated with operated and non-operated properties, leasehold interest, and property acquisitions.

Earthstone Energy, Inc. Provides Production Guidance for the Year 2016

Earthstone Energy, Inc. provided production guidance for the year 2016. For the year, the company reported the average production guidance of 4,400 Boepd to 4,800 Boepd. 2016 exit rate production guidance of 6,000 Boepd to 6,200 Boepd.

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Type
Date
Target
Merger/Acquisition
December 17, 2015
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November 3, 2015
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Additional Acreage in Bakken/Three Forks Producing Units
 

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