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April 26, 2015 1:27 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Earthstone Energy, Inc.

Company Overview

Earthstone Energy, Inc., an independent oil and gas exploration and production company, focuses on the acquisition, exploration, development, and production of onshore crude oil and natural gas reserves in the United States. Its properties are primarily located in the Eagle Ford shale trend of south Texas and in the Williston Basin of North Dakota and Montana. As of December 31, 2014, the company operated 49 gross Eagle Ford wells and 5 gross Austin Chalk wells, as well as had 22,192 thousand barrels of oil equivalent (MBOE) of total proved reserves, 9,800 MBOE of proved developed reserves, and 12,392 MBOE of proved undeveloped reserves. Earthstone Energy, Inc. was founded in 1969 and is hea...

1400 Woodloch Forest Drive

Suite 300

The Woodlands, TX 77380

United States

Founded in 1969

50 Employees

Phone:

281-298-4246

Fax:

281-298-4272

Key Executives for Earthstone Energy, Inc.

Executive Vice President of Northern Region and Director
Age: 63
Total Annual Compensation: $231.0K
Compensation as of Fiscal Year 2014.

Earthstone Energy, Inc. Key Developments

Earthstone Energy, Inc. Provides Production Guidance for 2015

Earthstone Energy, Inc. provided production guidance for 2015. For the period, the company expects production with a range of 4,200 to 4,600 barrels of oil equivalent per day comprised of 63% oil, 11% NGLs and 26% gas.

Earthstone Energy, Inc., Q4 2014 Earnings Call, Apr 01, 2015

Earthstone Energy, Inc., Q4 2014 Earnings Call, Apr 01, 2015

Earthstone Energy, Inc. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Impairment Expense for the Fourth Quarter Ended December 31, 2014

Earthstone Energy, Inc. reported unaudited consolidated earnings and production results for the fourth quarter and year ended December 31, 2014. For the quarter, total revenues were $12,108,000 against $9,124,000 a year ago. Net loss was $37,318,000 or $3.83 per diluted share against $12,854,000 or $1.41 per diluted share a year ago. Adjusted EBITDAX was $7,336,000 against $4,101,000 a year ago. For the year, total revenues were $47,994,000 against $29,943,000 a year ago. Net loss was $28,834,000 or $3.11 per basic and diluted share against $19,875,000 or $2.18 per basic and diluted share a year ago. Adjusted EBITDAX was $28,455,000 against $12,894,000 a year ago. Loss from operations was $10,586,000 against $19,700,000 a year ago. Loss before income taxes was $6,729,000 against $19,875,000 a year ago. Net cash provided by operating activities was $75,788,000 against $15,283,000 a year ago. Acquisitions of proved and unproved property was $18,772,000 against $86,687,000 a year ago. Additions to oil and gas property and equipment amounted to $83,041,000 against $31,162,000 a year ago. Additions to other property and equipment amounted to $1,385,000 against $678,000 a year ago. For the quarter, total daily production was 2,760 BOEPD against 2,142 BOEPD a year ago. Total production was 254 MBOE against 197 MBOE a year ago. For the year, total daily production was 2,416 BOEPD against 2,019 BOEPD a year ago. Total production was 882 MBOE against 737 MBOE a year ago. For the quarter ended December 31, 2014, the company reported impairment expense of $19,359,000 against $12,253,000 a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 17, 2014
Eagle Ford Interests Fayette and Gonzales Counties Texas
Merger/Acquisition
May 15, 2014
Earthstone Energy, Inc., Prior to Reverse Merger with Oak Valley Resources, LLC
 

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