March 27, 2017 1:00 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Earthstone Energy, Inc.

Company Overview

Earthstone Energy, Inc., 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, the Eagle Ford trend of south Texas, and in the Williston Basin of North Dakota. As of December 31, 2016, the company operated 70 gross Eagle Ford wells; and 9 gross Austin Chalk wells, as well as had 12,051 thousand barrels of oil equivalent (MBOE) of total proved reserves, 9,361 MBOE of proved developed reserves, and 2,690 MBOE of proved undeveloped reserves. Earthstone Energy, Inc. was founded in 1969 and is headquartered in The Woodlands, Texas.

1400 Woodloch Forest Drive

Suite 300

The Woodlands, TX 77380

United States

Founded in 1969

48 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: $243.1K
Executive Vice President of Geological & Geophysical
Age: 60
Total Annual Compensation: $224.0K
Executive Vice President of Northern Region and Director
Age: 65
Total Annual Compensation: $220.2K
Executive Vice President of Corporate Development & Engineering
Age: 54
Total Annual Compensation: $246.8K
Compensation as of Fiscal Year 2016.

Earthstone Energy, Inc. Key Developments

Earthstone Energy, Inc. Reports Operating and Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Impairment Charges for the Fourth Quarter of 2016; Provides Capital Expenditure Guidance for the Full Year of Fiscal 2017

Earthstone Energy, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company’s total revenue was $15,152,000 compared to $8,231,000 a year ago. Net loss was $33,047,000 or $1.48 per diluted share compared to $116,511,000 or $8.42 per diluted share a year ago. Adjusted EBITDAX was $6,984,000 compared to $4,334,000 a year ago. Capital expenditures totaled approximately $13.2 million. For the year, the company’s total revenue was $42,269,000 compared to $47,464,000 a year ago. Net loss was $54,541,000 or $2.92 per diluted share compared to $116,655,000 or $8.43 per diluted share a year ago. Adjusted EBITDAX was $16,260,000 compared to $25,889,000 a year ago. Loss from operations was $46,021,000 compared to $149,229,000 a year ago. Loss before income taxes was $54,013,000 compared to $143,097,000 a year ago. Net cash provided by operating activities was $1,712,000 compared to net used in operating activities of $10,440,000 a year ago. Additions to oil and gas property were $28,417,000 compared to $61,060,000 a year ago. Additions to the office and other equipment were $117,000 compared to $378,000 a year ago. For the fourth quarter of 2016, the company reported a non cash impairment expense of $24.3 million, including $2.9 million related to its proved properties, $3.9 million related to its unproved properties, and $17.5 million related to goodwill. For the fourth quarter of 2016, the company reported average daily production of 4,685 Boepd compared to 3,872 Boepd a year ago. For the year 2016, the company reported average daily production of 4,002 Boepd compared to 3,936 Boepd a year ago. For 2017, the company planned $130 million capital budget with $100 million devoted to the Midland Basin, while the remaining $30 million to be spent in the Eagle Ford and the Bakken.

Earthstone Energy, Inc., Q4 2016 Earnings Call, Mar 16, 2017

Earthstone Energy, Inc., Q4 2016 Earnings Call, Mar 16, 2017

Earthstone Energy, Inc. Presents at 29th Annual ROTH Conference, Mar-13-2017 07:30 AM

Earthstone Energy, Inc. Presents at 29th Annual ROTH Conference, Mar-13-2017 07:30 AM. Venue: The Ritz Carlton, Laguna Niguel, Dana Point, California, United States.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 8, 2016
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