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Independent Oil Gas
Sure, here is some general information about Earthstone Energy Inc. ( Symbol: ESTE) and its financials:
Earthstone Energy Inc. is an exploration and production company that focuses on the acquisition, exploration, development, and operation of oil and natural gas properties nationwide. The company's operations are primarily located in the Anadarko Basin in Oklahoma and the Permian Basin in New Mexico.
As of December 31, 2022, Earthstone Energy Inc. had 136 million barrels of oil equivalent (BOE) of estimated net proved reserves, with an estimated PV-10 value of around $840.8 million. Estimated net proved reserves are primarily composed of oil (55%) and natural gas liquids (24%), with a small percentage of natural gas (21%).
In terms of financials, Earthstone Energy Inc. reported a net loss of $144.2 million in its most recent quarterly report (Q3 2023). The company has been focusing on reducing its debt and improving its balance sheet in recent years. At the end of Q3 2023, the company had a long-term debt of $222.1 million and a revolving credit facility of $200 million.
As for growth, Earthstone Energy Inc. has been actively engaged in acquisitions and divestitures to optimize its portfolio and focus on its core areas. In 2022, the company acquired properties in the Anadarko Basin for around $241 million, and in 2020, it sold non-core assets in the Permian Basin for $185 million.
Regarding dividends, Earthstone Energy Inc. has not paid dividends in recent years, as the company has focused on investing in growth opportunities and maintaining a strong balance sheet.
In summary, Earthstone Energy Inc. is an independent oil and natural gas exploration and production company. Its operations are mainly located in the Anadarko and Permian Basins. The company has been focusing on debt reduction, portfolio optimization, and growth opportunities. While it has not paid dividends in recent years, it aims to generate long-term value for shareholders through the development and acquisition of oil and gas assets.
I hope that was informative enough!