|Bid||6.71 x 2900|
|Ask||7.43 x 800|
|Day's Range||7.18 - 7.59|
|52 Week Range||1.44 - 9.43|
|Beta (5Y Monthly)||3.00|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 11, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.69|
Earthstone (ESTE) agrees to buy operated Midland Basin assets from Tracker, which is expected to result in a production increase of 5,800-6,000 boe/d in the second half of 2021.
Earthstone Energy, Inc. (NYSE: ESTE) ("Earthstone" or the "Company") today announced that it has entered into definitive agreements to acquire privately held operated assets located in the Midland Basin (the "Tracker Acquisition") from Tracker Resource Development III, LLC and an affiliate ("Tracker") and from affiliates of Sequel Energy Group LLC ("Sequel"), which hold well-bore interests in certain of the producing wells operated by Tracker. Tracker is backed by 1901 Partners Management LP and EnCap Investments L.P. ("EnCap"), with each holding a 49% ownership interest and Tracker management holding the remainder. The aggregate purchase price of the Tracker Acquisition is approximately $126.5 million consisting of $81.6 million in cash, subject to customary closing adjustments, and 6.2 million shares of Earthstone’s Class A common stock valued at $44.9 million based on a closing share price of $7.24 on March 30, 2021. The effective date of the Tracker Acquisition will be March 1, 2021, with closing anticipated early in the third quarter of 2021.
NEW YORK, NY / ACCESSWIRE / March 11, 2021 / Earthstone Energy, Inc. (NYSE:ESTE) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on March 11, 2021 at 10:00 AM Eastern Time.