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Earthstone Energy reports 26% rise in FY 2018 production

Published 01/16/2019, 05:33 PM
© Reuters.  Earthstone Energy reports 26% rise in FY 2018 production
ESTE
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  • Earthstone Energy (NASDAQ:ESTE) estimates Q4 oil and gas sales volumes totaled 959K boe, or 10,430 boe/day, and full-year sales volumes jumped 26% Y/Y to 3.62M boe, or 9,930 boe/day.
  • ESTE says it plans 2019 capital spending of $190M, as it expects to maintain a one-rig operated program for its acreage in the Midland Basin.
  • The company says it recently concluded drilling the second well on a two-well pad in the Ratliff Unit in Upton County and is moving the rig to Midland County to drill five wells in its Mid-States Unit.
  • Now read: Earthstone Energy: 3x EBITDA, No Debt, 50% Upside


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