Brief: Earthstone Energy Announces $1 Bln Delaware Basin Acquisition

Earthstone Energy

15/06/2023 12:56

June 15 (Reuters) - Earthstone Energy Inc  ESTE.N :
    * EARTHSTONE ENERGY ANNOUNCES $1.0 BILLION DELAWARE
BASIN ACQUISITION
    * EARTHSTONE ENERGY INC - DEAL EXPECTED TO BE FUNDED WITH
CASH ON
HAND AND BORROWINGS UNDER CO'S SENIOR SECURED REVOLVING CREDIT
FACILITY
    * EARTHSTONE ENERGY INC - 4Q 2023 PRODUCTION EXPECTED TO
INCREASE
BY 30,000-35,000 BOEPD RELATIVE TO CURRENT OPERATING PLAN AND
GUIDANCE
    * EARTHSTONE ENERGY INC -  HAS ENTERED INTO AN AGREEMENT TO
ACQUIRE NOVO OIL & GAS HOLDINGS, LLC FOR $1.5 BILLION
    * EARTHSTONE ENERGY - DEAL IS ACCRETIVE TO EARTHSTONE ACROSS
KEY
FINANCIAL METRICS
    * EARTHSTONE ENERGY - SEES 2024 TOTAL EARTHSTONE PRODUCTION
TO
DECLINE MODERATELY VERSUS 4Q 2023 PRODUCTION, WITH PRODUCTION
PROFILE FLATTENING OUT IN 2H 2024

Source text for Eikon:  ID:nGNXP8lGx 
Further company coverage:  ESTE.N 

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