Moody's Ratings (Moody's) upgraded Earthstone Energy Holdings, LLC's (Earthstone) backed senior unsecured notes rating to Ba2 from Ba3 and changed the outlook to stable from positive. RATINGS RATIONALE The notes issued by Earthstone were legally assumed by Permian Resources Operating, LLC (Permi...
Earthstone Energy, Inc. Reports 2023 Third Quarter and Year-to-Date Financial Results THE WOODLANDS, Texas, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three and nine months ended September 30, 2023. Permian Resources Merger Agreement On October 30, 2023, at the special meeting of stockholders of Earthstone, the stockholders of Earthstone approved the previously disclosed merger agreement with Permian Resources Corporation and the transactions contem...
Earthstone Declares Cash Dividend THE WOODLANDS, Texas, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced that its Board of Directors declared a cash dividend of $0.1446 per share of Class A and Class B common stock. The dividend is payable on November 6, 2023, to shareholders of record as of October 31, 2023 who hold their shares through the closing of Earthstone’s previously announced merger with Permian Resources Corporation (NYSE: PR) (“Permian Resources”). The special dividend is conditioned upon the closing of th...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
A director at Earthstone Energy Inc sold 20,899 shares at 21.280USD and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...
Earthstone Announces Expiration of Hart-Scott-Rodino Act Waiting Period in Connection with Proposed Transaction THE WOODLANDS, Texas, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), with respect to the previously-announced agreement for Permian Resources Corporation (NYSE: PR) (“Permian Resources”) to acquire all outstanding shares of Earthstone at an exchange ratio of 1.446 shares of Permian ...
Moody's Investors Service ("Moody's") changed Earthstone Energy Holdings, LLC's (Earthstone) rating outlook to positive from stable. Concurrently, Moody's affirmed Earthstone's B1 Corporate Family Rating (CFR), B1-PD Probability of Default Rating (PDR) and B3 senior unsecured notes rating. The Specu...
Permian Resources to Acquire Earthstone Energy in All-Stock Transaction, Creating a $14 Billion Premier Delaware Basin Independent E&P MIDLAND, Texas and THE WOODLANDS, Texas, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) and Earthstone Energy, Inc. (“Earthstone Energy” or “Earthstone”) (NYSE: ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. Und...
Earthstone Announces Closing of the Novo Acquisition Expands Operations in Highly Economic Northern Delaware Basin Area THE WOODLANDS, Texas, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced the closing of the acquisition of the northern Delaware Basin assets of Novo Oil & Gas Holdings, LLC (“Novo”). Concurrent with the closing of the Novo acquisition, the Company also announced the effectiveness of an amendment to the Company’s senior secured credit facility, which increases the elected borrowing base commitments f...
Earthstone Energy to Participate in Upcoming Conferences THE WOODLANDS, Texas, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”) announced today its participation in upcoming conferences. EnerCom Denver The Energy Investment Conference, August 14, 2023Robert J. Anderson, President and CEO, will be presenting at EnerCom Denver on Monday, August 14, 2023, at 8:25 am MDT. Interested parties can listen to the webcast by registering at the following website: . Barclays CEO Energy-Power Conference, September 5 - September 6, 2023NYSE Inves...
Earthstone Announces Warburg Pincus Disposition of Remaining Shares Share Sale Increases Public Float by ~25% THE WOODLANDS, Texas, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”), today announced that Warburg Pincus LLC and its affiliates (“Warburg Pincus”) recently sold its remaining 12.9 million shares of Earthstone’s Class A common stock. Effective with this sale, Warburg Pincus no longer holds any shares of Earthstone’s Class A or Class B common stock. Management Comment Robert J. Anderson, President and Chief Executive Off...
Earthstone Energy, Inc. Reports 2023 Second Quarter and Year-to-Date Financial Results Generated Record Production for Second Quarter 2023 THE WOODLANDS, Texas, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “we”, “our” or “us”), today announced financial and operating results for the three and six months ended June 30, 2023. Second Quarter 2023 Highlights Announced the Novo Acquisition for $1 billion on June 15, 2023, which is expected to close on August 15, 2023Achieved record average daily production of 105,493 Boepd(1) (42% oil...
Earthstone Energy Publishes Inaugural Sustainability Report THE WOODLANDS, Texas, July 27, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”), today announced the publication of its inaugural sustainability report. The report, which is now available on the Company’s website, covers the fiscal year 2022 and demonstrates Earthstone’s commitment to environmental, social, and governance (“ESG”) standards and reporting. “We believe providing ESG-related information and metrics to our shareholders and other stakeholders is essential while communicatin...
Earthstone Energy, Inc. Announces Second Quarter 2023 Conference Call for Thursday, August 3, 2023 at 2:00 p.m. Eastern THE WOODLANDS, Texas, July 25, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”), announced today that its management team will host a conference call on Thursday, August 3, 2023, at 2:00 p.m. Eastern (1:00 p.m. Central) to discuss the Company’s financial results for the second quarter 2023. Prepared remarks by Robert J. Anderson, President and Chief Executive Officer, Mark Lumpkin, Jr., Executive Vice President and Chief Finan...
Earthstone announced an agreement to acquire Novo Oil & Gas Holdings LLC for $1.5 billion on June 15, 2023. Concurrently, Northern Oil & Gas will acquire a pro rata one-third of the assets for $500 million from Earthstone, resulting in a net purchase price of $1.0 billion. The transaction is expected to close in 3Q23 and will have an effective date of May 1, 2023... Earthstone is trading at 2.3x our FY24 adjusted EBITDA estimate based on a year-end 2024 net debt estimate of ~$1.3 billion. Based ...
Earthstone Energy Announces Pricing of Private Offering of $500 Million of Senior Unsecured Notes due 2031 THE WOODLANDS, Texas, June 27, 2023 (GLOBE NEWSWIRE) -- Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”), today announced that its subsidiary, Earthstone Energy Holdings, LLC (“EEH”), has priced the previously announced private offering (the “Notes Offering”) of $500 million aggregate principal amount of 9.875% senior unsecured notes due 2031 (the “Notes”). The Notes will be issued at a price of 97.968% of their principal amount. The Notes will rank equally in ...
Moody's Investors Service ("Moody's") assigned a B3 rating to Earthstone Energy Holdings, LLC's (Earthstone) proposed senior unsecured notes due 2031. The existing ratings are unchanged, including the B1 Corporate Family Rating (CFR), B1-PD Probability of Default Rating (PDR), and the B3 ratings on ...
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