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Earthstone Ups Capex 217% on Bold Acquisition; $130 Million
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Earthstone Energy (along with Bold Energy III) provided operations updates and combined 2017 guidance.
This takes into account Earthstone's pending acquisition of Bold Energy III.
Key Points: 2017 capex of $130 million (up +217% from $41 million in 2016) 49 gross (21.9 net) wells drilled / 57 gross (19.2 net) completions Two-rig program in the Midland Basin 2017 GuidanceThe following preliminary guidance is predicated on the assumption that closing of the pending Bold transaction will occur in late April 2017 and is also conditioned upon timely and successful integration of operations. Further, our preliminary guidance disclosed herein is subject to potentially significant change due to commodity prices, service and equipment costs, continued results of drilling and completion…
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