One-Page Deal Sheet
Earthstone Inks DrillCo Deal for Midland Basin Development
Not Disclosed Earthstone Energy Inc.
Announced Date
August 06,2019
Transaction Type
JV - DrillCo
Asset/Basin:
{"Permian - Midland Basin"}
Location
Region
Permian - Midland Basin
Country
United States
State
Texas
County
Reagan
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Earthstone Energy has entered into a Wellbore Development Agreement (“WDA”) with an unaffiliated industry partner, which is incorporated into our revised guidance.
The industry partner will participate in eight wells in Reagan County in 2019, with an option to participate in up to 11 additional wells in 2020 and will earn 35% of the working interest in these wells by paying a higher portion of the capital costs.
Financial details of the WDA were not disclosed.
To efficiently execute our revised program, we recently deployed a top performing high-specification rig in the Midland Basin which…
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