Investment Highlights Diversified Shale Play Exposure Presence in the most prolific, domestic oil-bearing shale with Growing Inventory playsEagle Ford, Midland Basin, and Bakken Growth through drill bit and significant acquisitions…
Track Record Management team has consistently created shareholder value Repeated success with multiple entities over 20+ years 2005 2007 Southern Bay Energy, LLC Results have created long-term and recurring shareholders (Private)…
Management Strong management and technical team with demonstrated ability and prior success Equity investorsinterests are clearly aligned with shareholders Years Years of Working Responsibility Experience Together Frank Lodzinski…
Strategic Objectives Asset Strategy Corporate Strategy Optimize Existing Properties Deliver superior returns to shareholders Implement operational improvements and Maintain financial flexibility and a strong balance efficiencies…
Earthstone A Platform for Steady Growth Since December 2014, Earthstone has evolved from a micro cap, non-op Bakken company to a small cap, multi-basin operator with additional exposure to the Eagle Ford and Midland Basin Production…
Earthstone Acquires Lynden NYSE MKT: ESTE TSX Ventures: LVL.V / OTC Pink: LVLEF 12.6 MMBoe1 5.3 MMBoe2 82% Liquids / 68% PD 78% Liquids / 79% PD 79% Ownership in Combined Company 21% Ownership in Combined Company…
Lynden Acquisition Benefits Benefits to ESTE Stockholders Entry into Midland Basin, diversifying and expanding its existing exposure to the Eagle Ford and Bakken Working interests in 122 gross / 49.2 net vertical wells targeting the…
Combined Core Asset Map1 North Dakota Earthstone and Lynden Combined Bakken/Three Forks Earthstone Total Companies Northern Region 1P Reserves (MMBoe) 17.9 1P Reserves (MMBoe) 3.0 % PD 71% % PD 78% % Oil 68% % Oil 71% PV10 (mm)…
Core Asset Summary Company Earthstone Earthstone Lynden Project Area South Texas Williston Basin Midland Basin Objective Eagle Ford, Bakken, Spraberry, Austin Chalk Three Forks Wolfcamp Counties Karnes, Gonzales, McKenzie, Dunn…
Combined Asset Summary 12/31/15 SEC Pricing1 Proved Reserves by Category1 Proved Reserves by Commodity1 17.9 MMBoe 17.9 MMBoe PDNP 15% Gas PDP Oil 19% 57% 68% PUD 28% NGL 13% PV-10 by Category1,2 Production by Commodity3…
Equity Ownership Earthstone is Backed By Top-Tier Investors 17.535mm shares outstanding Investor Sponsor Ownership Earthstone Management 52.0% Friends and Family 16.9% JVL Advisors 3.9% 14
Oak Valley Resources, LLC owns 52.0% of Earthstone. Oak Valleys investors include: Earthstone Management EnCap Investments L.P. Significant equity investors Leading provider of private equity to the independent E&P sector CEO has over…
Midland Basin and Eagle Ford Position Overview Midland Basin 1 County Gross Acres Leasehold Interest (%) Net Acres Production (Boepd) Martin 1,757 43.75% 769 1,127 20.00% 225 Midland 640 43.75% 280 Glasscock 4,480 43.75% 1,960 Howard…
Midland Basin Acreage Position Overview Gross Lynden Net Lynden Net County Acres % Interest Acres 1,757 43.75 769 Martin 1,127 20.00 225 Midland 640 43.75 280 Glasscock 4,480 43.75 1,960 6,121 40.625 2,487 Howard 640 25.39 162 Total:…
Midland Basin Horizontal Potential in Multiple Horizons Several horizontal resource plays being delineated Horizontal development in the Midland Basin is exceeding original expectations Increasing industry activity de-risking…
Glasscock County Wind Farms Prospect Area 4,480 gross / 1,960 net acres prospective for Initial Horizontal Locations the Wolfcamp Leasehold interest of 44% Lyndens first two horizontal Wolfcamp wells in Glasscock County were drilled…
Howard County Tubb Prospect Area 6,761 gross / 2,640 net acres prospective for the Wolfcamp Leasehold interest of 25% to 41% First horizontal well planned for August 2016 Increasing vertical and horizontal well activity by other…
Eastern Shelf Mitchell Ranch Overview Unique opportunity in terms of size, contiguous nature, and significant geological potential Covers 165 square miles on Eastern Shelf 50% working interest in 104,000 gross and net acre lease…
Eagle Ford Summary Operated Fayette, Gonzales, and Karnes Counties 38,000 gross / 18,600 net leasehold acres Working interests range from 33% to 50% 60% held-by-production 64 gross producing wells (62 operated / 2 non- op) April…
Eagle Ford and Austin Chalk Intervals Across the Acreage Stratigraphic Column S.W. Fayette & N.E. Gonzales Co.s, Texas Formation Frio Vicksburg Jackson Missing / Eroded Yegua-Cockfield Section Weches Queen City Reklaw Carrizo…
Recent Eagle Ford Acquisitions Karnes and Gonzales Counties Acquired 3,050 gross / 1,185 net acres in Karnes and Southern Gonzales Counties Potential for 33+ gross Eagle Ford locations Laterals of 5,000 feet to 7,000 feet Operational…
Upper Austin Chalk Naturally Fractured Reservoir March 2016 average gross production of 500 Boepd (95% operated) 9 gross producing wells (8 operated / 1 non-op) 7,880 gross acres held by production Brought 4 gross wells on line in…
Williston Basin Bakken/Three Forks Play Summary Near-Term Strategy 5,900 net core acres predominantly in McKenzie Expand acreage and Dunn Counties of North Dakota that are prospective for the Bakken/Three Forks Acquire production…
Hedging Summary Oil Production Hedged (Bbls) Swap Positions Period Oil / Gas Quantity Fixed Price Oil BBls/mo Gas MMBtu/mo Q2 2016 Oil 36,667 52.15 Q3 2016 Oil 40,000 58.00 320,000 210,000 Q4 2016 Oil 40,000 60.80 60,000 2016…
2016 Capital Expenditure Budget Current Budget Capex by Project Area Gross Well Count 20% Drilling and Completion mm Drilled Completed Non-Operated Bakken 7.0 10 35 15% 35% Operated Eagle Ford 4.0 0 4 Non-Operated Midland Basin…
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