Investment Highlights Presence in the most prolific, domestic oil-bearing shale plays Diversified Shale Play Exposure Eagle Ford, Midland Basin and Bakken / Three Forks with Growing Inventory Growth through drill bit and significant…
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 / Three Forks company to a small cap, multi-basin operator with additional exposure to the Eagle Ford and Midland…
Earthstone Acquires Lynden Transaction Summary Closed on May 18, 2016 3.7mm ESTE shares issued to Lynden Energy Corp. (LVL) stockholders NYSE MKT: ESTE TSX Ventures: LVL.V / OTC Pink: LVLEF Existing ESTE stockholders own 79% and…
Company Overview The Woodlands, Texas based E&P company focused on domestic exploration and production of oil and natural gas with current Asset Location operations primarily in the Eagle Ford trend, Midland Basin and Bakken / Bakken…
Key Areas Midland Basin Eagle Ford 1P Reserves (MMBoe) 5.3 1P Reserves (MMBoe) 9.5 % PD 79% % PD 66% % Oil 54% % Oil 76% PV10 (mm) 41.5 PV10 (mm) 78.9 Net Production (Boepd) 1,329 Net Production (Boepd) 2,760 Gross Producing Wells 130…
Core Asset Summary Project Area South Texas Williston Basin Midland Basin Objective Eagle Ford, Bakken, Spraberry, Austin Chalk Three Forks Wolfcamp Counties Karnes, Gonzales, McKenzie, Dunn Glasscock, Midland, Fayette Martin,…
Combined Asset Summary 12/31/15 SEC Pricing Proved Reserves by Category Proved Reserves by Commodity 17.9 MMBoe 17.9 MMBoe PDNP 15% Gas PDP Oil 19% 57% 68% PUD 28% NGL 13% PV-10 by Category Production by Commodity 145.9mm…
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% 13
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 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…
Midland Basin Asset Overview Glasscock, Howard, Martin and Gross Net Interest Net Midland Counties, Texas County Acres (%) Acres 1,757 43.750 769 Martin 1,127 20.000 225 Midland 640 43.750 280 Glasscock 4,480 43.750 1,960 6,121…
Midland Basin Howard County 5 6,761 gross / 2,649 net acres prospective for the Wolfcamp 6 4 Leasehold interest of 25% to 41% First horizontal well planned for August 2016 1 2 3 Increasing horizontal well activity by other…
Midland Basin Glasscock County 4,480 gross / 1,960 net acres prospective for the Wolfcamp Leasehold interest of 44% Earthstones first two horizontal Wolfcamp wells in Glasscock 3 2 County were drilled during June and July 2015…
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 Offset operators include EOG, Encana and Marathon Potential for 33+ gross Eagle Ford…
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…
Bakken / Three Forks Asset Overview Billings, Dunn, McKenzie and Williams 5,900 net core acres predominantly in McKenzie and Dunn Counties, North Dakota Counties of North Dakota that are prospective for the Bakken / Three Forks…
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 45,000 49.35 380,000 270,000 Q4 2016 Oil 45,000 49.35 120,000 2016…
Capital Structure and Liquidity Capitalization (mm) PF Earthstone 1 3/31/2016 Cash and Equivalents 13.2 Revolver Outstandings 47.8 Total Debt 47.8 Total Shareholders' Equity 237.4 Total Capitalization 285.2 LTM Adjusted…
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…
Contact Information Frank Lodzinski President and CEO Robert Anderson EVP, Corporate Development and Engineering Neil Cohen VP, Finance, and Treasurer Corporate Headquarters Houston 1400 Woodloch Forest Drive Suite 300 The…
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