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Independence Resources Acquisition – Earthstone Energy Inc.

Earthstone Energy Inc. · Dec 17, 2020 · 10 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Independence Resources Acquisition – Earthstone Energy Inc. – slide 1
    Independence Resources Acquisition December 17, 2020 1
  2. Independence Resources Acquisition – Earthstone Energy Inc. – slide 2
    Independence Resources Acquisition Overview and Key Highlights 185.9 million acquisition of Independence Resources Management, LLC underwritten on PDP value but provides attractive drilling inventory additions Increases ESTE size…
  3. Independence Resources Acquisition – Earthstone Energy Inc. – slide 3
    Acquisition Details Earthstone has entered into an agreement to acquire Independence Resources Management, LLC and certain related entities (IRM) owned largely by Warburg Pincus, LLC and affiliates (Warburg) Cash and equity…
  4. Independence Resources Acquisition – Earthstone Energy Inc. – slide 4
    Strategic Acquisition Bolsters Existing Midland Basin Position IRM Asset Overview Combined Midland Basin Map Complementary Midland Basin assets meaningfully increase ESTE size and scale 3Q20 production of 8,780 Boepd (66% oil)(1)…
  5. Independence Resources Acquisition – Earthstone Energy Inc. – slide 5
    IRM Spanish Pearl and Offset Operator Well Results IRM Spanish Pearl Area Activity IRM Spanish Pearl and Offset Well Results(1) 6 Month Oil Cum / Well Well Name Operator TLL (ft.) Comp. Date 1,000' (bo) 1 Whittenburg 9MS IRM 9,857…
  6. Independence Resources Acquisition – Earthstone Energy Inc. – slide 6
    IRM Acquisition Meets Key Earthstone Criteria Earthstone IRM Commentary Objectives Acquisition Increases ESTE size and scale by 50% with minimal impact to leverage and Increase Scale at shares outstanding Favorable Valuations…
  7. Independence Resources Acquisition – Earthstone Energy Inc. – slide 7
    Meaningful Improvement to Key Operational Metrics Transaction increases production and Adjusted EBITDAX by 50% with minimal impact to leverage and shares outstanding 3Q20 Net Production (Boe/d)(1) 9/30/20 LTM Adjusted EBITDAX…
  8. Independence Resources Acquisition – Earthstone Energy Inc. – slide 8
    Transaction Improves All Key Metrics Without Impacting Balance Sheet Metrics ESTE expects to pick up an operated rig in 2021, depending on market conditions, and will provide FY 2021 guidance in early 2021 in the normal course of…
  9. Independence Resources Acquisition – Earthstone Energy Inc. – slide 9
    Contact Information Mark Lumpkin, Jr. EVP, Chief Financial Officer Scott Thelander Vice President of Finance Corporate Offices Houston 1400 Woodloch Forest Drive Suite 300 The Woodlands, TX 77380 (281) 298-4246 Midland…
  10. Independence Resources Acquisition – Earthstone Energy Inc. – slide 10
    Reconciliation of Non-GAAP Financial Measure Adjusted EBITDAX Earthstone uses Adjusted EBITDAX, a financial measure that is not presented in accordance with accounting principles generally accepted in the United States (GAAP). Adjusted…

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