Bighorn Permian Resources Acquisition January 31, 2022
Bighorn Acquisition Highlights 860 million purchase price comprised of 770 million of cash and 90 million of equity consideration(1) Complimentary, PDP-weighted assets in the Midland Basin overlapping existing Earthstone…
Impact on Earthstone Pro Forma Snapshot Nearing 80,000 Boe/d, 1 billion of EBITDAX and 500 million of Free Cash Flow Key operating and financial metrics to increase by 50-200%, while outstanding shares only increase by 30% Maintains…
Acquisition and Financing Details Earthstone has entered into an agreement to acquire assets (the Bighorn Acquisition) from Bighorn Permian Resources, LLC (Bighorn) Cash and equity consideration of 860 million prior to purchase price…
Bighorn Acquisition Highlights Acquisition Highlights Midland Basin Asset Overview PDP-weighted acquisition adds significant scale to Earthstone asset base at an attractive valuation relative to 1,012 million PDP-PV10 19% year 1 to…
Acquisition Success Enabling Earthstones Step-Change in Scale Earthstone has achieved significant scale through acquisitions in the Permian Mature base production profile and high quality inventory enables moderate production growth at…
Reserves and Inventory Earthstone + Chisholm + Bighorn 1P Reserves PV-10 Value as of 1/1/22(1) 1P Reserves as of 1/1/22(1) PV-10 Value (mm) PUD 32% Proved Developed 2,844 335 Proved Undeveloped 1,086 PDNP MMBoe PDP 2% 66%…
Appendix 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…
Footnotes Page 3 1) Effective date of 1/1/22. Equity consideration amount based on 6.8 million shares of consideration and a closing ESTE price of 13.25 per share on 1/28/22. 2) PV-10 is a non-GAAP measure that differs from a measure…
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