EARTHSTONE ENERGY, INC. PRESENTATION Annual Shareholder Meeting September 27, 2012
Company Presentation 2012 Overview / Background 2012 Accomplishments 2012 Financial Results What Does The Future Look Like Summary Questions & Answers
2012 Overview / Background Our Primary Operations Are In: North Dakota Montana Southern Texas
2012 Overview / Background Our Primary Operations Are In: North Dakota Montana Southern Texas We Are 93% Oil And 7% Natural Gas Partner-Operated Wells Generate 57% Of Production Limited Production On Federal Lands
Company Presentation 2012 Overview / Background 2012 Accomplishments 2012 Financial Results What Does The Future Look Like Summary Questions & Answers
2012 Accomplishments Qualified For And Listed On NYSE MKT Operational Tempo On The Increase Participated In 18 Development Wells Completed Five Acquisitions Deployed 8.8M in Capital Generated Reserve Growth Of 17% (BOE) Filled Key…
FY 2013 -- So Far Operational Tempo Continues To Increase Participated In 29 Horizontal Wells Completed Two Acquisitions Deployed 2.7M in Capital in Q1 Filled Key Engineering Position
Company Presentation 2012 Overview / Background 2012 Accomplishments 2012 Financial Results What Does The Future Look Like Summary Questions & Answers
Financial Results Financially We Did Great BOE Production Up 20% Gross Revenue Up 43% Net Income up 105% EPS Up 105% EBITDA Up 63%
Financial Overview Q1 Results.Disappointing. BOE Production Down 7% - CO Impact Gross Revenue Down 19% - Oil Price Net Income Down 63%
Company Presentation 2011 Overview / Background 2011 Accomplishments 2011 Financial Accomplishments / Overview Current Operations What Does The Future Look Like Summary Questions & Answers
Current Operations 5 Wells On Production This Year Well Name WI Garmann 19-18 1H 2.61% Berkner Federal 43-1H 1.10% Milton Guenther 14-9H 0.62% ZI Nelson 11-2H 2.64% Sax 25-36 1H 6.50%
Current Operations 29 Wells Drilling Or Completing Well Name Well Name Beaux 18-19 1H Maston 34-27 1H Federal 1-5H Knight 35-26 1H Johnston 7-6 1H Schmalz 34-22H Jay 24-13 1H Skarston 1-12 1H Richard 8-5 1H Chameleon State 21-1H…
Current Operations 29 Wells Drilling Or Completing Well Name Well Name Cheryl 17-20 1H Gunderson 15-22 2TFH Cheryl 17-20 2TFH Gunderson 15-22 3H Cheryl 17-20 3TFH Gunderson 15-22 4TFH Cheryl 17-20 4H Gunderson 15-22 5H Gunderson…
The Future Current Bakken/Three Forks Development Strategy 640 Acres 640 Acres 640 Acres 640 Acres
The Future Current Bakken/Three Forks Development Strategy 1280 Acre Spacing Unit Drill Sites
The Future Current Bakken/Three Forks Development Strategy Bakken Wells Three Forks Wells
Current Operations 29 Wells Drilling Or Completing Well Name Well Name Cheryl 17-20 1H Gunderson 15-22 2TFH Cheryl 17-20 2TFH Gunderson 15-22 3H Cheryl 17-20 3TFH Gunderson 15-22 4TFH Cheryl 17-20 4H Gunderson 15-22 5H Gunderson…
Company Presentation 2012 Overview / Background 2012 Accomplishments 2012 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
The Future 6 Wells Per Spacing Unit We Are In 21 Spacing Units In Banks Field 5 Spacing Units In Indian Hill Field 4 Spacing Units In Mondak Field CapEx Is Going To Increase We Expect To See Increased Production We Expect To See…
The Future - Transition We Are Now An Exploration Company Bulk Of Our Dollars Now Go To Exploration Several Years Of Drilling Ahead Of Us We Still Like Acquisitions Source Of Low Decline Production Source Of Additional Bakken…
The Future - Transition We Are Now An Exploration Company Bulk Of Our Dollars Now Go To Exploration Several Years Of Drilling Ahead Of Us We Still Like Acquisitions Source Of Low Decline Production Source Of Additional Bakken…
The Future - Transition We Are Now An Exploration Company This Is First Time That We Have A Story Impactful Sustainable Long Term First Time An IR Program Makes Sense Need For IR Talent - Investor Conferences CapEx Funding…
The Future Enhance Corporate Capabilities/Structure Enlarge & Improve Our Management Team Strengthen Our Technical Staff Enhance Technology In The Office & Field Improve Our Operating Capabilities
Company Presentation 2011 Overview / Background 2011 Accomplishments 2011 Financial Accomplishments / Overview Current Operations What Does The Future Look Like Summary Questions & Answers
Summary We Substantially Accomplished Our 2012 Goals Operationally, We Are Currently Fully Engaged We Have Ambitious Goals For 2013 CapEx, Production, Reserves Expect To Have An Exciting Year Of Growth Believe New Wells Will Have A…
Company Presentation 2011 Overview / Background 2011 Accomplishments 2011 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
EARTHSTONE ENERGY, INC. PRESENTATION Annual Shareholder Meeting September 27, 2012