Earthstone Energy Announces Results of Borrowing Base Redetermination and Updates Debt Balance
Earthstone Energy, Inc. Class A (ESTE)
NASDAQ:AMEX Investor Relations:
investor.earthstoneenergy.com
Company Research
Source: Business Wire
Borrowing Base set at $275 million; Total debt outstanding reduced by 11% to $152 million THE WOODLANDS, Texas--(BUSINESS WIRE)--Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our” or “we”) announced today that the regularly scheduled redetermination of the borrowing base under its senior secured revolving credit facility (“Credit Facility”) has been completed with the borrowing base now set at $275 million, representing a 15% decrease from the previous borrowing base of $325 million. The next regularly scheduled redetermination of the borrowing base is on or around November 1, 2020.The Company also has provided an update on its debt balance. As of March 31, 2020, the Company had outstanding borrowings under its Credit Facility of $152 million, which represents a reduction of 11% compared to the $170 million in outstanding borrowings as of December 31, 2019. The Company’s only debt is borrowings under the Credit Facility.Management CommentsRobert J. Anderson, P
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