Earthstone Provides Operations Update and 2020 Guidance
Earthstone Energy, Inc. Class A (ESTE)
NASDAQ:AMEX Investor Relations:
investor.earthstoneenergy.com
Company Research
Source: Business Wire
Record Quarterly Production; Beats Top End of 2019 Full Year Guidance by 9% THE WOODLANDS, Texas--(BUSINESS WIRE)--Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our” or “we”), today provided an operations update and 2020 guidance. The Company has estimated its oil and gas sales volumes for the fourth quarter of 2019 at approximately 1.60 MMBoe or an average of approximately 17,380 Boepd (66% oil). For the year ended December 31, 2019, the Company estimates its annual sales volumes grew 35% to approximately 4.88 million Boe, or an average of approximately 13,381 Boepd (63% oil) compared to 9,937 Boepd (65% oil) reported for the year ended December 31, 2018.Key highlights include:Achieved record estimated average daily sales volumes for the fourth quarter of 2019 of 17,380 Boepd (66% oil), a 66% increase over the fourth quarter of 2018Full year 2019 estimated average daily sales volumes of 13,381 Boepd exceeded the top end of guidance of 12,250 Boepd by 9%Estima
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