Earthstone Energy has completed its third significant acquisition completed in 2021 of the privately held operated assets located in the Midland Basin from Tracker Resource Development III.
Earthstone estimates its oil and gas sales volumes for the second quarter of 2021 to be approximately 2.07 MMBoe (52% oil, 76% liquids).
Adjusted for the closing of the Tracker Acquisition and including only proved developed reserves from the Tracker acquisition, Earthstone estimates total proved reserves were 133.6 MMBoe, with a corresponding PV-10 value1 of $1.6bn.
The low-cost, low-decline, high-margin assets, bought from Tracker for $126.5m, are located near to Earthstone’s existing operated assets, adding significant producing asset value with a Company estimated PV-10 value of mid-year 2021 proved developed reserves of $169m, based on NYMEX strip pricing and differentials as of June 30, 2021.
For more information visit: www.earthstoneenergy.com