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ESTE - Earthstone puts out nice numbers...

8/13/2011

 
Earthstone Energy does 39 cents a share for the quarter.  At $13/share the forward P/E ratio is now about 8 with growth in production on the way.  Ray Singleton - the CEO - said new capital expenditures should double this year, meaning a lot more well interests and a lot more production.  Of Earthstone's partners, Brigham Exploration is really starting to drill in the Banks area.   There are four additional wells that are coming online.  ESTE has a 5.5% to 2% interest in these new wells.
****Dislosure: Long ESTE - we may buy more or sell at anytime.


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    Paul Saad

    Senior Manager, Paul Saad and Associates, LLC

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