****Dislosure: Long ESTE - we may buy more or sell at anytime.
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. Comments are closed.
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Paul SaadSenior Manager, Paul Saad and Associates, LLC Archives
May 2020
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