Benzinga | Jun 14, 2021 06:59AM EDT

Earthstone Energy Acquires Working Interests in Assets in Gonzales County, Texas for $48M Cash

Asset highlights:

* Recent net production of ~1,150 (1) Boepd (~89% oil)

* $67 million PDP PV-10 as of 4/1/21 with associated reserves of approximately 3.4 MMBoe (2)

* Low-cost, high margin and lower declining production in Earthstone operated assets

* Increases Earthstone working interest in subject assets from ~34% to ~96%