Earthstone Energy (ESTE) Update - Mar 13
Posted: Fri Mar 13, 2020 5:16 pm
This is very important.
In 2020, Earthstone has 78% of the midpoint of their our oil production guidance, or 8,000 barrels of oil per day, hedged at a WTI price of $60.31/Bbl. ESTE closed at $2.25 today and their oil hedges have a cash value today of approximately $73 million or $1.12/share. Hedges are just Puts and Calls which can be monetized easily.
I am updating my forecast/valuation model for ESTE now and it will be on the EPG website this evening.
In 2020, Earthstone has 78% of the midpoint of their our oil production guidance, or 8,000 barrels of oil per day, hedged at a WTI price of $60.31/Bbl. ESTE closed at $2.25 today and their oil hedges have a cash value today of approximately $73 million or $1.12/share. Hedges are just Puts and Calls which can be monetized easily.
I am updating my forecast/valuation model for ESTE now and it will be on the EPG website this evening.