BUYERS:

Earthstone Energy, Inc.

SELLERS:

Tracker Resources Development III

EnCap Investments L.P.

Sequel Energy Group, LLC

1901 Partners Management LP

DETAILS:

COST: 126.5 $MM

VOLUMES: 7.8 MBOE/d

ACRES: 20300 Acres

NOTES:
Earthstone Energy has signed a deal with several companies to buy 20,300 net acres in Irion County, 7.8 Mboe/d in production (21% oil) and 49 identified Wolfcamp drilling locations. The deal was signed with Tracker Resource Development III and an affiliate of Sequel Energy Group. Earthstone will pay $126.5 million, including $81.6 million in cash and 6.2 million shares of Class A stock. Closing is targeted for the third quarter of 2021.

REGIONS:

Midland Basin