Earthstone Energy, Inc. (NYSE MKT: ESTE) (“Earthstone”), today provided operations updates, reiterated 2017 guidance and highlighted that it has completed its previously announced business combination with Bold Energy III LLC (“Bold”). The all-stock transaction was approved by stockholders of Earthstone at a special meeting held on May 9, 2017 and previously approved by members of Bold on November 7, 2016.
As quoted in the press release:
Earthstone’s average daily production during the first quarter of 2017 was approximately 4,735 barrels of oil equivalent per day (“Boepd”) (60% oil, 75% liquids) and Bold’s average daily production for first quarter 2017 was approximately 4,780 Boepd (72% oil, 87% liquids). On a combined basis, first quarter 2017 production was approximately 9,515 Boepd (66% oil, 81% liquids).