Earthstone Announces Closing of Titus Acquisition
Earthstone Energy, Inc. Class A (ESTE)
NASDAQ:AMEX Investor Relations:
investor.earthstoneenergy.com
Company Research
Source: PR Newswire
Expands Operations in Highly Economic Northern Delaware Basin AreaTHE WOODLANDS, Texas, Aug. 10, 2022 /PRNewswire/ -- Earthstone Energy, Inc. (NYSE: ESTE) ("Earthstone", the "Company", "our" or "we"), today announced the closing of the acquisition of the New Mexico assets of Titus Oil & Gas Production, LLC and Titus Oil & Gas Production II, LLC and their affiliates (collectively, "Titus") located in the northern Delaware Basin (the "Titus Acquisition").The Company also announced the closing of an amendment to the Company's senior secured credit facility (the "Credit Facility"), which, amongst other things, increased the borrowing base from $1.4 billion to $1.7 billion, increased commitments from $800 million to $1.2 billion and introduced a term loan tranche ("Term Loan") to the Credit Facility as a portion of the $1.2 billion of current commitments. Consideration for the Titus Acquisition was $575 million in cash and approximately 3.9 million shares of Earthstone's Class A common sto
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