Earthstone Energy, Inc. Announces Increase in Borrowing Base
Earthstone Energy, Inc. Class A (ESTE)
NASDAQ:AMEX Investor Relations:
investor.earthstoneenergy.com
Company Research
Source: PR Newswire
THE WOODLANDS, Texas, Sept. 20, 2021 /PRNewswire/ -- Earthstone Energy, Inc. (NYSE: ESTE) ("Earthstone", the "Company", "we" or "our"), today announced that it has entered into an amendment to its senior secured revolving credit facility ("Credit Facility") under which the borrowing base has been increased from $550 million to $650 million in connection with its regularly scheduled semi-annual redetermination.As of August 31, 2021, we had an estimated $1.2 million in cash and $286.6 million of long-term debt outstanding under our Credit Facility. Adjusted for the increase in the borrowing base to $650 million, we had $363.4 million of undrawn borrowing base capacity and $1.2 million in cash, resulting in total liquidity of approximately $364.6 million. Robert J. Anderson, Earthstone's President and CEO, commented, "We greatly appreciate the continued support of our lending group as we have been successfully executing our strategy of consolidating assets to increase scale and efficien
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