Earthstone Energy, Inc. has resumed its Eagle Ford development program and announces plans for rest of the year.
Earthstone Energy recently announced its first quarter results, including an average daily production of approximately approximately 9,515 Boepd (66% oil, 81% liquids). Capital expenditures for the quarter totaled approximately $4.2 million.
The Woodlands-based company also reported it resumed its Eagle Ford development program in March. Plans for the rest of 2017 include drilling and completing 11 gross / 4.8 net wells in Gonzales County in 2017 at an estimated total net cost of $23.0 million.
In a quarterly earnings call, Earthstone executives spoke primarily about their newly acquired assets in the Midland Basin, where the company has 27,000 net acres and is running one rig.