EARTHSTONE ENERGY INC: management transactions · United States · SEC (Form 4)

About EARTHSTONE ENERGY INC

Earthstone Energy Inc. (ticker: ESTE) was a U.S. independent oil and gas company historically listed on the NYSE in the United States under the symbol ESTE. Before its acquisition, the company operated as an upstream producer focused on the acquisition, development, and optimization of onshore hydrocarbon assets rather than refining or downstream marketing. SEC filings describe Earthstone as a Delaware corporation formed in 1969, with a long-standing growth strategy built around lease development, drilling, asset acquisitions, and, at times, corporate mergers. In other words, it was a classic Permian-focused E&P name with a portfolio designed to generate value through reserve replacement and operational execution. Geographically, Earthstone’s footprint was concentrated entirely in the United States, with core assets primarily in the Midland Basin of West Texas and the Delaware Basin in southeastern New Mexico. Earlier in its history, the company also had exposure to other onshore oil plays such as the Eagle Ford. Its operational headquarters were in The Woodlands, Texas, a common hub for U.S. energy companies. This location, combined with its asset base, positioned Earthstone squarely within the North American shale ecosystem and made it sensitive to commodity pricing, drilling efficiency, and the economics of horizontal development. From a business-model perspective, Earthstone generated revenues from crude oil, natural gas, and natural gas liquids produced from its acreage. Its competitive position was driven by inventory quality, well productivity, capital discipline, and its ability to integrate bolt-on acquisitions into an already active drilling program. The company competed with other independent producers in the Permian Basin, one of the most attractive oil-producing regions in the U.S. Because it was an upstream producer, Earthstone’s financial profile was highly levered to oil and gas prices, realized differentials, and the pace of drilling and completion activity. The most important recent corporate event is that Earthstone was acquired by Permian Resources Corporation, and the transaction closed on November 1, 2023. As a result, Earthstone ceased to exist as a standalone public issuer, and its operations were folded into Permian Resources’ consolidated financial statements. That means the ESTE equity story is now largely historical for public-market investors, although it remains relevant for SEC research, legacy filings, and Form 4 insider transaction analysis. For investors in France, Belgium, and Switzerland, the key takeaway is that Earthstone Energy was a U.S. NYSE-listed upstream oil and gas company with a Permian-focused asset base, but its standalone market presence ended with the Permian Resources acquisition.