Followers | 76 |
Posts | 3712 |
Boards Moderated | 0 |
Alias Born | 10/23/2010 |
![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, March 24, 2011 2:28:03 PM
DENVER, March 24, 2011 /PRNewswire/ -- EARTHSTONE ENERGY, INC. (Nasdaq:ESTE - News) reported that it has acquired an interest in another producing well in Montana. The Onstad 22-14 is located in the Divide Field in Sheridan County. The well has been shut-in for over three years, but produced approximately 15 to 20 barrels of oil per day when it was running. Earthstone acquired a 25% working interest in the well for approximately $38,000. Because of water production, the well is economically marginal; the majority of purchased value lying in capital equipment and Bakken lease rights. The spacing unit associated with the well is 320 acres. The Company previously disclosed the purchase of five producing wells in Sheridan County in January 2011.
"We are pleased to announce the acquisition of what we believe is another under-managed property," commented Ray Singleton, President of Earthstone Energy, Inc. "If, as we expect, we can overcome water disposal issues, we believe we can restore this well to production. Furthermore, based on its location and other enhancements we are pursuing in the area, we believe the value of this well will become much more substantial, especially as the horizontal Bakken play develops in this area of the county."
ABOUT EARTHSTONE ENERGY:
Earthstone Energy, Inc. is an independent oil and gas exploration and production company with primary operations in the Williston Basin, the Denver-Julesburg Basin in Colorado, southern Texas and the Gulf Coast area. Earthstone is currently traded on NASDAQ Capital Markets under the symbol ESTE. Information on Earthstone can be found at its web site: www.earthstoneenergy.com
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My resume is real time on Twitter @TurnKeyOil.
Recent ESTE News
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 02:01:57 PM
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 11/13/2023 09:16:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 11/07/2023 05:15:24 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 09:13:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/03/2023 09:12:41 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/03/2023 09:05:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:28:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:23:07 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:23:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:21:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:20:31 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:20:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:18:32 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:17:53 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:16:27 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/03/2023 01:15:59 AM
- Form POSASR - Post-effective Amendment to an automatic shelf registration statement • Edgar (US Regulatory) • 11/01/2023 09:29:27 PM
FEATURED North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • Jul 18, 2024 9:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM