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  "docSlug": "21b000380e2e6403109cb4ed2eaf31f7",
  "documentTitle": "Earthstone Energy | Investor Presentation Deck | 26 slides",
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  "authorName": "Earthstone Energy",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-10-01 00:00:00",
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  "pageNumber": 13,
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  "density": "dense",
  "nDataPoints": 6,
  "notes": "The chart uses a 'mountain' metaphor to visualize cumulative FCF growth.",
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      "kind": "callout",
      "text": "Significant FCF generation exceeds current market cap",
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      "kind": "chart",
      "text": "Free Cash Flow Outlook Under Maintenance Capital Program",
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      "kind": "disclaimer",
      "text": "1. FCF estimates based upon a maintenance capital scenario that holds production for 2023+ approximately flat with 2H22 current guidance levels at NYMEX strip pricing as of 7/27/22. Free cash flow is a non-GAAP measure defined as Adjusted EBITDAX less interest expense less capital expenditures (accrual basis). Market Capitalization based on ESTE stock price as of 8/30/22. See appendix for additional notes. 2. Based on current shares outstanding, adjusted for the Titus Acquisition closing.",
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      "kind": "list",
      "text": "Reliable Production and Reduced Capital Needs Provide a \"Mountain\" of FCF. Based upon a continuous maintenance capital scenario, recent strip pricing generates more than $3.0 B in cumulative FCF by 2026. Increased scale, cash flow, and relative debt ratios support credit rating improvement and lower corporate cost of capital over time.",
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      "kind": "title",
      "text": "Durable Multi-Year Free Cash Flow Profile Provides Extensive Options",
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