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  "documentTitle": "Earthstone Energy | Investor Conference Presentation Deck | 32 slides",
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      "text": "Since YE 2020, ESTE has built significant scale across eight transactions\nPF 4Q23 ESTE at ~132.5 Mboe/d is similar size with Permian peers MTDR, SM, PR, and CPE\nAdded scale further accelerates free cash flow generation and financial flexibility\nAcquired inventory enhances development optionality across Delaware and Midland",
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      "text": "ESTE Acreage Pre-2021\nAcquired Acreage 2021-2023\nNovo Acreage",
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      "text": "1. Based on ESTE estimates; PV-10 as of 7/1/21 based on NYMEX strip pricing as of 9/30/21 for Foreland, as of 11/1/21 based on NYMEX strip pricing as of 12/8/21 for Chisholm, as of 1/1/22 based on NYMEX strip pricing as of 1/18/22 for\nBighorn, as of 8/1/22 based on NYMEX strip prices as of 6/17/22 for Titus, and as of 5/1/23 based on NYMEX strip prices as of 5/24/23 for Novo.\n2. Earthstone management estimate of locations across all reserve categories, defined as locations that are estimated to generate at least a 10% rate of return at NYMEX $70/bbl and $3.00/mmBtu.",
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      "text": "Acquisition Price ($MM) $2,473 $1,000 $3,473\nConsideration Mix (% Cash / % Stock) 70% / 30% 100% / 0% 79% / 21%\nAcquired PD PV-10 ($MM)1 $2,732 $912 $3,644\nAcquired Net Acreage (000's) ~228.3 ~11.3 ~239.6\nAcquired Gross Locations2 ~700 ~200 ~900",
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      "text": "Delaware Acquisitions\nCHISHOLM ENERGY $604MM December 2021\nTITUS $627MM June 2022\nNOVO $1,000MM June 2023",
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      "text": "Midland Acquisitions\nINDEPENDENCE $182MM December 2020\nTRACKER $127MM April 2021\nForeland $73MM October 2021\nBIGHORN PERMIAN RESOURCES $860MM January 2022",
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