{
  "docId": "019de516-5e25-72cf-957b-fedc96b86111",
  "docSlug": "abb3cbf69ccd88c0c83bc1e46470991b",
  "documentTitle": "Earthstone Energy | Investor Conference Presentation Deck | 32 slides",
  "authorId": "earthstone-energy",
  "authorName": "Earthstone Energy",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 9,
  "pageCount": 32,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "kpi_overview",
  "function": "quantify_opportunity",
  "density": "overcrowded",
  "nDataPoints": 10,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019de516-5e25-72cf-957b-fedc96b86111/9",
  "deckHref": "/decks/019de516-5e25-72cf-957b-fedc96b86111",
  "deckJsonHref": "/decks/019de516-5e25-72cf-957b-fedc96b86111.json",
  "deckAnchorHref": "/decks/019de516-5e25-72cf-957b-fedc96b86111#slide-9",
  "components": [
    {
      "bbox": {
        "h": 0.4,
        "w": 0.35,
        "x": 0.34,
        "y": 0.45
      },
      "kind": "chart",
      "text": "Gross Locations by PUD/PROB/POSS³\n~1,020 Gross Operated Locations\nProved Undeveloped, Probable/Possible",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "357d23bc-6da7-41a0-925d-e91178cb736f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.03,
        "y": 0.45
      },
      "kind": "chart",
      "text": "Gross Locations by County³\n~1,020 Gross Operated Locations\nReagan / Irion, Upton, Midland / Ector, Culberson, Eddy, Lea, 65% New Mexico",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e916189b-6f56-4d33-af50-67595ff81219",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.3,
        "x": 0.65,
        "y": 0.45
      },
      "kind": "chart",
      "text": "Pro Forma 1P Reserves as of 5/1/234\n460 MMBoe\n24% PD, 76% PUD",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ef33e920-0d3d-4d4c-88a4-a6b55b23aca3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.48,
        "x": 0.05,
        "y": 0.35
      },
      "kind": "list",
      "text": "~1,020 gross operated drilling locations (~69% Delaware, ~31% Midland) provide significant runway for future development and maintains basin optionality³",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "02435816-3fe3-4d55-a08a-8ab062eaaf88",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.48,
        "x": 0.05,
        "y": 0.19
      },
      "kind": "list",
      "text": "The Novo assets bolster Earthstone's inventory, adding 111 net MMBoe of 1P reserves (62% liquids)¹",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "824b5da9-1d58-4db3-baf8-e344dc38d693",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.48,
        "x": 0.05,
        "y": 0.27
      },
      "kind": "list",
      "text": "~$4.6 billion PV-10 of Proved Developed Reserves, which exceeds Earthstone's pro forma enterprise value²",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea68210c-0207-4fd8-9436-e5f8b6f1ae91",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.93,
        "x": 0.04,
        "y": 0.88
      },
      "kind": "source-note",
      "text": "1. CG&A estimate of Novo proved reserve volumes as of 5/1/23 utilizing NYMEX strip pricing as of 5/24/23, discounting cash flows at a rate of 10%.\n2. Based on $1.0 billion net purchase price and ESTE share price of $12.73 as of 6/2/23.\n3. 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 $3.00/mmBtu.\n4. Earthstone management estimate of Earthstone's total proved reserve volumes and values as of 5/1/23 utilizing NYMEX strip prices as of 5/24/23, plus CG&A estimates of Novo total proved reserve volumes and values as of 5/1/23 utilizing NYMEX strip pricing as of 5/24/23, discounting cash flows at a rate of 10%.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4eb09f20-380f-45ce-b5fc-60f27a5f64fe",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.27,
        "w": 0.45,
        "x": 0.51,
        "y": 0.13
      },
      "kind": "table",
      "text": "Pro Forma 1P PV-10 Value as of 5/1/234\nPV-10 Value ($MM)\nProved Developed $4,628\nProved Undeveloped $754\nTotal Proved $5,383",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7822572a-5603-4a5a-9ec8-6a69732284c3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.49,
        "x": 0.04,
        "y": 0.06
      },
      "kind": "title",
      "text": "Reserves and Inventory | Earthstone + Novo",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e6483c00-3d5f-4cd9-82d7-940f52e0d42c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 12,
      "from": 6,
      "beatId": "f7796245-8aac-4708-a05c-e1b38050ac8b",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Solution",
      "beatSlug": "sequoia-pitch-solution",
      "evidence": "The presentation showcases the highly accretive Novo transaction and its benefits for shareholder value creation.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 12,
      "from": 6,
      "name": "Zoom In",
      "slug": "06-zoom-in",
      "bestFor": "Technical deep-dives, case studies, detailed analysis",
      "matchId": "e091662b-0a6b-480e-b277-58accfe260a9",
      "evidence": "The presentation provides detailed information about the acquisition and its financial implications.",
      "position": 0,
      "objective": "To highlight the benefits of the Novo acquisition",
      "structure": "The Big Picture -> Key Area of Focus -> Specific Detail -> Implication",
      "confidence": 0.7,
      "description": "Start broad, then progressively focus on specific details that prove your point"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}