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MarketScreener Homepage  >  Equities  >  Nyse  >  Earthstone Energy, Inc.    ESTE

EARTHSTONE ENERGY, INC.

(ESTE)
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Earthstone Energy : Announces Officer Appointments

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01/30/2020 | 04:09pm EDT

Frank A. Lodzinski Appointed Executive Chairman
Robert J. Anderson Appointed Chief Executive Officer

Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our” or “we”), today announced that its current Chairman and Chief Executive Officer, Mr. Frank A. Lodzinski, will be appointed Executive Chairman and its current President, Mr. Robert J. Anderson, will be appointed Chief Executive Officer and President of Earthstone, effective on April 1, 2020.

Mr. Lodzinski stated, “Since joining me in 2004, Robert has demonstrated his highly capable leadership in a variety of increasingly important roles. Together, with the assistance of our other talented executives and staff, we have worked together to build and sell two prior profitable companies. We will continue the profitable growth of Earthstone, stressing shareholder returns, low leverage, cost control and operational excellence. Based on his experience, capability and vision, I have complete confidence in Robert’s ability to lead the Company on behalf of our shareholders. I speak for the full Board of Directors and our staff in congratulating Robert on his appointment and I look forward to remaining an integral part of the team.”

Mr. Douglas E. Swanson, Jr., a member of the Earthstone Board of Directors and Managing Partner at EnCap Investments L.P., commented, “We are pleased to announce the appointment of Frank as Executive Chairman and Robert as Chief Executive Officer. The full Board of Directors would like to thank Frank for his leadership and continuing contribution. We know that Robert will further the Company’s high standards of performance, and we fully support Earthstone pursuing and completing a significant transaction to increase scale and further our objective of consolidating assets.”

Mr. Anderson stated, “It is my honor to take on the role of Chief Executive Officer of Earthstone. I look forward to leading the Company and will embrace the principles that have made us successful. We will continue to align our efforts with our shareholders, work on their behalf and maintain our high standards of performance and excellence in all of our activities. I would like to thank the Board for this opportunity and Frank for his guidance and leadership of Earthstone as Chief Executive Officer. The foundation we have built under Frank’s direction will serve all our stakeholders well as we strive for future value creation.”

Mr. Anderson has served as President of Earthstone since April 2018 and prior to that served as Executive Vice President, Corporate Development and Engineering from December 2014 until his appointment as President. Mr. Anderson’s extensive career includes over 30 years of industry experience in multiple roles ranging from petroleum engineer to executive at a variety of major and independent oil and gas producers including GeoResources, Inc., AROC, Inc., Anadarko Petroleum Corporation, and Vastar Resources/ARCO International. Mr. Anderson has a B.S. degree in Petroleum Engineering from the University of Wyoming and an MBA from the University of Denver.


© Business Wire 2020
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Financials (USD)
Sales 2020 188 M
EBIT 2020 56,9 M
Net income 2020 25,0 M
Debt 2020 88,0 M
Yield 2020 -
P/E ratio 2020 2,95x
P/E ratio 2021 4,59x
EV / Sales2020 0,75x
EV / Sales2021 1,05x
Capitalization 52,2 M
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Earthstone Energy, Inc. Technical Analysis Chart | ESTE | US27032D3044 | MarketScreener
Technical analysis trends EARTHSTONE ENERGY, INC.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 10
Average target price 3,81  $
Last Close Price 1,77  $
Spread / Highest target 182%
Spread / Average Target 115%
Spread / Lowest Target 13,0%
EPS Revisions
Managers
NameTitle
Frank Alan Lodzinski Chairman & Chief Executive Officer
Robert John Anderson President
Steven C. Collins Executive Vice President-Operations & Completions
Mark Lumpkin Chief Financial Officer & Executive Vice President
Raymond J. Singleton Director
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