Private equity firm Warburg Pincus LLC sold its remaining 12.9 million shares of Earthstone Energy Inc.’s Class A common stock, increasing Earthstone’s stock float by approximately 25%, according to an Aug. 7 press release.
"We appreciate the opportunity to have partnered with Warburg Pincus over the past several years and thank them for their contribution to our growth and success," Robert J. Anderson, president and CEO of Earthstone, said in the release. "Warburg has efficiently sold its entire position of approximately 26.4 million shares of Class A Common stock in less than one calendar year."
Earthstone Energy is an independent energy company focused on the acquisition, development and operations of oil and natural gas assets in the Permian Basin.
Recommended Reading
E&P Highlights: Sep. 2, 2024
2024-09-03 - Here's a roundup of the latest E&P headlines, with Valeura increasing production at their Nong Yao C development and Oceaneering securing several contracts in the U.K. North Sea.
Breakthroughs in the Energy Industry’s Contact Sport, Geophysics
2024-09-05 - At the 2024 IMAGE Conference, Shell’s Bill Langin showcased how industry advances in seismic technology has unlocked key areas in the Gulf of Mexico.
Interoil to Boost Production in Ecopetrol Fields
2024-09-03 - Interoil will reopen shut-in wells at three onshore fields, which are under contract by Ecopetrol.
Chevron Boosts Oil, NatGas Recovery in Gulf of Mexico
2024-09-03 - Chevron’s Jack/St. Malo and Tahiti facilities have produced 400 MMboe and 500 MMboe, respectively.
CNOOC Makes Ultra-deepwater Discovery in the Pearl River Mouth Basin
2024-09-11 - CNOOC drilled a natural gas well in the ultra-deepwater area of the Liwan 4-1 structure in the Pearl River Mouth Basin. The well marks the first major breakthrough in China’s ultra-deepwater carbonate exploration.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.