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Baker Hughes' (BKR) data shows that the tally for oil drilling rigs in the Permian basin decreased after increasing for two straight weeks.
Does Earthstone Energy (ESTE) have what it takes to be a top stock pick for momentum investors? Let's find out.
Baker Hughes' (BKR) data shows that the count of oil and gas rigs in the United States has increased for two straight weeks.
Earthstone paid $48 million for additional working interests in its operated Eagle Ford assets. This adds around 1,000 BOEPD (89% oil) in estimated 2H 2021 production.
5 Top Stocks to Capitalize on U.S. Upstream Industry's Bullishness
Energy companies Earthstone Energy (ESTE), SilverBow (SBOW) and PetroChina (PTR) still have upside potential after gaining considerably year to date.
Baker Hughes' (BKR) data shows that the count of oil and gas rigs in the United States has increased in six of the past seven weeks.
THE WOODLANDS, Texas, June 14, 2021 /PRNewswire/ -- Earthstone Energy, Inc. (NYSE: ESTE) ("Earthstone" or the "Company") today announced that it has acquired working interests in assets it operates l
Rising oil price continues to aid Earthstone (ESTE). Also, the company's strong cost-reduction initiatives are aiding the bottom line.
It is an opportune moment to buy oil stocks as demand for the commodity is gradually approaching pre-pandemic levels. CLR, CPE, ESTE and OAS are well poised to cash in on the crude rally.
WTI is now on an upswing, with the U.S. benchmark lingering above $66 a barrel, thereby boosting the bottom line of upstream businesses.
Earthstone Energy (ESTE) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

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Earthstone Energy, Inc. (ESTE) CEO Robert Anderson on Q1 2021 Results - Earnings Call Transcript
The acquisition by Earthstone Energy of the Tracker acreage is advantageous to the existing shareholders.
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