Earthstone Energy, Inc. (NYSE:ESTE) Q4 2022 Earnings Conference Call March 9, 2023 11:00 AM ET

Company Participants

Robert Anderson - CEO, President & Director

Steven Collins - EVP & COO

Mark Lumpkin - EVP & CFO

Clay Jeansonne - Director, IR

Conference Call Participants

Neal Dingmann - Truist Securities

Austin Aucoin - Johnson Rice & Company

Subhasish Chandra - The Benchmark Company

Operator

Good morning, and welcome to Earthstone Energy's conference call. . Joining us today from Earthstone are Robert Anderson, President and Chief Executive Officer; Mark Lumpkin, Executive Vice President and Chief Financial Officer; Steve Collins, Executive Vice President and Chief Operating Officer; and Scott Thelander, Vice President of Finance.

I'll now turn the call over to Clay Jeansonne, Director of Investor Relations. Please go ahead.

Clay Jeansonne

Thank you, and welcome to our fourth quarter and full year 2022 earnings conference call.

Before we get started, I'd like to remind you that today's call will contain forward-looking statements within the meaning of federal securities law. Although management believes these statements are based on reasonable expectations, they can give no assurances that they will prove to be correct. These statements are subject to certain risks, uncertainties and assumptions as described in our annual report on Form 10-K for the year ended December 31, 2022, and the fourth quarter and full year 2022 earnings announcement. These documents can be found in the Investors section of our website, www.earthstoneenergy.com. Should one or more of these risks materialize or should underlying assumptions prove incorrect, actual results may vary materially.

This conference call also includes references to certain non-GAAP financial measures. Reconciliation of these non-GAAP financial measures to the most directly comparable measure under GAAP are contained in our earnings announcement issued yesterday. Also, please note information recorded on this call speaks only as of today. March 9, 2023. Therefore, any time-sensitive information may no longer be accurate at the time of any replay listening or transcript reading.

Today's call will begin with comments from Robert Anderson, our President and CEO, followed by remarks from Steve Collins, our COO, and Mark Lumpkin, our CFO, and then we'll have some closing comments from Robert.

I'll turn the call over to Robert.

Robert Anderson

Thanks, Clay, and good morning, everyone. I appreciate you all taking time to join the call or listen via the web.

Over the past few years, even prior to COVID, Earthstone's board and management team recognize the importance of scale and we have been on a mission to strategically position the company as a significant operator in the Permian Basin, and as you all know, the most prolific and lowest breakeven onshore basin in the United States. We went down a targeted path of identifying, evaluating and executing upon strategic opportunities to grow our business prudently. Our success in these efforts, including during this past year, where we invested over $2 billion directly reflects our outstanding employees' hard work and perseverance.