Earthstone Energy, Inc. Announces Increased Borrowing Base of $80 Million

Earthstone Energy, Inc. Announces Increased Borrowing Base of $80 Million

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THE WOODLANDS, Texas

Earthstone Energy, Inc. (NYSE MKT: ESTE) ("Earthstone"), today announced that, as a result of its lenders' semiannual review, the borrowing base under its revolving credit facility has been increased from $75.0 million to $80.0 million. Utilization currently includes $10.0 million of indebtedness and $0.2 million of letters of credit. The facility matures on December 19, 2018.

About Earthstone Energy, Inc.

Earthstone Energy, Inc. is a growth-oriented independent oil and gas exploration and production company engaged in developing and acquiring oil and gas reserves through an active and diversified program that includes acquiring, drilling and developing undeveloped leases, asset and corporate acquisitions and exploration activities, with its current primary assets located in the Midland Basin of west Texas, the Eagle Ford trend of south Texas, and the Williston Basin of North Dakota. Earthstone is traded on NYSE MKT under the symbol "ESTE." Information on Earthstone can be found at www.earthstoneenergy.com. The Company's corporate headquarters is located in The Woodlands, Texas.

Contact:

Neil K. Cohen
Vice President, Finance and Treasurer
Earthstone Energy, Inc.
1400 Woodloch Forest Drive, Suite 300
The Woodlands, TX 77380
281-298-4246