real-time news and commentary for investors
Monday, Sep 9
Earthstone Energy fails to find sufficient oil at Nebraska well
- Earthstone Energy (ESTE -2.4%), attempting to drill for oil in western Nebraska, suspended operations at the test well it drilled.
- ESTE says the 6,550-ft. well produced some oil but not enough to justify building production facilities; the company will take 30 days to assess its options, which may include capping and abandoning the well.
- ESTE still plans to drill one or two more wells in the area in the next 18 months.