Earthstone Energy completed the acquisition of the Midland Basin assets of Tracker Resource Development for $126m.

Earthstone Energy, a growth-oriented, independent energy company, completed the acquisition of the Midland Basin assets of Tracker Resource Development, which explores and produces oil and gas, for $126m. "Our conservative approach to funding acquisitions with an appropriate mix of debt and equity has allowed us to maintain strong liquidity and low leverage while building significant scale. We expect to have nearly doubled our daily production volumes compared to 2020 levels, all while adding minimal G&A. The combination of continued improvements in operational and corporate efficiencies has allowed us to continue to drive down per unit costs, as we aim to maximize margins," Robert J. Anderson, Earthstone President and CEO.