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Content analysis
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New words:
add, adjoining, Arabia, Asia, ban, banning, Boepd, CAA, carrier, citizenry, constitute, constrained, coupled, crystalline, customarily, cutting, defrauded, Democratic, disaggregation, disciplined, DOT, downside, drained, drastic, drove, DUC, extraordinary, fossil, Geoffrey, Hamman, headcount, imbalance, implicit, indefinite, inlet, introduced, LDAR, length, LIBO, LNG, lobbying, manufactured, MBTA, meaningful, migration, MTBA, NCI, nearby, newer, outbreak, pleading, preceding, prosecution, Ratliff, Rice, roadway, rose, Saudi, scientific, Senate, sharp, sharply, silica, spud, SunTrust, threat, tracking, unconditional, undrawn, unsatisfied, vapor, Vernon, vicinity, WDA, wet
Removed:
actively, advantage, Africa, arranger, Bakken, BLM, Bureau, challenging, comment, Computer, Concurrent, Convention, converted, deducting, Diasu, diluted, dismissed, expand, Florida, forma, Geographical, GP, HBP, illustrative, Indian, Interbank, judgement, LIBOR, line, London, Mury, NEPA, offering, Oklahoma, OVR, Pennsylvania, phase, profit, purport, Recapitalization, retrospective, slickwater, step, Texaco, unclear, Wainoco, Williston
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Exhibit 23.1
CAWLEY, GILLESPIE & ASSOCIATES, INC.
PETROLEUM CONSULTANTS
| 13640 BRIARWICK DRIVE, SUITE 100 | 306 WEST SEVENTH STREET, SUITE 302 | 1000 LOUISIANA STREET, SUITE 1900 |
| AUSTIN, TEXAS 78729-1707 | FORT WORTH, TEXAS 76102-4987 | HOUSTON, TEXAS 77002-5008 |
| 512-249-7000 | 817- 336-2461 | 713-651-9944 |
CONSENT OF INDEPENDENT PETROLEUM ENGINEERS
The undersigned hereby consents to the references to our firm in the form and context in which they appear in the Annual Report on Form 10-K of Earthstone Energy, Inc. for the year ended December 31, 2019, as well as in the notes to the financial statements included therein. We also hereby consent to the incorporation by reference of the references to our firm, in the context in which they appear, and to our reserves report dated January 27, 2020 into the Registration Statements on Form S-3 (File Nos. 333-218277 and 333-224334) and Form S-8 (File Nos. 333-210734, 333-221248 and 333-227720) filed with the U.S. Securities and Exchange Commission.
| Sincerely, |  |
/s/ W. Todd Brooker | |
W. Todd Brooker, P.E. President Cawley, Gillespie & Associates, Inc. | |
| Texas Registered Engineering Firm F-693 | |
| March 11, 2020 | |