Warburg Pincus Private Equity (E&P) XI-A, L.P. Form 4 Filed 2021-01-12

FORM 4

☐	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*

Warburg Pincus Private Equity (E&P) XI-A, L.P.

2. Issuer Name and Ticker or Trading Symbol
EARTHSTONE ENERGY INC [ESTE]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

C/O WARBURG PINCUS LLC, 450 LEXINGTON AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2021

(Street)

NEW YORK, NY 10017

(City)

(State)

(Zip)

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check applicable line)

______ Form Filed by One Reporting Person
__X__ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	01/07/2021		P		638,744	A	$3.99	13,358,338	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾
Class A Common Stock	01/07/2021		J⁽⁵⁾		120,228	D	$ 0	13,238,110	I	See footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Warburg Pincus Private Equity (E&P) XI-A, L.P. C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
Warburg Pincus XI (E&P) Partners - A, L.P. C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
WP IRH Holdings, L.P. C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
Warburg Pincus XI (E&P) Partners-B IRH, LLC C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
WARBURG PINCUS XI (E&P) PARTNERS-B, L.P. C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
WARBURG PINCUS (E&P) XI, L.P. C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
WARBURG PINCUS (E&P) XI LLC C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
WARBURG PINCUS PARTNERS (E&P) XI LLC C/O WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X
WARBURG PINCUS LLC 450 LEXINGTON AVENUE NEW YORK, NY 10017		X

Explanation of Responses:

1.	Following the transactions reported herein, includes: 2,123,393 shares held of record by Warburg Pincus Private Equity (E&P) XI - A, L.P. ("WP E&P XI A"), 163,270 shares held of record by Warburg Pincus XI (E&P) Partners - A, L.P. ("WP XI E&P Partners A"), 2,068,675 shares held of record by WP IRH Holdings, L.P. ("WP IRH Holdings"), 57,365 shares held of record by Warburg Pincus XI (E&P) Partners-B IRH, LLC ("WP XI E&P Partners B IRH"), 3,179,794 shares held of record by WP Energy IRH Holdings, L.P. ("WPE IRH Holdings"), 260,350 shares held of record by WP Energy Partners IRH Holdings, L.P. ("WPE Partners IRH Holdings"), 101,492 shares held of record by Warburg Pincus Energy (E&P) Partners-B IRH, LLC ("WPE E&P Partners B IRH"), 300,946 shares held of record by Warburg Pincus Energy (E&P) Partners-A, L.P. ("WPE E&P Partners A") and 4,982,825 shares held of record by Warburg Pincus Energy (E&P)-A, L.P. ("WPE E&P A").
2.	Warburg Pincus XI (E&P) Partners - B, L.P. ("WP XI E&P Partners B") is the general partner of WP XI E&P Partners B IRH. Warburg Pincus (E&P) XI, L.P. ("WP XI E&P GP") is the general partner of WP E&P XI A, WP XI E&P Partners A, WP IRH Holdings, and WP XI E&P Partners B. Warburg Pincus (E&P) XI LLC ("WP XI E&P GP LLC") is the general partner of WP XI E&P GP. Warburg Pincus Partners (E&P) XI LLC ("WPP E&P XI") is the managing member of WP XI E&P GP LLC.
3.	Warburg Pincus Energy (E&P) Partners-B, L.P. ("WPE E&P Partners B") is the general partner of WPE E&P Partners B IRH. Warburg Pincus (E&P) Energy GP, L.P. ("WPE E&P GP") is the general partner of WPE IRH Holdings, WPE Partners IRH Holdings, WPE E&P Partners B, WPE E&P Partners A, and WPE E&P A. Warburg Pincus (E&P) Energy LLC ("WPE E&P GP LLC") is the general partner of WPE E&P GP.
4.	Warburg Pincus Partners II (US), L.P. ("WPP II US") is the managing member of WPP E&P XI and WPE E&P GP LLC. Warburg Pincus & Company US, LLC ("WP & Co. US LLC") is the general partner of WPP II US. Warburg Pincus LLC ("WP LLC") is a registered investment adviser, and the manager of WP E&P XI A, WP XI E&P Partners A, WPE E&P Partners A, and WPE E&P A.
5.	Immediately following the acquisition of shares of Class A Common Stock reported herein, Independence Resources Holdings, LLC disposed of all of its shares of Class A Common Stock in a pro-rata distribution in-kind to its members for no consideration.
Remarks: Due to the limitations of the electronic filing system certain Reporting Persons are filing a separate Form 4.

	Signatures
	Warburg Pincus Private Equity (E&P) XI - A, L.P. By: Warburg Pincus & Company US, LLC By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus XI (E&P) Partners - A, L.P. By: Warburg Pincus & Company US, LLC By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	WP IRH Holdings, L.P. By: Warburg Pincus & Company US, LLC, By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus XI (E&P) Partners-B IRH, LLC By: Warburg Pincus & Company US, LLC By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus XI (E&P) Partners - B, L.P., By: Warburg Pincus & Company US, LLC, By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus (E&P) XI, L.P. By: Warburg Pincus & Company US, LLC, By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus (E&P) XI LLC By: Warburg Pincus & Company US, LLC, By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus Partners (E&P) XI LLC By: Warburg Pincus & Company US, LLC, By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	Warburg Pincus LLC By: /s/ Robert B. Knauss, Authorized Signatory	01/11/2021
	** Signature of Reporting Person	Date
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