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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Oil $ 31,903,000 $ 21,563,000 $ 66,320,000 $ 34,082,000
Natural gas 1,783,000 2,131,000 4,467,000 3,825,000
Natural gas liquids 3,464,000 2,083,000 7,258,000 3,213,000
Total revenues 37,150,000 25,777,000 78,045,000 41,120,000
OPERATING COSTS AND EXPENSES        
Lease operating expense 5,009,000 5,243,000 9,666,000 9,582,000
Severance taxes 1,824,000 1,327,000 3,861,000 2,117,000
Impairment expense 0 66,648,000 0 66,648,000
Depreciation, depletion and amortization 10,812,000 10,039,000 20,520,000 17,928,000
General and administrative expense 7,286,000 7,385,000 13,865,000 12,188,000
Transaction costs 0 3,764,000 0 4,567,000
Accretion of asset retirement obligation 43,000 154,000 84,000 306,000
Exploration expense 0 1,000 0 1,000
Total operating costs and expenses 24,974,000 94,561,000 47,996,000 113,337,000
Gain on sale of oil and gas properties 63,000 1,691,000 512,000 1,691,000
Income (loss) from operations 12,239,000 (67,093,000) 30,561,000 (70,526,000)
OTHER INCOME (EXPENSE)        
Interest expense, net (610,000) (633,000) (1,223,000) (970,000)
Write-off of deferred financing costs 0 (526,000) 0 (526,000)
(Loss) gain on derivative contracts, net (10,850,000) 3,340,000 (16,125,000) 7,800,000
Other income, net 391,000 31,000 397,000 32,000
Total other income (expense) (11,069,000) 2,212,000 (16,951,000) 6,336,000
Income (loss) before income taxes 1,170,000 (64,881,000) 13,610,000 (64,190,000)
Income tax benefit 302,000 9,914,000 53,000 9,952,000
Net income (loss) 1,472,000 (54,967,000) 13,663,000 (54,238,000)
Net income attributable to noncontrolling interest 822,000 (37,844,000) 7,692,000 (37,844,000)
Net income (loss) attributable to Earthstone Energy, Inc. $ 650,000 $ (17,123,000) $ 5,971,000 $ (16,394,000)
Net income (loss) per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ 0.02 $ (0.75) $ 0.21 $ (0.73)
Diluted (in dollars per share) $ 0.02 $ (0.75) $ 0.21 $ (0.73)
Weighted average common shares outstanding:        
Basic (in shares) 27,987,509 22,728,011 27,886,220 22,503,750
Diluted (in shares) 28,036,052 22,728,011 27,967,421 22,503,750