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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES        
Oil $ 38,791 $ 25,733 $ 105,111 $ 59,815
Natural gas 1,790 2,513 6,257 6,338
Natural gas liquids 5,495 3,036 12,753 6,249
Total revenues 46,076 31,282 124,121 72,402
OPERATING COSTS AND EXPENSES        
Lease operating expense 4,843 5,407 14,509 14,990
Severance taxes 2,254 1,588 6,115 3,705
Impairment expense 833 92 833 66,740
Depreciation, depletion and amortization 12,842 10,330 33,362 28,258
General and administrative expense 4,944 7,295 18,809 19,483
Transaction costs 892 109 892 4,676
Accretion of asset retirement obligation 44 72 128 378
Total operating costs and expenses 26,652 24,893 74,648 138,230
Gain on sale of oil and gas properties 4,096 2,157 4,608 3,848
Income (loss) from operations 23,520 8,546 54,081 (61,980)
OTHER INCOME (EXPENSE)        
Interest expense, net (565) (903) (1,788) (1,873)
Write-off of deferred financing costs 0 0 0 (526)
(Loss) gain on derivative contracts, net (17,481) (3,663) (33,606) 4,137
Litigation settlement (4,775) 0 (4,775) 0
Other income, net 37 (66) 434 (34)
Total other income (expense) (22,784) (4,632) (39,735) 1,704
Income (loss) before income taxes 736 3,914 14,346 (60,276)
Income tax (expense) benefit (172) 94 (119) 10,046
Net income (loss) 564 4,008 14,227 (50,230)
Net income attributable to noncontrolling interest 340 2,452 8,032 (35,392)
Net income (loss) attributable to Earthstone Energy, Inc. $ 224 $ 1,556 $ 6,195 $ (14,838)
Net income (loss) per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ 0.01 $ 0.07 $ 0.22 $ (0.66)
Diluted (in dollars per share) $ 0.01 $ 0.07 $ 0.22 $ (0.66)
Weighted average common shares outstanding:        
Basic (in shares) 28,257,376 22,905,023 28,011,298 22,638,977
Diluted (in shares) 28,311,759 22,905,023 28,108,365 22,638,977