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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Revenues $ 44,542 $ 37,150 $ 85,270 $ 78,045
OPERATING COSTS AND EXPENSES        
Lease operating expense 8,605 5,009 15,272 9,666
Severance taxes 2,109 1,824 4,097 3,861
Depreciation, depletion and amortization 14,197 10,812 28,202 20,520
General and administrative expense 7,028 7,286 14,298 13,865
Transaction costs 0 0 175 0
Accretion of asset retirement obligation 54 43 108 84
Total operating costs and expenses 31,993 24,974 62,152 47,996
(Loss) gain on sale of oil and gas properties (201) 63 (326) 512
Income from operations 12,348 12,239 22,792 30,561
OTHER INCOME (EXPENSE)        
Interest expense, net (1,677) (610) (3,126) (1,223)
Gain (loss) on derivative contracts, net 9,496 (10,850) (38,398) (16,125)
Other (expense) income, net (18) 391 (22) 397
Total other income (expense) 7,801 (11,069) (41,546) (16,951)
Income (loss) before income taxes 20,149 1,170 (18,754) 13,610
Income tax (expense) benefit (613) 302 (153) 53
Net income (loss) 19,536 1,472 (18,907) 13,663
Net loss attributable to noncontrolling interest 10,759 822 (10,480) 7,692
Net income (loss) attributable to Earthstone Energy, Inc. $ 8,777 $ 650 $ (8,427) $ 5,971
Net income (loss) per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ 0.30 $ 0.02 $ (0.29) $ 0.21
Diluted (in dollars per share) $ 0.30 $ 0.02 $ (0.29) $ 0.21
Weighted average common shares outstanding:        
Basic (in shares) 28,895,893 27,987,509 28,808,205 27,886,220
Diluted (in shares) 29,228,886 28,036,052 28,808,205 27,967,421
Oil        
REVENUES        
Revenues $ 40,767 $ 31,903 $ 76,214 $ 66,320
Natural gas        
REVENUES        
Revenues 129 1,783 1,223 4,467
Natural gas liquids        
REVENUES        
Revenues $ 3,646 $ 3,464 $ 7,833 $ 7,258