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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Revenues $ 21,663,000 $ 44,542,000 $ 66,801,000 $ 85,270,000
OPERATING COSTS AND EXPENSES        
Lease operating expense 5,588,000 8,005,000 14,927,000 14,066,000
Production and ad valorem taxes 1,479,000 2,709,000 4,502,000 5,303,000
Rig termination expense 426,000 0 426,000 0
Depreciation, depletion and amortization 22,902,000 14,197,000 47,558,000 28,202,000
Impairment expense 62,000 0 60,433,000 0
General and administrative expense 6,687,000 6,816,000 13,819,000 13,891,000
Transaction costs (463,000) 212,000 381,000 582,000
Accretion of asset retirement obligation 46,000 54,000 90,000 108,000
Exploration expense (3,000) 0 298,000 0
Total operating costs and expenses 36,724,000 31,993,000 142,434,000 62,152,000
(Loss) gain on sale of oil and gas properties (6,000) (201,000) 198,000 (326,000)
(Loss) income from operations (15,067,000) 12,348,000 (75,435,000) 22,792,000
OTHER INCOME (EXPENSE)        
Interest expense, net (1,285,000) (1,677,000) (3,021,000) (3,126,000)
(Loss) gain on derivative contracts, net (20,679,000) 9,496,000 79,105,000 (38,398,000)
Other income (expense), net 12,000 (18,000) 138,000 (22,000)
Total other income (expense) (21,952,000) 7,801,000 76,222,000 (41,546,000)
(Loss) income before income taxes (37,019,000) 20,149,000 787,000 (18,754,000)
Income tax benefit (expense) 1,110,000 (613,000) 18,000 (153,000)
Net (loss) income (35,909,000) 19,536,000 805,000 (18,907,000)
Net loss attributable to noncontrolling interest (19,570,000) 10,759,000 436,000 (10,480,000)
Net (loss) income attributable to Earthstone Energy, Inc. $ (16,339,000) $ 8,777,000 $ 369,000 $ (8,427,000)
Net (loss) income per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ (0.55) $ 0.30 $ 0.01 $ (0.29)
Diluted (in dollars per share) $ (0.55) $ 0.30 $ 0.01 $ (0.29)
Weighted average common shares outstanding:        
Basic (in shares) 29,858,162 28,895,893 29,677,795 28,808,205
Diluted (in shares) 29,858,162 29,228,886 29,677,795 28,808,205
Oil        
REVENUES        
Revenues $ 18,847,000 $ 40,767,000 $ 59,859,000 $ 76,214,000
Natural gas        
REVENUES        
Revenues 1,127,000 129,000 2,213,000 1,223,000
Natural gas liquids        
REVENUES        
Revenues $ 1,689,000 $ 3,646,000 $ 4,729,000 $ 7,833,000