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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES        
Total revenues $ 89,671 $ 21,663 $ 165,243 $ 66,801
OPERATING COSTS AND EXPENSES        
Lease operating expense 11,747 5,588 22,596 14,927
Production and ad valorem taxes 5,176 1,479 10,203 4,502
Rig termination expense 0 426 0 426
Depreciation, depletion and amortization 26,027 22,902 50,434 47,558
Impairment expense 0 62 0 60,433
General and administrative expense 9,170 6,687 17,550 13,819
Transaction costs 507 (463) 2,613 381
Accretion of asset retirement obligations 303 46 593 90
Exploration expense 30 (3) 30 298
Total operating costs and expenses 52,960 36,724 104,019 142,434
Gain on sale of oil and gas properties 348 (6) 348 198
Income (loss) from operations 37,059 (15,067) 61,572 (75,435)
OTHER INCOME (EXPENSE)        
Interest expense, net (2,401) (1,285) (4,618) (3,021)
(Loss) gain on derivative contracts, net (51,175) (20,679) (84,438) 79,105
Other income, net 200 12 303 138
Total other (expense) income (53,376) (21,952) (88,753) 76,222
(Loss) income before income taxes (16,317) (37,019) (27,181) 787
Income tax benefit 486 1,110 794 18
Net (loss) income (15,831) (35,909) (26,387) 805
Less: Net (loss) income attributable to noncontrolling interest (6,960) (19,570) (11,683) 436
Net (loss) income attributable to Earthstone Energy, Inc. $ (8,871) $ (16,339) $ (14,704) $ 369
Net (loss) income per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ (0.20) $ (0.55) $ (0.34) $ 0.01
Diluted (in dollars per share) $ (0.20) $ (0.55) $ (0.34) $ 0.01
Weighted average common shares outstanding:        
Basic (in shares) 44,127,718 29,858,162 43,457,043 29,677,795
Diluted (in shares) 44,127,718 29,858,162 43,457,043 29,677,795
Oil        
REVENUES        
Total revenues $ 70,918 $ 18,847 $ 131,737 $ 59,859
Natural gas        
REVENUES        
Total revenues 6,690 1,127 12,542 2,213
Natural gas liquids        
REVENUES        
Total revenues $ 12,063 $ 1,689 $ 20,964 $ 4,729