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Acquisitions and Divestitures (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combination, Asset Acquisition and Divestitures [Abstract]  
Schedule of Business Acquisitions, by Acquisition The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price):
Consideration:
Shares of Class A Common Stock issued3,857,015 
Class A Common Stock price as of August 10, 2022$13.89 
Class A Common Stock consideration53,574 
Cash consideration565,777 
Total consideration transferred$619,351 
Fair value of assets acquired:
Oil and gas properties$623,119 
Amount attributable to assets acquired$623,119 
Fair value of liabilities assumed:
Current liabilities$2,854 
Noncurrent liabilities - ARO914 
Amount attributable to liabilities assumed$3,768 
The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price):
Consideration:
Shares of Class A Common Stock issued5,650,977 
Class A Common Stock price as of April 14, 2022$13.76 
Class A Common Stock consideration77,757 
Cash consideration625,801 
Direct transaction costs (1)
2,048 
Total consideration transferred$705,606 
Fair value of assets acquired:
Current assets$770 
Oil and gas properties746,825 
Amount attributable to assets acquired$747,595 
Fair value of liabilities assumed:
Suspense payable25,710 
Other current liabilities3,085 
Noncurrent liabilities - ARO13,194 
Amount attributable to liabilities assumed$41,989 
(1)Represents $2.0 million of estimated transaction costs associated with the Bighorn Acquisition which have been capitalized in accordance with ASC 805-50.
The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price):
Consideration:
Shares of Class A Common Stock issued19,417,476 
Class A Common Stock price as of February 15, 2022$12.85 
Class A Common Stock consideration249,515 
Cash consideration383,938 
Total consideration transferred$633,453 
Fair value of assets acquired:
Oil and gas properties$641,494 
Amount attributable to assets acquired$641,494 
Fair value of liabilities assumed:
Other current liabilities$2,070 
Asset retirement obligation - noncurrent5,971 
Amount attributable to liabilities assumed$8,041 
The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price):
Consideration:
Shares of Class A Common Stock issued12,719,594 
Class A Common Stock price as of January 7, 2021$6.02 
Class A Common Stock consideration76,572 
Cash consideration140,507 
Total consideration transferred$217,079 
Fair value of assets acquired:
Cash$4,763 
Other current assets11,524 
Oil and gas properties224,112 
Other non-current assets252 
Amount attributable to assets acquired$240,651 
Fair value of liabilities assumed:
Derivative liability$10,177 
Other current liabilities5,196 
Asset retirement obligation - noncurrent8,199 
Amount attributable to liabilities assumed$23,572 
Schedule of Asset Acquisition The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price):
Total
Consideration:
Shares of Class A Common Stock issued6,200,000 
Class A Common Stock price as of July 20, 2021$9.97 
Class A Common Stock consideration61,814 
Cash consideration60,159 
Direct transaction costs (1)
1,715 
Total consideration transferred$123,688 
Fair value of assets acquired:
Oil and gas properties$124,288 
Amount attributable to assets acquired$124,288 
Fair value of liabilities assumed:
Noncurrent liabilities - asset retirement obligations600 
Amount attributable to liabilities assumed$600 
(1)Represents $1.7 million of transaction costs associated with the Tracker Acquisition and the Sequel Acquisition that have been capitalized in accordance with ASC 805-50.
Schedule of Business Acquisition, Pro Forma Information These unaudited supplemental pro forma results of operations are provided for illustrative purposes only and do not purport to be indicative of the actual results that would have been achieved by the combined company for the periods presented or that may be achieved by the combined company in the future. Future results may vary significantly from the results reflected in this unaudited supplemental pro forma results of operations (in thousands, except per share amounts):
Three Months EndedNine Months Ended
 September 30,September 30,
 2022202120222021
Revenue$1,016,529 $450,618 $1,910,133 $963,414 
Income before taxes671,440 53,933 1,004,806 41,410 
Net income610,922 53,127 923,133 40,808 
Less: Net income attributable to noncontrolling interest179,944 23,093 282,808 17,639 
Net income attributable to Earthstone Energy, Inc.430,978 30,034 640,325 23,169 
Pro forma net income per common share attributable to Earthstone Energy, Inc.:
Basic$3.98 $0.29 $5.92 $0.24 
Diluted$3.85 $0.28 $5.52 $0.24