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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES        
Total revenues $ 531,495 $ 110,384 $ 1,200,196 $ 275,627
OPERATING COSTS AND EXPENSES        
Lease operating expense 75,829 12,983 147,974 35,579
Production and ad valorem taxes 40,219 7,225 87,729 17,428
Depreciation, depletion and amortization 90,880 27,059 191,669 77,493
General and administrative expense 14,188 7,650 40,571 25,200
Transaction costs 1,778 293 12,118 2,906
Accretion of asset retirement obligations 758 323 1,863 916
Exploration expense 2,248 296 2,340 326
Total operating costs and expenses 225,900 55,829 484,264 159,848
Gain on sale of oil and gas properties 14,803 392 14,803 740
Income from operations 320,398 54,947 730,735 116,519
OTHER INCOME (EXPENSE)        
Interest expense, net (20,988) (3,050) (42,931) (7,668)
Gain (loss) on derivative contracts, net 60,286 (33,128) (141,101) (117,566)
Other income, net 134 520 430 823
Total other income (expense) 39,432 (35,658) (183,602) (124,411)
Income (loss) before income taxes 359,830 19,289 547,133 (7,892)
Income tax (expense) benefit (60,518) (451) (81,673) 343
Net income (loss) 299,312 18,838 465,460 (7,549)
Less: Net income (loss) attributable to noncontrolling interest 87,856 8,420 142,597 (3,263)
Net income (loss) attributable to Earthstone Energy, Inc. $ 211,456 $ 10,418 $ 322,863 $ (4,286)
Net income (loss) per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ 2.01 $ 0.21 $ 3.91 $ (0.09)
Diluted (in dollars per share) $ 1.94 $ 0.20 $ 3.61 $ (0.09)
Weighted average common shares outstanding:        
Basic (in shares) 105,254,778 49,243,185 82,483,635 45,406,952
Diluted (in shares) 109,278,661 52,662,942 92,844,854 45,406,952
Oil        
REVENUES        
Total revenues $ 332,036 $ 74,051 $ 756,420 $ 205,788
Natural gas        
REVENUES        
Total revenues 113,937 14,368 233,020 26,910
Natural gas liquids        
REVENUES        
Total revenues $ 85,522 $ 21,965 $ 210,756 $ 42,929