Net Income (Loss) Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Reconciliation of Net Income (Loss) Per Common Share

A reconciliation of Net income (loss) per common share is as follows:

	Years Ended December 31,
(In thousands, except per share amounts)	2022		2021		2020
Net income (loss) attributable to Earthstone Energy, Inc.	$	452,485	$	35,484	$	(13,547)
Net income (loss) attributable to Earthstone Energy, Inc. from assumed conversion of Series A Convertible Preferred Stock (1)	12,388		—		—
Net income (loss) attributable to Earthstone Energy, Inc. - Diluted	$	464,873	$	35,484	$	(13,547)
Net income (loss) per common share attributable to Earthstone Energy, Inc.:
Basic	$	5.12	$	0.75	$	(0.45)
Diluted	$	4.83	$	0.71	$	(0.45)
Weighted average common shares outstanding
Basic	88,349,088		47,169,948		29,911,625
Add potentially dilutive securities:
Unvested restricted stock units	416,031		539,803		—
Unvested performance units	1,757,841		2,242,342		—
Series A Convertible Preferred Stock(1)	5,805,257		—		—
Diluted weighted average common shares outstanding	96,328,217		49,952,093		29,911,625

(1)On April 14, 2022, Earthstone issued 280,000 shares of Series A Convertible Preferred Stock which automatically converted into 25,225,225 shares of Class A Common Stock on July 6, 2022. Under the “If-Converted” method, the shares would have been assumed issued on April 14, 2022, which would have resulted in an additional allocation of Net income (loss) attributable to Earthstone Energy, Inc. of $12.4 million for the year ended December 31, 2022.