Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Asset Acquisition

The consideration transferred, assets acquired and liabilities assumed by the Company were recorded as follows (in thousands, except share amounts and stock price):

Consideration:
Shares of Class A Common Stock issued	3,857,015
Class A Common Stock price as of August 10, 2022	$	13.89
Class A Common Stock consideration	53,574
Cash consideration	567,288
Direct transaction costs	1,173
Total consideration transferred	$	622,035
Assets acquired:
Oil and gas properties	$	634,877
Amount attributable to assets acquired	$	634,877
Liabilities assumed:
Current liabilities	$	11,928
Noncurrent liabilities - ARO	914
Amount attributable to liabilities assumed	$	12,842

The consideration transferred, assets acquired and liabilities assumed by the Company were recorded as follows (in thousands, except share amounts and stock price):

Consideration:
Shares of Class A Common Stock issued	5,650,977
Class A Common Stock price as of April 14, 2022	$	13.76
Class A Common Stock consideration	77,757
Cash consideration	625,888
Direct transaction costs	2,352
Total consideration transferred	$	705,997
Assets acquired:
Current assets	$	769
Oil and gas properties	746,167
Amount attributable to assets acquired	$	746,936
Liabilities assumed:
Suspense payable	$	25,710
Other current liabilities	2,035
Noncurrent liabilities - ARO	13,194
Amount attributable to liabilities assumed	$	40,939

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 issued	19,417,476
Class A Common Stock price as of February 15, 2022	$	12.85
Class A Common Stock consideration	249,515
Cash consideration	383,877
Total consideration transferred	$	633,392
Fair value of assets acquired:
Oil and gas properties	$	642,391
Amount attributable to assets acquired	$	642,391
Fair value of liabilities assumed:
Other current liabilities	$	3,028
Asset retirement obligation - noncurrent	5,971
Amount attributable to liabilities assumed	$	8,999