Acquisitions and Divestitures (Tables)

6 Months Ended

Jun. 30, 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	567,334
Direct transaction costs	1,202
Total consideration transferred	$	622,110
Assets acquired:
Oil and gas properties	$	626,696
Amount attributable to assets acquired	$	626,696
Liabilities assumed:
Current liabilities	$	3,672
Noncurrent liabilities - ARO	914
Amount attributable to liabilities assumed	$	4,586

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	625,887
Direct transaction costs	2,397
Total consideration transferred	$	706,041
Assets acquired:
Current assets	$	769
Oil and gas properties	746,211
Amount attributable to assets acquired	$	746,980
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	19,311,582
Class A Common Stock price as of February 15, 2022	$	12.85
Class A Common Stock consideration	248,154
Cash consideration	383,877
Total consideration transferred	$	632,031
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	$	4,389
Asset retirement obligation - noncurrent	5,971
Amount attributable to liabilities assumed	$	10,360