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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Revenues $ 41,047 $ 39,204 $ 107,848 $ 124,474
OPERATING COSTS AND EXPENSES        
Lease operating expense 7,044 6,419 21,971 20,485
Production and ad valorem taxes 2,696 2,698 7,198 8,001
Rig termination expense 0 0 426 0
Depreciation, depletion and amortization 28,538 14,079 76,096 42,281
Impairment expense 2,115 0 62,548 0
General and administrative expense 5,796 6,057 19,615 19,948
Transaction costs (705) 215 (324) 797
Accretion of asset retirement obligation 47 52 137 160
Exploration expense 0 0 298 0
Total operating costs and expenses 45,531 29,520 187,965 91,672
(Loss) gain on sale of oil and gas properties 0 (120) 198 (446)
(Loss) income from operations (4,484) 9,564 (79,919) 32,356
OTHER INCOME (EXPENSE)        
Interest expense, net (1,186) (1,609) (4,207) (4,735)
(Loss) gain on derivative contracts, net (6,040) 18,726 73,065 (19,672)
Other income (expense), net (18) 21 120 (1)
Total other income (expense) (7,244) 17,138 68,978 (24,408)
(Loss) income before income taxes (11,728) 26,702 (10,941) 7,948
Income tax expense (130) (575) (112) (728)
Net (loss) income (11,858) 26,127 (11,053) 7,220
Less: Net (loss) income attributable to noncontrolling interest (6,413) 14,357 (5,977) 3,877
Net (loss) income attributable to Earthstone Energy, Inc. $ (5,445) $ 11,770 $ (5,076) $ 3,343
Net (loss) income per common share attributable to Earthstone Energy, Inc.:        
Basic (in dollars per share) $ (0.18) $ 0.41 $ (0.17) $ 0.12
Diluted (in dollars per share) $ (0.18) $ 0.41 $ (0.17) $ 0.12
Weighted average common shares outstanding:        
Basic (in shares) 30,073,635 29,032,842 29,810,705 28,883,907
Diluted (in shares) 30,073,635 29,032,842 29,810,705 28,883,907
Oil Revenue [Member]        
REVENUES        
Revenues $ 33,158 $ 35,443 $ 93,017 $ 111,657
Natural Gas [Member]        
REVENUES        
Revenues 2,642 903 4,855 2,126
Natural Gas Liquids [Member]        
REVENUES        
Revenues $ 5,247 $ 2,858 $ 9,976 $ 10,691