Earthstone Energy (ESTE) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	EARTHSTONE ENERGY INC
Entity Central Index Key	0000010254
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Class A Common Stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		29,305,986
Class B Common Stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		35,260,680

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash	$ 9,816	$ 376
Accounts receivable:
Oil, natural gas, and natural gas liquids revenues	14,990	13,683
Joint interest billings and other, both net of allowance of $134	8,001	4,166
Derivative asset	20,179	43,888
Prepaid expenses and other current assets	2,488	1,443
Total current assets	55,474	63,556
Oil and gas properties, successful efforts method:
Proved properties	904,323	755,443
Unproved properties	269,417	266,140
Land	5,382	5,382
Total oil and gas properties	1,179,122	1,026,965
Accumulated depreciation, depletion and amortization	(168,988)	(127,256)
Net oil and gas properties	1,010,134	899,709
Other noncurrent assets:
Goodwill	17,620	17,620
Office and other equipment, net of accumulated depreciation and amortization of $3,033 and $2,490 at September 30, 2019 and December 31, 2018, respectively	1,350	662
Derivative asset	9,246	21,121
Operating lease right-of-use assets	3,295
Other noncurrent assets	1,532	1,640
TOTAL ASSETS	1,098,651	1,004,308
Current liabilities:
Accounts payable	37,405	26,452
Revenues and royalties payable	19,706	28,748
Accrued expenses	35,604	22,406
Asset retirement obligation	420	557
Advances	20,894	3,174
Derivative liability	137	528
Operating lease liabilities	586
Finance lease liabilities	256
Total current liabilities	115,008	81,865
Noncurrent liabilities:
Long-term debt	125,000	78,828
Deferred tax liability	14,217	13,489
Asset retirement obligation	1,833	1,672
Derivative liability	29	1,891
Operating lease liabilities	2,722
Finance lease liabilities	111
Other noncurrent liabilities	0	71
Total noncurrent liabilities	143,912	95,951
Commitments and Contingencies (Note 12)
Equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized; none issued or outstanding	0	0
Additional paid-in capital	523,402	517,073
Accumulated deficit	(179,087)	(182,497)
Total Earthstone Energy, Inc. equity	344,379	334,640
Noncontrolling interest	495,352	491,852
Total equity	839,731	826,492
TOTAL LIABILITIES AND EQUITY	1,098,651	1,004,308
Class A Common Stock
Equity:
Common stock	29	29
Class B Common Stock
Equity:
Common stock	$ 35	$ 35

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Joint interest billings and other, allowance	$ 134	$ 134
Office and other equipment, accumulated depreciation	$ 3,033	$ 2,490
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	29,150,220	28,696,321
Common stock, shares outstanding (in shares)	29,150,220	28,696,321
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	35,416,446	35,452,178
Common stock, shares outstanding (in shares)	35,416,446	35,452,178
Earthstone Energy Holdings, LLC
Common stock, shares outstanding (in shares)	64,566,666	64,148,499
EEH Units Held By Earthstone and Lynden US | Earthstone Energy Holdings, LLC
Common stock, shares outstanding (in shares)	29,150,220	28,696,321
EEH Units Held By Others | Earthstone Energy Holdings, LLC
Common stock, shares outstanding (in shares)	35,416,446	35,452,178

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUES
Revenues	$ 39,204,000	$ 46,076,000	$ 124,474,000	$ 124,121,000
OPERATING COSTS AND EXPENSES
Lease operating expense	7,259,000	4,843,000	22,531,000	14,509,000
Severance taxes	1,858,000	2,254,000	5,955,000	6,115,000
Impairment expense	0	833,000	0	833,000
Depreciation, depletion and amortization	14,079,000	12,842,000	42,281,000	33,362,000
General and administrative expense	6,230,000	4,944,000	20,528,000	18,809,000
Transaction costs	42,000	892,000	217,000	892,000
Accretion of asset retirement obligation	52,000	44,000	160,000	128,000
Total operating costs and expenses	29,520,000	26,652,000	91,672,000	74,648,000
(Loss) gain on sale of oil and gas properties	(120,000)	4,096,000	(446,000)	4,608,000
Income from operations	9,564,000	23,520,000	32,356,000	54,081,000
OTHER INCOME (EXPENSE)
Interest expense, net	(1,609,000)	(565,000)	(4,735,000)	(1,788,000)
Gain (loss) on derivative contracts, net	18,726,000	(17,481,000)	(19,672,000)	(33,606,000)
Litigation settlement	0	(4,775,000)	0	(4,775,000)
Other income (expense), net	21,000	37,000	(1,000)	434,000
Total other income (expense)	17,138,000	(22,784,000)	(24,408,000)	(39,735,000)
Income before income taxes	26,702,000	736,000	7,948,000	14,346,000
Income tax expense	(575,000)	(172,000)	(728,000)	(119,000)
Net income	26,127,000	564,000	7,220,000	14,227,000
Net loss attributable to noncontrolling interest	14,357,000	340,000	3,877,000	8,032,000
Net income attributable to Earthstone Energy, Inc.	$ 11,770,000	$ 224,000	$ 3,343,000	$ 6,195,000
Net income per common share attributable to Earthstone Energy, Inc.:
Basic (in dollars per share)	$ 0.41	$ 0.01	$ 0.12	$ 0.22
Diluted (in dollars per share)	$ 0.41	$ 0.01	$ 0.12	$ 0.22
Weighted average common shares outstanding:
Basic (in shares)	29,032,842	28,257,376	28,883,907	28,011,298
Diluted (in shares)	29,032,842	28,311,759	28,883,907	28,108,365
Oil
REVENUES
Revenues	$ 35,443,000	$ 38,791,000	$ 111,657,000	$ 105,111,000
Natural gas
REVENUES
Revenues	903,000	1,790,000	2,126,000	6,257,000
Natural gas liquids
REVENUES
Revenues	$ 2,858,000	$ 5,495,000	$ 10,691,000	$ 12,753,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Class B Common Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total Earthstone Energy, Inc. Equity	Noncontrolling Interest	Restricted Stock UnitsCommon StockClass A Common Stock
Beginning balance (in shares) at Dec. 31, 2017			27,584,638	36,052,169
Beginning balance at Dec. 31, 2017	$ 725,732		$ 28	$ 36	$ 503,932	$ (224,822)	$ 279,174	$ 446,558
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	1,940				1,940		1,940
Vesting of restricted stock units, net of taxes paid (in shares)									86,272
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)			28,664
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings	(466)				(466)		(466)
Cancellation of treasury shares (in shares)			(28,664)
Class B Common Stock converted to Class A Common Stock (in shares)			194,046	(194,046)
Class B Common Stock converted to Class A Common Stock					2,409		2,409	(2,409)
Net income	12,191					5,321	5,321	6,870
Ending balance (in shares) at Mar. 31, 2018			27,864,956	35,858,123
Ending balance at Mar. 31, 2018	739,397		$ 28	$ 36	507,815	(219,501)	288,378	451,019
Beginning balance (in shares) at Dec. 31, 2017			27,584,638	36,052,169
Beginning balance at Dec. 31, 2017	725,732		$ 28	$ 36	503,932	(224,822)	279,174	446,558
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Class B Common Stock converted to Class A Common Stock (in shares)		389,135
Net income	14,227
Ending balance (in shares) at Sep. 30, 2018			28,400,421	35,663,034
Ending balance at Sep. 30, 2018	744,093		$ 28	$ 36	512,960	(218,627)	294,397	449,696
Beginning balance (in shares) at Mar. 31, 2018			27,864,956	35,858,123
Beginning balance at Mar. 31, 2018	739,397		$ 28	$ 36	507,815	(219,501)	288,378	451,019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,073				2,073		2,073
Vesting of restricted stock units, net of taxes paid (in shares)									255,313
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)			83,762
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings	(648)				(648)		(648)
Cancellation of treasury shares (in shares)			(83,762)
Class B Common Stock converted to Class A Common Stock (in shares)			11,195	(11,195)
Class B Common Stock converted to Class A Common Stock	0				141		141	(141)
Net income	1,472					650	650	822
Ending balance (in shares) at Jun. 30, 2018			28,131,464	35,846,928
Ending balance at Jun. 30, 2018	742,294		$ 28	$ 36	509,381	(218,851)	290,594	451,700
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	1,522				1,522		1,522
Vesting of restricted stock units, net of taxes paid (in shares)									85,063
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)			30,511
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings	(287)				(287)		(287)
Cancellation of treasury shares (in shares)			(30,511)
Class B Common Stock converted to Class A Common Stock (in shares)		183,894	183,894	(183,894)
Class B Common Stock converted to Class A Common Stock					2,344		2,344	(2,344)
Net income	564					224	224	340
Ending balance (in shares) at Sep. 30, 2018			28,400,421	35,663,034
Ending balance at Sep. 30, 2018	744,093		$ 28	$ 36	512,960	(218,627)	294,397	449,696
Beginning balance (in shares) at Dec. 31, 2018			28,696,321	35,452,178
Beginning balance at Dec. 31, 2018	826,492		$ 29	$ 35	517,073	(182,497)	334,640	491,852
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,212				2,212		2,212
Vesting of restricted stock units, net of taxes paid (in shares)									166,140
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)			59,261
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings	(396)				(396)		(396)
Cancellation of treasury shares (in shares)			(59,261)
Net income	(38,443)					(17,204)	(17,204)	(21,239)
Ending balance (in shares) at Mar. 31, 2019			28,862,461	35,452,178
Ending balance at Mar. 31, 2019	790,031		$ 29	$ 35	518,889	(199,634)	319,319	470,712
Beginning balance (in shares) at Dec. 31, 2018			28,696,321	35,452,178
Beginning balance at Dec. 31, 2018	826,492		$ 29	$ 35	517,073	(182,497)	334,640	491,852
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Class B Common Stock converted to Class A Common Stock (in shares)		35,732
Net income	7,220
Ending balance (in shares) at Sep. 30, 2019			29,150,220	35,416,446
Ending balance at Sep. 30, 2019	839,731		$ 29	$ 35	523,402	(179,087)	344,379	495,352
Beginning balance (in shares) at Mar. 31, 2019			28,862,461	35,452,178
Beginning balance at Mar. 31, 2019	790,031		$ 29	$ 35	518,889	(199,634)	319,319	470,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,261				2,261		2,261
Vesting of restricted stock units, net of taxes paid (in shares)									133,311
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)			43,344
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings	(265)				(265)		(265)
Cancellation of treasury shares (in shares)			(43,344)
Class B Common Stock converted to Class A Common Stock (in shares)			35,732	(35,732)
Class B Common Stock converted to Class A Common Stock	0				476		476	(476)
Net income	19,536					8,777	8,777	10,759
Ending balance (in shares) at Jun. 30, 2019			29,031,504	35,416,446
Ending balance at Jun. 30, 2019	811,563		$ 29	$ 35	521,361	(190,857)	330,568	480,995
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,207				2,207		2,207
Vesting of restricted stock units, net of taxes paid (in shares)									118,716
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)			49,111
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings	(166)				(166)		(166)
Cancellation of treasury shares (in shares)			(49,111)
Class B Common Stock converted to Class A Common Stock (in shares)		35,732
Net income	26,127					11,770	11,770	14,357
Ending balance (in shares) at Sep. 30, 2019			29,150,220	35,416,446
Ending balance at Sep. 30, 2019	$ 839,731		$ 29	$ 35	$ 523,402	$ (179,087)	$ 344,379	$ 495,352

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 26,127,000	$ 564,000	$ 7,220,000	$ 14,227,000
Adjustments to reconcile net income to net cash provided by operating activities:
Impairment expense	0	833,000	0	833,000
Depreciation, depletion and amortization	14,079,000	12,842,000	42,281,000	33,362,000
Accretion of asset retirement obligations	52,000	44,000	160,000	128,000
Settlement of asset retirement obligations			(179,000)	(79,000)
Loss (gain) on sale of oil and gas properties	120,000	(4,096,000)	446,000	(4,608,000)
Total loss on derivative contracts, net	(18,726,000)	17,481,000	19,672,000	33,606,000
Operating portion of net cash received (paid) in settlement of derivative contracts			13,660,000	(13,643,000)
Stock-based compensation			6,680,000	5,535,000
Deferred income taxes			728,000	119,000
Amortization of deferred financing costs	100,000	100,000	336,000	228,000
Changes in assets and liabilities:
(Increase) decrease in accounts receivable			(5,585,000)	(1,476,000)
(Increase) decrease in prepaid expenses and other current assets			(28,000)	(372,000)
Increase (decrease) in accounts payable and accrued expenses			(8,330,000)	3,939,000
Increase (decrease) in revenues and royalties payable			(9,042,000)	26,572,000
Increase (decrease) in advances			17,720,000	(1,816,000)
Net cash provided by operating activities			85,739,000	96,555,000
Cash flows from investing activities:
Additions to oil and gas properties			(120,685,000)	(120,124,000)
Additions to office and other equipment			(379,000)	(121,000)
Proceeds from sales of oil and gas properties			2,000	5,840,000
Net cash used in investing activities			(121,062,000)	(114,405,000)
Cash flows from financing activities:
Proceeds from borrowings			165,272,000	70,308,000
Repayments of borrowings			(119,099,000)	(60,308,000)
Cash paid related to the exchange and cancellation of Class A Common Stock			(827,000)	(1,402,000)
Cash paid for finance leases	(100,000)		(355,000)	0
Deferred financing costs			(228,000)	(274,000)
Net cash provided by financing activities			44,763,000	8,324,000
Net increase (decrease) in cash			9,440,000	(9,526,000)
Cash at beginning of period			376,000	22,955,000
Cash at end of period	$ 9,816,000	$ 13,429,000	9,816,000	13,429,000
Cash paid for:
Interest			4,235,000	1,480,000
Non-cash investing and financing activities:
Accrued capital expenditures			50,615,000	11,314,000
Lease asset additions - ASC 842			4,710,000
Asset retirement obligations			$ 43,000	$ (120,000)

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Earthstone Energy, Inc., a Delaware corporation ("Earthstone" and together with its consolidated subsidiaries, the "Company"), is a growth-oriented independent oil and natural gas development and production company. In addition, the Company is active in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. The Company's operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States. Earthstone is the sole managing member of Earthstone Energy Holdings, LLC, a Delaware limited liability company (together with its wholly-owned consolidated subsidiaries, “EEH”), with a controlling interest in EEH. Earthstone, together with its wholly-owned subsidiary, Lynden Energy Corp., a corporation organized under the laws of British Columbia (“Lynden Corp”), and Lynden Corp’s wholly-owned consolidated subsidiary, Lynden USA Inc., a Utah corporation (“Lynden US”) and also a member of EEH, consolidates the financial results of EEH and records a noncontrolling interest in the Condensed Consolidated Financial Statements representing the economic interests of EEH's members other than Earthstone and Lynden US. The accompanying unaudited Condensed Consolidated Financial Statements and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. Pursuant to such rules and regulations, certain disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The accompanying unaudited Condensed Consolidated Financial Statements and notes should be read in conjunction with the financial statements and notes included in Earthstone’s 2018 Annual Report on Form 10-K. The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for the fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. The Company’s Condensed Consolidated Balance Sheet at December 31, 2018 is derived from the audited Consolidated Financial Statements at that date. Recently Issued Accounting Standards Leases – In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards Codification (“ASU 2016-02”). In January 2018, the FASB issued ASU No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842 (“ASU 2018-01”). In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”). Together these related amendments to GAAP represent Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC Topic 842”). ASU 2016-02 requires lessees to recognize lease assets and liabilities (with terms in excess of 12 months) on the balance sheet and disclose key quantitative and qualitative information about leasing arrangements. The Company completed a comprehensive assessment of existing contracts, as well as future potential contracts, to determine the impact of the new accounting guidance on its consolidated financial statements and related disclosures. The evaluation process included review of contracts for drilling rigs, office facilities, compression services, field vehicles and equipment, general corporate leased equipment, and other existing arrangements to support its operations that may contain a lease component. The Company's evaluation process did not include review of its mineral leases as they are outside the scope of ASC Topic 842. The Company adopted this guidance on January 1, 2019, the transition date, using the simplified transition method described in ASU 2018-11 which allows entities to continue to apply historical accounting guidance in the comparative periods presented in the year of adoption. Accordingly, prior period amounts in our financial statements are not adjusted and continue to be reported in accordance with historical accounting guidance. The Company elected the package of practical expedients within ASU 2016-02 that allows an entity to not reassess, prior to the effective date, (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases or (iii) initial direct costs for any existing leases. Additionally, the Company elected the practical expedient under ASU 2018-01 to not evaluate existing or expired land easements not previously accounted for as leases prior to the effective date. The Company made an accounting policy election not to apply the lease recognition requirements to short-term leases. The adoption of ASC Topic 842 did not have a material impact on the Company's financial statements, resulted in increases of less than 1% to each of its total assets and total liabilities on the balance sheet, and resulted in an immaterial decrease to accumulated deficit as of the beginning of 2019. See Note 14. Leases for further information. Intangibles - Goodwill and Other – In January 2017, the FASB issued updated guidance simplifying the test for goodwill impairment. The update eliminates Step 2 of the goodwill impairment test. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The update is effective for annual and interim periods beginning after December 15, 2019 and early adoption is permitted for interim or annual goodwill impairment tests performed after January 1, 2017. The Company is in the process of evaluating the impact of this guidance, if any, on its Consolidated Financial Statements. Fair Value Measurements – In August 2018, the FASB issued an update which modifies the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company is in the process of evaluating the impact of this update, if any, on its Consolidated Financial Statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements FASB ASC Topic 820, defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. ASC 820 provides a framework for measuring fair value, establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date and requires consideration of the counterparty’s creditworthiness when valuing certain assets. The three-level fair value hierarchy for disclosure of fair value measurements defined by ASC 820 is as follows: Level 1 – Unadjusted, quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. An active market is defined as a market where transactions for the financial instrument occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 – Inputs, other than quoted prices within Level 1, that are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level 3 – Prices or valuations that require unobservable inputs that are both significant to the fair value measurement and unobservable. Valuation under Level 3 generally involves a significant degree of judgment from management. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instrument’s complexity. The Company reflects transfers between the three levels at the beginning of the reporting period in which the availability of observable inputs no longer justifies classification in the original level. There were no transfers between fair value hierarchy levels for the nine months ended September 30, 2019 . Fair Value on a Recurring Basis Derivative financial instruments are carried at fair value and measured on a recurring basis. The derivative financial instruments consist of swaps for crude oil and natural gas. The Company’s swaps are valued based on a discounted future cash flow model. The primary input for the model is published forward commodity price curves. The swaps are also designated as Level 2 within the valuation hierarchy. The fair values of commodity derivative instruments in an asset position include a measure of counterparty nonperformance risk, and the fair values of commodity derivative instruments in a liability position include a measure of the Company’s nonperformance risk. These measurements were not material to the Condensed Consolidated Financial Statements. The following table summarizes the fair value of the Company’s financial assets and liabilities, by level within the fair-value hierarchy (in thousands) : September 30, 2019 Level 1 Level 2 Level 3 Total Financial assets Derivative asset - current $ — $ 20,179 $ — $ 20,179 Derivative asset - noncurrent — 9,246 — 9,246 Total financial assets $ — $ 29,425 $ — $ 29,425 Financial liabilities Derivative liability - current $ — $ 137 $ — $ 137 Derivative liability - noncurrent — 29 — 29 Total financial liabilities $ — $ 166 $ — $ 166 December 31, 2018 Financial assets Derivative asset - current $ — $ 43,888 $ — $ 43,888 Derivative asset - noncurrent 21,121 21,121 Total financial assets $ — $ 65,009 $ — $ 65,009 Financial liabilities Derivative liability - current $ — $ 528 $ — $ 528 Derivative liability - noncurrent — 1,891 — 1,891 Total financial liabilities $ — $ 2,419 $ — $ 2,419 Other financial instruments include cash, accounts receivable and payable, and revenue royalties. The carrying amount of these instruments approximates fair value because of their short-term nature. The Company’s long-term debt obligation bears interest at floating market rates, therefore carrying amounts and fair value are approximately equal. Fair Value on a Nonrecurring Basis The Company applies the provisions of the fair value measurement standard on a non-recurring basis to its non-financial assets and liabilities, including oil and gas properties, goodwill, business combinations, asset retirement obligations and performance units. These assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances as described in the Notes to Consolidated Financial Statements included in Earthstone’s 2018 Annual Report on Form 10-K.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company’s hedging activities consist of derivative instruments entered into in order to hedge against changes in oil and natural gas prices through the use of fixed price swap agreements. Swaps exchange floating price risk in the future for a fixed price at the time of the hedge. Consistent with its hedging policy, the Company has entered into a series of derivative instruments to hedge a significant portion of its expected oil and natural gas production through December 31, 2021. Typically, these derivative instruments require payments to (receipts from) counterparties based on specific indices as required by the derivative agreements. Although not risk free, the Company believes these instruments reduce its exposure to oil and natural gas price fluctuations and, thereby, allow the Company to achieve a more predictable cash flow. The Company’s derivative instruments are cash flow hedge transactions in which it is hedging the variability of cash flow related to a forecasted transaction. The Company does not enter into derivative instruments for trading or other speculative purposes. These transactions are recorded in the Condensed Consolidated Financial Statements in accordance with FASB ASC Topic 815. The Company has accounted for these transactions using the mark-to-market accounting method. Generally, the Company incurs accounting losses on derivatives during periods where prices are rising and gains during periods where prices are falling which may cause significant fluctuations in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations. The Company nets its derivative instrument fair value amounts executed with each counterparty pursuant to an International Swap Dealers Association Master Agreement (“ISDA”), which provides for net settlement over the term of the contract. The ISDA is a standard contract that governs all derivative contracts entered into between the Company and the respective counterparty. The ISDA allows for offsetting of amounts payable or receivable between the Company and the counterparty, at the election of both parties, for transactions that occur on the same date and in the same currency. The Company had the following open crude oil and natural gas derivative contracts as of September 30, 2019 : Price Swaps Period Commodity Volume (Bbls / MMBtu) Weighted Average Price ($/Bbl / $/MMBtu) Q4 2019 Crude Oil 671,600 $ 64.31 Q1 - Q4 2020 Crude Oil 2,562,000 $ 61.26 Q1 - Q4 2021 Crude Oil 730,000 $ 55.00 Q4 2019 Crude Oil Basis Swap(1) 506,000 $ (5.29 ) Q4 2019 Crude Oil Basis Swap(2) 92,000 $ 4.50 Q1 - Q4 2020 Crude Oil Basis Swap(1) 2,562,000 $ (1.40 ) Q1 - Q4 2021 Crude Oil Basis Swap(1) 730,000 $ 0.85 Q4 2019 Natural Gas 782,000 $ 2.85 Q1 - Q4 2020 Natural Gas 2,562,000 $ 2.85 Q4 2019 Natural Gas Basis Swap(3) 782,000 $ (1.15 ) Q1 - Q4 2020 Natural Gas Basis Swap(3) 2,562,000 $ (1.07 ) (1) The basis differential price is between WTI Midland Argus Crude and the WTI NYMEX. (2) The basis differential price is between LLS Argus Crude and the WTI NYMEX. (3) The basis differential price is between W. Texas (WAHA) and the Henry Hub NYMEX. The following table summarizes the location and fair value amounts of all derivative instruments in the Condensed Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Condensed Consolidated Balance Sheets (in thousands) : September 30, 2019 December 31, 2018 Derivatives not designated as hedging contracts under ASC Topic 815 Balance Sheet Location Gross Recognized Assets / Liabilities Gross Amounts Offset Net Recognized Assets / Liabilities Gross Recognized Assets / Liabilities Gross Amounts Offset Net Recognized Assets / Liabilities Commodity contracts Derivative asset - current $ 27,014 $ (6,835 ) $ 20,179 $ 48,662 $ (4,774 ) $ 43,888 Commodity contracts Derivative liability - current $ 6,972 $ (6,835 ) $ 137 $ 5,302 $ (4,774 ) $ 528 Commodity contracts Derivative asset - noncurrent $ 10,650 $ (1,404 ) $ 9,246 $ 23,605 $ (2,484 ) $ 21,121 Commodity contracts Derivative liability - noncurrent $ 1,433 $ (1,404 ) $ 29 $ 4,375 $ (2,484 ) $ 1,891 The following table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivatives instruments in the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows (in thousands) : Derivatives not designated as hedging contracts under ASC Topic 815 Three Months Ended Nine Months Ended Statement of Cash Flows Location Statement of Operations Location 2019 2018 2019 2018 Unrealized gain (loss) Not separately presented Not separately presented $ 15,021 $ (13,105 ) $ (33,332 ) $ (19,963 ) Realized gain (loss) Operating portion of net cash paid in settlement of derivative contracts Not separately presented 3,705 (4,376 ) 13,660 (13,643 ) Total gain (loss) on derivative contracts, net Gain (loss) on derivative contracts, net $ 18,726 $ (17,481 ) $ (19,672 ) $ (33,606 )

Oil and Natural Gas Properties

Oil and Natural Gas Properties	9 Months Ended
	Sep. 30, 2019
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Oil and Natural Gas Properties	Oil and Natural Gas Properties The Company follows the successful efforts method of accounting for its oil and natural gas properties. Under this method, costs to acquire oil and natural gas properties, drill and equip exploratory wells that find proved reserves, and drill and equip development wells are capitalized. Exploration costs, including unsuccessful exploratory wells and geological and geophysical costs, are charged to operations as incurred. Upon sale or retirement of oil and natural gas properties, the costs and related accumulated depreciation, depletion and amortization are eliminated from the accounts and the resulting gain or loss is recognized. Costs incurred to maintain wells and related equipment, lease and well operating costs, and other exploration costs are charged to expense as incurred. Gains and losses arising from the sale of properties are included in Income from operations in the Condensed Consolidated Statements of Operations. The Company’s lease acquisition costs and development costs of proved oil and natural gas properties are amortized using the units-of-production method, at the field level, based on total proved reserves and proved developed reserves, respectively. For the three and nine months ended September 30, 2019 , depletion expense for oil and gas producing property and related equipment was $13.9 million and $41.7 million , respectively. For the three and nine months ended September 30, 2018 , depletion expense for oil and gas producing property and related equipment was $12.7 million and $33.0 million , respectively. Proved Properties Proved oil and natural gas properties are reviewed for impairment on a nonrecurring basis. The impairment charge reduces the carrying values to their estimated fair values. These fair value measurements are classified as Level 3 measurements and include many unobservable inputs. Fair value is calculated as the estimated discounted future net cash flows attributable to the assets. The Company’s primary assumptions in preparing the estimated discounted future net cash flows to be recovered from oil and gas properties are based on (i) proved reserves, (ii) forward commodity prices and assumptions as to costs and expenses, and (iii) the estimated discount rate that would be used by potential purchasers to determine the fair value of the assets. Unproved Properties Unproved properties consist of costs incurred to acquire undeveloped leases. Unproved oil and gas leases are generally for a primary term of three to five years . In most cases, the term of the unproved leases can be extended by paying a lease renewal fee, meeting contractual drilling obligations, or by the presence of producing wells on the leases. Unproved costs related to successful drilling on unproved leases are reclassified to proved properties. The Company reviews its unproved properties periodically for impairment. In determining whether an unproved property is impaired, the Company considers numerous factors including, but not limited to, current exploration and development plans, favorable or unfavorable exploration activity on the property being evaluated and/or adjacent properties, the Company’s geologists' evaluation of the property, and the remaining months in the lease term for the property. Impairments to Oil and Natural Gas Properties During the three and nine months ended September 30, 2019 , the Company did not record any impairments to its oil and natural gas properties. During the three and nine months ended September 30, 2018 , the Company recorded an impairment of $0.8 million to its unproved oil and natural gas properties as a result of acreage expirations in its properties located in the Eagle Ford Trend of south Texas.

Noncontrolling Interest

Noncontrolling Interest	9 Months Ended
	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest Earthstone consolidates the financial results of EEH and its subsidiaries and records a noncontrolling interest for the economic interest in Earthstone held by the members of EEH other than Earthstone and Lynden US. Net income attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019 and 2018 represents the portion of net income attributable to the economic interest in the Company held by the members of EEH other than Earthstone and Lynden US. Noncontrolling interest in the Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018 represents the portion of net assets of the Company attributable to the members of EEH other than Earthstone and Lynden US. The following table presents the changes in noncontrolling interest for the nine months ended September 30, 2019 : EEH Units Held By Earthstone and Lynden US % EEH Units Held By Others % Total EEH Units Outstanding As of December 31, 2018 28,696,321 44.7 % 35,452,178 55.3 % 64,148,499 EEH Units and Class B Common Stock converted to Class A Common Stock 35,732 (35,732 ) — EEH Units issued in connection with the vesting of restricted stock units 418,167 — 418,167 As of September 30, 2019 29,150,220 45.1 % 35,416,446 54.9 % 64,566,666

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income Per Common Share Net income per common share—basic is calculated by dividing Net income by the weighted average number of shares of common stock outstanding during the period. Net income per common share—diluted assumes the conversion of all potentially dilutive securities and is calculated by dividing Net income by the sum of the weighted average number of shares of common stock, as defined above, outstanding plus potentially dilutive securities. Net income per common share—diluted considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares, as defined above, would have an anti-dilutive effect. A reconciliation of Net income per common share is as follows: Three Months Ended Nine Months Ended (In thousands, except per share amounts) 2019 2018 2019 2018 Net income attributable to Earthstone Energy, Inc. $ 11,770 $ 224 $ 3,343 $ 6,195 Net income per common share attributable to Earthstone Energy, Inc.: Basic $ 0.41 $ 0.01 $ 0.12 $ 0.22 Diluted $ 0.41 $ 0.01 $ 0.12 $ 0.22 Weighted average common shares outstanding Basic 29,032,842 28,257,376 28,883,907 28,011,298 Add potentially dilutive securities: Unvested restricted stock units — 54,383 — 97,067 Unvested performance units — — — — Diluted weighted average common shares outstanding 29,032,842 28,311,759 28,883,907 28,108,365 Class B Common Stock has been excluded, as its conversion would eliminate noncontrolling interest and net income attributable to noncontrolling interest of $14.4 million for the three months ended September 30, 2019 and net income attributable to noncontrolling interest of $3.9 million for the nine months ended September 30, 2019 would be added back to Net income attributable to Earthstone Energy, Inc. for the periods then ended, having no dilutive effect on Net income per common share attributable to Earthstone Energy, Inc.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Common Stock	Common Stock Class A Common Stock At September 30, 2019 and December 31, 2018 , there were 29,150,220 and 28,696,321 shares of Class A Common Stock issued and outstanding, respectively. During the three and nine months ended September 30, 2019 , as a result of the vesting and settlement of restricted stock units under the Earthstone Energy, Inc. Amended and Restated 2014 Long-Term Incentive Plan (the "2014 Plan"), Earthstone issued 167,827 and 569,883 shares, respectively, of Class A Common Stock, of which 49,111 and 151,716 shares, respectively, of Class A Common Stock were retained as treasury stock and canceled to satisfy the related employee income tax liability. During the three and nine months ended September 30, 2018 , as a result of the vesting and settlement of restricted stock units under the 2014 Plan, Earthstone issued 115,574 and 569,585 shares, respectively, of Class A Common Stock, of which 30,511 and 142,937 shares, respectively, of Class A Common Stock were retained as treasury stock and canceled to satisfy the related employee income tax liability. Class B Common Stock At September 30, 2019 and December 31, 2018 , there were 35,416,446 and 35,452,178 shares of Class B Common Stock issued and outstanding, respectively. Each share of Class B Common Stock, together with one EEH Unit, is convertible into one share of Class A Common Stock. No shares were converted during the three months ended September 30, 2019 . During the nine months ended September 30, 2019 , 35,732 shares of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock. During the three and nine months ended September 30, 2018 , 183,894 and 389,135 shares, respectively, of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Restricted Stock Units The 2014 Plan, allows, among other things, for the grant of restricted stock units ("RSUs"). As of September 30, 2019 , the maximum number of shares of Class A Common Stock that may be issued under the 2014 Plan was 6.4 million shares. Each RSU represents the contingent right to receive one share of Class A Common Stock. The holders of outstanding RSUs do not receive dividends or have voting rights prior to vesting and settlement. The Company determines the fair value of granted RSUs based on the market price of the Class A Common Stock on the date of the grant. Compensation expense for granted RSUs is recognized on a straight-line basis over the vesting and is net of forfeitures, as incurred. Stock-based compensation is included in General and administrative expense in the Condensed Consolidated Statements of Operations and is recorded with a corresponding increase in Additional paid-in capital within the Condensed Consolidated Balance Sheets. The table below summarizes RSU award activity for the nine months ended September 30, 2019 : Shares Weighted-Average Grant Date Fair Value Unvested RSUs at December 31, 2018 810,995 $ 8.83 Granted 762,350 $ 6.39 Forfeited (23,084 ) $ 7.64 Vested (569,883 ) $ 8.14 Unvested RSUs at September 30, 2019 980,378 $ 7.36 As of September 30, 2019 , there was $6.9 million of unrecognized compensation expense related to the RSU awards which will be recognized over a weighted average period of 0.94 years . For the three and nine months ended September 30, 2019 , Stock-based compensation related to RSUs was $1.4 million and $4.5 million , respectively. For the three and nine months ended September 30, 2018 , Stock-based compensation related to RSUs was $1.2 million and $4.9 million , respectively. Performance Units The table below summarizes performance unit (“PSU”) activity for the nine months ended September 30, 2019 : Shares Weighted-Average Grant Date Fair Value Unvested PSUs at December 31, 2018 252,500 $ 13.75 Granted 669,550 $ 9.30 Unvested PSUs at September 30, 2019 922,050 $ 10.52 On January 28, 2019, the Board of Directors of Earthstone (the "Board") granted 669,550 PSUs to certain executive officers pursuant to the 2014 Plan. The PSUs are payable in shares of Class A Common Stock based upon the achievement by the Company over a period commencing on February 1, 2019 and ending on January 31, 2022 (the “Performance Period”) of performance criteria established by the Board. The number of shares of Class A Common Stock that may be issued will be determined by multiplying the number of PSUs granted by the Relative Total Shareholder Return ("TSR") Percentage ( 0% to 200% ). The “Relative TSR Percentage” is the percentage, if any, achieved by attainment of a certain predetermined range of targets for the Performance Period. TSR for the Company and each of the peer companies is generally determined by dividing (A) the volume weighted average price of a share of stock for the trading days during the thirty calendar days ending on and including the last calendar day of the Performance Period minus the volume weighted average price of a share of stock for the trading days during the thirty calendar days ending on and including the first day of the Performance Period plus cash dividends paid over the Performance Period by (B) the volume weighted average price of a share of stock for the trading days during the thirty calendar days ending on and including the first day of the Performance Period. The Company accounts for these awards as market-based awards which are valued utilizing the Monte Carlo Simulation pricing model, which calculates multiple potential outcomes for an award and establishes grant date fair value based on the most likely outcome. For the PSUs granted on January 28, 2019, assuming a risk-free rate of 2.6% and volatilities ranging from 40.1% to 114.1% , the Company calculated the weighted average grant date fair value per PSU to be $9.30 . As of September 30, 2019 , there was $6.5 million of unrecognized compensation expense related to the PSU awards which will be amortized over a weighted average period of 1.09 years . For the three and nine months ended September 30, 2019 , Stock-based compensation related to the PSUs was approximately $0.8 million and $2.2 million , respectively. For the three and nine months ended September 30, 2018 , Stock-based compensation related to the PSUs was approximately $0.3 million and $0.7 million , respectively.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Credit Agreement In May, 2017, Earthstone Energy Holdings, LLC (“EEH” or the “Borrower”), a subsidiary of Earthstone, each of Earthstone Operating, LLC, EF Non-Op, LLC, Sabine River Energy, LLC, Earthstone Legacy Properties, LLC, Lynden USA Operating, LLC, Bold Energy III LLC ("Bold"), Bold Operating, LLC, as guarantors (the “Guarantors”), BOKF, NA dba Bank Of Texas, as Agent and Lead Arranger, Wells Fargo Bank, National Association, as Syndication Agent, and the lenders party thereto (the “Lenders”), entered into a credit agreement (as amended, modified or restated from time to time, the “EEH Credit Agreement”). The borrowing base under the EEH Credit Agreement is subject to redetermination on or about May 1st and November 1st of each year. The amounts borrowed under the EEH Credit Agreement bear annual interest rates at either (a) the London Interbank Offered Rate (“LIBOR”) plus 1.75% to 2.75% or (b) the prime lending rate of Bank of Texas plus 0.75% to 1.75% , depending on the amounts borrowed under the EEH Credit Agreement. Principal amounts outstanding under the EEH Credit Agreement are due and payable in full at maturity on May 9, 2022 . All of the obligations under the EEH Credit Agreement, and the guarantees of those obligations, are secured by substantially all of EEH’s assets. Additional payments due under the EEH Credit Agreement include paying a commitment fee of 0.375% or 0.50% , depending on borrowing base utilization, per year to the Lenders in respect of the unutilized commitments thereunder, as well as certain other customary fees. The EEH Credit Agreement contains a number of covenants that, among other things, restrict, subject to certain exceptions, EEH’s ability to incur additional indebtedness, create liens on assets, make investments, enter into sale and leaseback transactions, pay dividends and make distributions or repurchase its limited liability interests, engage in mergers or consolidations, sell certain assets, sell or discount any notes receivable or accounts receivable and engage in certain transactions with affiliates. In addition, the EEH Credit Agreement requires EEH to maintain the following financial covenants: a current ratio, as defined by the EEH Credit Agreement, of not less than 1.0 to 1.0 and a leverage ratio of not greater than 4.0 to 1.0. Leverage ratio means the ratio of (i) the aggregate debt of EEH and its consolidated subsidiaries as at the last day of the fiscal quarter (excluding any debt from obligations relating to non-cash losses under FASB ASC 815 as a result of changes in the fair market value of derivatives) to (ii) the product of EBITDAX for such fiscal quarter multiplied by four . The term “EBITDAX” means, for any period, the sum of consolidated net income for such period plus (a) the following expenses or charges to the extent deducted from consolidated net income in such period: (i) interest, (ii) taxes, (iii) depreciation, (iv) depletion, (v) amortization, (vi) non-cash losses under FASB ASC 815 as a result of changes in the fair market value of derivatives, (vii) exploration expenses, (viii) impairment expenses, and (ix) non-cash compensation expenses and minus (b) to the extent included in consolidated net income in such period, non-cash gains under FASB ASC 815 as a result of changes in the fair market value of derivatives. The EEH Credit Agreement contains customary affirmative covenants and defines events of default to include failure to pay principal or interest, breach of covenants, breach of representations and warranties, insolvency, judgment default, and if Frank A. Lodzinski ceases to serve and function as Chief Executive Officer of EEH and the majority of the Lenders do not approve of Mr. Lodzinski’s successor. Upon the occurrence and continuance of an event of default, the Lenders have the right to accelerate repayment of the loans and exercise their remedies with respect to the collateral. As of September 30, 2019 , EEH was in compliance with the covenants under the EEH Credit Agreement. On May 1, 2019, the borrowing base under the EEH Credit Agreement was increased from $275.0 million to $325.0 million . As of September 30, 2019 , $125.0 million of borrowings were outstanding, bearing annual interest of 4.044% , resulting in an additional $200.0 million of borrowing base availability under the EEH Credit Agreement. At December 31, 2018 , there were $78.8 million of borrowings outstanding under the EEH Credit Agreement. For the nine months ended September 30, 2019 , the Company had borrowings of $165.3 million and $119.1 million in repayments of borrowings. For the three and nine months ended September 30, 2019 , interest on borrowings averaged 4.38% and 4.53% per annum, respectively, which excluded commitment fees of $0.2 million and $0.5 million , respectively, and amortization of deferred financing costs of $0.1 million and $0.3 million , respectively. For the three and nine months ended September 30, 2018 , interest on borrowings averaged 3.94% and 3.91% per annum, respectively, which excluded commitment fees of $0.1 million and $0.6 million , respectively, and amortization of deferred financing costs of $0.1 million and $0.2 million , respectively. During the three and nine months ended September 30, 2019 , $0.04 million and $0.2 million , respectively, of costs associated with the EEH Credit Agreement were capitalized. During the three and nine months ended September 30, 2018 , the Company capitalized $0.1 million and $0.3 million , respectively, of costs associated with the EEH Credit Agreement. These capitalized costs are included in Other noncurrent assets in the Condensed Consolidated Balance Sheets. The Company’s policy is to capitalize the financing costs associated with its debt and amortize those costs on a straight-line basis over the term of the associated debt.

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The Company has asset retirement obligations associated with the future plugging and abandonment of oil and gas properties and related facilities. Revisions to the liability typically occur due to changes in the estimated abandonment costs, well economic lives, and the discount rate. The following table summarizes the Company’s asset retirement obligation transactions recorded during the nine months ended September 30, (in thousands) : 2019 Beginning asset retirement obligations $ 2,229 Liabilities incurred 43 Liabilities settled (179 ) Accretion expense 160 Ending asset retirement obligations $ 2,253

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions FASB ASC Topic 850 , Related Party Disclosures , requires that information about transactions with related parties that would make a difference in decision making shall be disclosed so that users of the financial statements can evaluate their significance. Flatonia Energy, LLC (“Flatonia”), which owns approximately 10.1% of the outstanding Class A Common Stock and approximately 4.6% of the combined voting power of the Company's outstanding Class A and Class B Common Stock as of September 30, 2019 , is a party to a joint operating agreement (the “Operating Agreement”) with the Company. The Operating Agreement covers certain jointly owned oil and natural gas properties located in the Eagle Ford Trend in Texas. In connection with the Operating Agreement, the Company made payments to Flatonia of $3.8 million and $12.1 million and received payments from Flatonia of $2.0 million and $4.9 million for the three and nine months ended September 30, 2019 , respectively. For the three and nine months ended September 30, 2018 , the Company made payments to Flatonia of $0.0 million and $12.4 million and received payments from Flatonia of $0.7 million and $4.8 million , respectively. At September 30, 2019 and December 31, 2018 , amounts receivable from Flatonia in connection with the Operating Agreement were $0.3 million and $0.8 million , respectively. Payables related to revenues outstanding and due to Flatonia as of September 30, 2019 and December 31, 2018 were $1.1 million and $1.6 million , respectively. Earthstone's majority shareholder consists of various investment funds managed by a venture capital firm who may manage other investments in entities with which the Company interacts in the normal course of business. On October 31, 2019, the Company sold certain of its interests in oil and natural gas leases and wells located in Martin County, Texas in an arm’s length transaction to a portfolio company of Earthstone’s majority shareholder for cash consideration of approximately $3.6 million .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal From time to time, the Company and its subsidiaries may be involved in various legal proceedings and claims in the ordinary course of business. Olenik v. Lodzinksi et al.: On June 2, 2017, Nicholas Olenik filed a purported shareholder class and derivative action in the Delaware Court of Chancery against Earthstone’s Chief Executive Officer, along with other members of the Board, EnCap Investments L.P. ("EnCap"), Bold, Bold Energy Holdings, LLC ("Bold Holdings") and Oak Valley Resources, LLC. The complaint alleges that Earthstone’s directors breached their fiduciary duties in connection with the contribution dated as of November 7, 2016 and as amended on March 21, 2017 (the "Bold Contribution Agreement"), by and among Earthstone, EEH, Lynden US, Lynden USA Operating, LLC, Bold Holdings and Bold. The Plaintiff asserts that the directors negotiated the Bold Transaction to benefit EnCap and its affiliates, failed to obtain adequate consideration for the Earthstone shareholders who were not affiliated with EnCap or Earthstone management, did not follow an adequate process in negotiating and approving the Bold Transaction and made materially misleading or incomplete proxy disclosures in connection with the Bold Transaction. The suit seeks unspecified damages and purports to assert claims derivatively on behalf of Earthstone and as a class action on behalf of all persons who held Common Stock up to March 13, 2017, excluding defendants and their affiliates. On July 20, 2018, the Delaware Court of Chancery granted the defendants' motion to dismiss and entered an order dismissing the action in its entirety with prejudice. The Plaintiff filed an appeal with the Delaware Supreme Court. On February 6, 2019, the Delaware Supreme Court heard oral arguments from the Plaintiff and Defendants' counsel. On April 5, 2019, the Delaware Supreme Court affirmed the Delaware Court of Chancery’s dismissal of the proxy disclosure claims but reversed the Delaware Court of Chancery’s dismissal of the other claims, holding that the allegations with respect to those claims were sufficient for pleading purposes. Earthstone and each of the other defendants believe the claims are entirely without merit and intend to mount a vigorous defense. The ultimate outcome of this suit is uncertain, and while Earthstone is confident in its position, any potential monetary recovery or loss to Earthstone cannot be estimated at this time. Environmental and Regulatory As of September 30, 2019 , there were no known environmental or other regulatory matters related to the Company’s operations that are reasonably expected to result in a material liability to the Company.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s corporate structure requires the filing of two separate consolidated U.S. Federal income tax returns and one Canadian income tax return which include Lynden US, Earthstone, and Lynden Corp. As such, taxable income of Earthstone cannot be offset by tax attributes, including net operating losses, of Lynden US, nor can taxable income of Lynden US be offset by tax attributes of Earthstone. Earthstone and Lynden US record a tax provision, respectively, for their share of the book income or loss of EEH, net of the non-controlling interest. As EEH is treated as a partnership for U.S. Federal income tax purposes, it is not subject to income tax at the federal level and only recognizes the Texas Margin Tax. During the nine months ended September 30, 2019 , the Company recorded income tax expense of approximately $0.7 million which included (1) income tax expense for Lynden US of $0.1 million as a result of its share of the distributable income from EEH, (2) deferred income tax expense for Earthstone of $0.6 million as a result of its share of the distributable income from EEH, which was used to reduce the valuation allowance recorded against its deferred tax asset which was previously recorded as future realization of the net deferred tax asset cannot be assured and (3) deferred income tax expense of $0.6 million related to the Texas Margin Tax. Lynden Corp incurred no material income or loss, or related income tax expense or benefit, for the nine months ended September 30, 2019 . During the nine months ended September 30, 2018 , the Company recorded income tax expense of approximately $0.1 million which included (1) income tax expense for Lynden US of $0.3 million as a result of its share of the distributable income from EEH, offset by a $0.5 million discrete income tax benefit related to refundable AMT tax credits resulting from the Tax Cuts and Jobs Act ("TCJA"), (2) income tax expense for Earthstone of $1.1 million as a result of its share of the distributable income from EEH, which was used to reduce the valuation allowance recorded against its deferred tax asset which was previously recorded as future realization of the net deferred tax asset cannot be assured and (3) deferred income tax expense of $0.3 million related to the Texas Margin Tax. Lynden Corp incurred no material income or loss, or related income tax expense or benefit, for the nine months ended September 30, 2018 .

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases Our operating lease activities consist of leases for office space. Our finance lease activities consist of leases for vehicles. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Most leases include one or more options to renew, with renewal terms generally ranging from one to three years. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. None of our lease agreements include variable lease payments. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. See discussion of the January 1, 2019 implementation impact at Note 1. Basis of Presentation and Summary of Significant Accounting Policies . Supplemental balance sheet information as of September 30, 2019 for our leases is as follows (in thousands) : Leases Balance Sheet Location Assets Noncurrent: Operating Operating lease right-of-use assets $ 3,295 Finance Office and other equipment, net of accumulated depreciation and amortization 630 Total lease assets $ 3,925 Liabilities Current: Operating Operating lease liabilities $ 586 Finance Finance lease liabilities 256 Noncurrent: Operating Operating lease liabilities 2,722 Finance Finance lease liabilities 111 Total lease liabilities $ 3,675 *The difference between assets and liabilities includes a $0.1 million adjustment to NCI and a $0.07 million adjustment to accumulated deficit, both at the beginning of the period as part of the ASC 842 implementation adjustment. Our operating lease expenses for the three and nine months ended September 30, 2019 were $0.2 million and $0.6 million , respectively, and are included in General and administrative expense in our Condensed Consolidated Statements of Operations. Our finance lease expenses for the three and nine months ended September 30, 2019 were $0.1 million and $0.3 million , respectively, and are included in depreciation, depletion and amortization expense and interest expense, net in our Condensed Consolidated Statements of Operations. Additionally, we capitalized as part of oil and gas properties $2.6 million and $6.7 million of short-term lease costs related to drilling rig contracts during the three and nine months ended September 30, 2019 . All of our drilling rig contracts have enforceable terms of less than one year. Minimum contractual obligations for our leases (undiscounted) as of September 30, 2019 are as follows (in thousands) : Operating Finance 2019 (excluding nine months ended September 30, 2019) $ 207 $ 81 2020 632 219 2021 791 84 2022 696 5 2023 596 — Thereafter 757 — Total lease payments $ 3,679 $ 389 Less imputed interest (371 ) (22 ) Total lease liability $ 3,308 $ 367 Cash payments for our operating leases were $0.2 million and $0.6 million , respectively, for the three and nine months ended September 30, 2019 . Cash payments for our finance leases were $0.1 million and $0.4 million , respectively, for the three and nine months ended September 30, 2019 . For the three and nine months ended September 30, 2019 there were $2.6 million and $3.2 million of right-of-use assets obtained in exchange for lease obligations for our operating leases. The amounts related to our finance leases were not material to our consolidated financial statements. As of September 30, 2019 , the weighted average remaining lease terms of our operating and finance leases were 2.2 years and 1.6 years, respectively. The weighted average discount rates used to determine the lease liabilities as of September 30, 2019 for our operating and finance leases were 4.35% and 6.69% , respectively. The discount rate used for operating leases is based on the Company's incremental borrowing rate. The discount rate used for finance leases is based on the rates implicit in the leases.
Leases	Leases Our operating lease activities consist of leases for office space. Our finance lease activities consist of leases for vehicles. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Most leases include one or more options to renew, with renewal terms generally ranging from one to three years. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. None of our lease agreements include variable lease payments. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. See discussion of the January 1, 2019 implementation impact at Note 1. Basis of Presentation and Summary of Significant Accounting Policies . Supplemental balance sheet information as of September 30, 2019 for our leases is as follows (in thousands) : Leases Balance Sheet Location Assets Noncurrent: Operating Operating lease right-of-use assets $ 3,295 Finance Office and other equipment, net of accumulated depreciation and amortization 630 Total lease assets $ 3,925 Liabilities Current: Operating Operating lease liabilities $ 586 Finance Finance lease liabilities 256 Noncurrent: Operating Operating lease liabilities 2,722 Finance Finance lease liabilities 111 Total lease liabilities $ 3,675 *The difference between assets and liabilities includes a $0.1 million adjustment to NCI and a $0.07 million adjustment to accumulated deficit, both at the beginning of the period as part of the ASC 842 implementation adjustment. Our operating lease expenses for the three and nine months ended September 30, 2019 were $0.2 million and $0.6 million , respectively, and are included in General and administrative expense in our Condensed Consolidated Statements of Operations. Our finance lease expenses for the three and nine months ended September 30, 2019 were $0.1 million and $0.3 million , respectively, and are included in depreciation, depletion and amortization expense and interest expense, net in our Condensed Consolidated Statements of Operations. Additionally, we capitalized as part of oil and gas properties $2.6 million and $6.7 million of short-term lease costs related to drilling rig contracts during the three and nine months ended September 30, 2019 . All of our drilling rig contracts have enforceable terms of less than one year. Minimum contractual obligations for our leases (undiscounted) as of September 30, 2019 are as follows (in thousands) : Operating Finance 2019 (excluding nine months ended September 30, 2019) $ 207 $ 81 2020 632 219 2021 791 84 2022 696 5 2023 596 — Thereafter 757 — Total lease payments $ 3,679 $ 389 Less imputed interest (371 ) (22 ) Total lease liability $ 3,308 $ 367 Cash payments for our operating leases were $0.2 million and $0.6 million , respectively, for the three and nine months ended September 30, 2019 . Cash payments for our finance leases were $0.1 million and $0.4 million , respectively, for the three and nine months ended September 30, 2019 . For the three and nine months ended September 30, 2019 there were $2.6 million and $3.2 million of right-of-use assets obtained in exchange for lease obligations for our operating leases. The amounts related to our finance leases were not material to our consolidated financial statements. As of September 30, 2019 , the weighted average remaining lease terms of our operating and finance leases were 2.2 years and 1.6 years, respectively. The weighted average discount rates used to determine the lease liabilities as of September 30, 2019 for our operating and finance leases were 4.35% and 6.69% , respectively. The discount rate used for operating leases is based on the Company's incremental borrowing rate. The discount rate used for finance leases is based on the rates implicit in the leases.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Leases – In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842): Amendments to the FASB Accounting Standards Codification (“ASU 2016-02”). In January 2018, the FASB issued ASU No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842 (“ASU 2018-01”). In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”). Together these related amendments to GAAP represent Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC Topic 842”). ASU 2016-02 requires lessees to recognize lease assets and liabilities (with terms in excess of 12 months) on the balance sheet and disclose key quantitative and qualitative information about leasing arrangements. The Company completed a comprehensive assessment of existing contracts, as well as future potential contracts, to determine the impact of the new accounting guidance on its consolidated financial statements and related disclosures. The evaluation process included review of contracts for drilling rigs, office facilities, compression services, field vehicles and equipment, general corporate leased equipment, and other existing arrangements to support its operations that may contain a lease component. The Company's evaluation process did not include review of its mineral leases as they are outside the scope of ASC Topic 842. The Company adopted this guidance on January 1, 2019, the transition date, using the simplified transition method described in ASU 2018-11 which allows entities to continue to apply historical accounting guidance in the comparative periods presented in the year of adoption. Accordingly, prior period amounts in our financial statements are not adjusted and continue to be reported in accordance with historical accounting guidance. The Company elected the package of practical expedients within ASU 2016-02 that allows an entity to not reassess, prior to the effective date, (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases or (iii) initial direct costs for any existing leases. Additionally, the Company elected the practical expedient under ASU 2018-01 to not evaluate existing or expired land easements not previously accounted for as leases prior to the effective date. The Company made an accounting policy election not to apply the lease recognition requirements to short-term leases. The adoption of ASC Topic 842 did not have a material impact on the Company's financial statements, resulted in increases of less than 1% to each of its total assets and total liabilities on the balance sheet, and resulted in an immaterial decrease to accumulated deficit as of the beginning of 2019. See Note 14. Leases for further information. Intangibles - Goodwill and Other – In January 2017, the FASB issued updated guidance simplifying the test for goodwill impairment. The update eliminates Step 2 of the goodwill impairment test. Instead, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The update is effective for annual and interim periods beginning after December 15, 2019 and early adoption is permitted for interim or annual goodwill impairment tests performed after January 1, 2017. The Company is in the process of evaluating the impact of this guidance, if any, on its Consolidated Financial Statements. Fair Value Measurements – In August 2018, the FASB issued an update which modifies the disclosure requirements on fair value measurements in Topic 820. The ASU is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company is in the process of evaluating the impact of this update, if any, on its Consolidated Financial Statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Fair Value of Financial Assets and Liabilities	The following table summarizes the fair value of the Company’s financial assets and liabilities, by level within the fair-value hierarchy (in thousands) : September 30, 2019 Level 1 Level 2 Level 3 Total Financial assets Derivative asset - current $ — $ 20,179 $ — $ 20,179 Derivative asset - noncurrent — 9,246 — 9,246 Total financial assets $ — $ 29,425 $ — $ 29,425 Financial liabilities Derivative liability - current $ — $ 137 $ — $ 137 Derivative liability - noncurrent — 29 — 29 Total financial liabilities $ — $ 166 $ — $ 166 December 31, 2018 Financial assets Derivative asset - current $ — $ 43,888 $ — $ 43,888 Derivative asset - noncurrent 21,121 21,121 Total financial assets $ — $ 65,009 $ — $ 65,009 Financial liabilities Derivative liability - current $ — $ 528 $ — $ 528 Derivative liability - noncurrent — 1,891 — 1,891 Total financial liabilities $ — $ 2,419 $ — $ 2,419

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Open Crude Oil and Natural Gas Derivative Contracts	The Company had the following open crude oil and natural gas derivative contracts as of September 30, 2019 : Price Swaps Period Commodity Volume (Bbls / MMBtu) Weighted Average Price ($/Bbl / $/MMBtu) Q4 2019 Crude Oil 671,600 $ 64.31 Q1 - Q4 2020 Crude Oil 2,562,000 $ 61.26 Q1 - Q4 2021 Crude Oil 730,000 $ 55.00 Q4 2019 Crude Oil Basis Swap(1) 506,000 $ (5.29 ) Q4 2019 Crude Oil Basis Swap(2) 92,000 $ 4.50 Q1 - Q4 2020 Crude Oil Basis Swap(1) 2,562,000 $ (1.40 ) Q1 - Q4 2021 Crude Oil Basis Swap(1) 730,000 $ 0.85 Q4 2019 Natural Gas 782,000 $ 2.85 Q1 - Q4 2020 Natural Gas 2,562,000 $ 2.85 Q4 2019 Natural Gas Basis Swap(3) 782,000 $ (1.15 ) Q1 - Q4 2020 Natural Gas Basis Swap(3) 2,562,000 $ (1.07 ) (1) The basis differential price is between WTI Midland Argus Crude and the WTI NYMEX. (2) The basis differential price is between LLS Argus Crude and the WTI NYMEX. (3) The basis differential price is between W. Texas (WAHA) and the Henry Hub NYMEX.
Schedule of Location and Fair Value Amounts of All Derivative Instruments	The following table summarizes the location and fair value amounts of all derivative instruments in the Condensed Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Condensed Consolidated Balance Sheets (in thousands) : September 30, 2019 December 31, 2018 Derivatives not designated as hedging contracts under ASC Topic 815 Balance Sheet Location Gross Recognized Assets / Liabilities Gross Amounts Offset Net Recognized Assets / Liabilities Gross Recognized Assets / Liabilities Gross Amounts Offset Net Recognized Assets / Liabilities Commodity contracts Derivative asset - current $ 27,014 $ (6,835 ) $ 20,179 $ 48,662 $ (4,774 ) $ 43,888 Commodity contracts Derivative liability - current $ 6,972 $ (6,835 ) $ 137 $ 5,302 $ (4,774 ) $ 528 Commodity contracts Derivative asset - noncurrent $ 10,650 $ (1,404 ) $ 9,246 $ 23,605 $ (2,484 ) $ 21,121 Commodity contracts Derivative liability - noncurrent $ 1,433 $ (1,404 ) $ 29 $ 4,375 $ (2,484 ) $ 1,891
Summary of Realized and Unrealized Gains and Losses on Derivative Instruments	The following table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivatives instruments in the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows (in thousands) : Derivatives not designated as hedging contracts under ASC Topic 815 Three Months Ended Nine Months Ended Statement of Cash Flows Location Statement of Operations Location 2019 2018 2019 2018 Unrealized gain (loss) Not separately presented Not separately presented $ 15,021 $ (13,105 ) $ (33,332 ) $ (19,963 ) Realized gain (loss) Operating portion of net cash paid in settlement of derivative contracts Not separately presented 3,705 (4,376 ) 13,660 (13,643 ) Total gain (loss) on derivative contracts, net Gain (loss) on derivative contracts, net $ 18,726 $ (17,481 ) $ (19,672 ) $ (33,606 )

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2019
Noncontrolling Interest [Abstract]
Summary of Changes in Noncontrolling Interest	The following table presents the changes in noncontrolling interest for the nine months ended September 30, 2019 : EEH Units Held By Earthstone and Lynden US % EEH Units Held By Others % Total EEH Units Outstanding As of December 31, 2018 28,696,321 44.7 % 35,452,178 55.3 % 64,148,499 EEH Units and Class B Common Stock converted to Class A Common Stock 35,732 (35,732 ) — EEH Units issued in connection with the vesting of restricted stock units 418,167 — 418,167 As of September 30, 2019 29,150,220 45.1 % 35,416,446 54.9 % 64,566,666

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Reconciliation of Net (Loss) Income Per Common Share	A reconciliation of Net income per common share is as follows: Three Months Ended Nine Months Ended (In thousands, except per share amounts) 2019 2018 2019 2018 Net income attributable to Earthstone Energy, Inc. $ 11,770 $ 224 $ 3,343 $ 6,195 Net income per common share attributable to Earthstone Energy, Inc.: Basic $ 0.41 $ 0.01 $ 0.12 $ 0.22 Diluted $ 0.41 $ 0.01 $ 0.12 $ 0.22 Weighted average common shares outstanding Basic 29,032,842 28,257,376 28,883,907 28,011,298 Add potentially dilutive securities: Unvested restricted stock units — 54,383 — 97,067 Unvested performance units — — — — Diluted weighted average common shares outstanding 29,032,842 28,311,759 28,883,907 28,108,365

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of Unvested RSU and PSU Award Activity	The table below summarizes performance unit (“PSU”) activity for the nine months ended September 30, 2019 : Shares Weighted-Average Grant Date Fair Value Unvested PSUs at December 31, 2018 252,500 $ 13.75 Granted 669,550 $ 9.30 Unvested PSUs at September 30, 2019 922,050 $ 10.52 The table below summarizes RSU award activity for the nine months ended September 30, 2019 : Shares Weighted-Average Grant Date Fair Value Unvested RSUs at December 31, 2018 810,995 $ 8.83 Granted 762,350 $ 6.39 Forfeited (23,084 ) $ 7.64 Vested (569,883 ) $ 8.14 Unvested RSUs at September 30, 2019 980,378 $ 7.36

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]
Summary of Asset Retirement Obligation Transactions	The following table summarizes the Company’s asset retirement obligation transactions recorded during the nine months ended September 30, (in thousands) : 2019 Beginning asset retirement obligations $ 2,229 Liabilities incurred 43 Liabilities settled (179 ) Accretion expense 160 Ending asset retirement obligations $ 2,253

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Lease Assets and Liabilities	Supplemental balance sheet information as of September 30, 2019 for our leases is as follows (in thousands) : Leases Balance Sheet Location Assets Noncurrent: Operating Operating lease right-of-use assets $ 3,295 Finance Office and other equipment, net of accumulated depreciation and amortization 630 Total lease assets $ 3,925 Liabilities Current: Operating Operating lease liabilities $ 586 Finance Finance lease liabilities 256 Noncurrent: Operating Operating lease liabilities 2,722 Finance Finance lease liabilities 111 Total lease liabilities $ 3,675 *The difference between assets and liabilities includes a $0.1 million adjustment to NCI and a $0.07 million adjustment to accumulated deficit, both at the beginning of the period as part of the ASC 842 implementation adjustment.
Finance Lease, Liability, Maturity	Minimum contractual obligations for our leases (undiscounted) as of September 30, 2019 are as follows (in thousands) : Operating Finance 2019 (excluding nine months ended September 30, 2019) $ 207 $ 81 2020 632 219 2021 791 84 2022 696 5 2023 596 — Thereafter 757 — Total lease payments $ 3,679 $ 389 Less imputed interest (371 ) (22 ) Total lease liability $ 3,308 $ 367
Lessee, Operating Lease, Liability, Maturity	Minimum contractual obligations for our leases (undiscounted) as of September 30, 2019 are as follows (in thousands) : Operating Finance 2019 (excluding nine months ended September 30, 2019) $ 207 $ 81 2020 632 219 2021 791 84 2022 696 5 2023 596 — Thereafter 757 — Total lease payments $ 3,679 $ 389 Less imputed interest (371 ) (22 ) Total lease liability $ 3,308 $ 367

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financial assets
Derivative asset - current	$ 20,179	$ 43,888
Derivative asset - noncurrent	9,246	21,121
Financial liabilities
Derivative liability - current	137	528
Derivative liability - noncurrent	29	1,891
Fair Value on a Recurring Basis
Financial assets
Derivative asset - current	20,179	43,888
Derivative asset - noncurrent	9,246	21,121
Total financial assets	29,425	65,009
Financial liabilities
Derivative liability - current	137	528
Derivative liability - noncurrent	29	1,891
Total financial liabilities	166	2,419
Level 1 | Fair Value on a Recurring Basis
Financial assets
Derivative asset - current	0	0
Derivative asset - noncurrent	0
Total financial assets	0	0
Financial liabilities
Derivative liability - current	0	0
Derivative liability - noncurrent	0	0
Total financial liabilities	0	0
Level 2 | Fair Value on a Recurring Basis
Financial assets
Derivative asset - current	20,179	43,888
Derivative asset - noncurrent	9,246	21,121
Total financial assets	29,425	65,009
Financial liabilities
Derivative liability - current	137	528
Derivative liability - noncurrent	29	1,891
Total financial liabilities	166	2,419
Level 3 | Fair Value on a Recurring Basis
Financial assets
Derivative asset - current	0	0
Derivative asset - noncurrent	0
Total financial assets	0	0
Financial liabilities
Derivative liability - current	0	0
Derivative liability - noncurrent	0	0
Total financial liabilities	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule of Open Crude Oil and Natural Gas Derivative Contracts (Details)	9 Months Ended
	Sep. 30, 2019MMBTU$ / MMBTU$ / bblbbl
Q4 2019 | Natural Gas Basis Swap
Derivative [Line Items]
Natural gas volume (MMBtu) | MMBTU	782,000
Q4 2019 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	671,600
Weighted Average Price ($/Bbl / $/MMBtu)	64.31
Q1 - Q4 2020 | Natural Gas Basis Swap
Derivative [Line Items]
Natural gas volume (MMBtu) | MMBTU	2,562,000
Q1 - Q4 2020 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	2,562,000
Weighted Average Price ($/Bbl / $/MMBtu)	61.26
Q1 - Q4 2021 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	730,000
Weighted Average Price ($/Bbl / $/MMBtu)	55
Q4 2019 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	506,000
Q4 2019 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	92,000
Weighted Average Price ($/Bbl / $/MMBtu)	4.50
Q1 - Q4 2020 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	2,562,000
Q1 - Q4 2021 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	730,000
Q4 2019
Derivative [Line Items]
Natural gas volume (MMBtu) | MMBTU	782,000
Weighted Average Price ($/Bbl / $/MMBtu)	2.85
Q1 - Q4 2020
Derivative [Line Items]
Natural gas volume (MMBtu) | MMBTU	2,562,000
Weighted Average Price ($/Bbl / $/MMBtu)	2.85
Short | Q4 2019 | Natural Gas Basis Swap
Derivative [Line Items]
Weighted Average Price ($/Bbl / $/MMBtu) | $ / MMBTU	(1.15)
Short | Q1 - Q4 2020 | Natural Gas Basis Swap
Derivative [Line Items]
Weighted Average Price ($/Bbl / $/MMBtu) | $ / MMBTU	(1.07)
Short | Q4 2019 | Crude Oil
Derivative [Line Items]
Weighted Average Price ($/Bbl / $/MMBtu)	(5.29)
Short | Q1 - Q4 2020 | Crude Oil
Derivative [Line Items]
Weighted Average Price ($/Bbl / $/MMBtu)	(1.40)
Short | Q1 - Q4 2021 | Crude Oil
Derivative [Line Items]
Weighted Average Price ($/Bbl / $/MMBtu)	0.85

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Location and Fair Value Amounts of All Derivative Instruments (Details) - Derivatives Not Designated as Hedging Contracts - Commodity Contracts - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative asset - current
Derivative Asset [Abstract]
Gross Recognized Assets	$ 27,014	$ 48,662
Gross Amounts Offset, Assets	(6,835)	(4,774)
Total financial assets	20,179	43,888
Derivative liability - current
Derivative Liability [Abstract]
Gross Recognized Liabilities	6,972	5,302
Gross Amounts Offset, Liabilities	(6,835)	(4,774)
Total financial liabilities	137	528
Derivative asset - noncurrent
Derivative Asset [Abstract]
Gross Recognized Assets	10,650	23,605
Gross Amounts Offset, Assets	(1,404)	(2,484)
Total financial assets	9,246	21,121
Derivative liability - noncurrent
Derivative Liability [Abstract]
Gross Recognized Liabilities	1,433	4,375
Gross Amounts Offset, Liabilities	(1,404)	(2,484)
Total financial liabilities	$ 29	$ 1,891

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Realized and Unrealized Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Realized gain (loss)			$ (13,660)	$ 13,643
(Loss) gain on commodity contracts, net	$ 18,726	$ (17,481)	(19,672)	(33,606)
Derivatives Not Designated as Hedging Contracts | (Loss) Gain On Derivative Contracts, Net
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss)	15,021	(13,105)	(33,332)	(19,963)
Realized gain (loss)	3,705	(4,376)	13,660	(13,643)
(Loss) gain on commodity contracts, net	$ 18,726	$ (17,481)	$ (19,672)	$ (33,606)

Oil and Natural Gas Properties

Oil and Natural Gas Properties (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Oil And Natural Gas Properties [Line Items]
Impairment of proved and unproved oil and gas properties	$ 0	$ 833,000	$ 0	$ 833,000
Proved Oil and Natural Gas Properties
Oil And Natural Gas Properties [Line Items]
Depletion expenses	$ 13,900,000	12,700,000	$ 41,700,000	33,000,000
Unproved Oil and Gas Properties
Oil And Natural Gas Properties [Line Items]
Impairment of proved and unproved oil and gas properties		$ 800,000		$ 800,000
Unproved Oil and Gas Properties | Minimum
Oil And Natural Gas Properties [Line Items]
Unproved oil and gas lease term			3 years
Unproved Oil and Gas Properties | Maximum
Oil And Natural Gas Properties [Line Items]
Unproved oil and gas lease term			5 years

Noncontrolling Interest - Summ

Noncontrolling Interest - Summary of Changes in Noncontrolling Interest (Details)	9 Months Ended
	Sep. 30, 2019shares	Dec. 31, 2018
Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)	28,696,321
Outstanding, ending balance (in shares)	29,150,220
Earthstone Energy Holdings, LLC
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)	64,148,499
Outstanding, ending balance (in shares)	64,566,666
Earthstone Energy Holdings, LLC | Restricted Stock Units
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the vesting of restricted stock units (in shares)	418,167
Earthstone Energy Holdings, LLC | Bold Transaction | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	0
EEH Units Held By Earthstone and Lynden US | Earthstone Energy Holdings, LLC
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)	28,696,321
Outstanding, ending balance (in shares)	29,150,220
Percentage of EEH Units Held By Earthstone and Lynden	45.10%	44.70%
EEH Units Held By Earthstone and Lynden US | Earthstone Energy Holdings, LLC | Restricted Stock Units
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the vesting of restricted stock units (in shares)	418,167
EEH Units Held By Earthstone and Lynden US | Earthstone Energy Holdings, LLC | Bold Transaction | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	35,732
EEH Units Held By Others | Earthstone Energy Holdings, LLC
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)	35,452,178
Outstanding, ending balance (in shares)	35,416,446
Percentage of EEH Units Held By Others	54.90%	55.30%
EEH Units Held By Others | Earthstone Energy Holdings, LLC | Bold Transaction | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	(35,732)

Net Income Per Common Share -

Net Income Per Common Share - Reconciliation of Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income (loss) attributable to Earthstone Energy, Inc.	$ 11,770	$ 224	$ 3,343	$ 6,195
Net income per common share attributable to Earthstone Energy, Inc.:
Basic (in dollars per share)	$ 0.41	$ 0.01	$ 0.12	$ 0.22
Diluted (in dollars per share)	$ 0.41	$ 0.01	$ 0.12	$ 0.22
Weighted average common shares outstanding
Basic (in shares)	29,032,842	28,257,376	28,883,907	28,011,298
Add potentially dilutive securities:
Unvested restricted stock units (in shares)	0	54,383	0	97,067
Unvested performance units (in shares)	0	0	0	0
Diluted weighted average common shares outstanding (in shares)	29,032,842	28,311,759	28,883,907	28,108,365

Net Income Per Common Share _2

Net Income Per Common Share - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income (loss) attributable to noncontrolling interest	$ 14,357,000	$ 340,000	$ 3,877,000	$ 8,032,000
Dilutive effect on net income (loss) per common share attributable to Earthstone Energy, Inc			$ 0

Common Stock (Details)

Common Stock (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Member Units | Bold Contribution Agreement
Capital Unit [Line Items]
Stock conversion (in shares)			1
Class A Common Stock
Capital Unit [Line Items]
Common stock, shares issued (in shares)	29,150,220		29,150,220		28,696,321
Common stock, shares outstanding (in shares)	29,150,220		29,150,220		28,696,321
Class A Common Stock | Bold Contribution Agreement
Capital Unit [Line Items]
Stock conversion (in shares)			1
Class A Common Stock | 2014 Plan
Capital Unit [Line Items]
Common shares issued during period under stock plan (in shares)	167,827	115,574	569,883	569,585
Common stock repurchased (in shares)	49,111	30,511	151,716	142,937
Class B Common Stock
Capital Unit [Line Items]
Common stock, shares issued (in shares)	35,416,446		35,416,446		35,452,178
Common stock, shares outstanding (in shares)	35,416,446		35,416,446		35,452,178
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	35,732	183,894	35,732	389,135

Stock-Based Compensation - Nar

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 28, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based restricted stock granted (in shares)				762,350
Weighted average fair value per share (in dollars per share)		$ 7.36		$ 7.36		$ 8.83
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based restricted stock granted (in shares)				669,550
Threshold trading days				30 days
Weighted average fair value per share (in dollars per share)		$ 10.52		$ 10.52		$ 13.75
2014 Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be issued under the plan (in shares)		6,400,000		6,400,000
Unrecognized compensation expense related to unvested stock		$ 6.9		$ 6.9
Weighted average remaining vesting period of unrecognized compensation expense				11 months 7 days
Stock-based compensation expense		1.4	$ 1.2	$ 4.5	$ 4.9
2014 Plan | Restricted Stock Units | Bold Contribution Agreement | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock that each holder has contingent right to receive (in shares)				1
2014 Plan | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 0.8	$ 0.3	$ 2.2	$ 0.7
Performance-based restricted stock granted (in shares)	669,550
Risk-free interest rate				2.60%
Expected volatility, minimum				40.10%
Expected volatility, maximum				114.10%
Weighted average fair value per share (in dollars per share)		$ 9.30		$ 9.30
Unrecognized compensation expense related to PSU awards		$ 6.5		$ 6.5
Remaining vesting period of unrecognized compensation expense (in years)				1 year 1 month 3 days
Minimum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Relative total shareholder return, percentage	0.00%
Maximum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Relative total shareholder return, percentage	200.00%

Stock-Based Compensation - Sum

Stock-Based Compensation - Summary of Unvested RSU Award Activity (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Restricted Stock Units
Shares
Unvested RSUs at beginning period (in shares) | shares	810,995
Granted (in shares) | shares	762,350
Forfeited (in shares) | shares	(23,084)
Vested (in shares) | shares	(569,883)
Unvested RSUs at end period (in shares) | shares	980,378
Weighted-Average Grant Date Fair Value
Unvested RSUs at beginning of period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 8.83
Granted, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	6.39
Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	7.64
Vested, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	8.14
Unvested RSUs at end of period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 7.36
Performance Stock Units
Shares
Unvested RSUs at beginning period (in shares) | shares	252,500
Granted (in shares) | shares	669,550
Unvested RSUs at end period (in shares) | shares	922,050
Weighted-Average Grant Date Fair Value
Unvested RSUs at beginning of period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 13.75
Granted, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	9.30
Unvested RSUs at end of period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 10.52

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2017	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	May 01, 2019USD ($)	Apr. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Long-term debt outstanding		$ 125,000		$ 125,000				$ 78,828
Long-term debt, percentage bearing annual interest rate		4.0435%		4.0435%
Amount of borrowings		$ 165,300		$ 165,300
Repayments of borrowings				$ 119,100
Averaged interest rate on borrowings		4.38%	3.94%	4.53%	3.91%
Commitment fees on borrowings		$ 200	$ 100	$ 500	$ 600
Amortization of deferred financing costs		100	100	336	228
EEH Credit Agreement
Debt Instrument [Line Items]
Credit agreement, covenant, current ratio	1
Credit agreement, covenant, leverage ratio	4
EBITDAX multiplier	4
Current borrowing base under EEH credit agreement						$ 325,000	$ 275,000
Long-term debt outstanding		125,000		125,000				$ 78,800
Additional borrowing base available under credit agreement		200,000		200,000
Capitalized costs associated with borrowings		$ 40		$ 200
EEH Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.375%
EEH Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
EEH Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Applicable margin percentage	1.75%
EEH Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Applicable margin percentage	2.75%
EEH Credit Agreement | Prime Rate | Minimum
Debt Instrument [Line Items]
Applicable margin percentage	0.75%
EEH Credit Agreement | Prime Rate | Maximum
Debt Instrument [Line Items]
Applicable margin percentage	1.75%
Earthstone Energy Credit Agreement
Debt Instrument [Line Items]
Capitalized costs associated with borrowings			$ 100		$ 300

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning asset retirement obligations			$ 2,229
Liabilities incurred			43
Liabilities settled			(179)
Accretion expense	$ 52	$ 44	160	$ 128
Ending asset retirement obligations	$ 2,253		$ 2,253

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	Oct. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Flatonia Energy, LLC
Related Party Transaction [Line Items]
Payments made to related party		$ 3.8	$ 0	$ 12.1	$ 12.4
Payments received from related party		2	$ 0.7	4.9	$ 4.8
Amounts receivable from related party		0.3		0.3		$ 0.8
Amounts payable to related party		$ 1.1		$ 1.1		$ 1.6
Flatonia Energy, LLC | Class A Common Stock
Related Party Transaction [Line Items]
Percentage of common stock acquired				10.10%
Flatonia Energy, LLC | Common Class A and Common Class B
Related Party Transaction [Line Items]
Percentage of common stock acquired				4.60%
Subsequent Event
Related Party Transaction [Line Items]
Payments received from related party	$ 3.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Line Items]
Income tax expense (benefit)	$ 575	$ 172	$ 728	$ 119
Deferred income tax expense (benefit)			728	119
Income tax benefit related to refundable AMT tax credits				500
Earthstone Energy Holdings, LLC
Income Tax Disclosure [Line Items]
Income tax expense (benefit)			600	1,100
Deferred income tax expense (benefit)			600	300
Lynden US
Income Tax Disclosure [Line Items]
Income tax expense (benefit)			$ 100	$ 300

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Lease, Assets, Noncurrent [Abstract]
Operating lease right-of-use assets	$ 3,295
Office and other equipment, net of accumulated depreciation and amortization	630
Total lease assets	3,925
Lease, Liabilities, Current [Abstract]
Operating lease liabilities	586
Finance lease liabilities	256
Lease, Liabilities, Noncurrent [Abstract]
Operating lease liabilities	2,722
Finance lease liabilities	111
Total lease liabilities	$ 3,675
Adjustments for ASC 842 implementation		$ 166
Noncontrolling Interest
Lease, Liabilities, Noncurrent [Abstract]
Adjustments for ASC 842 implementation		99
Accumulated Deficit
Lease, Liabilities, Noncurrent [Abstract]
Adjustments for ASC 842 implementation		67
Accounting Standards Update 2016-02 | Noncontrolling Interest
Lease, Liabilities, Noncurrent [Abstract]
Adjustments for ASC 842 implementation		100
Accounting Standards Update 2016-02 | Accumulated Deficit
Lease, Liabilities, Noncurrent [Abstract]
Adjustments for ASC 842 implementation		$ 70

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 200	$ 600
Finance lease expense	100	300
Short term lease costs	2,600	6,700
Cash paid for operating leases	200	600
Cash paid for finance leases	100	355	$ 0
Right-of-use assets obtained in exchange for lease obligations	$ 2,600	$ 3,200
Operating lease, weighted average lease term	2 years 2 months	2 years 2 months
Finance lease, weighted average lease term	1 year 7 months 1 day	1 year 7 months 1 day
Operating lease, weighted average discount rate (as a percent)	4.35%	4.35%
Finance lease, weighted average discount rate (as a percent)	6.69%	6.69%
Minimum
Lessee, Lease, Description [Line Items]
Renewal term		1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term		3 years

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating
2019 (excluding nine months ended September 30, 2019)	$ 207
2020	632
2021	791
2022	696
2023	596
Thereafter	757
Total lease payments	3,679
Less imputed interest	(371)
Total lease liability	3,308
Finance
2019 (excluding nine months ended September 30, 2019)	81
2020	219
2021	84
2022	5
2023	0
Thereafter	0
Total lease payments	389
Less imputed interest	(22)
Total lease liability	$ 367

Uncategorized Items - este-2019

Label	Element	Value
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 67,000