Earthstone Energy (ESTE) 10-K 8 Mar 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 02, 2023	Jun. 30, 2022
Document And Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35049
Entity Registrant Name	EARTHSTONE ENERGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-0592823
Entity Address, Address Line One	1400 Woodloch Forest Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	281
Local Phone Number	298-4246
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	ESTE
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 586,314,541
Entity Common Stock, Shares Outstanding		140,443,172
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders (the “Proxy Statement”), are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000010254
Class A Common Stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		106,183,531
Class B Common Stock
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		34,259,641

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	659
Auditor Name	Moss Adams LLP
Auditor Location	Houston Texas

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash	$ 0	$ 4,013
Accounts receivable:
Oil, natural gas, and natural gas liquids revenues	161,531	50,575
Joint interest billings and other, net of allowance of $19 and $19 at December 31, 2022 and 2021, respectively	34,549	2,930
Derivative asset	31,331	1,348
Prepaid expenses and other current assets	18,854	2,549
Total current assets	246,265	61,415
Oil and gas properties, successful efforts method:
Proved properties	3,987,901	1,625,367
Unproved properties	282,589	222,025
Land	5,482	5,382
Total oil and gas properties	4,275,972	1,852,774
Accumulated depreciation, depletion and amortization	(619,196)	(395,625)
Net oil and gas properties	3,656,776	1,457,149
Other noncurrent assets:
Office and other equipment, net of accumulated depreciation of $5,273 and $4,547 at December 31, 2022 and 2021, respectively	5,394	1,986
Derivative asset	9,117	157
Operating lease right-of-use assets	4,569	1,795
Other noncurrent assets	15,280	33,865
TOTAL ASSETS	3,937,401	1,556,367
Current liabilities:
Accounts payable	91,815	31,397
Revenues and royalties payable	163,368	36,189
Accrued expenses	80,942	31,704
Asset retirement obligation	948	395
Derivative liability	14,053	45,310
Advances	7,312	4,088
Operating lease liability	842	681
Finance lease liability	802	0
Other current liabilities	16,202	851
Total current liabilities	376,284	150,615
Noncurrent liabilities:
Long-term debt	1,053,879	320,000
Asset retirement obligation	29,611	15,471
Derivative liability	0	571
Deferred tax liability	138,336	15,731
Operating lease liability	3,889	1,276
Finance lease liability	876	0
Other noncurrent liabilities	10,509	6,442
Total noncurrent liabilities	1,237,100	359,491
Commitments and Contingencies (Note 15)
Equity:
Preferred stock	0	0
Additional paid-in capital	1,346,463	718,181
Retained Earnings (accumulated deficit)	292,711	(159,774)
Total Earthstone Energy, Inc. equity	1,639,314	558,494
Noncontrolling interest	684,703	487,767
Total equity	2,324,017	1,046,261
TOTAL LIABILITIES AND EQUITY	3,937,401	1,556,367
Series A Convertible Preferred Stock
Equity:
Preferred stock	0	0
Class A Common Stock
Equity:
Common stock	106	53
Class B Common Stock
Equity:
Common stock	$ 34	$ 34

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Joint interest billings and other, allowance	$ 19	$ 19
Office and other equipment, accumulated depreciation	$ 5,273	$ 4,547
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
Common stock, shares outstanding (in shares)	139,800,000
Series A Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	0	0
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)	105,547,139	53,467,307
Common stock, shares outstanding (in shares)	105,547,139	53,467,307
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)	34,259,641	34,344,532
Common stock, shares outstanding (in shares)	34,259,641	34,344,532

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUES
Total revenues	$ 1,695,154	$ 419,643	$ 144,523
OPERATING COSTS AND EXPENSES
Lease operating expense	230,515	49,321	29,131
Production and ad valorem taxes	123,054	26,409	9,411
Rig idle and termination expense	0	0	426
Impairment expense	0	0	64,498
Depreciation, depletion and amortization	301,813	106,367	96,414
General and administrative expense	74,175	41,922	28,233
Transaction costs	8,248	4,875	622
Accretion of asset retirement obligation	2,652	1,065	307
Exploration expense	2,492	341	298
Total operating costs and expenses	742,949	230,300	229,340
Gain on sale of oil and gas properties, net	13,900	738	204
Income (loss) from operations	966,105	190,081	(84,613)
OTHER INCOME (EXPENSE)
Interest expense, net	(66,821)	(10,796)	(5,232)
(Loss) gain on derivative contracts, net	(125,107)	(116,761)	59,899
Other income, net	856	841	400
Total other (expense) income	(191,072)	(126,716)	55,067
Income (loss) before income taxes	775,033	63,365	(29,546)
Income tax (expense) benefit	(124,416)	(1,859)	112
Net income (loss)	650,617	61,506	(29,434)
Less:  Net income (loss) attributable to noncontrolling interest	198,132	26,022	(15,887)
Net income (loss) attributable to Earthstone Energy, Inc.	$ 452,485	$ 35,484	$ (13,547)
Net income (loss) per common share attributable to Earthstone Energy, Inc.:
Basic (in dollars per share)	$ 5.12	$ 0.75	$ (0.45)
Diluted (in dollars per share)	$ 4.83	$ 0.71	$ (0.45)
Weighted average common shares outstanding:
Basic (in shares)	88,349,088	47,169,948	29,911,625
Diluted (in shares)	96,328,217	49,952,093	29,911,625
Oil
REVENUES
Total revenues	$ 1,114,343	$ 297,177	$ 120,355
Natural gas
REVENUES
Total revenues	303,846	50,809	8,567
Natural gas liquids
REVENUES
Total revenues	$ 276,965	$ 71,657	$ 15,601

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Tracker Acquisition	Foreland Acquisition	Chisholm Acquisition	Bighorn Acquisition	IRM Acquisition	Titus Acquisition	Earthstone Energy, Inc. Equity	Earthstone Energy, Inc. Equity Tracker Acquisition	Earthstone Energy, Inc. Equity Foreland Acquisition	Earthstone Energy, Inc. Equity Chisholm Acquisition	Earthstone Energy, Inc. Equity Bighorn Acquisition	Earthstone Energy, Inc. Equity IRM Acquisition	Earthstone Energy, Inc. Equity Titus Acquisition	Additional Paid-in Capital	Additional Paid-in Capital Tracker Acquisition	Additional Paid-in Capital Foreland Acquisition	Additional Paid-in Capital Chisholm Acquisition	Additional Paid-in Capital Bighorn Acquisition	Additional Paid-in Capital IRM Acquisition	Additional Paid-in Capital Titus Acquisition	Accumulated Deficit	Noncontrolling Interest	Series A Convertible Preferred Stock Preferred Stock	Class A Common Stock	Class A Common Stock Common Stock	Class A Common Stock Common Stock Tracker Acquisition	Class A Common Stock Common Stock Foreland Acquisition	Class A Common Stock Common Stock Chisholm Acquisition	Class A Common Stock Common Stock Bighorn Acquisition	Class A Common Stock Common Stock IRM Acquisition	Class A Common Stock Common Stock Titus Acquisition	Class B Common Stock	Class B Common Stock Common Stock
Beginning balance (in shares) at Dec. 31, 2019																								0		29,421,131								35,260,680
Beginning balance at Dec. 31, 2019	$ 835,751							$ 345,599							$ 527,246							$ (181,711)	$ 490,152	$ 0		$ 29								$ 35
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	10,054							10,054							10,054
Conversion of preferred stock (in shares)																																	251,309
Shares issued in connection with Acquisition (in shares)																									0
Vesting of restricted stock units, net of taxes paid (in shares)																										670,981
Vesting of restricted stock units, net of taxes paid	0														(1)											$ 1
Shares retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)																										243,924
Shares retained by the Company in exchange for payment of recipient mandatory tax withholdings	(835)							(835)							(835)
Cancellation of treasury shares (in shares)																										(243,924)
Class B Common Stock converted to Class A Common Stock (in shares)																										251,309								(251,309)
Class B Common Stock converted to Class A Common Stock	0							3,610							3,610								(3,610)
Net income (loss)	(29,434)							(13,547)														(13,547)	(15,887)
Ending balance (in shares) at Dec. 31, 2020																								0		30,343,421								35,009,371
Ending balance at Dec. 31, 2020	815,536							344,881							540,074							(195,258)	470,655	$ 0		$ 30								$ 35
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	9,132							9,132							9,132
Conversion of preferred stock (in shares)																																	664,839
Modification of performance units	(2,276)							(2,276)							(2,276)
Shares issued in connection with Acquisition (in shares)																											6,200,000	2,611,111			12,719,594
Shares issued in connection with Acquisition		$ 61,814	$ 28,121			$ 76,572			$ 61,814	$ 28,121			$ 76,572			$ 61,808	$ 28,119			$ 76,559							$ 6	$ 2			$ 13
Vesting of restricted stock units, net of taxes paid (in shares)																										928,342
Vesting of restricted stock units, net of taxes paid	0														(1)											$ 1
Shares retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)																										453,483
Shares retained by the Company in exchange for payment of recipient mandatory tax withholdings	(4,144)							(4,144)							(4,144)
Cancellation of treasury shares (in shares)																										(453,483)
Class B Common Stock converted to Class A Common Stock (in shares)																										664,839								(664,839)
Class B Common Stock converted to Class A Common Stock	0							8,910							8,910								(8,910)			$ 1								$ (1)
Net income (loss)	61,506							35,484														35,484	26,022
Ending balance (in shares) at Dec. 31, 2021																								0		53,467,307								34,344,532
Ending balance at Dec. 31, 2021	1,046,261							558,494							718,181							(159,774)	487,767	$ 0		$ 53								$ 34
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	16,733							16,733							16,733
Purchase of treasury shares (in shares)																										(3,000,000)
Purchase of treasury shares	(43,937)							(43,937)							(43,934)											$ (3)
Preferred stock issuance (in shares)																								280,000
Preferred stock issuance	279,326							279,326							279,326
Conversion of preferred stock (in shares)																								(280,000)	25,200,000	25,225,225							84,891
Conversion of preferred stock	0														(25)											$ 25
Shares issued in connection with Acquisition (in shares)																													19,417,476	5,650,977		3,857,015
Shares issued in connection with Acquisition				$ 249,514	$ 77,758		$ 53,574				$ 249,514	$ 77,758		$ 53,574				$ 249,495	$ 77,752		$ 53,570								$ 19	$ 6		$ 4
Vesting of restricted stock units, net of taxes paid (in shares)																										844,248
Vesting of restricted stock units, net of taxes paid	0														(2)											$ 2
Shares retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)																										429,547
Shares retained by the Company in exchange for payment of recipient mandatory tax withholdings	(5,829)							(5,829)							(5,829)
Cancellation of treasury shares (in shares)																										(429,547)
Class B Common Stock converted to Class A Common Stock (in shares)																										84,891								(84,891)
Class B Common Stock converted to Class A Common Stock	0							1,196							1,196								(1,196)
Net income (loss)	650,617							452,485														452,485	198,132
Ending balance (in shares) at Dec. 31, 2022																								0		105,547,139								34,259,641
Ending balance at Dec. 31, 2022	$ 2,324,017							$ 1,639,314							$ 1,346,463							$ 292,711	$ 684,703	$ 0		$ 106								$ 34

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 650,617	$ 61,506	$ (29,434)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Impairment of proved and unproved oil and gas properties	0	0	46,878
Depreciation, depletion and amortization	301,813	106,367	96,414
Accretion of asset retirement obligation	2,652	1,065	307
Impairment of goodwill	0	0	17,620
Gain on sale of oil and gas properties, net	(13,900)	(738)	(204)
Gain on sale of office and other equipment	(321)	(140)	0
Settlement of asset retirement obligations	(910)	(185)	(195)
Total loss (gain) on derivative contracts, net	125,107	116,761	(59,899)
Operating portion of net cash (paid) received in settlement of derivative contracts	(195,876)	(75,966)	56,044
Stock-based compensation	35,369	21,014	10,054
Deferred income taxes	122,605	1,859	(657)
Amortization of deferred financing costs	5,529	856	322
Changes in assets and liabilities:
(Increase) decrease in accounts receivable	(168,314)	(19,061)	11,914
(Increase) decrease in prepaid expenses and other current assets	(16,282)	58	(203)
Increase (decrease) in accounts payable and accrued expenses	68,726	9,293	481
Increase (decrease) in revenues and royalties payable	98,840	5,985	(8,323)
Increase (decrease) in advances	3,224	2,200	(9,617)
Net cash provided by operating activities	1,018,879	230,874	131,502
Cash flows from investing activities:
Acquisition of oil and gas properties (net of cash acquired)	(1,523,813)	(311,324)	0
Additions to oil and gas properties	(491,836)	(114,521)	(88,097)
Additions to office and other equipment	(2,133)	(1,365)	(114)
Proceeds from sale of oil and gas properties	49,546	975	414
Net cash used in investing activities	(1,968,236)	(426,235)	(87,797)
Cash flows from financing activities:
Proceeds from borrowings under Credit Agreement	3,096,013	744,132	136,056
Repayments of borrowings under Credit Agreement	(3,145,877)	(539,132)	(191,056)
Proceeds from issuance of 8% Senior Notes due 2027, net	537,256	0	0
Proceeds from term loan	244,191	0	0
Proceeds from issuance Series A Convertible Preferred Stock, net of offering costs of $674	279,326	0	0
Cash paid to repurchase Class A Common Stock	(43,937)	0	0
Cash paid related to the exchange and cancellation of Class A Common Stock	(5,829)	(4,144)	(836)
Cash paid for finance leases	(649)	(70)	(130)
Deferred financing costs	(15,150)	(2,906)	(67)
Net cash provided by (used in) financing activities	945,344	197,880	(56,033)
Net increase (decrease) in cash	(4,013)	2,519	(12,328)
Cash at beginning of period	4,013	1,494	13,822
Cash at end of period	$ 0	$ 4,013	$ 1,494

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands		12 Months Ended
	Apr. 14, 2022	Dec. 31, 2022	Apr. 12, 2022
Offering cost	$ 500	$ 674
8.000% Senior Notes Due 2027 | Senior Notes
Interest rate, stated percentage		8%	8%

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation 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 up-stream 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. (“Lynden US”), collectively own a 75.5% interest in EEH. The Company consolidates the financial results of EEH and presents a noncontrolling interest in the Consolidated Financial Statements representing the economic interests of EEH’s members other than Earthstone and Lynden US. Each of the outstanding shares of Class A common stock, $0.001 par value per share of Earthstone (the “Class A Common Stock”), has a corresponding unit of limited liability company interests denominated as a common unit in EEH (an “EEH Unit”). Each of the outstanding shares of Class B common stock, $0.001 par value per share of Earthstone (the “Class B Common Stock”), has a corresponding EEH Unit and collectively represent the noncontrolling interests in the Consolidated Financial Statements. At any time, at the holder’s discretion, a holder of an EEH Unit may receive a share of Class A Common Stock in exchange for an EEH Unit and a corresponding share of Class B Common Stock, resulting in the immediate cancellation of both the EEH Unit and share of Class B Common Stock exchanged. As of December 31, 2022, outstanding common shares of Earthstone, along with the equal number of corresponding outstanding EEH Units, were approximately 139.8 million, consisting of 105.5 million shares of Class A Common Stock and 34.3 million shares of Class B Common Stock.

Noncontrolling Interest

Noncontrolling Interest	12 Months Ended
	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest Noncontrolling Interest represents EEH Units held by members of EEH other than Earthstone and Lynden US and is presented as a component of equity in the Consolidated Balance Sheets as of December 31, 2022 and 2021, as well as an adjustment to Net income in the Consolidated Statements of Operations for the years ended December 31, 2022 and 2021. Pursuant to governing EEH agreements, the noncontrolling members have no direct participation in the operations of EEH. Earthstone consolidates the financial results of EEH and its subsidiaries, and presents a noncontrolling interest for the economic interest in Earthstone held by members of EEH other than Earthstone and Lynden US, and represented by outstanding shares of Class B Common Stock. Net income attributable to noncontrolling interest in the Consolidated Statements of Operations for the year ended December 31, 2022 represents the portion of net income attributable to the economic interest in the Company held by members of EEH other than Earthstone and Lynden US. The noncontrolling interest in the Consolidated Balance Sheet as of December 31, 2022 represents the portion of net assets of the Company attributable to members of EEH other than Earthstone and Lynden US. The following table presents the changes in noncontrolling interest for the year ended December 31, 2022: EEH Units Held By Earthstone and Lynden US % EEH Units Held By Others % Total EEH Units Outstanding As of December 31, 2021 53,467,307 60.9 % 34,344,532 39.1 % 87,811,839 EEH Units issued in connection with the Chisholm Acquisition 19,417,476 — 19,417,476 EEH Units issued in connection with the Bighorn Acquisition 5,650,977 — 5,650,977 EEH Units issued in connection with the Conversion of Preferred Stock 25,225,225 — 25,225,225 EEH Units issued in connection with the Titus Acquisition 3,857,015 — 3,857,015 EEH Units and shares of Class B Common Stock exchanged for shares of Class A Common Stock 84,891 (84,891) — EEH Units issued in connection with the vesting of restricted stock units 844,248 — 844,248 EEH Units cancelled in connection with the share repurchase (3,000,000) — (3,000,000) As of December 31, 2022 105,547,139 75.5 % 34,259,641 24.5 % 139,806,780

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation The Consolidated Financial Statements include the accounts and balances of the Company and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany accounts and transactions, including revenues and expenses, are eliminated in consolidation. Use of Estimates The preparation of the Company’s Consolidated Financial Statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the respective reporting periods then ended. Estimated quantities of crude oil, natural gas and natural gas liquids reserves are the most significant of the Company’s estimates. All reserve data used in the preparation of the Consolidated Financial Statements, as well as included in Note 20. Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) , are based on estimates. Reservoir engineering is a subjective process of estimating underground accumulations of crude oil, natural gas and natural gas liquids. There are numerous uncertainties inherent in estimating quantities of proved crude oil, natural gas and natural gas liquids reserves. The accuracy of any reserve estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. As a result, reserve estimates may be different from the quantities of crude oil, natural gas and natural gas liquids that are ultimately recovered. Other items subject to estimates and assumptions include, but are not limited to, the carrying amounts of property, plant and equipment, asset retirement obligations, valuation allowances for deferred income tax assets, valuation of derivative instruments and valuation of certain performance-based restricted stock unit awards. Management evaluates estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic and commodity price environment. The volatility of commodity prices results in increased uncertainty inherent in such estimates and assumptions. See Note 20. Supplemental Information On Oil and Gas Exploration and Production Activities (Unaudited) . Although management believes these estimates are reasonable, actual results may differ from estimates and assumptions of future events and these revisions could be material. Future production may vary materially from estimated oil and natural gas proved reserves. Actual future prices may vary significantly from price assumptions used for determining proved reserves and for financial reporting. Accounts Receivable Accounts receivable include estimated amounts due from crude oil, natural gas, and natural gas liquids purchasers, other operators for which the Company holds an interest, and from non-operating working interest owners. Accrued crude oil, natural gas, and natural gas liquids sales from purchasers and operators consist of accrued revenues due under normal trade terms, generally requiring payment within 60 days of production. For receivables from joint interest owners, the Company typically has the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. An allowance for doubtful accounts is established based on reviews of individual customer accounts, recent loss experience, current economic conditions, and other pertinent factors. Accounts deemed uncollectible are charged to the allowance. Provisions for bad debts and recoveries on accounts previously charged off are added to the allowance. The Company routinely assesses the recoverability of all material trade receivables and other receivables to determine their collectability. Allowance for uncollectible accounts receivable was $0.02 million and $0.02 million at December 31, 2022 and 2021, respectively. Derivative Instruments The Company utilizes derivative instruments in order to manage exposure to risks associated with fluctuating commodity prices and interest rates. The Company recognizes all derivatives as either assets or liabilities, measured at fair value, and recognizes changes in the fair value of derivatives in current earnings. The Company has elected to not designate any of its positions under the hedge accounting rules. Accordingly, these derivative contracts are mark-to-market and any changes in the estimated values of derivative contracts held at the balance sheet date are recognized in (Loss) gain on derivative contracts, net in the Consolidated Statements of Operations as unrealized gains or losses on derivative contracts. Realized gains or losses on derivative contracts are also recognized in (Loss) gain on derivative contracts, net in the Consolidated Statements of Operations. Oil and Natural Gas Properties The method of accounting for oil and natural gas properties determines what costs are capitalized and how these costs are ultimately matched with revenues and expenses. The Company uses the successful efforts method of accounting for oil and natural gas properties. For more information see Note 8. Oil and Natural Gas Properties . Office and Other Equipment Office and other equipment primarily includes leasehold improvements, vehicles, computer equipment and software, office furniture and fixtures and field equipment. These items are recorded at cost, or fair value if acquired, and are depreciated using the straight-line method based on expected lives of the individual assets or group of assets ranging from two years to 10 years. The Company had office and other equipment of $5.4 million and $2.0 million, net of accumulated depreciation and amortization of $5.3 million and $4.5 million, at December 31, 2022 and 2021, respectively. During the years ended December 31, 2022, 2021 and 2020, the Company recognized depreciation expense of $1.3 million, $0.7 million and $0.5 million, respectively. See separate finance lease disclosures in Note 18. Leases . Noncontrolling Interest Noncontrolling Interest represents third-party equity ownership of EEH and is presented as a component of equity in the Consolidated Balance Sheets as of December 31, 2022 and 2021, as well as an adjustment to Net income in the Consolidated Statements of Operations for the years ended December 31, 2022 and 2021. As of December 31, 2022, Earthstone and Lynden US owned a 75.5% membership interest in EEH while Bold Energy Holdings, LLC (“Bold Holdings”), the noncontrolling third-party, or its permitted transferees, owned the remaining 24.5%. See further discussion in Note 2. Noncontrolling Interest . Segment Reporting Operating segments are components of an enterprise that (i) engage in activities from which it may earn revenues and incur expenses (ii) for which separate operational financial information is available and is regularly evaluated by the chief operating decision maker for the purpose of allocating resources and assessing performance. Based on the Company’s organization and management, it has only one reportable operating segment, which is oil and natural gas exploration and production. Comprehensive Income The Company has no elements of comprehensive income other than net income. Asset Retirement Obligations Asset retirement obligations associated with the retirement of long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the asset, including the asset retirement cost, is depreciated over the useful life of the asset. Asset retirement obligations are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at the Company’s credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liabilities are accreted to their expected settlement value. If estimated future costs of asset retirement obligations change, an adjustment is recorded to both the asset retirement obligations and the long-lived asset. Revisions to estimated asset retirement obligations can result from changes in retirement cost estimates, revisions to estimated inflation rates, and changes in the estimated timing of abandonment. For further discussion, see Note 13. Asset Retirement Obligations . Business Combinations The Company accounts for its acquisitions of oil and gas properties not commonly controlled in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, which, among other things, requires the Company to determine if an asset or a business has been acquired. If the Company determines an asset(s) has been acquired, the asset(s) acquired, as well as any liabilities assumed, are measured and recorded at the acquisition date cost. If the Company determines a business has been acquired, the assets acquired and liabilities assumed are measured and recorded at their fair values as of the acquisition date, recording goodwill for amounts paid in excess of fair value. Revenue Recognition The Company’s revenues are comprised solely of revenues from customers and include the sale of oil, natural gas and natural gas liquids. The Company believes that the disaggregation of revenue into these three major product types, as presented in the Consolidated Statements of Operations, appropriately depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors based on its single geographic region. Revenues are recognized when the recognition criteria of ASC 606 “Revenue from Contracts with Customers,” (“ASC 606”) are met, which generally occurs at a point in time when production is sold to a purchaser at a determinable price, delivery has occurred, control has transferred and collection of the revenue is probable. The Company fulfills its performance obligations under its customer contracts through delivery of oil, natural gas and natural gas liquids and revenues are recorded on a monthly basis and the Company receives payment from one to three months after delivery. Generally, each unit of product represents a separate performance obligation. The prices received for oil, natural gas and natural gas liquids sales under the Company’s contracts are generally derived from stated market prices which are then adjusted to reflect deductions including transportation, fractionation and processing. As a result, revenues from the sale of oil, natural gas and natural gas liquids will decrease if market prices decline. The sales of oil, natural gas and natural gas liquids, as presented on the Consolidated Statements of Operations, represent the Company’s share of revenues net of royalties and excluding revenue interests owned by others. When selling oil, natural gas and natural gas liquids on behalf of royalty or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the expected sales volumes and prices for those properties are estimated and recorded. Variances between the Company’s estimated revenue and actual payment are recorded in the month the payment is received. Historically, however, differences have been insignificant. At the end of each month when the performance obligation is satisfied, the variable consideration can be reasonably estimated and amounts due from customers are recorded in “Accounts receivable: oil, natural gas, and natural gas liquids revenues” in the Consolidated Balance Sheets. As of December 31, 2022 and 2021, amounts receivable from contracts with customers were $161.5 million and $50.6 million, respectively. Taxes assessed by governmental authorities on oil, natural gas and natural gas liquid sales are presented separately from such revenues in the Consolidated Statements of Operations. Oil Sales Oil production is transported from the wellhead to tank batteries or delivery points through flow-lines or gathering systems. Purchasers of the oil take delivery at (i) the tank batteries and transport the oil by truck, or (ii) at a pipeline delivery point and the Company collects a market price, net of pricing differentials. Revenue is recognized when control transfers to the purchaser at the net price received by the Company. Starting in October 2019, certain of the Company’s oil sales activity involves buy/sell arrangements that effect a change in location with required repurchase of oil at a delivery point. Because the Company acts as the agent in these transactions, the buy/sell activity is recorded on a net basis and the residual transportation fee is included in Lease operating expenses in the Consolidated Statements of Operations. Natural Gas and Natural Gas Liquid Sales Under the Company’s natural gas sales arrangements, the purchaser takes control of wet gas at a delivery point near the wellhead or at the inlet of the purchaser’s processing facility. The purchaser gathers and processes the wet gas and remits proceeds to the Company for the resulting natural gas and natural gas liquid sales. Based on the nature of these arrangements, the Company is the agent and the purchaser is the Company’s customer, thus, the Company recognizes natural gas and natural gas liquid sales based on the net amount of proceeds received from the purchaser. Imbalances The Company recognizes revenue for all oil, natural gas and natural gas liquid sold to purchasers regardless of whether the sales are proportionate to the Company’s ownership interest in the property. Production imbalances are recognized as a liability to the extent an imbalance on a specific property exceeds the Company’s share of remaining proved oil, natural gas liquid and natural gas reserves. The Company is also subject to natural gas pipeline imbalances, which are recorded as accounts receivable or payable at values consistent with contractual arrangements with the owner of the pipeline. The Company had no imbalances as of December 31, 2022 or 2021. Contract Balances Under the Company’s product sales contracts, the Company invoices customers once performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s product sales contracts do not give rise to contract assets or liabilities under ASC 606. Transaction Price Allocated to Remaining Performance Obligations Substantially all of the Company’s product sales are short-term in nature, with a contract term of one year or less. For these contracts, the Company has utilized the practical expedient in ASC 606 which exempts the Company from the requirements to disclose the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For the Company’s product sales that have a contract term greater than one year, the Company has utilized the practical expedient in ASC 606 which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these contracts, each unit of product generally represents a separate performance obligation; therefore, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. Prior-Period Performance Obligations The Company records revenue in the month that product is delivered to the purchaser. Settlement statements for certain natural gas and natural gas liquids sales, however, may not be received for 30 to 90 days after the date the product is delivered, and as a result the Company is required to estimate the amount of product delivered to the purchaser and the price that will be received for the sale of the product. In these situations, the Company records the differences between its estimates and the actual amounts received for product sales in the month that payment is received from the purchaser. Any identified differences between the Company’s revenue estimates and actual revenue received have historically been insignificant. For the years ended December 31, 2022 and 2021, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods was not material. Concentration of Credit Risk Credit risk represents the actual or perceived financial loss that the Company would record if its purchasers, operators, or counterparties failed to perform pursuant to contractual terms. The purchasers of the Company’s oil, natural gas, and natural gas liquids production consist primarily of independent marketers, major oil and natural gas companies and natural gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts. In the year ended December 31, 2022, three purchasers accounted for 21%, 20% and 14%, respectively, of the Company’s oil, natural gas, and natural gas liquids revenues. In the year ended December 31, 2021, two purchasers accounted for 34% and 13%, respectively, of the Company’s oil, natural gas, and natural gas liquids revenues. In the year ended December 31, 2020, three purchasers accounted for 32%, 15% and 12%, respectively, of the Company’s oil, natural gas, and natural gas liquids revenues. No other purchaser accounted for 10% or more of the Company’s oil, natural gas, and natural gas liquids revenues during the years ended December 31, 2022, 2021 or 2020. Additionally, at December 31, 2022, four purchasers accounted for 21%, 19% , 18% and 14%, respectively, of the Company’s oil, natural gas and natural gas liquids receivables. At December 31, 2021, three purchasers accounted for 26%, 21% and 12%, respectively, of the Company’s oil, natural gas, and natural gas liquids receivables. No other purchaser accounted for 10% or more of the Company’s oil, natural gas, and natural gas liquids receivables at December 31, 2022 and 2021. The Company holds working interests in oil and natural gas properties for which a third-party serves as operator. The operator sells the oil, natural gas, and natural gas liquids to the purchaser, collects the cash, and distributes the cash to the Company. In the year ended December 31, 2022, one operator distributed 8% of the Company’s oil, natural gas and natural gas liquids revenues. In the year ended December 31, 2021 one operator distributed 13% of the Company’s oil, natural gas and natural gas liquids revenues. In the year ended December 31, 2020, one operator distributed 15% of the Company’s oil, natural gas and natural gas liquids revenues. The derivative instruments of the Company are with a small number of counterparties and, from time-to-time, may represent material assets in the Consolidated Balance Sheets. It is our policy to enter into derivative contracts only with counterparties that are creditworthy financial institutions deemed by management as competent and competitive. At December 31, 2022, the Company had a net derivative asset position of $26.4 million. At December 31, 2021, the Company had a net derivative liability position of $44.4 million. The Company regularly maintains its cash in bank deposit accounts. Balances held by the Company at its banks typically exceed Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and, as a result, there is a concentration of credit risk related to the amounts of deposit in excess of FDIC insurance coverage. Stock-Based Compensation The Company recognized stock-based compensation expense associated with restricted stock units, which include both time- and performance-based awards. The Company accounts for forfeitures of equity-based incentive awards as they occur. Stock-based compensation expense related to time-based restricted stock units is based on the price of the Class A Common Stock on the grant date and recognized over the vesting period using the straight-line method. The Company classifies grants to be settled in shares as equity awards and awards to be settled in cash a liability awards. The Company accounts for these awards based on a grant date Monte Carlo Simulation pricing model, which calculates multiple potential outcomes for an award and establishes fair value based on the most likely outcome, and is recognized over the vesting period using the straight-line method. The fair value of the liability awards is updated on a quarterly basis. See Note 11. Stock-Based Compensation for further details. Income Taxes The Company is a U.S. company operating in Texas and New Mexico, as of December 31, 2022, and includes one foreign legal entity, Lynden Corp, which is a Canadian company. Consequently, the Company’s tax provision is based upon the tax laws and rates in effect in the applicable jurisdiction in which its operations are conducted and income is earned. The income tax rates imposed and methods of computing taxable income in these jurisdictions vary. Therefore, as a part of the process of preparing the Consolidated Financial Statements, the Company is required to estimate the income taxes in each of these jurisdictions. This process involves estimating the actual current tax exposure together with assessing temporary differences resulting from differing treatment of items, such as depreciation, amortization and certain accrued liabilities for tax and accounting purposes. The Company’s effective tax rate for financial statement purposes will continue to fluctuate from year to year as its operations are conducted in different taxing jurisdictions. The Company records an income tax provision consistent with its status as a corporation. The Company’s corporate structure requires the filing of two separate consolidated U.S. Federal income tax returns and one Canadian income tax return resulting from Earthstone’s acquisition of Lynden Corp in May 2016 (the “Lynden Arrangement”) that includes 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 noncontrolling interest, as well as any standalone income or loss generated by each company. 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. The Company’s deferred tax expense or benefit represents the change in the balance of deferred tax assets or liabilities reported in the Consolidated Balance Sheets. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2022 and 2021, the Company has recorded a valuation allowance for its deferred tax assets in the Consolidated Balance Sheets. The Company applies the accounting standards related to uncertainty in income taxes. This accounting guidance clarifies the accounting for uncertainties in income taxes by prescribing a minimum recognition threshold that a tax position is required to meet before being recognized in the Consolidated Financial Statements. It requires that the Company recognize in the Consolidated Financial Statements the financial effects of a tax position, if that position is more likely than not of being sustained upon examination, including resolution of any appeals or litigation processes, based upon the technical merits of the position. It also provides guidance on measurement, classification, interest, penalties and disclosure. The Company’s tax positions related to its pass-through status and state income tax liability, including deductibility of expenses, have been reviewed by the Company’s management and they believe those positions would more likely than not be sustained upon examination. Accordingly, the Company has not recorded an income tax liability for uncertain tax positions at December 31, 2022 or 2021. Recently Issued Accounting Standards Reference Rate Reform - In March 2020, the FASB issued an update that provides optional guidance for a limited period of time to ease the transition from LIBOR to an alternative reference rate. The ASU intends to address certain concerns relating to

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures The initial accounting for acquisitions and divestitures may not be complete and adjustments to provisional amounts, or recognition of additional assets acquired or liabilities assumed, may occur as additional information is obtained about the facts and circumstances that existed as of the acquisition dates. Titus Acquisition On June 27, 2022, Earthstone and EEH, as buyer, and Titus Oil & Gas Production, LLC, a Delaware limited liability company, Titus Oil & Gas Corporation, a Delaware corporation, Lenox Minerals, LLC, a Delaware limited liability company and Lenox Mineral Title Holdings, Inc., a Delaware corporation (collectively, “Titus I”), as seller, entered into a purchase and sale agreement (the “Titus I Purchase Agreement”) which provided that EEH or its designated wholly-owned subsidiary would acquire (the “Titus I Acquisition”) interests in oil and gas leases and related property of Titus I located in the Northern Delaware Basin of New Mexico (the “Titus I Assets”). Also on June 27, 2022, Earthstone and EEH, as buyer, and Titus Oil & Gas Production II, LLC, a Delaware limited liability company, Lenox Minerals II, LLC, a Delaware limited liability company and Lenox Mineral Holdings II, Inc., a Delaware limited liability company (collectively, “Titus II” and together with Titus I, “Titus”), as seller, entered into a purchase and sale agreement (the “Titus II Purchase Agreement” and together with the Titus I Purchase Agreement, the “Titus Purchase Agreements”) which provided that EEH or its designated wholly-owned subsidiary would acquire (the “Titus II Acquisition” and together with the Titus I Acquisition, the “Titus Acquisition”) interests in oil and gas leases and related property of Titus II located in the Northern Delaware Basin of New Mexico (the “Titus II Assets” and together with the Titus I Assets, the “Titus Assets”). On August 10, 2022, the transactions contemplated in the Titus Purchase Agreements were consummated whereby EEH acquired the Titus Assets for aggregate consideration of approximately $567.7 million in cash, net of customary purchase price adjustments, and 3,857,015 shares of Class A Common Stock. The Titus Acquisition was accounted for as an asset acquisition. The fair value of the consideration paid by us and allocation of that amount to the underlying assets acquired, on a relative fair value basis, was recorded on our books as of the date of the closing of the Titus Acquisition. Additionally, costs directly related to the Titus Acquisition were capitalized as a component of the purchase price. The consideration transferred, fair value of assets acquired and liabilities assumed by the Company were recorded as follows (in thousands, except share amounts and stock price): Consideration: Shares of Class A Common Stock issued 3,857,015 Class A Common Stock price as of August 10, 2022 $ 13.89 Class A Common Stock consideration 53,574 Cash consideration 566,532 Direct transaction costs (1) 1,144 Total consideration transferred $ 621,250 Fair value of assets acquired: Oil and gas properties $ 625,017 Amount attributable to assets acquired $ 625,017 Fair value of liabilities assumed: Current liabilities $ 2,853 Noncurrent liabilities - ARO 914 Amount attributable to liabilities assumed $ 3,767 (1) Represents $1.1 million of transaction costs associated with the Titus Acquisition which have been capitalized in accordance with ASC 805-50. Bighorn Acquisition On January 30, 2022, Earthstone, EEH, as buyer, and Bighorn Asset Company, LLC, a Delaware limited liability company (“Bighorn”), as seller, entered into a purchase and sale agreement (the “Bighorn Agreement”). Pursuant to the Bighorn Agreement, EEH acquired (the “Bighorn Acquisition”) interests in oil and gas leases and related property of Bighorn located in the Midland Basin, Texas (the “Bighorn Assets”). On April 14, 2022, Earthstone, EEH and Bighorn consummated the transactions contemplated in the Bighorn Agreement whereby EEH acquired the Bighorn Assets for aggregate consideration of approximately $628.2 million in cash, net of customary purchase price adjustments, and 5,650,977 shares of Class A Common Stock. The Bighorn Acquisition was accounted for as an asset acquisition. The fair value of the consideration paid by us and allocation of that amount to the underlying assets acquired, on a relative fair value basis, was recorded on our books as of the date of the closing of the Bighorn Acquisition. Additionally, costs directly related to the Bighorn Acquisition were capitalized as a component of the purchase price. The consideration transferred, fair value of assets acquired and liabilities assumed by the Company were recorded as follows (in thousands, except share amounts and stock price): Consideration: Shares of Class A Common Stock issued 5,650,977 Class A Common Stock price as of April 14, 2022 $ 13.76 Class A Common Stock consideration $ 77,757 Cash consideration 625,842 Direct transaction costs (1) 2,347 Total consideration transferred $ 705,946 Fair value of assets acquired: Current assets $ 769 Oil and gas properties 746,116 Amount attributable to assets acquired $ 746,885 Fair value of liabilities assumed: Suspense payable $ 25,710 Other current liabilities 2,035 Noncurrent liabilities - ARO 13,194 Amount attributable to liabilities assumed $ 40,939 (1) Represents $2.4 million of transaction costs associated with the Bighorn Acquisition which have been capitalized in accordance with ASC 805-50. Chisholm Acquisition As part of the execution of its growth strategy to further increase its scale, on December 15, 2021, Earthstone, EEH, as buyer, Chisholm Energy Operating, LLC (“OpCo”) and Chisholm Energy Agent, Inc. (“Agent” and collectively with OpCo, “Chisholm”), collectively as seller, entered into a Purchase and Sale Agreement (the “Chisholm Agreement”), which provided that EEH would acquire (the “Chisholm Acquisition”) interests in oil and gas leases and related property of Chisholm located in Lea County and Eddy County, New Mexico (the “Chisholm Assets”). On February 15, 2022, Earthstone, EEH and Chisholm consummated the transactions contemplated in the Chisholm Agreement whereby EEH acquired the Chisholm Assets for aggregate consideration consisting of: (i) approximately $314.0 million in cash, net of customary purchase price adjustments, paid at the closing of the Chisholm Acquisition, (ii) $70 million in cash paid on April 15, 2022 and (iii) 19,417,476 shares of Class A Common Stock. The fair value of each share of Class A Common Stock was determined using the closing sales price of $12.85 per share on February 15, 2022. A Significant Shareholder, as identified below, was the majority owner of Chisholm as of the closing of the Chisholm Acquisition. See Note 14. Related Party Transactions, for further discussion. The Chisholm Acquisition has been accounted for as a business combination using the acquisition method of accounting, with Earthstone identified as the acquirer. The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price): Consideration: Shares of Class A Common Stock issued 19,417,476 Class A Common Stock price as of February 15, 2022 $ 12.85 Class A Common Stock consideration $ 249,515 Cash consideration 383,976 Total consideration transferred $ 633,491 Fair value of assets acquired: Oil and gas properties $ 642,485 Amount attributable to assets acquired $ 642,485 Fair value of liabilities assumed: Other current liabilities $ 3,023 Asset retirement obligation - noncurrent 5,971 Amount attributable to liabilities assumed $ 8,994 IRM Acquisition As part of the execution of its growth strategy to further increase its scale, on January 7, 2021, the Company completed the acquisition (the “IRM Acquisition”) of all of the issued and outstanding limited liability company interests in Independence Resources Management, LLC (“IRM”) and certain wholly owned subsidiaries for consideration consisting of (i) net cash of approximately $140.5 million and (ii) 12,719,594 shares of Class A Common Stock. The fair value of each share of Class A Common Stock was determined using the closing price of $6.02 per share on January 7, 2021. The purchase agreement contained customary representations and warranties for transactions of this nature. The Company obtained representation and warranty insurance to provide coverage in the event of certain breaches of representations and warranties of the seller contained in the purchase agreement, which are subject to various exclusions, deductibles and other terms and conditions set forth therein. The IRM Acquisition was accounted for as a business combination using the acquisition method of accounting, with Earthstone identified as the acquirer. The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price): Consideration: Shares of Class A Common Stock issued 12,719,594 Class A Common Stock price as of January 7, 2021 $ 6.02 Class A Common Stock consideration $ 76,572 Cash consideration 140,507 Total consideration transferred $ 217,079 Fair value of assets acquired: Cash $ 4,763 Other current assets 11,524 Oil and gas properties 224,112 Other non-current assets 252 Amount attributable to assets acquired $ 240,651 Fair value of liabilities assumed: Derivative liability $ 10,177 Other current liabilities 5,196 Asset retirement obligation - noncurrent 8,199 Amount attributable to liabilities assumed $ 23,572 Tracker/Sequel Acquisitions On March 31, 2021, Earthstone, EEH, Tracker Resource Development III, LLC, a Delaware limited liability company (“Tracker Opco”), and TRD III Royalty Holdings (TX), LP, a Delaware limited partnership (“RoyaltyCo” and collectively with Tracker Opco, “Tracker”), entered into a purchase and sale agreement (the “Tracker Agreement”), which provided that EEH would acquire (the “Tracker Acquisition”) interests in oil and gas leases and related property of Tracker located in Irion County, Texas (the “Tracker Assets”). Also on March 31, 2021, Earthstone, EEH, SEG-TRD LLC, a Delaware limited liability company (“SEG-I”), and SEG-TRD II LLC, a Delaware limited liability company (“SEG-II” and collectively with SEG-I, “Sequel”) entered into a purchase and sale agreement (the “Sequel Agreement” and collectively with the Tracker Agreement, the “Tracker/Sequel Purchase Agreements”), which provided that EEH would acquire (the “Sequel Acquisition” and collectively with the Tracker Acquisition, the “Tracker/Sequel Acquisitions”) certain well-bore interests and related equipment (the “Sequel Assets”). On July 20, 2021, Earthstone, EEH and Tracker consummated the transactions contemplated in the Tracker Agreement. At the closing of the Tracker Agreement, among other things, EEH acquired the Tracker Assets for aggregate consideration consisting of: (i) $18.8 million in cash, net of customary purchase price adjustments, and (ii) 4.7 million shares of Class A Common Stock. Also, on July 20, 2021, Earthstone, EEH and Sequel consummated the transactions contemplated in the Sequel Agreement. At the closing of the Sequel Agreement, among other things, EEH acquired the Sequel Assets for aggregate consideration consisting of: (i) $41.4 million in cash, net of customary purchase price adjustments, and (ii) 1.5 million shares of Class A Common Stock. The Significant Shareholder, as described in the Note referenced below, owned approximately 49% of Tracker as of the closing of the Tracker Acquisition. See Note 14. Related Party Transactions, for further discussion. In accordance with ASC Topic 805, Business Combinations (referred to as “ASC 805”), the Tracker/Sequel Acquisitions have been accounted for as asset acquisitions. The consideration transferred, fair value of assets acquired and liabilities assumed by Earthstone were recorded as follows (in thousands, except share amounts and stock price): Total Consideration: Shares of Earthstone Class A Common Stock issued 6,200,000 Earthstone Class A Common Stock price as of July 20, 2021 $ 9.97 Class A Common Stock consideration $ 61,814 Cash consideration (1) 60,159 Direct transaction costs (2) 1,715 Total consideration transferred $ 123,688 Fair value of assets acquired: Oil and gas properties $ 124,288 Amount attributable to assets acquired $ 124,288 Fair value of liabilities assumed: Noncurrent liabilities - ARO $ 600 Amount attributable to liabilities assumed $ 600 (1) Includes customary purchase price adjustments. (2) Represents $1.7 million of transaction costs associated with the Tracker Acquisition and the Sequel Acquisition that have been capitalized in accordance with ASC 805-50. The following unaudited supplemental pro forma condensed results of operations present consolidated information as though the Chisholm Acquisition and IRM Acquisition had been completed as of January 1, 2021. The unaudited supplemental pro forma financial information was derived from the historical consolidated and combined statements of operations for Chisholm, IRM and Earthstone and adjusted to include depletion expense applied to the adjusted basis of the properties acquired. These unaudited supplemental pro forma results of operations are provided for illustrative purposes only and do not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that may be achieved by the Company in the future. Future results may vary significantly from the results reflected in this unaudited pro forma financial information (in thousands, except per share amounts): Years Ended December 31, 2022 2021 Revenue $ 1,731,159 $ 637,803 Income (loss) before taxes $ 795,447 $ (63,479) Net income (loss) $ 671,031 $ (65,339) Less: Net income (loss) attributable to noncontrolling interest $ 204,349 $ (27,644) Net income (loss) attributable to Earthstone Energy, Inc. $ 466,682 $ (37,695) Pro forma net income (loss) per common share attributable to Earthstone Energy, Inc.: Basic $ 5.14 $ (0.56) Diluted $ 4.85 $ (0.54) The Company has included in its Consolidated Statements of Operations, revenues of $300.0 million and operating expenses of $131.5 million for the period from February 15, 2022 to December 31, 2022 related to the Chisholm Acquisition. During the year ended December 31, 2022, the Company recorded $10.7 million of legal and professional fees related to the Chisholm Acquisition which are included in Transaction costs in the Consolidated Statements of Operations. The fair value measurements of assets acquired and liabilities assumed are based on inputs that are not observable in the market and therefore represent Level 3 inputs. The fair value of oil and gas properties and asset retirement obligations were measured using the discounted cash flow technique of valuation. Significant inputs to the valuation of oil and gas properties include estimates of: (i) reserves, (ii) future operating and development costs, (iii) future commodity prices, (iv) future plugging and abandonment costs, (v) estimated future cash flows, and (vi) a market-based weighted average cost of capital rate. These inputs require significant judgments and estimates and are the most sensitive and subject to change. Eagle Ford Acquisitions In May and June 2021, the Company completed acquisitions of working interests in certain assets it operates located in southern Gonzales County, Texas (collectively, the “Eagle Ford Acquisitions”) from four separate sellers. The aggregate purchase price of the Eagle Ford Acquisitions was approximately $45.2 million. One of the four separate sellers was a related party. See Note 14. Related Party Transactions for further discussion. The Eagle Ford Acquisitions have been accounted for as asset acquisitions in accordance with ASC 805. The preliminary allocation of each purchase was based upon management’s estimates of and assumptions related to the relative fair value of assets acquired and liabilities assumed. Foreland-BCC Acquisition On November 2, 2021, Earthstone, EEH and Foreland Investments LP, a Delaware limited partnership (“Foreland”), consummated the transactions contemplated in the Purchase and Sale Agreement dated as of September 30, 2021 by and among Earthstone, EEH and Foreland (the “Foreland Purchase Agreement”). At the closing of the Foreland Purchase Agreement, EEH acquired (the “Foreland Acquisition”) interests in oil and gas leases and related property of Foreland located in Irion County and Crockett County, Texas, for a purchase price consisting of: (i) $13.4 million in cash, net of customary purchase price adjustments, and (ii) 2,611,111 shares of Class A Common Stock. Also, on November 2, 2021, Earthstone, EEH and BCC-Foreland LLC, a Delaware limited liability company (“BCC”), consummated the transactions contemplated in the Purchase and Sale Agreement dated as of September 30, 2021 by and among Earthstone, EEH and BCC (the “BCC Purchase Agreement”). At the closing of the BCC Purchase Agreement, EEH acquired (the “BCC Acquisition” and with the Foreland Acquisition, the “Foreland-BCC Acquisition”) certain well-bore interests and related equipment held by BCC that were part of a joint development agreement between Foreland, Foreland Operating, LLC, and BCC involving portions of the acreage covered by the Foreland Purchase Agreement for a purchase price of $20.5 million in cash, net of customary purchase price adjustments. Divestitures During the year ended December 31, 2022, the Company sold certain non-core properties for approximately $49.5 million in cash, resulting in net gains of approximately $13.9 million recorded in Gain on sale of oil and gas properties, net in the Consolidated Statements of Operations. There were no material divestitures during the years ended December 31, 2021 or 2020.

Transaction Costs

Transaction Costs	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Transaction Costs	Transaction Costs During the year ended December 31, 2022, the Company recorded transaction costs of $8.2 million primarily due to legal, consulting and other fees related to the Chisholm Acquisition and certain divestiture transactions. During the year ended December 31, 2021, the Company recorded transaction costs primarily due to legal, consulting and other fees of approximately $4.0 million related to the IRM Acquisition, $1.8 million related to the Chisholm Acquisition and $0.3 million related to other potential transactions, offset by net reimbursements of $1.2 million related to the business combination (the “Bold Transaction”) pursuant to the Bold Contribution Agreement (as defined below) which closed on May 9, 2017. During the year ended December 31, 2020, the Company recorded transaction costs primarily due to legal, consulting and other fees of approximately $1.0 million related to the IRM Acquisition noted above and $0.3 million related to other potential transactions, offset by net reimbursements of $0.7 million related to the Bold Transaction.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
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 Topic 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 Topic 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 year ended December 31, 2022. Fair Value on a Recurring Basis Derivative Financial Instruments Derivative financial instruments are carried at fair value and measured on a recurring basis. The derivative financial instruments consist of fixed price swaps, basis swaps, costless collars and deferred premium put options for crude oil and natural gas and interest rate swaps. The Company’s commodity price hedges and interest rate swaps are valued based on discounted future cash flow models that are primarily based on published forward commodity price curves and published LIBOR forward curves; thus, these inputs are designated as Level 2 within the valuation hierarchy. The fair values of derivative instruments in asset positions include measures of counterparty nonperformance risk, and the fair values of derivative instruments in liability positions include measures of the Company’s nonperformance risk. These measurements were not material to the Consolidated Financial Statements. Share-based Compensation Liability Certain of our performance-based stock awards (“PSUs”) may be payable in cash. The Company classifies the awards that may be settled in cash as liability awards. These awards are valued quarterly 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. The inputs for the Monte Carlo model are designated as Level 2 within the valuation hierarchy. The share-based compensation liability related to the PSU liability awards is included in Accrued expenses and Other noncurrent liabilities in the Consolidated Balance Sheet as of December 31, 2022. The following table summarizes the fair value of the Company’s financial assets and liabilities, by level within the fair-value hierarchy (in thousands) : December 31, 2022 Level 1 Level 2 Level 3 Total Financial assets Derivative asset- current $ — $ 31,331 $ — $ 31,331 Derivative asset- noncurrent — 9,117 — 9,117 Total financial assets $ — $ 40,448 $ — $ 40,448 Financial liabilities Derivative liability - current $ — $ 14,053 $ — $ 14,053 Share-based compensation liability - current — 14,411 — 14,411 Share-based compensation liability - noncurrent — 10,357 — 10,357 Total financial liabilities $ — $ 38,821 $ — $ 38,821 December 31, 2021 Financial assets Derivative asset- current $ — $ 1,348 $ — $ 1,348 Derivative asset- noncurrent — 157 — 157 Total financial assets $ — $ 1,505 $ — $ 1,505 Financial liabilities Derivative liability - current $ — $ 45,310 $ — $ 45,310 Derivative liability - noncurrent — 571 — 571 Share-based compensation liability - current — 7,835 — 7,835 Share-based compensation liability - noncurrent — 6,324 — 6,324 Total financial liabilities $ — $ 60,040 $ — $ 60,040 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 and asset retirement obligations. These assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments if events or changes in certain circumstances indicate that adjustments may be necessary. Due to significant declines in commodity prices and global demand for oil and natural gas products resulting from the COVID-19 pandemic, the Company assessed the fair values of its oil and natural gas properties and goodwill resulting in non-cash impairment charges during the three months ended March 31, 2020. Since then, commodity prices have recovered and no other such triggering events that require further assessment were observed during the years ended December 31, 2022 and 2021. Items Not Recorded at Fair Value The carrying amounts reported on the unaudited consolidated balance sheets for cash, accounts receivable, prepaid expenses, other current assets accounts payable, revenues and royalties payable, accrued expenses and other current liabilities approximate their fair values.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Commodity Derivative Instruments The Company’s hedging activities primarily 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, costless collars and deferred premium put options. Swaps exchange floating price risk in the future for a fixed price at the time of the hedge. Costless collars set both a maximum (sold ceiling) and a minimum (bought floor) future price. A deferred premium put option represents a bought floor except, unlike a standard put option, the premium is not paid until the expiration of the option. Consistent with its hedging policy, the Company has entered into a series of derivative instruments to hedge a portion of its expected oil and natural gas production through December 31, 2024. 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 does not enter into derivative instruments for trading or other speculative purposes. 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 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 Consolidated Balance Sheets and 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 following table sets forth the Company’s outstanding derivative contracts at December 31, 2022. When aggregating multiple contracts, the weighted average contract price is disclosed. Period Commodity Volume Price 2023 Crude Oil Swap 1,642,500 $76.94 2023 Crude Oil Basis Swap (1) 9,488,500 $0.92 2023 Natural Gas Swap 3,670,000 $3.52 2023 Natural Gas Basis Swap (2) 51,100,000 $(1.67) 2024 Natural Gas Basis Swap (2) 36,600,000 $(1.05) (1) The basis differential price is between WTI Midland Argus Crude and the WTI NYMEX. (2) The basis differential price is between W. Texas (WAHA) and the Henry Hub NYMEX. Costless Collars Period Commodity Volume Bought Floor Sold Ceiling 2023 Crude Oil Costless Collar 2,080,500 $63.33 $82.83 2023 Natural Gas Costless Collar 22,188,000 $3.82 $7.44 Deferred Premium Puts Period Commodity Volume $/Bbl (Put Price) $/Bbl (Net of Premium) 2023 Crude Oil 1,931,500 $ 69.53 $ 64.12 Interest Rate Swaps At times, the Company’s hedging activities include the use of interest rate swaps entered into in order to manage cash flow variability resulting from changes in interest rates. These derivative instruments are not accounted for under hedge accounting. In December 2021, the Company unwound its interest rate swap contracts, receiving a one-time settlement payment of $1.1 million. The Company had no interest rate swaps in place as of December 31, 2022 or 2021. The following table summarizes the location and fair value amounts of all derivative instruments in the Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Consolidated Balance Sheets (in thousands) : December 31, 2022 December 31, 2021 Derivatives not Balance Sheet Location Gross Gross Net Gross Gross Net Commodity contracts Derivative asset - current $ 51,803 $ (20,472) $ 31,331 $ 3,191 $ (1,843) $ 1,348 Commodity contracts Derivative liability - current $ 34,525 $ (20,472) $ 14,053 $ 47,153 $ (1,843) $ 45,310 Commodity contracts Derivative asset - noncurrent $ 9,117 $ — $ 9,117 $ 2,721 $ (2,564) $ 157 Commodity contracts Derivative liability - noncurrent $ — $ — $ — $ 3,135 $ (2,564) $ 571 The follow table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivatives instruments in the Company’s Consolidated Statements of Operations and Consolidated Statements of Cash Flows (in thousands) : Derivatives not designated as hedging contracts under ASC Topic 815 Years Ended December 31, Statement of Cash Flows Location Statement of Operations Location 2022 2021 2020 Unrealized gain (loss) Not presented separately Not presented separately $ 70,769 $ (40,795) $ 3,855 Realized (loss) gain Operating portion of net cash received in settlement of derivative contracts Not presented separately (195,876) (75,966) 56,044 Total loss (gain) on derivative contracts, net (Loss) gain on derivative contracts, net $ (125,107) $ (116,761) $ 59,899

Oil and Natural Gas Properties

Oil and Natural Gas Properties	12 Months Ended
	Dec. 31, 2022
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 operating income in the 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. Depletion expense for oil and natural gas producing property and related equipment was $300.5 million, $105.7 million and $95.9 million for the years ended December 31, 2022, 2021 and 2020, respectively. Proved Oil and Natural Gas 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 natural 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 Oil and Natural Gas Properties Unproved properties consist of costs incurred to acquire undeveloped leases as well as the cost to acquire unproved reserves. Undeveloped lease costs and unproved reserve acquisition costs are capitalized. Unproved oil and natural gas leases are generally for a primary term of three 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 The Company recorded no non-cash asset impairment charges for the years ended December 31, 2022 or 2021. During the year ended December 31, 2020, primarily as a result of the decline in crude oil price futures, the Company recorded non-cash impairment charges of $25.3 million to its proved oil and natural gas properties and $13.2 million to its unproved oil and natural gas properties, located in the Eagle Ford Trend. As a result of certain acreage expirations, the Company recorded non-cash impairment charges of $8.4 million to its unproved oil and natural gas properties during the year ended December 31, 2020. Accumulated impairments to proved and unproved oil and natural gas properties as of December 31, 2022 and 2021 were $168.0 million and $168.0 million, respectively.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common ShareNet income (loss) per common share—basic is calculated by dividing Net income (loss) by the weighted average number of shares of common stock outstanding during the period. Net income (loss) per common share—diluted assumes the conversion of all potentially dilutive securities and is calculated by dividing Net income (loss) by the sum of the weighted average number of shares of common stock, as defined above, outstanding plus potentially dilutive securities. Net income (loss) 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 (loss) per common share is as follows: Years Ended December 31, (In thousands, except per share amounts) 2022 2021 2020 Net income (loss) attributable to Earthstone Energy, Inc. $ 452,485 $ 35,484 $ (13,547) Net income (loss) attributable to Earthstone Energy, Inc. from assumed conversion of Series A Convertible Preferred Stock (1) 12,388 — — Net income (loss) attributable to Earthstone Energy, Inc. - Diluted $ 464,873 $ 35,484 $ (13,547) Net income (loss) per common share attributable to Earthstone Energy, Inc.: Basic $ 5.12 $ 0.75 $ (0.45) Diluted $ 4.83 $ 0.71 $ (0.45) Weighted average common shares outstanding Basic 88,349,088 47,169,948 29,911,625 Add potentially dilutive securities: Unvested restricted stock units 416,031 539,803 — Unvested performance units 1,757,841 2,242,342 — Series A Convertible Preferred Stock (1) 5,805,257 — — Diluted weighted average common shares outstanding 96,328,217 49,952,093 29,911,625 (1) On April 14, 2022, Earthstone issued 280,000 shares of Series A Convertible Preferred Stock which automatically converted into 25,225,225 shares of Class A Common Stock on July 6, 2022. Under the “If-Converted” method, the shares would have been assumed issued on April 14, 2022, which would have resulted in an additional allocation of Net income (loss) attributable to Earthstone Energy, Inc. of $12.4 million for the year ended December 31, 2022. The Class B Common Stock has been excluded, as its conversion would eliminate noncontrolling interest and Net income attributable to noncontrolling interest of $198.1 million for the year ended December 31, 2022, Net loss attributable to noncontrolling interest of $26.0 million for the year ended December 31, 2021, and Net income attributable to noncontrolling interest of $15.9 million for the year ended December 31, 2020 would be added back to Net income (loss) attributable to Earthstone Energy, Inc. for the years then ended, having no dilutive effect on Net income (loss) per common share attributable to Earthstone Energy, Inc. For the year ended December 31, 2020, the Company excluded 1.1 million and 1.9 million shares, respectively, for the dilutive effect of restricted stock units and performance units in calculating diluted earnings per share as the effect was anti-dilutive due to the net loss incurred for the period.

Common Stock and Preferred Stoc

Common Stock and Preferred Stock	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Common Stock and Preferred Stock	Common Stock and Preferred Stock Class A Common Stock At December 31, 2022 and 2021, there were 105,547,139 and 53,467,307 shares of Class A Common Stock issued and outstanding, respectively. During the year ended December 31, 2022, Earthstone issued a total of approximately 28.9 million shares of Class A Common Stock in connection with the Chisholm Acquisition, Bighorn Acquisition and the Titus Acquisition, as well as approximately 25.2 million shares of Class A Common Stock upon conversion of the Series A Convertible Preferred Stock described below. During the year ended December 31, 2021, Earthstone issued a total of approximately 21.5 million shares of Class A Common Stock in connection with the IRM Acquisition, Tracker/Sequel Acquisitions and the Foreland Acquisition. No shares were issued in connection with acquisitions during 2020. During the years ended December 31, 2022, 2021 and 2020, as a result of the vesting and settlement of restricted stock units under the Earthstone Amended and Restated 2014 Long-Term Incentive Plan, as amended (the “2014 Plan”), Earthstone issued 1,273,795, 1,381,825 and 914,905 shares of Class A Common Stock, respectively, of which 429,547, 453,483 and 243,924 shares of Class A Common Stock, respectively, were retained as treasury stock and cancelled to satisfy the related employee income tax liability. On October 11, 2022, Earthstone purchased and immediately cancelled 3,000,000 shares of Class A Common Stock from certain affiliates of Warburg Pincus LLC (“Warburg”) in a private transaction, for an aggregate purchase price of $43,740,000, or $14.58 per share. Class B Common Stock At December 31, 2022 and 2021, there were 34,259,641 and 34,344,532 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. During the years ended December 31, 2022, 2021 and 2020, 84,891, 664,839 and 251,309 shares, respectively, of Class B Common Stock and EEH Units were exchanged for an equal number of shares of Class A Common Stock. Series A Convertible Preferred Stock On January 30, 2022, Earthstone entered into a securities purchase agreement (the “SPA”) with EnCap Energy Capital Fund XI, L.P. (“EnCap Fund XI”), an affiliate of EnCap Investments L.P. (“EnCap”), and Cypress Investments, LLC, a fund managed by Post Oak Energy Capital, LP (“Post Oak” and collectively with EnCap Fund XI, the “Investors”) to sell, in a private placement (the “Private Placement”), 280,000 shares of newly authorized convertible preferred stock, $0.001 par value per share (the “Series A Convertible Preferred Stock”), each share of which would be convertible into 90.0900900900901 shares of Class A Common Stock for anticipated gross proceeds of $280.0 million, at a price of $1,000.00 per share of Series A Convertible Preferred Stock (or $11.10 per share of Class A Common Stock on an as-converted basis). The Private Placement was contingent upon the closing of the Bighorn Acquisition. The Company used the net proceeds from the sale of the Series A Convertible Preferred Stock to partially fund the Bighorn Acquisition. See Note 14. Related Party Transactions for further discussion. On April 14, 2022, Earthstone, EnCap Fund XI and Cypress consummated the sale and issuance of 280,000 shares of Series A Convertible Preferred Stock pursuant to the SPA in exchange for cash proceeds of $279.3 million, net of offering costs. On July 6, 2022, the Series A Convertible Preferred Stock automatically converted into 25,225,225 shares of Class A Common Stock. As such, the Series A Convertible Preferred Stock is no longer outstanding and the Investors were issued the 25,225,225 shares of Class A Common Stock upon the conversion of the Series A Convertible Preferred Stock. On July 15, 2022, Earthstone filed a certificate of elimination with the Secretary of State of the State of Delaware eliminating all provisions of the certificate of designations previously filed by Earthstone with the Secretary of State of the State of Delaware on April 13, 2022 related to the Series A Convertible Preferred Stock.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
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 December 31, 2022, the maximum number of shares of Class A Common Stock that may be issued under the 2014 Plan was 12.0 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 term and is net of forfeitures, as incurred. Stock-based compensation is included in General and administrative expense in the Consolidated Statements of Operations and is recorded with a corresponding increase in Additional paid-in capital within the Consolidated Balance Sheets. The table below summarizes unvested RSU activity for the year ended December 31, 2022: Shares Weighted-Average Grant Date Fair Value Unvested RSUs at December 31, 2021 771,817 $ 5.91 Granted 780,765 $ 13.65 Forfeited (16,934) $ 8.17 Vested (665,670) $ 7.75 Unvested RSUs at December 31, 2022 869,978 $ 11.40 During the year ended December 31, 2022, Earthstone granted 727,765 RSUs to employees and 53,000 RSUs to certain members of the Board with vesting periods ranging from 12 to 36 months. The total grant date fair value of the RSUs granted during the years ended December 31, 2022, 2021 and 2020 were $10.7 million, $4.1 million and $4.4 million, respectively, with a weighted average grant date fair value per share of $13.65, $6.16 and 5.07, respectively. The total vesting date fair value of the RSUs that vested during 2022, 2021 and 2020 was $8.9 million, $8.8 million and $3.0 million, respectively. As of December 31, 2022, there was approximately $9.2 million of total unrecognized stock-based compensation expense related to unvested RSUs, which will be amortized over the remaining vesting periods. The weighted average remaining vesting period of the unrecognized compensation expense is 1.20 years. For the years ended December 31, 2022, 2021 and 2020, stock-based compensation related to RSUs was $6.0 million, $5.2 million and $5.4 million, respectively. Performance Units The table below summarizes performance unit (“PSU”) activity for the year ended December 31, 2022: Shares Weighted-Average Grant Date Fair Value Unvested PSUs at December 31, 2021 2,751,725 $ 8.42 Granted 472,485 $ 19.42 Vested (608,125) $ 9.30 Unvested PSUs at December 31, 2022 2,616,085 $ 10.21 The total grant date fair value of the PSUs granted during the years ended December 31, 2022, 2021 and 2020 were $9.2 million, $11.9 million and $5.6 million, respectively, with a weighted average grant date fair value per share of $19.42, $10.85 and $5.36, respectively. The total vesting date fair value of the PSUs that vested during 2022 and 2021 was $8.3 million and $3.5 million respectively. No PSUs vested during 2020. As of December 31, 2022, there was $16.1 million of unrecognized compensation expense related to the PSU awards which will be amortized over a weighted average period of 0.71 years. For the years ended December 31, 2022, 2021 and 2020, stock-based compensation related to the PSUs was approximately $29.4 million, $15.8 million and $4.6 million, respectively. The Company classifies awards that will be settled in cash as liability awards. PSU grants to be settled in shares are classified as equity awards. Corresponding liabilities of $14.4 million and $7.8 million related to the PSUs were included in Other current liabilities and Accrued expenses, respectively, in the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively. Additionally, corresponding liabilities of $10.4 million and $6.3 million related to the PSUs were included in Other noncurrent liabilities in the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively. On February 1, 2022, the Board granted 472,485 PSUs (the “2022 PSUs”) to certain officers pursuant to the 2014 Plan. The 2022 PSUs are payable in cash or shares of Class A Common Stock upon the achievement by Earthstone over a period commencing on January 1, 2022 and ending on December 31, 2024 (the “2022 Performance Period”) of certain performance criteria established by the Board. The Company classifies these awards that will be settled in cash as liability awards. PSU grants to be settled in shares are classified as equity awards. The 2022 PSUs are eligible to be earned based on the annualized Total Shareholder Return (“TSR”) of the Class A Common Stock during a three-year period beginning on January 1, 2022. Between 0x to 2.0x of the Performance Units are eligible to be earned based on Earthstone achieving an annualized TSR based on the following pre-established goals: Earthstone’s Annualized TSR TSR Multiplier 23.9% or greater 2.0 14.5% 1.0 8.4% 0.5 Less than 8.4% 0.0 In the event that greater than 1.0x of the 2022 PSUs are earned, such additional PSUs may be paid in cash rather than the issuance of shares of Class A Common Stock. 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 2022 PSUs, assuming a risk-free rate of 1.4% and volatility of 86.0%, the Company calculated the weighted average grant date fair value per PSU to be $19.42. 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 applicable 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 applicable performance period plus cash dividends paid over the applicable 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 applicable performance period. On January 27, 2021, the Board granted 1,099,800 PSUs (the “2021 PSUs”) to certain officers pursuant to the 2014 Plan (the “2021 Grant”). The 2021 PSUs are payable in cash or shares of Class A Common Stock upon the achievement by the Company over a period commencing on January 1, 2021 and ending on December 31, 2023 of certain performance criteria established by the Board. The Company classifies these awards that will be settled in cash as liability awards. PSU grants to be settled in shares are classified as equity awards. The 2021 PSUs are eligible to be earned based on the annualized TSR of the Class A Common Stock during a three-year period beginning on February 1, 2021. Between 0x to 2.0x of the Performance Units are eligible to be earned based on Earthstone achieving an annualized TSR based on the following pre-established goals: Earthstone’s Annualized TSR TSR Multiplier 20.5% or greater 2.0 14.5% 1.0 7.7% 0.5 Less than 7.7% 0.0 In the event that greater than 1.0x of the 2021 PSUs are earned, such additional PSUs may be paid in cash rather than the issuance of shares of Class A Common Stock. The Company accounts for these awards as market-based awards which are valued quarterly 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 2021 PSUs, assuming a risk-free rate of 0.3% and volatility of 86.0%, the Company calculated the weighted average grant date fair value per PSU to be $10.85. On January 30, 2020, the Board granted 1,043,800 PSUs (the “2020 PSUs”) to certain officers pursuant to the 2014 Plan (the “2020 Grant”). The 2020 PSUs are payable in shares of Class A Common Stock based upon the achievement by the Company over a period commencing on February 1, 2020 and ending on January 31, 2023 of certain performance criteria established by the Board. The 2020 PSUs are eligible to be earned based on the annualized TSR of the Class A Common Stock during a three-year period beginning on February 1, 2020. Between 0x to 2.0x of the Performance Units are eligible to be earned based on Earthstone achieving an annualized TSR based on the following pre-established goals: Earthstone’s Annualized TSR TSR Multiplier 23.9% or greater 2.0 14.5% 1.0 8.4% 0.5 Less than 8.4% 0.0 In the event that greater than 1.0x of the 2020 PSUs are earned, such additional PSUs may be paid in cash rather than the issuance of shares of Class A Common Stock, solely at the discretion of the Board. 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 2020 PSUs, assuming a risk-free rate of 1.4% and volatility of 62.0%, the Company calculated the weighted average grant date fair value per PSU to be $5.36. On January 28, 2019, the Board granted 669,550 PSUs (the “2019 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 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 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 three-year period beginning on February 1, 2019. 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. The 2019 PSUs were settled on February 9, 2022 resulting in the issuance of 608,125 shares of Class A Common Stock and cash payments totaling $8.1 million. Modification of Performance Units All outstanding PSUs may be paid in either cash or the issuance of shares of Class A Common Stock or any combination of the two therein, at the discretion of the Board. In January 2023, the Board, at its discretion, consented to settlement of the 2020 Grant in shares of Class A Common Stock up to 100% and the remaining 100% in cash. In consideration of the settlement of the 2020 Grant, which was consistent with the 2019 Grant, the Company deemed it appropriate to modify the remaining performance-based grants (the “Modification”). Based on the Modification, the Company calculated the fair value of the cash settled portion of each award representing an estimated accumulative increase to the liability of $9.9 million as of December 31, 2022, consisting of $17.1 million in additional stock-based compensation during the year ended December 31, 2022, partially offset by $7.2 million of stock-based compensation previously recognized in Additional Paid-in Capital. During the years ended December 31, 2022 and 2021, the Company recorded gross expense related to stock-based compensation of approximately $35.4 million (net of $4.1 million of income tax benefit) and $21.0 million (net of $2.8 million of income tax benefit), respectively.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company's long-term debt consisted of the following ( in thousands ): December 31, 2022 December 31, 2021 Revolving credit facility (1) $ 270,136 $ 320,000 Term loan under credit facility due 2027 250,000 — 8.000% Senior notes due 2027 550,000 — $ 1,070,136 $ 320,000 Unamortized debt issuance costs on term loan (5,309) — Unamortized debt issuance costs on 8.000% Senior notes (10,948) — Long-term debt, net $ 1,053,879 $ 320,000 (1) Related to the revolving credit facility borrowings, the Company had debt issuance costs of $15.3 million and $6.7 million, net of accumulated amortization of $6.5 million and $3.3 million, as of December 31, 2022 and 2021, respectively. Unamortized deferred financing costs on the revolving credit facility borrowings are included in Other noncurrent assets in the Consolidated Balance Sheets. Credit Agreement On November 21, 2019, Earthstone, EEH (the “Borrower”), Wells Fargo Bank, National Association, as Administrative Agent and Issuing Bank (“Wells Fargo”), BOKF, NA dba Bank of Texas, as Issuing Bank with respect to Existing Letters of Credit, Royal Bank of Canada, as Syndication Agent, Truist Bank, as successor by merger to SunTrust Bank, as Documentation Agent, and the Lenders party thereto (collectively, the “Parties”) entered into a credit agreement (the “Credit Agreement”), which replaced the prior credit facility, which was terminated on November 21, 2019. On January 30, 2022, Earthstone, EEH, as Borrower, Wells Fargo as Administrative Agent, the lenders party thereto (the “Lenders”) and the guarantors party thereto entered into an amended and restated Fifth Amendment (the “Fifth Amendment”) to the Credit Agreement. Among other things, the Fifth Amendment increased the borrowing base and corresponding elected commitments from $650 million to $825 million upon the closing of the Chisholm Agreement. On April 14, 2022, in connection with the closing of the Bighorn Acquisition, the Notes Offering and pursuant to the Fifth Amendment, amongst other things, the borrowing base increased to $1,325 million and elected commitments were reduced to $800 million compared to the maximum of $1,325 million provided for in the Fifth Amendment in the event that the Bighorn Acquisition had closed prior to the Notes Offering. On June 2, 2022, the Company, EEH, Wells Fargo, the Lenders and the guarantors party thereto entered into an amendment (the “Sixth Amendment”) to the Credit Agreement. Among other things, the Sixth Amendment extended the maturity of the Credit Agreement to June 2027, increased the borrowing base from $1.325 billion to $1.4 billion and reduced the interest rate for amounts outstanding. Elected commitments under the Credit Agreement remained at $800 million. On August 10, 2022, Earthstone, EEH, Wells Fargo as Administrative Agent, the Lenders and the guarantors party thereto entered into an amendment (the “Seventh Amendment”) to the Credit Agreement. Among other things, the Seventh Amendment increased the borrowing base from $1.4 billion to $1.7 billion and increased elected commitments from $800 million to $1.2 billion. The Seventh Amendment also established a fully funded $250 million term loan tranche as a portion of the $1.2 billion of available commitments under the Credit Agreement (the “Term Loan”), with the remaining $950 million of commitments in the form of revolving commitments. The Term Loan is fully pre-payable without premium or penalty, subject to the satisfaction of certain specified conditions, and bears an interest rate of Term SOFR (as defined in the Credit Agreement) plus 3.25%, increasing by 0.25% each 180-day period following the Term Loan funding. The Term Loan is co-terminus with the revolving loans' maturity date of June 2, 2027, subject to a potential acceleration of the maturity date to as soon as January 14, 2027 (the “Springing Maturity Date”, as defined in the Credit Agreement) applicable to revolving loans and term loans. The interest rate applicable to revolving loans remains a rate of Term SOFR plus an applicable margin between 2.25% and 3.25%, depending upon borrowing base utilization. On September 29, 2022, in connection with a regularly scheduled borrowing base redetermination, the borrowing base increased from $1.7 billion to $1.85 billion. The next regularly scheduled redetermination of the borrowing base is expected to occur on or around May 1, 2023. Subsequent redeterminations are expected to occur on or about each November 1st and May 1st thereafter. The amounts borrowed under the Credit Agreement bear annual interest rates at either (a) the adjusted SOFR Rate (as customarily defined) (the “Adjusted Term SOFR Rate”) plus 2.25% to 3.25% or (b) the sum of (i) the greatest of (A) the prime rate of Wells Fargo, (B) the federal funds rate plus ½ of 1.0%, and (C) the Adjusted Term SOFR Rate for an interest rate period of one month plus 1.0%, (ii) plus 1.25% to 2.25%, depending on the amount borrowed under the Credit Agreement. Principal amounts outstanding under the Credit Agreement are due and payable in full at maturity on June 2, 2027. All of the obligations under the Credit Agreement, and the guarantees of those obligations, are secured by substantially all of EEH’s assets. Additional payments due under the Credit Agreement include paying a commitment fee of 0.375% to 0.50% per year, depending on the amount borrowed under the Credit Agreement, to the Lenders in respect of the unutilized commitments thereunder. EEH is also required to pay customary letter of credit fees. The 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, pay dividends and 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 Credit Agreement requires EEH to maintain the following financial covenants: a current ratio, (as such term is defined in the Credit Agreement) of not less than 1.0 to 1.0 and a consolidated leverage ratio of not greater than 3.5 to 1.0. Consolidated 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 to (ii) EBITDAX for the applicable period, which was calculated as EBITDAX for the four consecutive fiscal quarters ending on such date. The term “EBITDAX” means, for any period, the sum of consolidated net income (loss) for such period plus (a) the following expenses or charges to the extent deducted from consolidated net income (loss) in such period: (i) interest, (ii) taxes, (iii) depreciation, (iv) depletion, (v) amortization, (vi) certain distributions to employees related to the stock compensation, (vii) certain transaction related expenses, (viii) reimbursed indemnification expenses related to certain dispositions and investments, (ix) non-cash extraordinary, usual, or nonrecurring expenses or losses, (x) other non-cash charges and minus (b) to the extent included in consolidated net income (loss) in such period: (i) non-cash income, (ii) gains on asset dispositions, disposals and abandonments outside of the ordinary course of business and (iii) to the extent not otherwise deducted from consolidated net income (loss), the aggregate amount of any pass-through cash distributions received by Borrower during such period in an amount equal to the aggregate amount of pass-through cash distributions actually made by Borrower during such period. The 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 a change in control. 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 December 31, 2022, EEH was in compliance with the covenants under the Credit Agreement. As of December 31, 2022, $270.1 million and $250.0 million of borrowings were outstanding under the revolving tranche and the term loan tranche of the Credit Agreement, respectively, bearing annual interest of 7.238% and 7.670%, respectively, resulting in an additional $679.9 million of borrowing availability under the Credit Agreement. At December 31, 2021, there were $320.0 million of borrowings outstanding under the Credit Agreement. For the year ended December 31, 2022, the Company had borrowings of $3.1 billion and $3.1 billion in repayments of borrowings. For the year ended December 31, 2022, interest on the revolving tranche of the Credit Agreement averaged 4.74% per annum, which excluded commitment fees of $1.7 million and amortization of deferred financing costs of $3.2 million. For the year ended December 31, 2022, interest on the term loan tranche of the Credit Agreement averaged 6.67% per annum, which excluded amortization of deferred financing costs of $0.5 million. For the years ended December 31, 2021 and 2020, interest on borrowings under the Credit Agreement averaged 3.40% and 2.83% per annum, respectively, which excluded commitment fees of $0.9 million and $0.6 million for each period ended, respectively, and amortization of deferred financing costs of $0.9 million and $0.3 million for each period ended, respectively. During the year ended December 31, 2022, the Company capitalized $6.5 million and $5.8 million of costs associated with the revolving tranche and term loan tranche of the Credit Agreement, respectively. The Company capitalized $2.8 million costs associated with the Credit Agreement for the year ended December 31, 2021. No costs associated with the Credit Agreement were capitalized during the year ended December 31, 2020. 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, which approximates the effective interest method over the term of the related debt. 8.000% Senior Notes On April 12, 2022, EEH issued $550.0 million aggregate principal amount of unsecured 8.000% senior notes due 2027 (the “Notes”) for net proceeds of approximately $537.2 million (after deducting underwriting discounts and commissions) (the “Notes Offering”) which was used primarily to fund the Bighorn Acquisition and the remainder for general corporate purposes. On April 12, 2022, in connection with the completion of the Notes Offering, EEH entered into an indenture, dated as of April 12, 2022 (the “Indenture”), among EEH, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee. The Notes will mature on April 15, 2027 with interest accruing at a rate of 8.000% per annum payable semi-annually in cash in arrears on April 15 and October 15 of each year, which commenced on October 15, 2022. Before April 15, 2024, EEH may redeem some or all of the Notes at a redemption price equal to 100% of the aggregate principal amount of the Notes redeemed plus the “applicable premium” as of and accrued and unpaid interest, if any. EEH may redeem, at its option, all or part of the Notes at any time on or after April 15, 2024, at the applicable redemption price plus accrued and unpaid interest to, but not including, the date of redemption. Further, before April 15, 2024, EEH may on one or more occasions redeem up to 35% of the aggregate principal amount of the Notes in an amount not exceeding the net proceeds from one or more private or public equity offerings at a redemption price of 108.000% of the principal amount of the Notes, plus accrued and unpaid interest to the date of redemption, if at least 65% of the aggregate principal amount of the Notes remains outstanding immediately after such redemption and the redemption occurs within 180 days of the closing date of each such equity offering. Upon a Change of Control (as defined in the Indenture) EEH must offer to repurchase the Notes on terms and conditions set forth in detail in the Indenture. The Notes are guaranteed on a senior unsecured basis by the Company and its subsidiaries (the “Guarantors”) and may be guaranteed by certain of EEH’s future restricted subsidiaries. The Notes are unsecured, rank equally in right of payment with all existing and future senior unsecured indebtedness of EEH and the Guarantors and rank senior in right of payment to any future subordinated indebtedness of EEH and the Guarantors. The Notes will rank effectively junior to all secured indebtedness of EEH and the Guarantors, including indebtedness under the Credit Agreement, to the extent of the value of the assets securing such indebtedness. The Notes will rank structurally junior in right of payment to all indebtedness and other liabilities, including trade payables, of any future subsidiary of EEH that are not guarantors. The Indenture restricts EEH’s ability and the ability of its Restricted Subsidiaries (as defined in the Indenture), including the Guarantors, to: (i) incur or guarantee additional indebtedness or issue certain types of preferred stock; (ii) pay dividends on capital stock or redeem, repurchase or retire its capital stock or subordinated indebtedness; (iii) transfer or sell assets; (iv) make investments; (v) create certain liens; (vi) enter into agreements that restrict dividends or other payments from its Restricted Subsidiaries to EEH; (vii) consolidate, merge or transfer all or substantially all of its assets; (viii) engage in transactions with affiliates; and (ix) create unrestricted subsidiaries. These covenants are subject to important exceptions and qualifications set forth in the Indenture. If the Notes achieve an Investment Grade Rating (as defined in the Indenture) or better from two of three of Moody’s Investors Service, Inc., S&P Global Ratings, or Fitch Ratings, Inc., many of these covenants will be suspended. The Indenture contains customary events of default (each an “Event of Default”). If an Event of Default occurs and is continuing, the Trustee or the holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the unpaid principal of, premium, if any, and accrued but unpaid interest on, all the Notes then outstanding to be due and payable. Upon such a declaration, such principal, premium, if any, and interest will be due and payable immediately. If an Event of Default relating to certain events of bankruptcy or insolvency of EEH or any Significant Subsidiary (as defined in the Indenture) occurs, the principal of, premium, if any, and the interest on, all the Notes will become immediately due and payable without any declaration or other act on the part of the Trustee or any holders of the Notes. Under certain circumstances, the holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. During the year ended December 31, 2022, the Company capitalized $12.7 million of costs associated with the Notes. No costs associated with the Notes were capitalized during the years ended December 31, 2021 and 2020. The Company’s policy is to capitalize the debt issuance costs associated with the Notes and amortize those costs on a straight-line basis over the term of the Notes. As of December 31, 2022, accrued interest of $9.5 million associated with the Notes was included in Accrued expenses in the Consolidated Balance Sheets.

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2022
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 natural 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 years ended December 31, 2022 and 2021 (in thousands) : 2022 2021 Beginning asset retirement obligations $ 15,866 $ 3,027 Associated with acquisitions 20,078 9,821 Liabilities incurred 533 163 Property dispositions (10,284) (41) Liabilities settled (910) (185) Accretion expense 2,652 1,065 Revision of estimates 2,625 2,016 Ending asset retirement obligations $ 30,560 $ 15,866

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
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. The Audit Committee of the Board independently reviews and approves all related party transactions. Earthstone has three significant shareholders that consist of various investment funds managed by each of the three private equity firms who may manage other investments in entities with which the Company interacts in the normal course of business (the “Significant Shareholders” or separately, each a “Significant Shareholder”). On February 12, 2020, the Company sold certain of its interests in oil and natural gas leases and wells in a transaction to a portfolio company of a Significant Shareholder (not under common control) for cash consideration of approximately $0.4 million. As discussed in Note 4. Acquisitions and Divestitures , on March 31, 2021, the Company entered into the Tracker/Sequel Purchase Agreements. The Tracker/Sequel Acquisitions were consummated on July 20, 2021, whereby the Company acquired the Tracker Assets for a purchase price of $18.8 million in cash and 4.7 million shares of Class A Common Stock. A Significant Shareholder owned approximately 49% of Tracker as of the closing of the Tracker Acquisition. A majority of the stockholders of Earthstone not affiliated with the Significant Shareholder approved the issuance of 6.2 million shares of Class A Common Stock in connection with the closing of the Tracker/Sequel Purchase Agreements at Earthstone’s Annual Meeting of Stockholders held on July 20, 2021. As discussed in Note 4. Acquisitions and Divestitures , during the second quarter of 2021, the Company completed the Eagle Ford Acquisitions for a purchase price of approximately $45.2 million in cash. A Significant Shareholder controlled one of the four sellers. After participating in a competitive sales process, the Company acquired the aforementioned assets for $8.2 million in cash from that related party entity. As discussed in Note 4. Acquisitions and Divestitures, t he Chisholm Acquisition was consummated on February 15, 2022, whereby the Company acquired the Chisholm Assets for a purchase price of $377.5 million in cash, net of customary purchase price adjustments, and approximately 19.4 million shares of Class A Common Stock. A Significant Shareholder was the majority owner of Chisholm as of the closing of the Chisholm Acquisition. The deferred payment of $70 million as of March 31, 2022 was paid on April 15, 2022 and included in Deferred acquisition payment – Chisholm in the Condensed Consolidated Balance Sheet as of March 31, 2022. The issuance of approximately 19.4 million shares of Class A Common Stock in connection with the closing of the Chisholm Agreement was (1) approved by a majority of the voting power of all outstanding disinterested shares of the Common Stock and (2) increased the Significant Stockholder's beneficial ownership of Class A Common Stock from approximately 25% to 36% as of February 15, 2022. On January 30, 2022, Earthstone entered into the SPA with certain affiliates of EnCap and Post Oak (collectively, the “Investors”) to issue 220,000 shares and 60,000 shares, respectively, of the Series A Convertible Preferred Stock. On April 14, 2022, the SPA was consummated resulting in the issuance of the total of 280,000 shares of the Series A Convertible Preferred Stock in exchange for cash proceeds of $279.3 million, net of offering costs. On July 6, 2022, the Series A Convertible Preferred Stock automatically converted into 25,225,225 shares of Class A Common Stock. The Company paid $0.5 million to one of its Significant Shareholders for reimbursement of certain costs associated with the Bighorn Acquisition and related SPA. On October 11, 2022, Earthstone repurchased an aggregate of 3,000,000 shares of Class A Common Stock, held by affiliates of Warburg in a private transaction, for an aggregate purchase price of approximately $43.7 million, or $14.58 per share (the “Repurchase”). Additionally, on October 11, 2022, affiliates of Warburg sold 3,750,000 shares of Class A Common Stock to an unrelated party for $14.58 per share (collectively with the Repurchase, the “Warburg Sales”). Immediately preceding the Warburg Sales, Warburg owned approximately 18.7% of the outstanding Class A Common Stock and 14.1% of the Class A Common Stock and Class B Common Stock combined. Immediately following the Warburg Sales and through December 31, 2022, Warburg owned approximately 12.3% of the Class A Common Stock and 9.3% of the Class A Common Stock and Class B Common Stock combined.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual Commitments Future minimum contractual commitments as of December 31, 2022 under non-cancellable agreements having initial or remaining terms in excess of one year are as follows: 2023 2024 2025 2026 2027 Thereafter Office leases $ 1,138 $ 1,160 $ 868 $ 1,052 $ 961 $ 327 Automobile leases 907 724 200 — — — Total $ 2,045 $ 1,884 $ 1,068 $ 1,052 $ 961 $ 327 Additionally, the Company leases corporate office space in The Woodlands, Texas; Midland, Texas and San Angelo, Texas. Rent expense was approximately $0.9 million, $0.8 million and $0.8 million, for the years ended December 31, 2022, 2021 and 2020, respectively. Minimum lease payments under the terms of non-cancellable operating leases as of December 31, 2022 are included in the table above. Environmental The Company’s operations are subject to risks normally associated with the drilling, completion and production of oil and gas, including blowouts, fires, and environmental risks such as oil spills or gas leaks that could expose the Company to liabilities associated with these risks. In the Company’s acquisition of existing or previously drilled well bores, the Company may not be aware of prior environmental safeguards, if any, that were taken at the time such wells were drilled or during such time the wells were operated. The Company maintains comprehensive insurance coverage that it believes is adequate to mitigate the risk of any adverse financial effects associated with these risks. However, should it be determined that a liability exists with respect to any environmental cleanup or restoration, the liability to cure such a violation could still fall upon the Company. No claim has been made, nor is the Company aware of any liability which the Company may have, as it relates to any environmental cleanup, restoration, or the violation of any rules or regulations relating thereto except for the matter discussed above. Legal George Assad, et. al. v. EnCap Investments L.P., et. al.: On September 12, 2022, a complaint (the “Complaint”) styled as a “derivative action” was filed in the Delaware Court of Chancery (the “Court”) by George Assad (the “plaintiff”) a purported holder of a small number of shares of Class A Common Stock against Earthstone, six of its 10 directors and EnCap, a principal stockholder. The Complaint alleges that a majority of Earthstone’s directors were conflicted and, along with EnCap, breached their fiduciary duties in approving the sale of shares of Series A Convertible Preferred Stock that is convertible into Class A Common Stock pursuant to the SPA. The plaintiff requested the Court to declare that the defendants breached their fiduciary duties, award of unspecified monetary damages, including interest and costs, and/ or rescind the stock purchase transaction. On October 14, 2022, the defendants filed a motion to dismiss the amended Complaint. Earthstone believes the Complaint is completely without merit and intends to contest vigorously the allegations made therein and to seek reimbursement for its costs and expenses in so doing. Earthstone carries insurance for the claims asserted against it and the officer and director defendants in the Complaint, and the carrier has accepted coverage subject to applicable self-retentions and limits of liability. The Company does not expect this case to have a material adverse effect on the results of operations, financial position or cash flows of the Company. From time to time, the Company may be involved in other various legal proceedings and claims in the ordinary course of business.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
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. The following table shows the components of the Company’s income tax provision for the years ended December 31, 2022, 2021 and 2020 ( in thousands ): Years Ended December 31, 2022 2021 2020 Current: Federal $ — $ — $ — State 1,811 625 545 Total current $ 1,811 $ 625 $ 545 Deferred: Federal $ 114,876 $ 901 $ (147) State 7,729 333 (510) Total deferred $ 122,605 $ 1,234 $ (657) Total income tax expense (benefit) $ 124,416 $ 1,859 $ (112) Effective Tax Rate A reconciliation of the effective tax rate to the federal statutory rate for the years ended December 31, 2022, 2021 and 2020 is as follows ( in thousands, except percentages ): Years Ended December 31, 2022 2021 2020 Net income (loss) before income taxes $ 775,033 $ 63,365 $ (29,546) Statutory rate 21 % 21 % 21 % Tax expense (benefit) computed at statutory rate $ 162,757 $ 13,307 $ (6,204) Noncontrolling interest (41,743) (5,613) 3,349 Non-deductible general and administrative expenses 1,360 (455) 1,943 Return to accrual and other true-up (73) — 157 State income taxes, net of Federal benefit 9,187 958 35 Valuation allowance (7,072) (6,338) 608 Total income tax expense (benefit) $ 124,416 $ 1,859 $ (112) Effective tax rate 16.1 % 2.9 % 0.4 % During the year ended December 31, 2022, the Company recorded total income tax expense of $124.4 million which included (1) deferred income tax expense for Lynden US of $7.1 million as a result of its share of the distributable income from EEH, (2) deferred income tax expense for Earthstone of $107.8 million, which included a deferred income tax expense of $114.9 million, resulting from its share of the distributable income from EEH, offset by a $7.1 million release of valuation allowance, (3) current income tax expense of $1.8 million solely related to the Texas Margin Tax and (4) state deferred income tax expense of $0.8 million related to the Texas Margin Tax and $6.9 million related to New Mexico corporate income tax expense. Lynden Corp incurred no material income or loss, or related income tax expense or benefit, for the year ended December 31, 2022. During the year ended December 31, 2021, the Company recorded total income tax expense of $1.9 million which included (1) deferred income tax expense for Lynden US of $0.9 million as a result of its share of the distributable income from EEH, (2) deferred income tax expense for Earthstone of $6.3 million as a result of its share of the distributable income from EEH, which was offset by a valuation allowance as future realization of the net deferred tax asset cannot be assured and (3) current income tax expense of $0.63 million, offset by deferred income tax expense of $0.33 million related to the Texas Margin Tax. Lynden Corp incurred no material income or loss, or related income tax expense or benefit, for the year ended December 31, 2021. During the year ended December 31, 2020, the Company recorded total income tax benefit of $0.11 million which included (1) deferred income tax benefit for Lynden US of $0.15 million as a result of its share of the distributable income from EEH, (2) deferred income tax benefit for Earthstone of $0.61 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 cannot be assured and (3) current income tax expense of $0.55 million, offset by deferred income tax benefit of $0.51 million related to the Texas Margin Tax. Lynden Corp incurred no material income or loss, or related income tax expense or benefit, for the year ended December 31, 2020. Deferred Tax Assets and Liabilities The Company’s deferred tax position reflects the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting. Significant components of the deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows ( in thousands ): Years Ended December 31, 2022 2021 Deferred noncurrent income tax assets (liabilities): Oil & gas properties $ 11,437 $ 20,909 Basis difference in subsidiary obligation (2,364) (2,211) Investment in Partnerships (186,925) (40,141) Federal net operating loss carryforward 40,695 16,544 Interest limitation 2,581 — Net deferred noncurrent tax (liability) asset $ (134,576) $ (4,899) Valuation allowance (3,760) (10,832) Net deferred tax liability $ (138,336) $ (15,731) As of December 31, 2022, the Company had a valuation allowance recorded against its deferred tax asset of $3.8 million which is in excess of its net deferred noncurrent tax liabilities of $134.6 million, as presented above. The Company’s corporate organizational structure requires the filing of two separate consolidated U.S. Federal corporate income tax returns, one separate U.S. Federal partnership income tax return and one Canadian income tax return. As a result, tax attributes of one group cannot be offset by the tax attributes of another. At December 31, 2022, the deferred tax assets and liabilities related to the two U.S. Federal corporate income tax returns, one Canadian income tax return and one related to the Texas Margin Tax are a $113.7 million deferred tax liability, a $18.5 million deferred tax liability, a $3.8 million deferred tax asset and a $6.1 million deferred tax liability, respectively, before considering the valuation allowance of $3.8 million. As of December 31, 2021, the Company had a valuation allowance recorded against its deferred tax assets of $10.8 million which is in excess of its Net deferred noncurrent tax assets of $7.8 million, as presented above. The Company’s corporate organizational structure requires the filing of two separate consolidated U.S. Federal income tax returns, one separate U.S. Federal partnership income tax return and one Canadian income tax return. As a result, tax attributes of one group cannot be offset by the tax attributes of another. At December 31, 2021, the deferred tax assets and liabilities related to the two U.S. Federal income tax returns, one Canadian income tax and one related to the Texas Margin Tax were a $19.7 million deferred tax asset, a $10.4 million deferred tax liability, a $3.8 million deferred tax asset and a $5.3 million deferred tax liability, respectively, before considering the valuation allowance of $10.8 million. As of December 31, 2022, (1) Earthstone had estimated U.S. net operating loss carryforwards of $29.1 million, expiring in 2036 and 2037 and $120.1 million with an indefinite carryforward life (“ICL”), (2) Lynden US had estimated U.S. net operating loss carryforwards available for use of $3.7 million, expiring from 2036 through 2037 and $22.4 million with an indefinite carryforward life, and, (3) Lynden Corp had Canadian net operating loss carryforwards of $10.0 million, the first expiring in 2024 and the last in 2037. ICL loss deductions are limited to 80% of the excess of taxable income in the year utilized. Additionally, the ability to utilize net operating losses and other tax attributes could be subject to a significant limitation if the Company were to undergo an ownership change for the purposes of Section 382 (“Sec 382”) of the Internal Revenue Code of 1986, as amended (the “Code”). On February 15, 2022, the Company completed the Chisholm Acquisition which included the issuance of 19,417,476 shares of Class A Common Stock, which resulted in an ownership change within the meaning of Sec 382. As a result of the ownership change, the Company’s annual usage of net operating losses (“NOLs”) and credits generated prior to the ownership change date may be limited, however, at this time, we do not expect any of the losses to expire unused as a result of this ownership change. Earthstone generated approximately $97.6 million in NOL carryforward assets in 2022, of which, $85.3 million relates to the time period post ownership change within the meaning of Section 382 and is not subject to limitation. Lynden US generated approximately $14.3 million in NOL carryforward assets in 2022, of which, $12.5 million relates to the time period post ownership change within the meaning of Section 382 and is not subject to limitation. Lynden US previously experienced an ownership change on May 17, 2016 and at that time certain NOLs were identified as being expected to expire unusable. The Company continues to evaluate the impact, if any, of potential Sec 382 limitations. Uncertain Tax Positions FASB ASC Topic 740, Income Taxes (“ASC 740”) prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of income tax positions taken or expected to be taken in an income tax return. For those benefits to be recognized, an income tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. As of December 31, 2022, the Company had no material uncertain tax positions. The Company’s uncertain tax positions may change in the next twelve months; however, the Company does not expect any possible change to have a significant impact on its results of operations or financial position. The Company files two Federal income tax returns, one Canadian income tax return and various combined and separate filings in several state and local jurisdictions. The Company’s practice is to recognize estimated interest and penalties, if any, related to potential underpayment of income taxes as a component of income tax expense in its Consolidated Statement of Operations. As of December 31, 2022, the Company did not have any accrued interest or penalties associated with any uncertain tax liabilities.

Defined Contribution Plan

Defined Contribution Plan	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined Contribution Plan	Defined Contribution PlanThe Company sponsors a 401(k) defined contribution plan (the “401(k) Plan”) for substantially all of its employees, which was initiated in April 2017. Eligible employees may make contributions to the 401(k) Plan by electing to contribute up to 100% of their annual compensation, not to exceed annual limits established by the federal government. The Company makes matching contributions of 100% of employee contributions, not to exceed six percent of the employee’s annual eligible compensation. The Company’s matching contributions vest immediately. The Company’s contributions to the 401(k) Plan for the years ended December 31, 2022, 2021 and 2020 were $1.1 million, $0.5 million and $0.5 million, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases The Company’s operating lease activities consist of leases for office space. The Company’s 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 The following table shows the classification and location of the Company’s leases on the Consolidated Balance Sheets (in thousands) : December 31, Leases Balance Sheet Location 2022 2021 Assets Noncurrent: Operating Operating lease right-of-use assets $ 4,569 $ 1,795 Finance Office and other equipment, net of accumulated depreciation and amortization 1,678 — Total lease assets $ 6,247 $ 1,795 Liabilities Current: Operating Operating lease liabilities $ 842 $ 681 Finance Finance lease liabilities 802 — Noncurrent: Operating Operating lease liabilities 3,889 1,276 Finance Finance lease liabilities 876 — Total lease liabilities $ 6,409 $ 1,957 The following table shows the classification and location of the Company’s lease costs on the Consolidated Statements of Operations (in thousands) : Years Ended December 31, Statement of Operations Location 2022 2021 2020 Operating lease expense General and administrative expense $ 884 $ 803 $ 786 Finance lease expense: Amortization of right-of-use assets Depreciation, depletion and amortization $ 549 $ 74 $ 217 Interest on lease liability Interest expense, net 100 2 13 Total lease expense $ 1,533 $ 879 $ 1,016 Additionally, the Company capitalized as part of oil and gas properties $23.9 million, $6.4 million and $2.9 million of short-term lease costs related to drilling rig contracts during the years ended December 31, 2022, 2021 and 2020. All of the Company’s drilling rig contracts have enforceable terms of less than one year. Minimum contractual obligations for the Company’s leases (undiscounted) as of December 31, 2022 were as follows (in thousands) : Operating Finance 2023 $ 1,138 $ 907 2024 1,160 724 2025 868 200 2026 1,052 — 2027 961 — Thereafter 327 — Total lease payments $ 5,506 $ 1,831 Less imputed interest (775) (153) Total lease liability $ 4,731 $ 1,678 The following table shows the weighted average remaining lease term and the weighted average discount rate for the Company’s leases as of the dates indicated: December 31, 2022 December 31, 2021 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term (in years) 4.1 2.3 2.9 n/a Weighted-average discount rate (1) 6.67 % 8.00 % 4.35 % n/a (1) The discount rate used for operating leases is based on the Company’s incremental borrowing rate at lease commencement and may be adjusted if modifications to lease terms or lease reassessments occur. The discount rate used for finance leases is based on the rates implicit in the leases. The following table includes other quantitative information for the Company’s leases (in thousands) : Years Ended December 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Cash payments for operating leases $ 857 $ 778 Cash payments for finance leases $ 649 $ 70 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,447 $ — Right-of-use assets obtained in exchange for new finance lease liabilities $ 2,227 $ —
Leases	Leases The Company’s operating lease activities consist of leases for office space. The Company’s 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 The following table shows the classification and location of the Company’s leases on the Consolidated Balance Sheets (in thousands) : December 31, Leases Balance Sheet Location 2022 2021 Assets Noncurrent: Operating Operating lease right-of-use assets $ 4,569 $ 1,795 Finance Office and other equipment, net of accumulated depreciation and amortization 1,678 — Total lease assets $ 6,247 $ 1,795 Liabilities Current: Operating Operating lease liabilities $ 842 $ 681 Finance Finance lease liabilities 802 — Noncurrent: Operating Operating lease liabilities 3,889 1,276 Finance Finance lease liabilities 876 — Total lease liabilities $ 6,409 $ 1,957 The following table shows the classification and location of the Company’s lease costs on the Consolidated Statements of Operations (in thousands) : Years Ended December 31, Statement of Operations Location 2022 2021 2020 Operating lease expense General and administrative expense $ 884 $ 803 $ 786 Finance lease expense: Amortization of right-of-use assets Depreciation, depletion and amortization $ 549 $ 74 $ 217 Interest on lease liability Interest expense, net 100 2 13 Total lease expense $ 1,533 $ 879 $ 1,016 Additionally, the Company capitalized as part of oil and gas properties $23.9 million, $6.4 million and $2.9 million of short-term lease costs related to drilling rig contracts during the years ended December 31, 2022, 2021 and 2020. All of the Company’s drilling rig contracts have enforceable terms of less than one year. Minimum contractual obligations for the Company’s leases (undiscounted) as of December 31, 2022 were as follows (in thousands) : Operating Finance 2023 $ 1,138 $ 907 2024 1,160 724 2025 868 200 2026 1,052 — 2027 961 — Thereafter 327 — Total lease payments $ 5,506 $ 1,831 Less imputed interest (775) (153) Total lease liability $ 4,731 $ 1,678 The following table shows the weighted average remaining lease term and the weighted average discount rate for the Company’s leases as of the dates indicated: December 31, 2022 December 31, 2021 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term (in years) 4.1 2.3 2.9 n/a Weighted-average discount rate (1) 6.67 % 8.00 % 4.35 % n/a (1) The discount rate used for operating leases is based on the Company’s incremental borrowing rate at lease commencement and may be adjusted if modifications to lease terms or lease reassessments occur. The discount rate used for finance leases is based on the rates implicit in the leases. The following table includes other quantitative information for the Company’s leases (in thousands) : Years Ended December 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Cash payments for operating leases $ 857 $ 778 Cash payments for finance leases $ 649 $ 70 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,447 $ — Right-of-use assets obtained in exchange for new finance lease liabilities $ 2,227 $ —

Supplemental Disclosures

Supplemental Disclosures	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures	Supplemental Disclosures Accounts Payable The following table summarizes the Company’s current accounts payable at December 31, 2022 and 2021 (in thousands): December 31, 2022 2021 Accounts payable related to vendors $ 76,044 $ 22,877 Accounts payable related to severance taxes 10,380 2,603 Other 5,391 5,917 Total accounts payable $ 91,815 $ 31,397 Revenue and Royalties Payable The following table summarizes the Company’s current revenues and royalties payable at December 31, 2022 and 2021 (in thousands): December 31, 2022 2021 Revenue held in suspense $ 101,838 $ 14,777 Revenue and royalties payable 61,530 21,412 Total revenue and royalties payable $ 163,368 $ 36,189 Accrued Expenses The following table summarizes the Company’s current accrued expenses at December 31, 2022 and 2021 (in thousands): December 31, 2022 2021 Accrued capital expenditures $ 38,482 $ 10,563 Accrued lease operating expenses 14,173 2,858 Accrued interest 10,995 648 Accrued general and administrative expense 7,351 8,011 Accrued ad valorem taxes 4,243 544 Other 5,698 9,080 Total accrued expenses $ 80,942 $ 31,704 Supplemental Cash Flow Information The following table provides supplemental disclosures of cash flow information for the years ended December 31, 2022, 2021 and 2020 (in thousands): Years Ended December 31, 2022 2021 2020 Cash paid for: Interest $ 12,520 $ 9,648 $ 4,588 Income taxes $ 625 $ 325 $ — Non-cash investing and financing activities: Class A Common Stock issued in Chisholm Acquisition $ 249,515 $ — $ — Class A Common Stock issued in Bighorn Acquisition $ 77,757 $ — $ — Class A Common Stock issued in Titus Acquisition $ 53,574 $ — $ — Class A Common Stock issued in IRM Acquisition $ — $ 76,572 $ — Class A Common Stock issued in Tracker/Sequel Acquisition $ — $ 61,814 $ — Class A Common Stock issued in Foreland Acquisition $ — $ 28,121 $ — Accrued capital expenditures $ 58,569 $ 23,558 $ 7,328 Lease asset additions - ASC 842 $ 5,674 $ — $ — Asset retirement obligations $ 3,158 $ 2,178 $ 762

Supplemental Information On Oil

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited)	12 Months Ended
	Dec. 31, 2022
Extractive Industries [Abstract]
Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited)	Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) Costs Incurred Related to Oil and Gas Activities Capitalized costs include the cost of properties, equipment, and facilities for oil and natural gas producing activities. Capitalized costs for proved properties include costs for oil and natural gas leaseholds where proved reserves have been identified, development wells, and related equipment and facilities, including development wells in progress. Capitalized costs for unproved properties include costs for acquiring oil and natural gas leaseholds where no proved reserves have been identified, including costs of exploratory wells that are in the process of drilling or in active completion, and costs of exploratory wells suspended or waiting on completion. The Company’s oil and natural gas activities for 2022, 2021 and 2020 were entirely within the United States of America. Costs incurred in oil and natural gas producing activities were as follows ( in thousands ): Years Ended December 31, 2022 2021 2020 Acquisition cost: Proved $ 1,934,602 $ 465,144 $ — Unproved 77,378 43 — Exploration costs: Geological and geophysical 2,492 341 298 Development costs 538,114 134,035 67,550 Total additions $ 2,552,586 $ 599,563 $ 67,848 During the years ended December 31, 2022, 2021 and 2020, additions to oil and natural gas properties of $3.2 million, $2.2 million and $0.8 million, respectively, were recorded for estimated costs of future abandonment related to new wells drilled or acquired. During the years ended December 31, 2022, 2021 and 2020, the Company had no capitalized exploratory well costs, nor capitalized costs related to share-based compensation, general corporate overhead or similar activities. Capitalized Costs Capitalized costs, impairment, and depreciation, depletion and amortization relating to the Company’s oil and natural gas properties producing activities, all of which are conducted within the continental United States as of December 31, 2022 and 2021, are summarized below ( in thousands ): December 31, 2022 2021 Oil and gas properties, successful efforts method: Proved properties $ 4,088,553 $ 1,726,019 Accumulated impairment to proved properties (100,652) (100,652) Proved properties, net of accumulated impairments 3,987,901 1,625,367 Unproved properties 349,905 289,341 Accumulated impairment to Unproved properties (67,316) (67,316) Unproved properties, net of accumulated impairments 282,589 222,025 Land 5,482 5,382 Total oil and gas properties, net of accumulated impairments 4,275,972 1,852,774 Accumulated depreciation, depletion and amortization (619,196) (395,625) Net oil and gas properties $ 3,656,776 $ 1,457,149 Oil and Natural Gas Reserves Users of this information should be aware that the process of estimating quantities of “proved” and “proved developed” oil and natural gas reserves is very complex, requiring significant subjective decisions in the evaluation of all available geological, engineering and economic data for each reservoir. The data for a given reservoir may also change substantially over time as a result of numerous factors including, but not limited to, additional development activity, evolving production history and continual reassessment of the viability of production under varying economic conditions. As a result, revisions to existing reserve estimates may occur from time to time. Although every reasonable effort is made to ensure reserve estimates reported represent the most accurate assessments possible, the subjective decisions and variances in available data for various reservoirs make these estimates generally less precise than other estimates included in the financial statement disclosures. Proved reserves represent estimated quantities of oil, natural gas and natural gas liquids that geological and engineering data demonstrate, with reasonable certainty, to be recoverable in future years from known reservoirs under economic and operating conditions in effect when the estimates were made. Proved developed reserves represent estimated quantities expected to be recovered through wells and equipment in place and under operating methods used when the estimates were made. The proved reserves estimates shown herein for the years ended December 31, 2022, 2021 and 2020 have been prepared by Cawley, Gillespie & Associates, Inc., independent petroleum engineers. Proved reserves were estimated in accordance with guidelines established by the SEC, which require that reserve estimates be prepared under existing economic and operating conditions based upon the 12-month unweighted average of the first-day-of-the-month prices. The reserve information in these Consolidated Financial Statements represents only estimates. There are a number of uncertainties inherent in estimating quantities of proved reserves, including many factors beyond the Company’s control, such as commodity pricing. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact manner. The accuracy of any reserve estimate is a function of the quality of available data and engineering and geological interpretation and judgment. As a result, estimates by different engineers may vary. In addition, results of drilling, testing and production subsequent to the date of an estimate may lead to revising the original estimate. Accordingly, initial reserve estimates are often different from the quantities of oil and natural gas that are ultimately recovered. The meaningfulness of such estimates depends primarily on the accuracy of the assumptions upon which they were based. Except to the extent the Company acquires additional properties containing proved reserves or conducts successful exploration and development activities or both, the Company’s proved reserves will decline as reserves are produced. The following table illustrates the Company’s estimated net proved reserves, including changes, and proved developed and proved undeveloped reserves for the periods indicated. The oil prices as of December 31, 2022, 2021 and 2020 are based on the respective 12-month unweighted average of the first of the month prices of the West Texas Intermediate (“WTI”) spot prices which equates to $93.67 per barrel, $66.56 per barrel and $39.57 per barrel, respectively. The natural gas prices as of December 31, 2022, 2021 and 2020 are based on the respective 12-month unweighted average of the first of month prices of the Henry Hub spot price which equates to $6.36 per MMBtu, $3.60 per MMBtu and $1.99 per MMBtu, respectively. Natural gas liquids are made up of ethane, propane, isobutane, normal butane and natural gasoline, each of which have different uses and different pricing characteristics. The natural gas liquids prices used to value reserves as of December 31, 2022, 2021 and 2020 averaged $39.24 per barrel, $30.16 per barrel and $11.61 per barrel, respectively. All prices are adjusted by lease or field for energy content, transportation fees, and market differentials, resulting in the aforementioned oil, natural gas and natural gas liquids reserves as of December 31, 2022 being valued using prices of $95.82 per barrel, $5.51 per MMBtu and $39.24 per barrel, respectively. All prices are held constant in accordance with SEC guidelines. A summary of the Company’s changes in quantities of proved oil, natural gas and natural gas liquid reserves for the years ended December 31, 2022, 2021 and 2020 are as follows: Oil Natural Gas Natural Gas Liquids Total Balance - December 31, 2019 52,650 107,990 23,688 94,336 Extensions 420 1,258 230 860 Production (3,180) (7,282) (1,237) (5,630) Revision to previous estimates (9,800) 9,249 (2,432) (10,691) Balance - December 31, 2020 40,090 111,215 20,249 78,875 Extensions 7,016 49,846 6,532 21,856 Sales of minerals in place (8) (1) — (8) Purchases of minerals in place 25,114 106,539 17,103 59,973 Production (4,381) (14,505) (2,257) (9,055) Revision to previous estimates (6,756) 31,787 (2,596) (4,054) Balance - December 31, 2021 61,075 284,881 39,031 147,587 Extensions 13,430 51,346 7,895 29,883 Sales of minerals in place (2,044) (6,631) (1,417) (4,566) Purchases of minerals in place 85,237 429,646 56,268 213,113 Production (11,866) (54,392) (7,599) (28,531) Revision to previous estimates (7,432) 37,316 11,663 10,450 Balance - December 31, 2022 138,400 742,166 105,841 367,936 Proved developed reserves: December 31, 2019 18,220 35,120 7,447 31,521 December 31, 2020 18,878 55,764 10,125 38,298 December 31, 2021 35,824 190,999 25,917 93,575 December 31, 2022 88,759 574,762 80,168 264,721 Proved undeveloped reserves: December 31, 2019 34,430 72,870 16,241 62,815 December 31, 2020 21,212 55,450 10,123 40,577 December 31, 2021 25,251 93,882 13,114 54,012 December 31, 2022 49,641 167,404 25,673 103,215 The table below presents the quantities of proved oil, natural gas and natural gas liquids reserves attributable to noncontrolling interests as of December 31, 2022 and 2021 and 2020: As of December 31, 2022 Oil Natural Gas Natural Gas Liquids Total Proved developed 21,750 140,845 19,645 64,870 Proved undeveloped 12,165 41,022 6,291 25,293 Total proved 33,915 181,867 25,936 90,163 As of December 31, 2021 Oil Natural Gas Natural Gas Liquids Total Proved developed 14,011 74,702 10,137 36,598 Proved undeveloped 9,876 36,719 5,129 21,125 Total proved 23,887 111,421 15,266 57,723 As of December 31, 2020 Oil Natural Gas Natural Gas Liquids Total Proved developed 10,113 29,873 5,424 20,516 Proved undeveloped 11,363 29,704 5,423 21,737 Total proved 21,476 59,577 10,847 42,253 Notable changes in proved reserves for the year ended December 31, 2022 included the following: • Extensions. In 2022, extensions of 29.9 MMBoe were primarily the result of successful drilling results in the Midland Basin. • Purchases of minerals in place. In 2022, the Company completed multiple acquisitions that resulted in 213.1 MMBoe in additional reserves, as disclosed in Note 4. Acquisitions and Divestitures. • Revision to previous estimates. In 2022, the upward revisions of prior reserves of 10.5 MMBoe consisted of 6.5 MMBoe related to changes in price and 4.0 MMBoe related to changes in performance and other economic factors. Notable changes in proved reserves for the year ended December 31, 2021 included the following: • Extensions. In 2021, total extensions of 21.9 MMBoe were primarily the result of successful drilling results in the Midland Basin. • Purchases of mineral in place. In 2021, the Company completed multiple acquisitions that resulted in 60.0 MMBoe in additional reserves, as disclosed above in Note 4. Acquisitions and Divestitures . • Revision to previous estimates. In 2021, the downward revisions of prior reserves of 4.1 MMBoe consisted of changes in anticipated well densities and changes in performance and other economic factors totaling 9.2 MMBoe and 5.5 MMBoe, respectively, offset by a positive revision of 10.6 MMBoe related to changes in prices. Notable changes in proved reserves for the year ended December 31, 2020 included the following: • Extensions. In 2020, total extensions of 860.0 MBoe were primarily the result of successful drilling results in the Midland Basin. • Revision to previous estimates. In 2020, the downward revisions of prior reserves of 10.7 MMBoe were composed of negative revisions due to the reclassification of 11.9 MMBoe of reserves from proved undeveloped to non-proved due to the SEC's five-year development rule and negative revisions of 2.7 MMBoe due to changes in price offset by revisions of 3.9 MMBoe related to changes in performance and other economic factors. For wells classified as proved developed producing where sufficient production history existed, reserves were based on individual well performance evaluation and production decline curve extrapolation techniques. For undeveloped locations and wells that lack sufficient production history, reserves were based on analogy to producing wells within the same area exhibiting similar geologic and reservoir characteristics. Well spacing was determined from drainage patterns derived from a combination of performance-based recoveries and analogous producing wells for each area or field. PUD locations were limited to areas of uniformly high-quality reservoir properties, between existing commercial producers where the reservoir can, with reasonable certainty, be judged to be continuous with existing producers and contain economically producible oil and natural gas on the basis of available geoscience and engineering data. Changes in PUD reserves for the years ended December 31, 2022, 2021 and 2020 were as follows ( in MBoe ): Proved undeveloped reserves at December 31, 2019 (1) 62,815 Conversions to developed (8,200) Extensions — Revision to previous estimates (14,038) Proved undeveloped reserves at December 31, 2020 (2) 40,577 Conversions to developed (8,274) Extensions 20,521 Purchases of minerals in place 11,577 Revision to previous estimates (10,389) Proved undeveloped reserves at December 31, 2021 (3) 54,012 Conversions to developed (22,637) Extensions 16,499 Purchases of minerals in place 57,432 Revision to previous estimates (2,091) Proved undeveloped reserves at December 31, 2022 (4) 103,215 (1) Includes 34,243 MBoe attributable to noncontrolling interests. (2) Includes 21,737 MBoe attributable to noncontrolling interests. (3) Includes 21,125 MBoe attributable to noncontrolling interests. (4) Includes 25,293 MBoe attributable to noncontrolling interests. 2022 Changes in Proved Undeveloped Reserves Conversions to developed . In the Company's year-end 2021 plan to develop its PUDs within five years, it was estimated that $190.2 million of capital would be expended in 2022 for the conversion of 45 gross / 31.8 net PUDs to add 24.5 MMBoe. In 2022, the Company spent $191.2 million to convert 42 gross / 26.6 net PUDs adding 22.6 MMBoe to developed. Extensions . In 2022, extensions of 16.5 MMBoe were primarily the result of successful drilling results in the Delaware Basin and the Midland Basin. Purchases of minerals in place . In 2022, the Company completed multiple acquisitions that resulted in 57.4 MMBoe of additional reserves, as disclosed in Note 4. Acquisitions and Divestitures . Revision to previous estimates. Downward revisions of prior reserves of 2.1 MMBoe consisted of 2.4 MMBoe related to changes in performance and other economic factors, offset by a positive revision of 0.3 MMBoe related to changes in prices. 2021 Changes in Proved Undeveloped Reserves Conversions to developed . In the Company's year-end 2020 plan to develop its PUDs within five years, it was estimated that $41.1 million of capital would be expended in 2021 for the conversion of 13 gross / 10.5 net PUDs to add 6.7 MMBoe. In 2021, due to improved commodity prices, the Company spent $55.1 million to convert 16 gross / 13.1 net PUDs adding 8.3 MMBoe to developed. Revision to previous estimates. Downward revisions of prior reserves of 10.4 MMBoe consisted of changes in anticipated well densities and changes in performance and other economic factors of 9.2 MMBoe and 2.9 MMBoe, respectively, offset by a positive revision of 1.7 MMBoe related to changes in prices. 2020 Changes in Proved Undeveloped Reserves Conversions to developed . In the Company's year-end 2019 plan to develop its PUDs within five years, the Company estimated that $111.1 million of capital would be expended in 2020 for the conversion of 28 gross / 17.6 net PUDs to add 11.3 MMBoe. In 2020, due to unforeseeable conditions previously described, the Company spent $67.8 million to convert 18 gross / 10.3 net PUDs adding 8.2 MMBoe to developed. Revision to previous estimates. The Company maintains a five-year development plan, reviewed annually to ensure capital is allocated to the wells that have the highest risk-adjusted rates of return within the Company's inventory of undrilled well locations. In response to lower commodity prices, the Company reduced the pace of activity in its five-year development plan. This resulted in the reclassification of 11.9 MMBoe of reserves from proved undeveloped to non-proved during the year ended December 31, 2020 due to the five-year development rule. Based on the Company's then-current acreage position, strip prices, anticipated well economics, and its development plans at the time these reserves were classified as proved, the Company's management believes the previous classification of these locations as proved undeveloped was appropriate. The remaining revisions of 2.1 MMBoe were primarily due to reduced commodity prices. Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Natural Gas Reserves The following Standardized Measure of Discounted Future Net Cash Flows (Standardized Measure) has been developed utilizing FASB ASC Topic 932, Extractives Activities – Oil and Gas (“ASC 932”) procedures and based on oil and natural gas reserve and production volumes estimated by the Company’s third-party petroleum engineering firm. It can be used for some comparisons, but should not be the only method used to evaluate the Company or its performance. Further, the information in the following table may not represent realistic assessments of future cash flows, nor should the Standardized Measure be viewed as representative of the current value of the Company. The Company believes that the following factors should be taken into account when reviewing the following information: • Future costs and commodity prices will probably differ from those required to be used in these calculations; • Due to future market conditions and governmental regulations, actual rates of production in future years may vary significantly from the rate of production assumed in the calculations; • A 10% discount rate may not be reasonable as a measure of the relative risk inherent in realizing future net oil and natural gas revenues; and • Future net revenues may be subject to different rates of income taxation. At December 31, 2022, 2021 and 2020, as specified by the SEC, the prices for oil and natural gas used in this calculation were the unweighted 12-month average of the first day of the month prices, except for volumes subject to fixed price contracts. Prices used to estimate reserves are included in Oil and Natural Gas Reserves above. Future production costs include per-well overhead expenses allowed under joint operating agreements, abandonment costs (net of salvage value), and a non-cancellable fixed cost agreement to reserve pipeline capacity of 10,000 MMBtu per day for gathering and processing. Estimates of future income taxes are computed using current statutory income tax rates including consideration for estimated future statutory depletion and tax credits. The resulting net cash flows are reduced to present value amounts by applying a 10% discount factor. The Standardized Measure at December 31, 2022, 2021 and 2020 is as follows ( in thousands ): December 31, 2022 2021 2020 Future cash inflows $ 21,506,026 $ 6,042,508 $ 1,902,073 Future production costs (6,362,901) (1,641,130) (633,248) Future development costs (1,207,597) (470,008) (285,088) Future income tax expense (1,910,370) (381,663) (35,557) Future net cash flows 12,025,158 3,549,707 948,180 10% annual discount for estimated timing of cash flows (5,300,657) (1,731,335) (487,327) Standardized measure of discounted future net cash flows (1) $ 6,724,501 $ 1,818,372 $ 460,853 (1) At December 31, 2022, 2021 and 2020, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $1.6 billion, $711.2 million and $246.9 million, respectively. Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Natural Gas Reserves The following is a summary of the changes in the Standardized Measure for the Company’s proved oil and natural gas reserves during each of the years in the three-year period ended December 31, 2022 ( in thousands ): December 31, 2022 2021 2020 Beginning of year $ 1,818,372 $ 460,853 $ 789,577 Sales of oil and gas produced, net of production costs (1,341,586) (343,914) (105,555) Sales of minerals in place (76,570) 14 14 Net changes in prices and production costs 3,838,439 1,346,851 (381,769) Extensions and improved recoveries 1,178,521 216,583 14,644 Changes in income taxes, net (866,805) (185,757) 17,826 Previously estimated development costs incurred during the period 246,705 41,120 66,788 Net changes in future development costs (295,553) (104,223) 258,741 Purchases of minerals in place 2,011,980 465,187 — Revisions of previous quantity estimates 3,283 (151,748) (273,781) Accretion of discount 345,642 76,121 81,999 Changes in timing of estimated cash flows and other (137,927) (2,715) (7,631) End of year (1) $ 6,724,501 $ 1,818,372 $ 460,853 (1) At December 31, 2022, 2021 and 2020, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $1.6 billion, $711.2 million and $246.9 million, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements include the accounts and balances of the Company and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany accounts and transactions, including revenues and expenses, are eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s Consolidated Financial Statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the respective reporting periods then ended. Estimated quantities of crude oil, natural gas and natural gas liquids reserves are the most significant of the Company’s estimates. All reserve data used in the preparation of the Consolidated Financial Statements, as well as included in Note 20. Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) , are based on estimates. Reservoir engineering is a subjective process of estimating underground accumulations of crude oil, natural gas and natural gas liquids. There are numerous uncertainties inherent in estimating quantities of proved crude oil, natural gas and natural gas liquids reserves. The accuracy of any reserve estimate is a function of the quality of available data and of engineering and geological interpretation and judgment. As a result, reserve estimates may be different from the quantities of crude oil, natural gas and natural gas liquids that are ultimately recovered. Other items subject to estimates and assumptions include, but are not limited to, the carrying amounts of property, plant and equipment, asset retirement obligations, valuation allowances for deferred income tax assets, valuation of derivative instruments and valuation of certain performance-based restricted stock unit awards. Management evaluates estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic and commodity price environment. The volatility of commodity prices results in increased uncertainty inherent in such estimates and assumptions. See Note 20. Supplemental Information On Oil and Gas Exploration and Production Activities (Unaudited) . Although management believes these estimates are reasonable, actual results may differ from estimates and assumptions of future events and these revisions could be material. Future production may vary materially from estimated oil and natural gas proved reserves. Actual future prices may vary significantly from price assumptions used for determining proved reserves and for financial reporting.
Accounts Receivable	Accounts Receivable Accounts receivable include estimated amounts due from crude oil, natural gas, and natural gas liquids purchasers, other operators for which the Company holds an interest, and from non-operating working interest owners. Accrued crude oil, natural gas, and natural gas liquids sales from purchasers and operators consist of accrued revenues due under normal trade terms, generally requiring payment within 60 days of production. For receivables from joint interest owners, the Company typically has the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. An allowance for doubtful accounts is established based on reviews of individual customer accounts, recent loss experience, current economic conditions, and other pertinent factors. Accounts deemed uncollectible are charged to the allowance.
Derivative Instruments	Derivative Instruments The Company utilizes derivative instruments in order to manage exposure to risks associated with fluctuating commodity prices and interest rates. The Company recognizes all derivatives as either assets or liabilities, measured at fair value, and recognizes changes in the fair value of derivatives in current earnings. The Company has elected to not designate any of its positions under the hedge accounting rules. Accordingly, these derivative contracts are mark-to-market and any changes in the estimated values of derivative contracts held at the balance sheet date are recognized in (Loss) gain on derivative contracts, net in the Consolidated Statements of Operations as unrealized gains or losses on derivative contracts. Realized gains or losses on derivative contracts are also recognized in (Loss) gain on derivative contracts, net in the Consolidated Statements of Operations.
Oil and Natural Gas Properties	Oil and Natural Gas Properties The method of accounting for oil and natural gas properties determines what costs are capitalized and how these costs are ultimately matched with revenues and expenses. The Company uses the successful efforts method of accounting for oil and natural gas properties. For more information see Note 8. Oil and Natural Gas Properties .
Office and Other Equipment	Office and Other EquipmentOffice and other equipment primarily includes leasehold improvements, vehicles, computer equipment and software, office furniture and fixtures and field equipment. These items are recorded at cost, or fair value if acquired, and are depreciated using the straight-line method based on expected lives of the individual assets or group of assets ranging from two years to 10 years.
Noncontrolling Interest	Noncontrolling InterestNoncontrolling Interest represents third-party equity ownership of EEH and is presented as a component of equity in the Consolidated Balance Sheets as of December 31, 2022 and 2021, as well as an adjustment to Net income in the Consolidated Statements of Operations for the years ended December 31, 2022 and 2021.
Segment Reporting	Segment Reporting Operating segments are components of an enterprise that (i) engage in activities from which it may earn revenues and incur expenses (ii) for which separate operational financial information is available and is regularly evaluated by the chief operating decision maker for the purpose of allocating resources and assessing performance.
Asset Retirement Obligations	Asset Retirement Obligations Asset retirement obligations associated with the retirement of long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the asset, including the asset retirement cost, is depreciated over the useful life of the asset. Asset retirement obligations are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at the Company’s
Business Combinations	Business Combinations The Company accounts for its acquisitions of oil and gas properties not commonly controlled in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805, Business Combinations, which, among other things, requires the Company to determine if an asset or a business has been acquired. If the Company determines an asset(s) has been acquired, the asset(s) acquired, as well as any liabilities assumed, are measured and recorded at the acquisition date cost. If the Company determines a business has been acquired, the assets acquired and liabilities assumed are measured and recorded at their fair values as of the acquisition date, recording goodwill for amounts paid in excess of fair value.
Revenue Recognition	Revenue Recognition The Company’s revenues are comprised solely of revenues from customers and include the sale of oil, natural gas and natural gas liquids. The Company believes that the disaggregation of revenue into these three major product types, as presented in the Consolidated Statements of Operations, appropriately depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors based on its single geographic region. Revenues are recognized when the recognition criteria of ASC 606 “Revenue from Contracts with Customers,” (“ASC 606”) are met, which generally occurs at a point in time when production is sold to a purchaser at a determinable price, delivery has occurred, control has transferred and collection of the revenue is probable. The Company fulfills its performance obligations under its customer contracts through delivery of oil, natural gas and natural gas liquids and revenues are recorded on a monthly basis and the Company receives payment from one to three months after delivery. Generally, each unit of product represents a separate performance obligation. The prices received for oil, natural gas and natural gas liquids sales under the Company’s contracts are generally derived from stated market prices which are then adjusted to reflect deductions including transportation, fractionation and processing. As a result, revenues from the sale of oil, natural gas and natural gas liquids will decrease if market prices decline. The sales of oil, natural gas and natural gas liquids, as presented on the Consolidated Statements of Operations, represent the Company’s share of revenues net of royalties and excluding revenue interests owned by others. When selling oil, natural gas and natural gas liquids on behalf of royalty or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the expected sales volumes and prices for those properties are estimated and recorded. Variances between the Company’s estimated revenue and actual payment are recorded in the month the payment is received. Historically, however, differences have been insignificant. At the end of each month when the performance obligation is satisfied, the variable consideration can be reasonably estimated and amounts due from customers are recorded in “Accounts receivable: oil, natural gas, and natural gas liquids revenues” in the Consolidated Balance Sheets. As of December 31, 2022 and 2021, amounts receivable from contracts with customers were $161.5 million and $50.6 million, respectively. Taxes assessed by governmental authorities on oil, natural gas and natural gas liquid sales are presented separately from such revenues in the Consolidated Statements of Operations. Oil Sales Oil production is transported from the wellhead to tank batteries or delivery points through flow-lines or gathering systems. Purchasers of the oil take delivery at (i) the tank batteries and transport the oil by truck, or (ii) at a pipeline delivery point and the Company collects a market price, net of pricing differentials. Revenue is recognized when control transfers to the purchaser at the net price received by the Company. Starting in October 2019, certain of the Company’s oil sales activity involves buy/sell arrangements that effect a change in location with required repurchase of oil at a delivery point. Because the Company acts as the agent in these transactions, the buy/sell activity is recorded on a net basis and the residual transportation fee is included in Lease operating expenses in the Consolidated Statements of Operations. Natural Gas and Natural Gas Liquid Sales Under the Company’s natural gas sales arrangements, the purchaser takes control of wet gas at a delivery point near the wellhead or at the inlet of the purchaser’s processing facility. The purchaser gathers and processes the wet gas and remits proceeds to the Company for the resulting natural gas and natural gas liquid sales. Based on the nature of these arrangements, the Company is the agent and the purchaser is the Company’s customer, thus, the Company recognizes natural gas and natural gas liquid sales based on the net amount of proceeds received from the purchaser. Imbalances The Company recognizes revenue for all oil, natural gas and natural gas liquid sold to purchasers regardless of whether the sales are proportionate to the Company’s ownership interest in the property. Production imbalances are recognized as a liability to the extent an imbalance on a specific property exceeds the Company’s share of remaining proved oil, natural gas liquid and natural gas reserves. The Company is also subject to natural gas pipeline imbalances, which are recorded as accounts receivable or payable at values consistent with contractual arrangements with the owner of the pipeline. The Company had no imbalances as of December 31, 2022 or 2021. Contract Balances Under the Company’s product sales contracts, the Company invoices customers once performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s product sales contracts do not give rise to contract assets or liabilities under ASC 606. Transaction Price Allocated to Remaining Performance Obligations Substantially all of the Company’s product sales are short-term in nature, with a contract term of one year or less. For these contracts, the Company has utilized the practical expedient in ASC 606 which exempts the Company from the requirements to disclose the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For the Company’s product sales that have a contract term greater than one year, the Company has utilized the practical expedient in ASC 606 which states the Company is not required to disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these contracts, each unit of product generally represents a separate performance obligation; therefore, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. Prior-Period Performance Obligations The Company records revenue in the month that product is delivered to the purchaser. Settlement statements for certain natural gas and natural gas liquids sales, however, may not be received for 30 to 90 days after the date the product is delivered, and as a result the Company is required to estimate the amount of product delivered to the purchaser and the price that will be received for the sale of the product. In these situations, the Company records the differences between its estimates and the actual amounts received for product sales in the month that payment is received from the purchaser. Any identified differences between the Company’s revenue estimates and actual revenue received have historically been insignificant. For the years ended December 31, 2022 and 2021, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods was not material.
Concentration of Credit Risk	Concentration of Credit Risk Credit risk represents the actual or perceived financial loss that the Company would record if its purchasers, operators, or counterparties failed to perform pursuant to contractual terms. The purchasers of the Company’s oil, natural gas, and natural gas liquids production consist primarily of independent marketers, major oil and natural gas companies and natural gas pipeline companies. Historically, the Company has not experienced any significant losses from uncollectible accounts. In the year ended December 31, 2022, three purchasers accounted for 21%, 20% and 14%, respectively, of the Company’s oil, natural gas, and natural gas liquids revenues. In the year ended December 31, 2021, two purchasers accounted for 34% and 13%, respectively, of the Company’s oil, natural gas, and natural gas liquids revenues. In the year ended December 31, 2020, three purchasers accounted for 32%, 15% and 12%, respectively, of the Company’s oil, natural gas, and natural gas liquids revenues. No other purchaser accounted for 10% or more of the Company’s oil, natural gas, and natural gas liquids revenues during the years ended December 31, 2022, 2021 or 2020. Additionally, at December 31, 2022, four purchasers accounted for 21%, 19% , 18% and 14%, respectively, of the Company’s oil, natural gas and natural gas liquids receivables. At December 31, 2021, three purchasers accounted for 26%, 21% and 12%, respectively, of the Company’s oil, natural gas, and natural gas liquids receivables. No other purchaser accounted for 10% or more of the Company’s oil, natural gas, and natural gas liquids receivables at December 31, 2022 and 2021. The Company holds working interests in oil and natural gas properties for which a third-party serves as operator. The operator sells the oil, natural gas, and natural gas liquids to the purchaser, collects the cash, and distributes the cash to the Company. In the year ended December 31, 2022, one operator distributed 8% of the Company’s oil, natural gas and natural gas liquids revenues. In the year ended December 31, 2021 one operator distributed 13% of the Company’s oil, natural gas and natural gas liquids revenues. In the year ended December 31, 2020, one operator distributed 15% of the Company’s oil, natural gas and natural gas liquids revenues. The derivative instruments of the Company are with a small number of counterparties and, from time-to-time, may represent material assets in the Consolidated Balance Sheets. It is our policy to enter into derivative contracts only with counterparties that are creditworthy financial institutions deemed by management as competent and competitive. At December 31, 2022, the Company had a net derivative asset position of $26.4 million. At December 31, 2021, the Company had a net derivative liability position of $44.4 million. The Company regularly maintains its cash in bank deposit accounts. Balances held by the Company at its banks typically exceed Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and, as a result, there is a concentration of credit risk related to the amounts of deposit in excess of FDIC insurance coverage.
Stock-Based Compensation	Stock-Based CompensationThe Company recognized stock-based compensation expense associated with restricted stock units, which include both time- and performance-based awards. The Company accounts for forfeitures of equity-based incentive awards as they occur. Stock-based compensation expense related to time-based restricted stock units is based on the price of the Class A Common Stock on the grant date and recognized over the vesting period using the straight-line method. The Company classifies grants to be settled in shares as equity awards and awards to be settled in cash a liability awards. The Company accounts for these awards based on a grant date Monte Carlo Simulation pricing model, which calculates multiple potential outcomes for an award and establishes fair value based on the most likely outcome, and is recognized over the vesting period using the straight-line method.
Income Taxes	Income Taxes The Company is a U.S. company operating in Texas and New Mexico, as of December 31, 2022, and includes one foreign legal entity, Lynden Corp, which is a Canadian company. Consequently, the Company’s tax provision is based upon the tax laws and rates in effect in the applicable jurisdiction in which its operations are conducted and income is earned. The income tax rates imposed and methods of computing taxable income in these jurisdictions vary. Therefore, as a part of the process of preparing the Consolidated Financial Statements, the Company is required to estimate the income taxes in each of these jurisdictions. This process involves estimating the actual current tax exposure together with assessing temporary differences resulting from differing treatment of items, such as depreciation, amortization and certain accrued liabilities for tax and accounting purposes. The Company’s effective tax rate for financial statement purposes will continue to fluctuate from year to year as its operations are conducted in different taxing jurisdictions. The Company records an income tax provision consistent with its status as a corporation. The Company’s corporate structure requires the filing of two separate consolidated U.S. Federal income tax returns and one Canadian income tax return resulting from Earthstone’s acquisition of Lynden Corp in May 2016 (the “Lynden Arrangement”) that includes 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 noncontrolling interest, as well as any standalone income or loss generated by each company. 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. The Company’s deferred tax expense or benefit represents the change in the balance of deferred tax assets or liabilities reported in the Consolidated Balance Sheets. Valuation allowances are established to reduce deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. At December 31, 2022 and 2021, the Company has recorded a valuation allowance for its deferred tax assets in the Consolidated Balance Sheets. The Company applies the accounting standards related to uncertainty in income taxes. This accounting guidance clarifies the accounting for uncertainties in income taxes by prescribing a minimum recognition threshold that a tax position is required to meet before being recognized in the Consolidated Financial Statements. It requires that the Company recognize in the Consolidated Financial Statements the financial effects of a tax position, if that position is more likely than not of being sustained upon examination, including resolution of any appeals or litigation processes, based upon the technical merits of the position. It also provides guidance on measurement, classification, interest, penalties and disclosure. The Company’s tax positions related to its pass-through status and state income tax liability, including deductibility of expenses, have been reviewed by the Company’s management and they believe those positions would more likely than not be sustained upon examination. Accordingly, the Company has not recorded an income tax liability for uncertain tax positions at December 31, 2022 or 2021.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Reference Rate Reform - In March 2020, the FASB issued an update that provides optional guidance for a limited period of time to ease the transition from LIBOR to an alternative reference rate. The ASU intends to address certain concerns relating to
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 Topic 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 Topic 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 year ended December 31, 2022. Fair Value on a Recurring Basis Derivative Financial Instruments Derivative financial instruments are carried at fair value and measured on a recurring basis. The derivative financial instruments consist of fixed price swaps, basis swaps, costless collars and deferred premium put options for crude oil and natural gas and interest rate swaps. The Company’s commodity price hedges and interest rate swaps are valued based on discounted future cash flow models that are primarily based on published forward commodity price curves and published LIBOR forward curves; thus, these inputs are designated as Level 2 within the valuation hierarchy. The fair values of derivative instruments in asset positions include measures of counterparty nonperformance risk, and the fair values of derivative instruments in liability positions include measures of the Company’s nonperformance risk. These measurements were not material to the Consolidated Financial Statements. Share-based Compensation Liability Certain of our performance-based stock awards (“PSUs”) may be payable in cash. The Company classifies the awards that may be settled in cash as liability awards. These awards are valued quarterly 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. The inputs for the Monte Carlo model are designated as Level 2 within the valuation hierarchy. The share-based compensation liability related to the PSU liability awards is included in Accrued expenses and Other noncurrent liabilities in the Consolidated Balance Sheet as of December 31, 2022.

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	12 Months Ended
	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Summary of Changes in Noncontrolling Interest	The following table presents the changes in noncontrolling interest for the year ended December 31, 2022: EEH Units Held By Earthstone and Lynden US % EEH Units Held By Others % Total EEH Units Outstanding As of December 31, 2021 53,467,307 60.9 % 34,344,532 39.1 % 87,811,839 EEH Units issued in connection with the Chisholm Acquisition 19,417,476 — 19,417,476 EEH Units issued in connection with the Bighorn Acquisition 5,650,977 — 5,650,977 EEH Units issued in connection with the Conversion of Preferred Stock 25,225,225 — 25,225,225 EEH Units issued in connection with the Titus Acquisition 3,857,015 — 3,857,015 EEH Units and shares of Class B Common Stock exchanged for shares of Class A Common Stock 84,891 (84,891) — EEH Units issued in connection with the vesting of restricted stock units 844,248 — 844,248 EEH Units cancelled in connection with the share repurchase (3,000,000) — (3,000,000) As of December 31, 2022 105,547,139 75.5 % 34,259,641 24.5 % 139,806,780

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Asset Acquisition	The consideration transferred, fair value of assets acquired and liabilities assumed by the Company were recorded as follows (in thousands, except share amounts and stock price): Consideration: Shares of Class A Common Stock issued 3,857,015 Class A Common Stock price as of August 10, 2022 $ 13.89 Class A Common Stock consideration 53,574 Cash consideration 566,532 Direct transaction costs (1) 1,144 Total consideration transferred $ 621,250 Fair value of assets acquired: Oil and gas properties $ 625,017 Amount attributable to assets acquired $ 625,017 Fair value of liabilities assumed: Current liabilities $ 2,853 Noncurrent liabilities - ARO 914 Amount attributable to liabilities assumed $ 3,767 (1) Represents $1.1 million of transaction costs associated with the Titus Acquisition which have been capitalized in accordance with ASC 805-50. Total Consideration: Shares of Earthstone Class A Common Stock issued 6,200,000 Earthstone Class A Common Stock price as of July 20, 2021 $ 9.97 Class A Common Stock consideration $ 61,814 Cash consideration (1) 60,159 Direct transaction costs (2) 1,715 Total consideration transferred $ 123,688 Fair value of assets acquired: Oil and gas properties $ 124,288 Amount attributable to assets acquired $ 124,288 Fair value of liabilities assumed: Noncurrent liabilities - ARO $ 600 Amount attributable to liabilities assumed $ 600 (1) Includes customary purchase price adjustments. (2) Represents $1.7 million of transaction costs associated with the Tracker Acquisition and the Sequel Acquisition that have been capitalized in accordance with ASC 805-50.
Schedule of Business Acquisitions, by Acquisition	The consideration transferred, fair value of assets acquired and liabilities assumed by the Company were recorded as follows (in thousands, except share amounts and stock price): Consideration: Shares of Class A Common Stock issued 5,650,977 Class A Common Stock price as of April 14, 2022 $ 13.76 Class A Common Stock consideration $ 77,757 Cash consideration 625,842 Direct transaction costs (1) 2,347 Total consideration transferred $ 705,946 Fair value of assets acquired: Current assets $ 769 Oil and gas properties 746,116 Amount attributable to assets acquired $ 746,885 Fair value of liabilities assumed: Suspense payable $ 25,710 Other current liabilities 2,035 Noncurrent liabilities - ARO 13,194 Amount attributable to liabilities assumed $ 40,939 Consideration: Shares of Class A Common Stock issued 19,417,476 Class A Common Stock price as of February 15, 2022 $ 12.85 Class A Common Stock consideration $ 249,515 Cash consideration 383,976 Total consideration transferred $ 633,491 Fair value of assets acquired: Oil and gas properties $ 642,485 Amount attributable to assets acquired $ 642,485 Fair value of liabilities assumed: Other current liabilities $ 3,023 Asset retirement obligation - noncurrent 5,971 Amount attributable to liabilities assumed $ 8,994 Consideration: Shares of Class A Common Stock issued 12,719,594 Class A Common Stock price as of January 7, 2021 $ 6.02 Class A Common Stock consideration $ 76,572 Cash consideration 140,507 Total consideration transferred $ 217,079 Fair value of assets acquired: Cash $ 4,763 Other current assets 11,524 Oil and gas properties 224,112 Other non-current assets 252 Amount attributable to assets acquired $ 240,651 Fair value of liabilities assumed: Derivative liability $ 10,177 Other current liabilities 5,196 Asset retirement obligation - noncurrent 8,199 Amount attributable to liabilities assumed $ 23,572
Schedule of Business Acquisition, Pro Forma Information	These unaudited supplemental pro forma results of operations are provided for illustrative purposes only and do not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that may be achieved by the Company in the future. Future results may vary significantly from the results reflected in this unaudited pro forma financial information (in thousands, except per share amounts): Years Ended December 31, 2022 2021 Revenue $ 1,731,159 $ 637,803 Income (loss) before taxes $ 795,447 $ (63,479) Net income (loss) $ 671,031 $ (65,339) Less: Net income (loss) attributable to noncontrolling interest $ 204,349 $ (27,644) Net income (loss) attributable to Earthstone Energy, Inc. $ 466,682 $ (37,695) Pro forma net income (loss) per common share attributable to Earthstone Energy, Inc.: Basic $ 5.14 $ (0.56) Diluted $ 4.85 $ (0.54)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
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) : December 31, 2022 Level 1 Level 2 Level 3 Total Financial assets Derivative asset- current $ — $ 31,331 $ — $ 31,331 Derivative asset- noncurrent — 9,117 — 9,117 Total financial assets $ — $ 40,448 $ — $ 40,448 Financial liabilities Derivative liability - current $ — $ 14,053 $ — $ 14,053 Share-based compensation liability - current — 14,411 — 14,411 Share-based compensation liability - noncurrent — 10,357 — 10,357 Total financial liabilities $ — $ 38,821 $ — $ 38,821 December 31, 2021 Financial assets Derivative asset- current $ — $ 1,348 $ — $ 1,348 Derivative asset- noncurrent — 157 — 157 Total financial assets $ — $ 1,505 $ — $ 1,505 Financial liabilities Derivative liability - current $ — $ 45,310 $ — $ 45,310 Derivative liability - noncurrent — 571 — 571 Share-based compensation liability - current — 7,835 — 7,835 Share-based compensation liability - noncurrent — 6,324 — 6,324 Total financial liabilities $ — $ 60,040 $ — $ 60,040

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivative Contracts	The following table sets forth the Company’s outstanding derivative contracts at December 31, 2022. When aggregating multiple contracts, the weighted average contract price is disclosed. Period Commodity Volume Price 2023 Crude Oil Swap 1,642,500 $76.94 2023 Crude Oil Basis Swap (1) 9,488,500 $0.92 2023 Natural Gas Swap 3,670,000 $3.52 2023 Natural Gas Basis Swap (2) 51,100,000 $(1.67) 2024 Natural Gas Basis Swap (2) 36,600,000 $(1.05) (1) The basis differential price is between WTI Midland Argus Crude and the WTI NYMEX. (2) The basis differential price is between W. Texas (WAHA) and the Henry Hub NYMEX. Costless Collars Period Commodity Volume Bought Floor Sold Ceiling 2023 Crude Oil Costless Collar 2,080,500 $63.33 $82.83 2023 Natural Gas Costless Collar 22,188,000 $3.82 $7.44 Deferred Premium Puts Period Commodity Volume $/Bbl (Put Price) $/Bbl (Net of Premium) 2023 Crude Oil 1,931,500 $ 69.53 $ 64.12
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 Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Consolidated Balance Sheets (in thousands) : December 31, 2022 December 31, 2021 Derivatives not Balance Sheet Location Gross Gross Net Gross Gross Net Commodity contracts Derivative asset - current $ 51,803 $ (20,472) $ 31,331 $ 3,191 $ (1,843) $ 1,348 Commodity contracts Derivative liability - current $ 34,525 $ (20,472) $ 14,053 $ 47,153 $ (1,843) $ 45,310 Commodity contracts Derivative asset - noncurrent $ 9,117 $ — $ 9,117 $ 2,721 $ (2,564) $ 157 Commodity contracts Derivative liability - noncurrent $ — $ — $ — $ 3,135 $ (2,564) $ 571
Summary of Realized and Unrealized Gains and Losses on Derivative Instruments	The follow table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivatives instruments in the Company’s Consolidated Statements of Operations and Consolidated Statements of Cash Flows (in thousands) : Derivatives not designated as hedging contracts under ASC Topic 815 Years Ended December 31, Statement of Cash Flows Location Statement of Operations Location 2022 2021 2020 Unrealized gain (loss) Not presented separately Not presented separately $ 70,769 $ (40,795) $ 3,855 Realized (loss) gain Operating portion of net cash received in settlement of derivative contracts Not presented separately (195,876) (75,966) 56,044 Total loss (gain) on derivative contracts, net (Loss) gain on derivative contracts, net $ (125,107) $ (116,761) $ 59,899

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Reconciliation of Net Income (Loss) Per Common Share	A reconciliation of Net income (loss) per common share is as follows: Years Ended December 31, (In thousands, except per share amounts) 2022 2021 2020 Net income (loss) attributable to Earthstone Energy, Inc. $ 452,485 $ 35,484 $ (13,547) Net income (loss) attributable to Earthstone Energy, Inc. from assumed conversion of Series A Convertible Preferred Stock (1) 12,388 — — Net income (loss) attributable to Earthstone Energy, Inc. - Diluted $ 464,873 $ 35,484 $ (13,547) Net income (loss) per common share attributable to Earthstone Energy, Inc.: Basic $ 5.12 $ 0.75 $ (0.45) Diluted $ 4.83 $ 0.71 $ (0.45) Weighted average common shares outstanding Basic 88,349,088 47,169,948 29,911,625 Add potentially dilutive securities: Unvested restricted stock units 416,031 539,803 — Unvested performance units 1,757,841 2,242,342 — Series A Convertible Preferred Stock (1) 5,805,257 — — Diluted weighted average common shares outstanding 96,328,217 49,952,093 29,911,625 (1) On April 14, 2022, Earthstone issued 280,000 shares of Series A Convertible Preferred Stock which automatically converted into 25,225,225 shares of Class A Common Stock on July 6, 2022. Under the “If-Converted” method, the shares would have been assumed issued on April 14, 2022, which would have resulted in an additional allocation of Net income (loss) attributable to Earthstone Energy, Inc. of $12.4 million for the year ended December 31, 2022.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Unvested RSU and PSU Award Activity	The table below summarizes unvested RSU activity for the year ended December 31, 2022: Shares Weighted-Average Grant Date Fair Value Unvested RSUs at December 31, 2021 771,817 $ 5.91 Granted 780,765 $ 13.65 Forfeited (16,934) $ 8.17 Vested (665,670) $ 7.75 Unvested RSUs at December 31, 2022 869,978 $ 11.40 The table below summarizes performance unit (“PSU”) activity for the year ended December 31, 2022: Shares Weighted-Average Grant Date Fair Value Unvested PSUs at December 31, 2021 2,751,725 $ 8.42 Granted 472,485 $ 19.42 Vested (608,125) $ 9.30 Unvested PSUs at December 31, 2022 2,616,085 $ 10.21
Schedule Of Total Shareholder Return Goals	Between 0x to 2.0x of the Performance Units are eligible to be earned based on Earthstone achieving an annualized TSR based on the following pre-established goals: Earthstone’s Annualized TSR TSR Multiplier 23.9% or greater 2.0 14.5% 1.0 8.4% 0.5 Less than 8.4% 0.0 Earthstone’s Annualized TSR TSR Multiplier 20.5% or greater 2.0 14.5% 1.0 7.7% 0.5 Less than 7.7% 0.0 Earthstone’s Annualized TSR TSR Multiplier 23.9% or greater 2.0 14.5% 1.0 8.4% 0.5 Less than 8.4% 0.0

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company's long-term debt consisted of the following ( in thousands ): December 31, 2022 December 31, 2021 Revolving credit facility (1) $ 270,136 $ 320,000 Term loan under credit facility due 2027 250,000 — 8.000% Senior notes due 2027 550,000 — $ 1,070,136 $ 320,000 Unamortized debt issuance costs on term loan (5,309) — Unamortized debt issuance costs on 8.000% Senior notes (10,948) — Long-term debt, net $ 1,053,879 $ 320,000 (1) Related to the revolving credit facility borrowings, the Company had debt issuance costs of $15.3 million and $6.7 million, net of accumulated amortization of $6.5 million and $3.3 million, as of December 31, 2022 and 2021, respectively. Unamortized deferred financing costs on the revolving credit facility borrowings are included in Other noncurrent assets in the Consolidated Balance Sheets.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2022
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 years ended December 31, 2022 and 2021 (in thousands) : 2022 2021 Beginning asset retirement obligations $ 15,866 $ 3,027 Associated with acquisitions 20,078 9,821 Liabilities incurred 533 163 Property dispositions (10,284) (41) Liabilities settled (910) (185) Accretion expense 2,652 1,065 Revision of estimates 2,625 2,016 Ending asset retirement obligations $ 30,560 $ 15,866

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lessee, Operating Lease, Liability, Maturity	Future minimum contractual commitments as of December 31, 2022 under non-cancellable agreements having initial or remaining terms in excess of one year are as follows: 2023 2024 2025 2026 2027 Thereafter Office leases $ 1,138 $ 1,160 $ 868 $ 1,052 $ 961 $ 327 Automobile leases 907 724 200 — — — Total $ 2,045 $ 1,884 $ 1,068 $ 1,052 $ 961 $ 327 Minimum contractual obligations for the Company’s leases (undiscounted) as of December 31, 2022 were as follows (in thousands) : Operating Finance 2023 $ 1,138 $ 907 2024 1,160 724 2025 868 200 2026 1,052 — 2027 961 — Thereafter 327 — Total lease payments $ 5,506 $ 1,831 Less imputed interest (775) (153) Total lease liability $ 4,731 $ 1,678

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Provision	The following table shows the components of the Company’s income tax provision for the years ended December 31, 2022, 2021 and 2020 ( in thousands ): Years Ended December 31, 2022 2021 2020 Current: Federal $ — $ — $ — State 1,811 625 545 Total current $ 1,811 $ 625 $ 545 Deferred: Federal $ 114,876 $ 901 $ (147) State 7,729 333 (510) Total deferred $ 122,605 $ 1,234 $ (657) Total income tax expense (benefit) $ 124,416 $ 1,859 $ (112)
Schedule of Reconciliation of Effective Tax Rate to Statutory Rate	A reconciliation of the effective tax rate to the federal statutory rate for the years ended December 31, 2022, 2021 and 2020 is as follows ( in thousands, except percentages ): Years Ended December 31, 2022 2021 2020 Net income (loss) before income taxes $ 775,033 $ 63,365 $ (29,546) Statutory rate 21 % 21 % 21 % Tax expense (benefit) computed at statutory rate $ 162,757 $ 13,307 $ (6,204) Noncontrolling interest (41,743) (5,613) 3,349 Non-deductible general and administrative expenses 1,360 (455) 1,943 Return to accrual and other true-up (73) — 157 State income taxes, net of Federal benefit 9,187 958 35 Valuation allowance (7,072) (6,338) 608 Total income tax expense (benefit) $ 124,416 $ 1,859 $ (112) Effective tax rate 16.1 % 2.9 % 0.4 %
Schedule of Components of Deferred Tax Assets and Liabilities	Significant components of the deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows ( in thousands ): Years Ended December 31, 2022 2021 Deferred noncurrent income tax assets (liabilities): Oil & gas properties $ 11,437 $ 20,909 Basis difference in subsidiary obligation (2,364) (2,211) Investment in Partnerships (186,925) (40,141) Federal net operating loss carryforward 40,695 16,544 Interest limitation 2,581 — Net deferred noncurrent tax (liability) asset $ (134,576) $ (4,899) Valuation allowance (3,760) (10,832) Net deferred tax liability $ (138,336) $ (15,731)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Assets and Liabilities Lessee	The following table shows the classification and location of the Company’s leases on the Consolidated Balance Sheets (in thousands) : December 31, Leases Balance Sheet Location 2022 2021 Assets Noncurrent: Operating Operating lease right-of-use assets $ 4,569 $ 1,795 Finance Office and other equipment, net of accumulated depreciation and amortization 1,678 — Total lease assets $ 6,247 $ 1,795 Liabilities Current: Operating Operating lease liabilities $ 842 $ 681 Finance Finance lease liabilities 802 — Noncurrent: Operating Operating lease liabilities 3,889 1,276 Finance Finance lease liabilities 876 — Total lease liabilities $ 6,409 $ 1,957
Schedule of Lease Cost Components	The following table shows the classification and location of the Company’s lease costs on the Consolidated Statements of Operations (in thousands) : Years Ended December 31, Statement of Operations Location 2022 2021 2020 Operating lease expense General and administrative expense $ 884 $ 803 $ 786 Finance lease expense: Amortization of right-of-use assets Depreciation, depletion and amortization $ 549 $ 74 $ 217 Interest on lease liability Interest expense, net 100 2 13 Total lease expense $ 1,533 $ 879 $ 1,016 The following table shows the weighted average remaining lease term and the weighted average discount rate for the Company’s leases as of the dates indicated: December 31, 2022 December 31, 2021 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term (in years) 4.1 2.3 2.9 n/a Weighted-average discount rate (1) 6.67 % 8.00 % 4.35 % n/a (1) The discount rate used for operating leases is based on the Company’s incremental borrowing rate at lease commencement and may be adjusted if modifications to lease terms or lease reassessments occur. The discount rate used for finance leases is based on the rates implicit in the leases. The following table includes other quantitative information for the Company’s leases (in thousands) : Years Ended December 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Cash payments for operating leases $ 857 $ 778 Cash payments for finance leases $ 649 $ 70 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,447 $ — Right-of-use assets obtained in exchange for new finance lease liabilities $ 2,227 $ —
Schedule of Finance Lease, Liability, Maturity	Minimum contractual obligations for the Company’s leases (undiscounted) as of December 31, 2022 were as follows (in thousands) : Operating Finance 2023 $ 1,138 $ 907 2024 1,160 724 2025 868 200 2026 1,052 — 2027 961 — Thereafter 327 — Total lease payments $ 5,506 $ 1,831 Less imputed interest (775) (153) Total lease liability $ 4,731 $ 1,678
Schedule of Lessee, Operating Lease, Liability, Maturity	Future minimum contractual commitments as of December 31, 2022 under non-cancellable agreements having initial or remaining terms in excess of one year are as follows: 2023 2024 2025 2026 2027 Thereafter Office leases $ 1,138 $ 1,160 $ 868 $ 1,052 $ 961 $ 327 Automobile leases 907 724 200 — — — Total $ 2,045 $ 1,884 $ 1,068 $ 1,052 $ 961 $ 327 Minimum contractual obligations for the Company’s leases (undiscounted) as of December 31, 2022 were as follows (in thousands) : Operating Finance 2023 $ 1,138 $ 907 2024 1,160 724 2025 868 200 2026 1,052 — 2027 961 — Thereafter 327 — Total lease payments $ 5,506 $ 1,831 Less imputed interest (775) (153) Total lease liability $ 4,731 $ 1,678

Supplemental Disclosures (Table

Supplemental Disclosures (Tables)	12 Months Ended
	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Accounts Payable	The following table summarizes the Company’s current accounts payable at December 31, 2022 and 2021 (in thousands): December 31, 2022 2021 Accounts payable related to vendors $ 76,044 $ 22,877 Accounts payable related to severance taxes 10,380 2,603 Other 5,391 5,917 Total accounts payable $ 91,815 $ 31,397
Schedule of Revenue and Royalties Payable	The following table summarizes the Company’s current revenues and royalties payable at December 31, 2022 and 2021 (in thousands): December 31, 2022 2021 Revenue held in suspense $ 101,838 $ 14,777 Revenue and royalties payable 61,530 21,412 Total revenue and royalties payable $ 163,368 $ 36,189
Schedule of Accrued Expenses	The following table summarizes the Company’s current accrued expenses at December 31, 2022 and 2021 (in thousands): December 31, 2022 2021 Accrued capital expenditures $ 38,482 $ 10,563 Accrued lease operating expenses 14,173 2,858 Accrued interest 10,995 648 Accrued general and administrative expense 7,351 8,011 Accrued ad valorem taxes 4,243 544 Other 5,698 9,080 Total accrued expenses $ 80,942 $ 31,704
Schedule of Cash Flow, Supplemental Disclosures	The following table provides supplemental disclosures of cash flow information for the years ended December 31, 2022, 2021 and 2020 (in thousands): Years Ended December 31, 2022 2021 2020 Cash paid for: Interest $ 12,520 $ 9,648 $ 4,588 Income taxes $ 625 $ 325 $ — Non-cash investing and financing activities: Class A Common Stock issued in Chisholm Acquisition $ 249,515 $ — $ — Class A Common Stock issued in Bighorn Acquisition $ 77,757 $ — $ — Class A Common Stock issued in Titus Acquisition $ 53,574 $ — $ — Class A Common Stock issued in IRM Acquisition $ — $ 76,572 $ — Class A Common Stock issued in Tracker/Sequel Acquisition $ — $ 61,814 $ — Class A Common Stock issued in Foreland Acquisition $ — $ 28,121 $ — Accrued capital expenditures $ 58,569 $ 23,558 $ 7,328 Lease asset additions - ASC 842 $ 5,674 $ — $ — Asset retirement obligations $ 3,158 $ 2,178 $ 762

Supplemental Information On O_2

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Extractive Industries [Abstract]
Schedule of Costs Incurred in Oil and Gas Producing Activities	The Company’s oil and natural gas activities for 2022, 2021 and 2020 were entirely within the United States of America. Costs incurred in oil and natural gas producing activities were as follows ( in thousands ): Years Ended December 31, 2022 2021 2020 Acquisition cost: Proved $ 1,934,602 $ 465,144 $ — Unproved 77,378 43 — Exploration costs: Geological and geophysical 2,492 341 298 Development costs 538,114 134,035 67,550 Total additions $ 2,552,586 $ 599,563 $ 67,848
Summary of Capitalized Costs, Impairment, and Depreciation, Depletion and Amortization	Capitalized costs, impairment, and depreciation, depletion and amortization relating to the Company’s oil and natural gas properties producing activities, all of which are conducted within the continental United States as of December 31, 2022 and 2021, are summarized below ( in thousands ): December 31, 2022 2021 Oil and gas properties, successful efforts method: Proved properties $ 4,088,553 $ 1,726,019 Accumulated impairment to proved properties (100,652) (100,652) Proved properties, net of accumulated impairments 3,987,901 1,625,367 Unproved properties 349,905 289,341 Accumulated impairment to Unproved properties (67,316) (67,316) Unproved properties, net of accumulated impairments 282,589 222,025 Land 5,482 5,382 Total oil and gas properties, net of accumulated impairments 4,275,972 1,852,774 Accumulated depreciation, depletion and amortization (619,196) (395,625) Net oil and gas properties $ 3,656,776 $ 1,457,149
Summary of Changes in Quantities of Proved Oil and Natural Gas Reserves	A summary of the Company’s changes in quantities of proved oil, natural gas and natural gas liquid reserves for the years ended December 31, 2022, 2021 and 2020 are as follows: Oil Natural Gas Natural Gas Liquids Total Balance - December 31, 2019 52,650 107,990 23,688 94,336 Extensions 420 1,258 230 860 Production (3,180) (7,282) (1,237) (5,630) Revision to previous estimates (9,800) 9,249 (2,432) (10,691) Balance - December 31, 2020 40,090 111,215 20,249 78,875 Extensions 7,016 49,846 6,532 21,856 Sales of minerals in place (8) (1) — (8) Purchases of minerals in place 25,114 106,539 17,103 59,973 Production (4,381) (14,505) (2,257) (9,055) Revision to previous estimates (6,756) 31,787 (2,596) (4,054) Balance - December 31, 2021 61,075 284,881 39,031 147,587 Extensions 13,430 51,346 7,895 29,883 Sales of minerals in place (2,044) (6,631) (1,417) (4,566) Purchases of minerals in place 85,237 429,646 56,268 213,113 Production (11,866) (54,392) (7,599) (28,531) Revision to previous estimates (7,432) 37,316 11,663 10,450 Balance - December 31, 2022 138,400 742,166 105,841 367,936 Proved developed reserves: December 31, 2019 18,220 35,120 7,447 31,521 December 31, 2020 18,878 55,764 10,125 38,298 December 31, 2021 35,824 190,999 25,917 93,575 December 31, 2022 88,759 574,762 80,168 264,721 Proved undeveloped reserves: December 31, 2019 34,430 72,870 16,241 62,815 December 31, 2020 21,212 55,450 10,123 40,577 December 31, 2021 25,251 93,882 13,114 54,012 December 31, 2022 49,641 167,404 25,673 103,215 The table below presents the quantities of proved oil, natural gas and natural gas liquids reserves attributable to noncontrolling interests as of December 31, 2022 and 2021 and 2020: As of December 31, 2022 Oil Natural Gas Natural Gas Liquids Total Proved developed 21,750 140,845 19,645 64,870 Proved undeveloped 12,165 41,022 6,291 25,293 Total proved 33,915 181,867 25,936 90,163 As of December 31, 2021 Oil Natural Gas Natural Gas Liquids Total Proved developed 14,011 74,702 10,137 36,598 Proved undeveloped 9,876 36,719 5,129 21,125 Total proved 23,887 111,421 15,266 57,723 As of December 31, 2020 Oil Natural Gas Natural Gas Liquids Total Proved developed 10,113 29,873 5,424 20,516 Proved undeveloped 11,363 29,704 5,423 21,737 Total proved 21,476 59,577 10,847 42,253
Schedule of Changes in PUD Reserves	Changes in PUD reserves for the years ended December 31, 2022, 2021 and 2020 were as follows ( in MBoe ): Proved undeveloped reserves at December 31, 2019 (1) 62,815 Conversions to developed (8,200) Extensions — Revision to previous estimates (14,038) Proved undeveloped reserves at December 31, 2020 (2) 40,577 Conversions to developed (8,274) Extensions 20,521 Purchases of minerals in place 11,577 Revision to previous estimates (10,389) Proved undeveloped reserves at December 31, 2021 (3) 54,012 Conversions to developed (22,637) Extensions 16,499 Purchases of minerals in place 57,432 Revision to previous estimates (2,091) Proved undeveloped reserves at December 31, 2022 (4) 103,215 (1) Includes 34,243 MBoe attributable to noncontrolling interests. (2) Includes 21,737 MBoe attributable to noncontrolling interests. (3) Includes 21,125 MBoe attributable to noncontrolling interests. (4) Includes 25,293 MBoe attributable to noncontrolling interests.
Schedule Of Standardized Measure	The Standardized Measure at December 31, 2022, 2021 and 2020 is as follows ( in thousands ): December 31, 2022 2021 2020 Future cash inflows $ 21,506,026 $ 6,042,508 $ 1,902,073 Future production costs (6,362,901) (1,641,130) (633,248) Future development costs (1,207,597) (470,008) (285,088) Future income tax expense (1,910,370) (381,663) (35,557) Future net cash flows 12,025,158 3,549,707 948,180 10% annual discount for estimated timing of cash flows (5,300,657) (1,731,335) (487,327) Standardized measure of discounted future net cash flows (1) $ 6,724,501 $ 1,818,372 $ 460,853 (1) At December 31, 2022, 2021 and 2020, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $1.6 billion, $711.2 million and $246.9 million, respectively.
Schedule Of Changes In Standardized Measure Of Discontinued Future Net Cash Flows Relating To Proved Oil And Natural Gas Reserves	The following is a summary of the changes in the Standardized Measure for the Company’s proved oil and natural gas reserves during each of the years in the three-year period ended December 31, 2022 ( in thousands ): December 31, 2022 2021 2020 Beginning of year $ 1,818,372 $ 460,853 $ 789,577 Sales of oil and gas produced, net of production costs (1,341,586) (343,914) (105,555) Sales of minerals in place (76,570) 14 14 Net changes in prices and production costs 3,838,439 1,346,851 (381,769) Extensions and improved recoveries 1,178,521 216,583 14,644 Changes in income taxes, net (866,805) (185,757) 17,826 Previously estimated development costs incurred during the period 246,705 41,120 66,788 Net changes in future development costs (295,553) (104,223) 258,741 Purchases of minerals in place 2,011,980 465,187 — Revisions of previous quantity estimates 3,283 (151,748) (273,781) Accretion of discount 345,642 76,121 81,999 Changes in timing of estimated cash flows and other (137,927) (2,715) (7,631) End of year (1) $ 6,724,501 $ 1,818,372 $ 460,853 (1) At December 31, 2022, 2021 and 2020, the portion of the standardized measure of discounted future net cash flows attributable to noncontrolling interests was $1.6 billion, $711.2 million and $246.9 million, respectively.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, shares outstanding (in shares)	139,800,000
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares outstanding (in shares)	105,547,139	53,467,307
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares outstanding (in shares)	34,259,641	34,344,532
Earthstone Energy Holdings Limited Liability Company And Lynden United States Of America Incorporation | Earthstone Energy Holdings, LLC
Percentage of ownership interest held by Earthstone Energy, Inc. and Lynden US Inc.	75.50%

Noncontrolling Interest - Summa

Noncontrolling Interest - Summary of Changes in Noncontrolling Interest (Details) - shares		12 Months Ended
	Feb. 15, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, ending balance (in shares)		139,800,000
Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)		53,467,307
EEH Units issued in connect with Acquisition (in shares)				0
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		25,200,000
Outstanding, ending balance (in shares)		105,547,139	53,467,307
Chisholm Acquisition | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)	19,417,476
EEH Units Held By Earthstone and Lynden US | Earthstone Energy Holdings, LLC
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Percentage of EEH units held by Earthstone and Lynden		75.50%	60.90%
Earthstone Energy Holdings, LLC | EEH Units Held By Others
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Percentage of EEH units held by others		24.50%	39.10%
Earthstone Energy Holdings, LLC
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)		87,811,839
EEH Units cancelled in connection with the share repurchase (in shares)		(3,000,000)
Outstanding, ending balance (in shares)		139,806,780	87,811,839
Earthstone Energy Holdings, LLC | Convertible Preferred Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		25,225,225
Earthstone Energy Holdings, LLC | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		0
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)		844,248
Earthstone Energy Holdings, LLC | Titus Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		3,857,015
Earthstone Energy Holdings, LLC | Chisholm Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		19,417,476
Earthstone Energy Holdings, LLC | Bighorn Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		5,650,977
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)		53,467,307
EEH Units cancelled in connection with the share repurchase (in shares)		(3,000,000)
Outstanding, ending balance (in shares)		105,547,139	53,467,307
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US | Convertible Preferred Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		25,225,225
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		84,891
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US | 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)		844,248
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US | Titus Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		3,857,015
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US | Chisholm Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		19,417,476
Earthstone Energy Holdings, LLC | EEH Units Held By Earthstone and Lynden US | Bighorn Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		5,650,977
Earthstone Energy Holdings, LLC | EEH Units Held By Others
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Outstanding, beginning balance (in shares)		34,344,532
EEH Units cancelled in connection with the share repurchase (in shares)		0
Outstanding, ending balance (in shares)		34,259,641	34,344,532
Earthstone Energy Holdings, LLC | EEH Units Held By Others | Convertible Preferred Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		0
Earthstone Energy Holdings, LLC | EEH Units Held By Others | Class A Common Stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connection with the Conversion and exchanged for shares of Class A Common Stock		(84,891)
Earthstone Energy Holdings, LLC | EEH Units Held By Others | 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)		0
Earthstone Energy Holdings, LLC | EEH Units Held By Others | Titus Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		0
Earthstone Energy Holdings, LLC | EEH Units Held By Others | Chisholm Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		0
Earthstone Energy Holdings, LLC | EEH Units Held By Others | Bighorn Acquisition
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
EEH Units issued in connect with Acquisition (in shares)		0

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Allowance for uncollectible accounts receivable	$ 20	$ 20
Office and other equipment, net	5,400	2,000
Office and other equipment, accumulated depreciation	5,273	4,547
Depreciation expense	$ 1,300	700	$ 500
Number of reportable segment | segment	1
Receivables from contracts with customers	$ 161,500	50,600
Net derivative asset (liability)	$ 26,400
Derivative liability		$ 44,400
Sales Revenue, Net | Distributor Concentration Risk | Major Operator One
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	8%	13%	15%
Customer One | Sales Revenue, Net | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	21%	34%	32%
Customer One | Accounts Receivable | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	21%	26%
Customer Two | Sales Revenue, Net | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	20%	13%	15%
Customer Two | Accounts Receivable | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	19%	21%
Customer Three | Sales Revenue, Net | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	14%		12%
Customer Three | Accounts Receivable | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	18%	12%
Customer Four | Accounts Receivable | Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk	14%
Bold Contribution Agreement | Bold Energy Holdings, LLC | Earthstone Energy Holdings, LLC
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest	24.50%
Earthstone Energy Holdings, LLC | Earthstone Energy Holdings Limited Liability Company And Lynden United States Of America Incorporation
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest held by Earthstone Energy, Inc. and Lynden US Inc.	75.50%
Earthstone Energy Holdings, LLC | Bold Contribution Agreement | Earthstone Energy Holdings Limited Liability Company And Lynden United States Of America Incorporation
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest held by Earthstone Energy, Inc. and Lynden US Inc.	75.50%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Expected lives of individual assets or group of assets	2 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Expected lives of individual assets or group of assets	10 years

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ / shares in Units, $ in Thousands

2 Months Ended

3 Months Ended

11 Months Ended

12 Months Ended

Aug. 10, 2022 USD ($) shares

Apr. 15, 2022 USD ($)

Apr. 14, 2022 USD ($) shares

Feb. 15, 2022 USD ($) $ / shares shares

Nov. 02, 2021 USD ($) shares

Jul. 20, 2021 USD ($) shares

Jan. 07, 2021 USD ($) $ / shares

Jun. 30, 2021 USD ($) seller

Jun. 30, 2021 USD ($) seller

Dec. 31, 2022 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Business Acquisition [Line Items]

Transaction costs

$ 8,248

$ 4,875

$ 622

Proceeds from sale of oil and gas properties

49,546

975

414

Gain on sale of oil and gas properties, net

13,900

738

204

Non-core Properties

Business Acquisition [Line Items]

Proceeds from sale of oil and gas properties

49,500

Gain on sale of oil and gas properties, net

13,900

Bighorn Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

5,650,977

Cash consideration

$ 628,200

Chisholm Acquisition

Business Acquisition [Line Items]

Payments for asset acquisitions, initial payment

$ 314,000

Payments for asset acquisitions, subsequent payment

$ 70,000

Asset acquisition, percentage of voting interest acquired

36%

Pro forma revenue

$ 300,000

Pro forma operating expense

$ 131,500

Transaction costs

$ 10,700

1,800

Tracker Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

4,700,000

Cash consideration

$ 18,800

Payments to acquire assets, net of purchase price adjustments

$ 18,800

Tracker Acquisition | Significant Shareholder

Business Acquisition [Line Items]

Asset acquisition, percentage of voting interest acquired

49%

Sequel Purchase Agreement

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

1,500,000

Cash consideration

$ 41,400

Foreland Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

2,611,111

Cash consideration

$ 13,400

BCC Acquisition

Business Acquisition [Line Items]

Cash consideration

$ 20,500

Class A Common Stock | Titus Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

3,857,015

Class A Common Stock | Bighorn Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

5,650,977

Class A Common Stock | Chisholm Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

19,417,476

Share price | $ / shares

$ 12.85

Class A Common Stock | Tracker Acquisition

Business Acquisition [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

4,700,000

Titus Acquisition

Business Acquisition [Line Items]

Consideration transferred including transcation costs

$ 567,700

IRM Acquisition

Business Acquisition [Line Items]

Cash consideration

$ 140,507

Transaction costs

$ 4,000

$ 1,000

Total consideration transferred

$ 217,079

IRM Acquisition | Class A Common Stock

Business Acquisition [Line Items]

Acquisition shares price (in dollars per share) | $ / shares

$ 6.02

Eagle Ford Acquisitions

Business Acquisition [Line Items]

Business combination, number of separate sellers | seller

4

4

Total consideration transferred

$ 45,200

$ 45,200

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Asset Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands					12 Months Ended
	Aug. 10, 2022	Apr. 14, 2022	Feb. 15, 2022	Jul. 20, 2021	Dec. 31, 2022	Dec. 31, 2021
Asset Acquisition [Line Items]
Noncurrent liabilities - ARO					$ 533	$ 163
Titus Acquisition
Asset Acquisition [Line Items]
Cash consideration	$ 566,532
Direct transaction costs	1,144
Total consideration transferred	621,250
Oil and gas properties	625,017
Amount attributable to assets acquired	625,017
Current liabilities	2,853
Noncurrent liabilities - ARO	914
Amount attributable to liabilities assumed	3,767
Transaction cost	$ 1,144
Titus Acquisition | Class A Common Stock
Asset Acquisition [Line Items]
Shares of Earthstone class A common stock issued (in shares)	3,857,015
Earthstone Class A Common Stock price (in dollars per share)	$ 13.89
Class A Common Stock consideration	$ 53,574
Bighorn Acquisition
Asset Acquisition [Line Items]
Shares of Earthstone class A common stock issued (in shares)		5,650,977
Cash consideration		$ 625,842
Direct transaction costs		2,347
Total consideration transferred		705,946
Current assets		769
Oil and gas properties		746,116
Amount attributable to assets acquired		746,885
Suspense payable		25,710
Other current liabilities		2,035
Noncurrent liabilities - ARO		13,194
Amount attributable to liabilities assumed		40,939
Transaction cost		$ 2,347
Bighorn Acquisition | Class A Common Stock
Asset Acquisition [Line Items]
Shares of Earthstone class A common stock issued (in shares)		5,650,977
Earthstone Class A Common Stock price (in dollars per share)		$ 13.76
Class A Common Stock consideration		$ 77,757
Chisholm Acquisition
Asset Acquisition [Line Items]
Cash consideration			$ 383,976
Total consideration transferred			633,491
Oil and gas properties			642,485
Amount attributable to assets acquired			642,485
Other current liabilities			3,023
Noncurrent liabilities - ARO			5,971
Amount attributable to liabilities assumed			$ 8,994
Chisholm Acquisition | Class A Common Stock
Asset Acquisition [Line Items]
Shares of Earthstone class A common stock issued (in shares)			19,417,476
Earthstone Class A Common Stock price (in dollars per share)			$ 12.85
Class A Common Stock consideration			$ 249,515
Tracker And Sequel Acquisitions
Asset Acquisition [Line Items]
Cash consideration				$ 60,159
Direct transaction costs				1,715
Total consideration transferred				123,688
Oil and gas properties				124,288
Amount attributable to assets acquired				124,288
Noncurrent liabilities - ARO				600
Amount attributable to liabilities assumed				600
Transaction cost				$ 1,715
Tracker And Sequel Acquisitions | Class A Common Stock
Asset Acquisition [Line Items]
Shares of Earthstone class A common stock issued (in shares)				6,200,000
Earthstone Class A Common Stock price (in dollars per share)				$ 9.97
Class A Common Stock consideration				$ 61,814

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Business Acquisitions, by Acquisition (Details) $ / shares in Units, $ in Thousands	Jan. 07, 2021 USD ($) $ / shares shares
Fair value of liabilities assumed:
Other current liabilities	$ 5,196
IRM Acquisition
Business Acquisition [Line Items]
Cash consideration	140,507
Total consideration transferred	217,079
Fair value of assets acquired:
Cash	4,763
Other current assets	11,524
Oil and gas properties	224,112
Other non-current assets	252
Amount attributable to assets acquired	240,651
Fair value of liabilities assumed:
Derivative liability	10,177
Asset retirement obligation - noncurrent	8,199
Amount attributable to liabilities assumed	$ 23,572
IRM Acquisition | Class A Common Stock
Business Acquisition [Line Items]
Shares of Class A Common Stock issued (in shares) | shares	12,719,594
Class A Common Stock price (in dollars per share) | $ / shares	$ 6.02
Class A Common Stock consideration	$ 76,572

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Business Acquisition, Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Combination and Asset Acquisition [Abstract]
Revenue	$ 1,731,159	$ 637,803
Income (loss) before taxes	795,447	(63,479)
Net income (loss)	671,031	(65,339)
Less: Net income (loss) attributable to noncontrolling interest	204,349	(27,644)
Net income (loss) attributable to Earthstone Energy, Inc.	$ 466,682	$ (37,695)
Basic (in dollars per share)	$ 5.14	$ (0.56)
Diluted (in dollars per share)	$ 4.85	$ (0.54)

Transaction Costs (Details)

Transaction Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Transaction costs	$ 8,248	$ 4,875	$ 622
IRM Acquisition
Business Acquisition [Line Items]
Transaction costs		4,000	1,000
Other Potential Transactions
Business Acquisition [Line Items]
Transaction costs		300	300
Bold Transaction
Business Acquisition [Line Items]
Payments for reimbursement of expenses		1,200	$ 700
Chisholm And Other Divestiture Transactions
Business Acquisition [Line Items]
Transaction costs	8,200
Chisholm Acquisition
Business Acquisition [Line Items]
Transaction costs	$ 10,700	$ 1,800

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets
Derivative asset- current	$ 31,331	$ 1,348
Derivative asset- noncurrent	9,117	157
Financial liabilities
Derivative liability - current	14,053	45,310
Derivative liability - noncurrent	0	571
Fair Value on a Recurring Basis
Financial assets
Derivative asset- current	31,331	1,348
Derivative asset- noncurrent	9,117	157
Total financial assets	40,448	1,505
Financial liabilities
Derivative liability - current	14,053	45,310
Derivative liability - noncurrent		571
Share-based compensation liability - current	14,411	7,835
Share-based compensation liability - noncurrent	10,357	6,324
Total financial liabilities	38,821	60,040
Level 1 | Fair Value on a Recurring Basis
Financial assets
Derivative asset- current	0	0
Derivative asset- noncurrent	0	0
Total financial assets	0	0
Financial liabilities
Derivative liability - current	0	0
Derivative liability - noncurrent		0
Share-based compensation liability - current	0	0
Share-based compensation liability - noncurrent	0	0
Total financial liabilities	0	0
Level 2 | Fair Value on a Recurring Basis
Financial assets
Derivative asset- current	31,331	1,348
Derivative asset- noncurrent	9,117	157
Total financial assets	40,448	1,505
Financial liabilities
Derivative liability - current	14,053	45,310
Derivative liability - noncurrent		571
Share-based compensation liability - current	14,411	7,835
Share-based compensation liability - noncurrent	10,357	6,324
Total financial liabilities	38,821	60,040
Level 3 | Fair Value on a Recurring Basis
Financial assets
Derivative asset- current	0	0
Derivative asset- noncurrent	0	0
Total financial assets	0	0
Financial liabilities
Derivative liability - current	0	0
Derivative liability - noncurrent		0
Share-based compensation liability - current	0	0
Share-based compensation liability - noncurrent	0	0
Total financial liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Apr. 12, 2022	Dec. 31, 2021
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt, net	$ 1,053,879		$ 320,000
8.000% Senior Notes Due 2027 | Senior Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage	8%	8%
Interest payable	$ 9,500
8.000% Senior Notes Due 2027 | Senior Notes | Portion at Other than Fair Value Measurement
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage		8%
Deferred financing costs	10,900
Long-term debt, net	539,100
Interest payable	9,500
8.000% Senior Notes Due 2027 | Senior Notes | Estimate of Fair Value Measurement
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Fair value disclosure	$ 530,300

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule of Open Crude Oil and Natural Gas Derivative Contracts (Details)	12 Months Ended
	Dec. 31, 2022 MMBTU Boe $ / MMBTU $ / bbl bbl MMcf
Crude Oil Swap, Q4 2023 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	1,642,500
Weighted average price ($/Bbl / $/MMBtu) | $ / bbl	76.94
Crude Oil Basis Swap, Q4 2023 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	9,488,500
Weighted average price ($/Bbl / $/MMBtu) | $ / bbl	0.92
Natural Gas Swap, Q4 2023 | Natural Gas (MMcf)
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	3,670,000
Weighted average price ($/Bbl / $/MMBtu) | $ / bbl	3.52
Natural Gas Basis Swap, Q4 2023 | Natural Gas (MMcf)
Derivative [Line Items]
Natural gas volume (MMBtu) | MMBTU	51,100,000
Weighted average price ($/Bbl / $/MMBtu)	(1.67)
Natural Gas Basic Swap, Q4 2024 | Natural Gas (MMcf)
Derivative [Line Items]
Natural gas volume (MMBtu) | MMBTU	36,600,000
Weighted average price ($/Bbl / $/MMBtu)	(1.05)
Crude Oil Costless Collar One, Q4 2023 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | MMcf	2,080,500
Derivative, floor price ($/Bbl / $/MMBtu) | $ / MMBTU	63.33
Derivative, ceiling price ($/Bbl / $/MMBtu) | $ / MMBTU	82.83
Natural Gas Costless Collar Q4 2023 | Natural Gas (MMcf)
Derivative [Line Items]
Natural gas volume (MMBtu) | Boe	22,188,000
Derivative, floor price ($/Bbl / $/MMBtu) | $ / MMBTU	3.82
Derivative, ceiling price ($/Bbl / $/MMBtu) | $ / MMBTU	7.44
Crude Oil Premium Puts, Q4 2023 | Crude Oil
Derivative [Line Items]
Crude oil volume (Bbl) | bbl	1,931,500
Derivative, option strike price ($/Bbl)	69.53
Derivative, net of premium strike price ($/Bbl)	64.12

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Interest rate swaps
Derivative [Line Items]
Payment received from unwinding derivative	$ 1.1	$ 1.1

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Location and Fair Value Amounts of All Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Total financial liabilities		$ 44,400
Derivatives Not Designated as Hedging Contracts | Derivative asset - current | Commodity contracts
Derivatives, Fair Value [Line Items]
Gross recognized assets	$ 51,803	3,191
Gross Amounts Offset	(20,472)	(1,843)
Total financial assets	31,331	1,348
Derivatives Not Designated as Hedging Contracts | Derivative liability - current | Commodity contracts
Derivatives, Fair Value [Line Items]
Gross recognized liabilities	34,525	47,153
Gross Amounts Offset	(20,472)	(1,843)
Total financial liabilities	14,053	45,310
Derivatives Not Designated as Hedging Contracts | Derivative asset - noncurrent | Commodity contracts
Derivatives, Fair Value [Line Items]
Gross recognized assets	9,117	2,721
Gross Amounts Offset	0	(2,564)
Total financial assets	9,117	157
Derivatives Not Designated as Hedging Contracts | Derivative liability - noncurrent | Commodity contracts
Derivatives, Fair Value [Line Items]
Gross recognized liabilities	0	3,135
Gross Amounts Offset	0	(2,564)
Total financial liabilities	$ 0	$ 571

Derivative Financial Instrume_6

Derivative Financial Instruments - Summary of Realized and Unrealized Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Realized (loss) gain	$ 195,876	$ 75,966	$ (56,044)
(Loss) gain on commodity contracts, net	(125,107)	(116,761)	59,899
Derivatives Not Designated as Hedging Contracts | (Loss) Gain On Derivative Contracts, Net
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss)	70,769	(40,795)	3,855
Realized (loss) gain	(195,876)	(75,966)	56,044
(Loss) gain on commodity contracts, net	$ (125,107)	$ (116,761)	$ 59,899

Oil and Natural Gas Properties

Oil and Natural Gas Properties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Oil And Natural Gas Properties [Line Items]
Impairment expense	$ 0	$ 0
Accumulated impairments to proved and unproved oil and natural gas properties	168,000,000	168,000,000
Proved Oil and Natural Gas Properties
Oil And Natural Gas Properties [Line Items]
Depletion expenses	$ 300,500,000	$ 105,700,000	$ 95,900,000
Impairment expense			25,300,000
Unproved Oil and Gas Properties
Oil And Natural Gas Properties [Line Items]
Impairment expense			8,400,000
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
Unproved Oil and Gas Properties | Eagle Ford Trend Properties
Oil And Natural Gas Properties [Line Items]
Impairment expense			$ 13,200,000

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Reconciliation of Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jul. 06, 2022	Apr. 14, 2022
Class of Stock [Line Items]
Net income (loss) attributable to Earthstone Energy, Inc.	$ 452,485	$ 35,484	$ (13,547)
Net income (loss) attributable to Earthstone Energy, Inc. from assumed conversion of Series A Convertible Preferred Stock	12,388	0	0
Net income (loss) attributable to Earthstone Energy, Inc. - Diluted	$ 464,873	$ 35,484	$ (13,547)
Net income (loss) per common share attributable to Earthstone Energy, Inc.:
Basic (in dollars per share)	$ 5.12	$ 0.75	$ (0.45)
Diluted (in dollars per share)	$ 4.83	$ 0.71	$ (0.45)
Weighted average common shares outstanding
Basic (in shares)	88,349,088	47,169,948	29,911,625
Add potentially dilutive securities:
Unvested restricted stock units (in shares)	416,031	539,803	0
Unvested performance units (in shares)	1,757,841	2,242,342	0
Series A Convertible Preferred Stock (in shares)	5,805,257	0	0
Diluted weighted average common shares outstanding (in shares)	96,328,217	49,952,093	29,911,625
Preferred stock, shares issued (in shares)	0	0
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Net income (loss) attributable to Earthstone Energy, Inc. from assumed conversion of Series A Convertible Preferred Stock	$ 12,400
Add potentially dilutive securities:
Preferred stock, shares issued (in shares)	0	0			280,000
Class A Common Stock
Add potentially dilutive securities:
Convertible preferred stock, shares issued upon conversion (in shares)				25,225,225

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to noncontrolling interest	$ 198,100,000	$ 26,000,000	$ 15,900,000
Dilutive securities, effect on earnings per share	$ 0
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities, effect on earnings per share			1,100,000
Performance Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive securities, effect on earnings per share			$ 1,900,000

Common Stock and Preferred St_2

Common Stock and Preferred Stock (Details)				12 Months Ended
	Oct. 11, 2022 USD ($) $ / shares shares	Apr. 14, 2022 USD ($) shares	Jan. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2020 shares	Jul. 06, 2022 shares
Capital Unit [Line Items]
Common stock, shares outstanding (in shares)				139,800,000
Shares repurchased | $	$ 43,740,000
Shares repurchased (in dollars per share) | $ / shares	$ 14.58
Preferred stock, par value (in dollars per share) | $ / shares				$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)				0	0
Preferred stock, shares outstanding (in shares)				0	0
Securities Purchase Agreement
Capital Unit [Line Items]
Consideration received on sale of stock | $		$ 279,300,000	$ 280,000,000
Member Units | Bold Contribution Agreement
Capital Unit [Line Items]
Conversion ratio				1
Class A Common Stock
Capital Unit [Line Items]
Common stock, shares issued (in shares)				105,547,139	53,467,307
Common stock, shares outstanding (in shares)				105,547,139	53,467,307
EEH Units issued in connect with Acquisition (in shares)						0
Conversion of preferred stock (in shares)				25,200,000
Shares repurchased (in shares)	3,000,000
Convertible preferred stock, shares issued upon conversion (in shares)							25,225,225
Class A Common Stock | Securities Purchase Agreement
Capital Unit [Line Items]
Convertible preferred stock, conversion ratio			90.0900900900901
Sale of stock, price per share (in dollars per share) | $ / shares			$ 11.10
Class A Common Stock | Bold Contribution Agreement
Capital Unit [Line Items]
Conversion ratio				1
Class A Common Stock | 2014 Long Term Incentive Plan
Capital Unit [Line Items]
Treasury shares acquired (in shares)				429,547	453,483	243,924
Class A Common Stock | Chisholm Acquisition, Bighorn Acquisition and Titus Acquisition
Capital Unit [Line Items]
EEH Units issued in connect with Acquisition (in shares)				28,900,000
Class A Common Stock | IRM Acquisition, Tracker/Sequel Acquisitions and Foreland Acquisition
Capital Unit [Line Items]
EEH Units issued in connect with Acquisition (in shares)					21,500,000
Class A Common Stock | Earthstone Energy, Inc.
Capital Unit [Line Items]
EEH Units cancelled in connection with the share purchase (in shares)				1,273,795	1,381,825	914,905
Class B Common Stock
Capital Unit [Line Items]
Common stock, shares issued (in shares)				34,259,641	34,344,532
Common stock, shares outstanding (in shares)				34,259,641	34,344,532
Conversion of preferred stock (in shares)				84,891	664,839	251,309
Series A Convertible Preferred Stock
Capital Unit [Line Items]
Preferred stock, par value (in dollars per share) | $ / shares				$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)		280,000		0	0
Preferred stock, shares outstanding (in shares)				0	0
Series A Convertible Preferred Stock | Securities Purchase Agreement
Capital Unit [Line Items]
Sale of stock (in shares)		280,000	280,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.001
Sale of stock, price per share (in dollars per share) | $ / shares			$ 1,000
Series A Convertible Preferred Stock | Preferred Stock
Capital Unit [Line Items]
Conversion of preferred stock (in shares)				(280,000)
EEH Units cancelled in connection with the share purchase (in shares)				280,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands						1 Months Ended	12 Months Ended
	Feb. 09, 2022	Feb. 01, 2022	Jan. 27, 2021	Jan. 30, 2020	Jan. 28, 2019	Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense							$ 35,400	$ 21,000
Stock-based compensation expense							16,733	9,132	$ 10,054
Share-based payment arrangement, expense, tax benefit							$ 4,100	$ 2,800
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shareholder return percentage					0%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shareholder return percentage					200%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							780,765
Granted, weighted-average grant date fair value (in dollars per share)							$ 13.65
Shares vested (in shares)							665,670
Weighted average grant date fair value (in dollars per share)							$ 11.40	$ 5.91
Restricted Stock Units | 2014 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be issued under the plan (in shares)							12,000,000
Grant date fair value of units granted							$ 10,700	$ 4,100	$ 4,400
Granted, weighted-average grant date fair value (in dollars per share)							$ 13.65	$ 6.16	$ 5.07
Vesting date fair value of units vested							$ 8,900	$ 8,800	$ 3,000
Unrecognized compensation expense related to unvested stock							$ 9,200
Weighted average remaining vesting period of unrecognized compensation expense							1 year 2 months 12 days
Stock-based compensation expense							$ 6,000	5,200	5,400
Restricted Stock Units | 2014 Long Term Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period							12 months
Restricted Stock Units | 2014 Long Term Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period							36 months
Restricted Stock Units | 2014 Long Term Incentive Plan | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							727,765
Restricted Stock Units | 2014 Long Term Incentive Plan | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							53,000
Restricted Stock Units | 2014 Long Term Incentive Plan | Class A Common Stock | Bold Contribution Agreement
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
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							472,485
Grant date fair value of units granted							$ 9,200	$ 11,900	$ 5,600
Granted, weighted-average grant date fair value (in dollars per share)							$ 19.42	$ 10.85	$ 5.36
Vesting date fair value of units vested							$ 8,300	$ 3,500
Shares vested (in shares)							608,125		0
Compensation cost not yet recognized, period for recognition							8 months 15 days
Liability for awards to be settled in cash							$ 14,400	7,800
Deferred compensation share-based arrangements, liability, classified							$ 10,400	$ 6,300
Relative total shareholder return, percentage								100%	100%
Risk free interest rate					2.60%			0.30%	1.40%
Expected volatility rate								86%	62%
Weighted average grant date fair value (in dollars per share)							$ 10.21	$ 8.42
Performance Stock Units | Grant Date 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation share-based arrangements, liability, classified							$ 9,900
Share-based payment arrangement, plan modification, incremental cost							17,100
Stock-based compensation expense							$ 7,200
Performance Stock Units | Grant Date 2020 | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares settled						100%
Percentage of shares settled in cash						100%
Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Relative total shareholder return, percentage							0%
Expected volatility rate					40.10%
Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Relative total shareholder return, percentage							200%
Expected volatility rate					114.10%
Performance Stock Units | 2014 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			1,099,800	1,043,800	669,550
Stock-based compensation expense							$ 29,400	$ 15,800	$ 4,600
Compensation not yet recognized, share-based awards other than options							$ 16,100
Weighted average grant date fair value (in dollars per share)					$ 9.30			$ 10.85	$ 5.36
Performance Stock Units | 2014 Long Term Incentive Plan | Grant Date 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		472,485
Risk free interest rate							1.40%
Expected volatility rate							86%
Weighted average grant date fair value (in dollars per share)							$ 19.42
2019 Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested (in shares)	608,125
Cash paid to settle awards	$ 8,100

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Unvested RSU Award Activity (Details) - Restricted Stock Units	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Unvested at beginning period (in shares) | shares	771,817
Granted (in shares) | shares	780,765
Forfeited (in shares) | shares	(16,934)
Vested (in shares) | shares	(665,670)
Unvested at end period (in shares) | shares	869,978
Weighted-Average Grant Date Fair Value
Unvested at beginning of period, weighted-average grant date fair value (in dollars per share) | $ / shares	$ 5.91
Granted, weighted-average grant date fair value (in dollars per share) | $ / shares	13.65
Forfeited, weighted-average grant date fair value (in dollars per share) | $ / shares	8.17
Vested, weighted-average grant date fair value (in dollars per share) | $ / shares	7.75
Unvested at end of period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 11.40

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Unvested PSU Award Activity (Details) - Performance Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Unvested at beginning period (in shares)	2,751,725
Shares granted (in shares)	472,485
Shares Vested (in shares)	(608,125)		0
Unvested at end period (in shares)	2,616,085	2,751,725
Weighted-Average Grant Date Fair Value
Unvested at beginning of period, weighted-average grant date fair value (in dollars per share)	$ 8.42
Granted, weighted-average grant date fair value (in dollars per share)	19.42	$ 10.85	$ 5.36
Vested, weighted-average grant date fair value (in dollars per share)	9.30
Unvested at end of period, Weighted-Average Grant Date Fair Value (in dollars per share)	$ 10.21	$ 8.42

Stock-Based Compensation - TSR

Stock-Based Compensation - TSR Multiplier (Details) - Performance Stock Units	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Minimum | Range One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range one	23.90%	20.50%	23.90%
Minimum | Range Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range one	14.50%	14.50%	14.50%
Minimum | Range Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range one	8.40%	7.70%	8.40%
Maximum | Range One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
TSR Multiplier	200%	200%	200%
Maximum | Range Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
TSR Multiplier	100%	100%	100%
Maximum | Range Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
TSR Multiplier	50%	50%	50%
Maximum | Range Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range one	8.40%	7.70%	8.40%
TSR Multiplier	0%	0%	0%

Long-Term Debt - Schedule of De

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Apr. 12, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,070,136		$ 320,000
Long-term debt, net	1,053,879		320,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	270,136		320,000
Unamortized debt issuance costs	(15,300)		(6,700)
Accumulated amortization	6,500		3,300
Line of Credit | Term loan
Debt Instrument [Line Items]
Long-term debt, gross	250,000		0
Unamortized debt issuance costs	$ (5,309)		0
8.000% Senior Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage	8%	8%
Long-term debt, gross	$ 550,000		0
Unamortized debt issuance costs	$ (10,948)		$ 0

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)				3 Months Ended	12 Months Ended
	Aug. 10, 2022	Apr. 12, 2022	Nov. 21, 2019	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 29, 2022	Jun. 02, 2022	Jun. 01, 2022	Apr. 14, 2022	Jan. 30, 2022
Debt Instrument [Line Items]
Long-term debt				$ 1,053,879,000	$ 1,053,879,000	$ 320,000,000
Repayments of lines of credit					(3,145,877,000)	(539,132,000)	$ (191,056,000)
Commitment fees on borrowings					1,700,000	900,000	600,000
Amortization of deferred financing costs					$ 5,529,000	856,000	$ 322,000
Debt instrument, redemption period		180 days
Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed					25%
EEH Credit Agreement
Debt Instrument [Line Items]
Current borrowing base under EEH credit agreement	$ 1,200,000,000					650,000,000			$ 800,000,000		$ 800,000,000	$ 825,000,000
Line of credit facility, maximum borrowing capacity	1,700,000,000							$ 1,850,000,000	$ 1,400,000,000	$ 1,325,000,000	$ 1,325,000,000
Covenant terms, minimum current ratio			1
Covenant terms, maximum leverage ratio			3.5
Long-term debt						$ 320,000,000
Additional borrowing base available under credit agreement				679,900,000	$ 679,900,000
Amount of borrowings				3,100,000,000	3,100,000,000
Repayments of lines of credit					$ (3,100,000,000)
Averaged interest rate on outstanding debt					4.74%	3.40%	2.83%
Amortization of deferred financing costs					$ 3,200,000	$ 900,000	$ 300,000
Capitalized costs associated with borrowings						2,800,000	0
EEH Credit Agreement | Minimum
Debt Instrument [Line Items]
Applicable margin percentage			1.25%
Commitment fee percentage			0.375%
EEH Credit Agreement | Maximum
Debt Instrument [Line Items]
Applicable margin percentage			2.25%
Commitment fee percentage			0.50%
EEH Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin percentage			1%
EEH Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Applicable margin percentage			2.25%
EEH Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Applicable margin percentage			3.25%
EEH Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Applicable margin percentage			0.50%
EEH Credit Agreement | Term Loan
Debt Instrument [Line Items]
Current borrowing base under EEH credit agreement	$ 250,000,000
Long-term debt				$ 250,000,000	$ 250,000,000
Long-term debt, percentage bearing annual interest rate				7.67%	7.67%
Amortization of deferred financing costs				$ 500,000
Capitalized costs associated with borrowings					$ 5,800,000
EEH Credit Agreement | Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin percentage	3.25%
Increase in interest rate on outstanding borrowings	0.25%
EEH Credit Agreement | Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Applicable margin percentage			2.25%
EEH Credit Agreement | Term Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Applicable margin percentage			3.25%
EEH Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing base under EEH credit agreement	$ 950,000,000
Long-term debt				$ 270,100,000	$ 270,100,000
Long-term debt, percentage bearing annual interest rate				7.238%	7.238%
Averaged interest rate on outstanding debt					6.67%
Capitalized costs associated with borrowings					$ 6,500,000
8.000% Senior Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Capitalized costs associated with borrowings					$ 12,700,000	$ 0	$ 0
Interest rate, stated percentage		8%		8%	8%
Debt instrument, face amount		$ 550,000,000
Proceeds from debt, net of issuance costs		$ 537,200,000
Interest payable				$ 9,500,000	$ 9,500,000
8.000% Senior Notes Due 2027 | Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed		100%
8.000% Senior Notes Due 2027 | Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed		35%
Debt instrument, redemption price, percentage		108%
Debt instrument, redemption price, percentage of principal amount outstanding		65%

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning asset retirement obligations	$ 15,866	$ 3,027
Associated with acquisitions	20,078	9,821
Liabilities incurred	533	163
Property dispositions	(10,284)	(41)
Liabilities settled	(910)	(185)
Accretion expense	2,652	1,065	$ 307
Revision of estimates	2,625	2,016
Ending asset retirement obligations	$ 30,560	$ 15,866	$ 3,027

Related Party Transactions (Det

Related Party Transactions (Details)

2 Months Ended

3 Months Ended

12 Months Ended

Oct. 11, 2022 USD ($) $ / shares shares

Oct. 10, 2022

Apr. 14, 2022 USD ($) shares

Feb. 15, 2022 USD ($) shares

Jan. 30, 2022 USD ($) $ / shares shares

Jul. 20, 2021 USD ($) shares

Feb. 12, 2020 USD ($)

Jun. 30, 2021 USD ($) seller

Dec. 31, 2022

Jun. 30, 2021 USD ($) seller

Dec. 31, 2022 USD ($) shareholder

Jul. 06, 2022 shares

Mar. 31, 2022 USD ($)

Related Party Transaction [Line Items]

Number of significant shareholders | shareholder

3

Proceeds form sale of oil and gas leases

$ 400,000

Asset acquisition, contingent consideration, liability, current

$ 70,000,000

Payments of stock issuance costs

$ 500,000

$ 674,000

Shares repurchased

$ 43,740,000

Shares repurchased (in dollars per share) | $ / shares

$ 14.58

Securities Purchase Agreement

Related Party Transaction [Line Items]

Consideration received on sale of stock

$ 279,300,000

$ 280,000,000

Eagle Ford Acquisitions

Related Party Transaction [Line Items]

Total consideration transferred

$ 45,200,000

$ 45,200,000

Business combination, number of separate sellers | seller

4

4

Eagle Ford, Seller One

Related Party Transaction [Line Items]

Total consideration transferred

$ 8,200,000

Class A Common Stock

Related Party Transaction [Line Items]

Convertible preferred stock, shares issued upon conversion (in shares) | shares

25,225,225

Shares repurchased (in shares) | shares

3,000,000

Class A Common Stock | Securities Purchase Agreement

Related Party Transaction [Line Items]

Sale of stock, price per share (in dollars per share) | $ / shares

$ 11.10

Class A Common Stock | Warburg Pincus LLC | Earthstone Energy, Inc.

Related Party Transaction [Line Items]

Sale of stock (in shares) | shares

3,750,000

Sale of stock, price per share (in dollars per share) | $ / shares

$ 14.58

Percentage of ownership before transaction

18.70%

Sale of stock, percentage of ownership after transaction

12.30%

Series A Convertible Preferred Stock | Securities Purchase Agreement

Related Party Transaction [Line Items]

Sale of stock (in shares) | shares

280,000

280,000

Sale of stock, price per share (in dollars per share) | $ / shares

$ 1,000

Series A Convertible Preferred Stock | EnCap And Affiliates | Securities Purchase Agreement

Related Party Transaction [Line Items]

Sale of stock (in shares) | shares

220,000

Series A Convertible Preferred Stock | Post Oak And Affiliates | Securities Purchase Agreement

Related Party Transaction [Line Items]

Sale of stock (in shares) | shares

60,000

Common Class A and Common Class B | Warburg Pincus LLC | Earthstone Energy, Inc.

Related Party Transaction [Line Items]

Percentage of ownership before transaction

14.10%

Sale of stock, percentage of ownership after transaction

9.30%

Tracker Acquisition

Related Party Transaction [Line Items]

Cash consideration

$ 18,800,000

Shares of Earthstone class A common stock issued (in shares) | shares

4,700,000

Tracker Acquisition | Significant Shareholder

Related Party Transaction [Line Items]

Asset acquisition, percentage of voting interest acquired

49%

Tracker Acquisition | Class A Common Stock

Related Party Transaction [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

4,700,000

Tracker And Sequel Acquisitions

Related Party Transaction [Line Items]

Cash consideration

$ 60,159,000

Tracker And Sequel Acquisitions | Class A Common Stock

Related Party Transaction [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

6,200,000

Chisholm Acquisition

Related Party Transaction [Line Items]

Asset acquisition, percentage of voting interest acquired

36%

Cash consideration

$ 383,976,000

Asset acquisition, ownership percentage before acquisition

25%

Chisholm Acquisition | EEH Credit Agreement

Related Party Transaction [Line Items]

Cash consideration

$ 377,500,000

Chisholm Acquisition | Class A Common Stock

Related Party Transaction [Line Items]

Shares of Earthstone class A common stock issued (in shares) | shares

19,417,476

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Contractual Commitments under Non-cancelable Agreements (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating Leased Assets [Line Items]
2023	$ 1,138
2024	1,160
2025	868
2026	1,052
2027	961
Thereafter	327
Office leases
Operating Leased Assets [Line Items]
2023	1,138
2024	1,160
2025	868
2026	1,052
2027	961
Thereafter	327
Automobile leases
Operating Leased Assets [Line Items]
2023	907
2024	724
2025	200
2026	0
2027	0
Thereafter	0
Non-Cancelable Agreement
Operating Leased Assets [Line Items]
2023	2,045
2024	1,884
2025	1,068
2026	1,052
2027	961
Thereafter	$ 327

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Thousands		12 Months Ended
	Sep. 12, 2022 director	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Loss Contingencies [Line Items]
Lease operating expense | $		$ 230,515	$ 49,321	$ 29,131
Loss contingency, number of directors sued | director	6
Loss contingency, total number of directors | director	10
Texas
Loss Contingencies [Line Items]
Lease operating expense | $		$ 900	$ 800	$ 800

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 0	$ 0	$ 0
State	1,811	625	545
Total current	1,811	625	545
Deferred:
Federal	114,876	901	(147)
State	7,729	333	(510)
Total deferred	122,605	1,234	(657)
Total income tax expense (benefit)	$ 124,416	$ 1,859	$ (112)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate to Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Net income (loss) before income taxes	$ 775,033	$ 63,365	$ (29,546)
Statutory rate	21%	21%	21%
Tax expense (benefit) computed at statutory rate	$ 162,757	$ 13,307	$ (6,204)
Noncontrolling interest	(41,743)	(5,613)	3,349
Non-deductible general and administrative expenses	1,360	(455)	1,943
Return to accrual and other true-up	(73)	0	157
State income taxes, net of Federal benefit	9,187	958	35
Valuation allowance	(7,072)	(6,338)	608
Total income tax expense (benefit)	$ 124,416	$ 1,859	$ (112)
Effective tax rate	16.10%	2.90%	0.40%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 15, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Income tax expense (benefit)		$ 124,416	$ 1,859	$ (112)
Deferred income tax expense (benefit)		122,605	1,234	(657)
Valuation allowance		3,760	10,832
Current income tax expense		1,811	625	$ 545
Net deferred noncurrent tax assets		(134,600)	7,800
Deferred tax liabilities		138,336	15,731
Class A Common Stock
Income Tax Disclosure [Line Items]
EEH Units issued in connect with Acquisition (in shares)				0
Texas Margin Tax
Income Tax Disclosure [Line Items]
Deferred tax liabilities		6,100	5,300
U.S.
Income Tax Disclosure [Line Items]
Operating loss carryforward, net		29,100
Operating loss carryforward, not subject to expiration		120,100
U.S. | Tax Year 2022, Return One
Income Tax Disclosure [Line Items]
Deferred tax assets			19,700
Deferred tax liabilities		113,700
U.S. | Tax Year 2022, Return Two
Income Tax Disclosure [Line Items]
Deferred tax liabilities		18,500	10,400
Canada
Income Tax Disclosure [Line Items]
Deferred tax assets		3,800	3,800
Chisholm Acquisition | Class A Common Stock
Income Tax Disclosure [Line Items]
EEH Units issued in connect with Acquisition (in shares)	19,417,476
Lynden U S A Inc
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		7,100	900	$ (150)
Lynden U S A Inc | U.S.
Income Tax Disclosure [Line Items]
Operating loss carryforward, net		3,700
Operating loss carryforward, not subject to expiration		22,400
Lynden U S A Inc | Canada
Income Tax Disclosure [Line Items]
Operating loss carryforward, net		10,000
Earthstone Energy Holdings, LLC
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		114,900	6,300	(610)
Valuation allowance		7,100
Earthstone Energy Holdings, LLC | Texas Margin Tax
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		800	$ 330	$ (510)
Earthstone Energy Holdings, LLC | New Mexico
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		6,900
Earthstone Energy, Inc.
Income Tax Disclosure [Line Items]
Deferred income tax expense (benefit)		$ 107,800

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred noncurrent income tax assets (liabilities):
Oil & gas properties	$ 11,437	$ 20,909
Basis difference in subsidiary obligation	(2,364)	(2,211)
Investment in Partnerships	(186,925)	(40,141)
Federal net operating loss carryforward	40,695	16,544
Interest limitation	2,581	0
Net deferred noncurrent tax (liability) asset	(134,576)
Net deferred noncurrent tax (liability) asset		(4,899)
Valuation allowance	(3,760)	(10,832)
Net deferred tax liability	$ (138,336)	$ (15,731)

Defined Contribution Plan (Deta

Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum annual contributions per employee, percent	100%
Defined contribution plan, employer contribution amount	$ 1.1	$ 0.5	$ 0.5
Maximum
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of match	6%

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) option	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal terms | option	1
Short-term lease cost | $	$ 23.9	$ 6.4	$ 2.9
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	3 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets and Liabilities, Lessee [Abstract]
Operating lease right-of-use assets	$ 4,569	$ 1,795
Finance lease right-of-use assets	1,678	0
Total lease assets	6,247	1,795
Operating Lease, Liability [Abstract]
Operating lease liability, current	842	681
Operating lease liability, noncurrent	3,889	1,276
Finance Lease Liability [Abstract]
Finance lease liability, current	802	0
Finance lease liability, noncurrent	876	0
Total lease liabilities	$ 6,409	$ 1,957
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Office and other equipment, net of accumulated depreciation of $5,273 and $4,547 at December 31, 2022 and 2021, respectively	Office and other equipment, net of accumulated depreciation of $5,273 and $4,547 at December 31, 2022 and 2021, respectively

Leases - Consolidated Statement

Leases - Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 230,515	$ 49,321	$ 29,131
Total lease expense	1,533	879	1,016
General and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease expense	884	803	786
Depreciation, depletion and amortization
Lessee, Lease, Description [Line Items]
Amortization of right-of-use assets	549	74	217
Interest expense, net
Lessee, Lease, Description [Line Items]
Interest on lease liability	$ 100	$ 2	$ 13

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating
2023	$ 1,138
2024	1,160
2025	868
2026	1,052
2027	961
Thereafter	327
Total lease payments	5,506
Less imputed interest	(775)
Total lease liability	4,731
Finance
2023	907
2024	724
2025	200
2026	0
2027	0
Thereafter	0
Total lease payments	1,831
Less imputed interest	(153)
Total lease liability	$ 1,678

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease, weighted average lease term	4 years 1 month 6 days	2 years 10 months 24 days
Operating lease, weighted average discount rate	6.67%	4.35%
Finance lease, weighted average lease term	2 years 3 months 18 days
Finance lease, weighted average discount rate	8%

Leases - Quantitative Lease Inf

Leases - Quantitative Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Cash payments for operating leases	$ 857	$ 778
Cash payments for finance leases	649	70
Right-of-use assets obtained in exchange for new operating lease liabilities	3,447	0
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 2,227	$ 0

Supplemental Disclosures - Acco

Supplemental Disclosures - Accounts Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Accounts payable related to vendors	$ 76,044	$ 22,877
Accounts payable related to severance taxes	10,380	2,603
Other	5,391	5,917
Total accounts payable	$ 91,815	$ 31,397

Supplemental Disclosures - Reve

Supplemental Disclosures - Revenue and Royalties Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Revenue held in suspense	$ 101,838	$ 14,777
Revenue and royalties payable	61,530	21,412
Total revenue and royalties payable	$ 163,368	$ 36,189

Supplemental Disclosures - Accr

Supplemental Disclosures - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Accrued capital expenditures	$ 38,482	$ 10,563
Accrued lease operating expenses	14,173	2,858
Accrued interest	10,995	648
Accrued general and administrative expense	7,351	8,011
Accrued ad valorem taxes	4,243	544
Other	5,698	9,080
Total accrued expenses	$ 80,942	$ 31,704

Supplemental Disclosures (Detai

Supplemental Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Acquisition [Line Items]
Interest	$ 12,520	$ 9,648	$ 4,588
Income taxes	625	325	0
Accrued capital expenditures	58,569	23,558	7,328
Lease asset additions - ASC 842	5,674	0	0
Asset retirement obligations	3,158	2,178	762
Titus Acquisition
Asset Acquisition [Line Items]
Class A Common Stock issued in Acquisition	53,574	0	0
IRM Acquisition
Asset Acquisition [Line Items]
Class A Common Stock issued in Acquisition	0	76,572	0
Chisholm Acquisition
Asset Acquisition [Line Items]
Class A Common Stock issued in Acquisition	249,515	0	0
Bighorn Acquisition
Asset Acquisition [Line Items]
Class A Common Stock issued in Acquisition	77,757	0	0
Tracker/Sequel Acquisition
Asset Acquisition [Line Items]
Class A Common Stock issued in Acquisition	0	61,814	0
Foreland Acquisition
Asset Acquisition [Line Items]
Class A Common Stock issued in Acquisition	$ 0	$ 28,121	$ 0

Supplemental Information On O_3

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Costs Incurred Related to Oil and Gas Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquisition cost:
Proved	$ 1,934,602	$ 465,144	$ 0
Unproved	77,378	43	0
Exploration costs:
Geological and geophysical	2,492	341	298
Development costs	538,114	134,035	67,550
Total additions	$ 2,552,586	$ 599,563	$ 67,848

Supplemental Information On O_4

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Narrative (Details) MMBTU in Thousands, MBoe in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 MMBTU	Dec. 31, 2022 USD ($) MMBTU	Dec. 31, 2022 MMBTU $ / bbl	Dec. 31, 2022 MMBTU $ / MMBTU	Dec. 31, 2022 MMBTU Boe	Dec. 31, 2022 MMBTU MBoe	Dec. 31, 2021 MMBTU	Dec. 31, 2021 USD ($) MMBTU	Dec. 31, 2021 MMBTU $ / bbl	Dec. 31, 2021 MMBTU $ / MMBTU	Dec. 31, 2021 MMBTU Boe	Dec. 31, 2021 MMBTU MBoe	Dec. 31, 2020 MMBTU	Dec. 31, 2020 USD ($) MMBTU	Dec. 31, 2020 MMBTU $ / bbl	Dec. 31, 2020 MMBTU $ / MMBTU	Dec. 31, 2020 MMBTU Boe	Dec. 31, 2020 MMBTU MBoe
Reserve Quantities [Line Items]
Additions to oil and gas properties | $		$ 2,552,586						$ 599,563						$ 67,848
Natural gas liquids prices used to value reserves | $ / bbl			39.24						30.16						11.61
Oil prices used to value reserves (in dollars per barrel) | $ / bbl			95.82
Natural gas prices used to value reserves (in dollars per MMBtu) | $ / MMBTU				5.51
Natural gas liquids prices used to value reserves (in dollars per barrel) | $ / bbl			39.24
Extensions					29,883,000						21,856,000						860,000
Purchases of minerals in place					57,432,000	57,400						11,577
Revision to previous estimates					10,450,000						(4,054,000)						(10,691,000)
Positive revision					300,000	6,500					1,700,000	10,600
Changes in reserve due to performance and other economic factors						4,000					9,200,000							3,900
Other economic factors											5,500,000
Reclassifications					2,400,000						9,200,000						11,900,000	11,900
Revisions due to change in price																	2,700,000
Conversion period of proved undeveloped reserves into proved developed producing reserves	5 years						5 years						5 years
Estimated capital expenditures of proved undeveloped reserves | $		190,200						41,100						111,100
Estimated proved undeveloped reserves, conversions to developed, gross					45,000,000						13,000,000						28,000,000
Estimated proved undeveloped reserves, conversions to developed, net					31,800,000						10,500,000						17,600,000
Estimated conversion of proved undeveloped reserves into proved developed producing reserves					24,500,000						6,700,000						11,300,000
Capital expenditures of proved undeveloped reserves | $		$ 191,200						$ 55,100						$ 67,800
Modified proved undeveloped reserves, conversions to developed, gross					42,000,000						16,000,000						18,000,000
Modified proved undeveloped reserves, conversions to developed, net					26,600,000						13,100,000						10,300,000
Proved undeveloped reserves conversions to developed					(22,637,000)						(8,274,000)						(8,200,000)
Proved developed and undeveloped reserve, extension energy					16,500,000
Purchases of minerals in place					213,113,000	213,100						59,973
Revision to previous estimates					2,091,000						10,389,000						14,038,000
Changes in price offset by revisions											2,900,000
Modified conversion of proved undeveloped reserves into proved developed producing reserves											8,300,000						8,200,000
Development plan													5 years
Remaining revisions of proved undeveloped previous estimate energy																	2,100,000
Non-Cancelable Agreement
Reserve Quantities [Line Items]
Holding pipeline capacity | MMBTU	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10	10
West Texas Intermediate Spot Price
Reserve Quantities [Line Items]
Unweighted average of first of the month prices of oil | $ / bbl			93.67						66.56						39.57
Henry Hub Spot Price
Reserve Quantities [Line Items]
Unweighted average of first of the month prices of natural gas | $ / MMBTU				6.36						3.60						1.99
New Wells
Reserve Quantities [Line Items]
Additions to oil and gas properties | $		$ 3,200						$ 2,200						$ 800
Operated Eagle Ford and Non-operated Bakken Properties
Reserve Quantities [Line Items]
Extensions					29,900,000						21,900,000						860,000

Supplemental Information On O_5

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Summary of Capitalized Costs, Impairment, and Depreciation, Depletion and Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Oil and gas properties, successful efforts method:
Accumulated impairment to proved\Unproved properties	$ (168,000)	$ (168,000)
Proved properties, net of accumulated impairments	3,987,901	1,625,367
Unproved properties, net of accumulated impairments	282,589	222,025
Land	5,482	5,382
Total oil and gas properties, net of accumulated impairments	4,275,972	1,852,774
Accumulated depreciation, depletion and amortization	(619,196)	(395,625)
Net oil and gas properties	3,656,776	1,457,149
Proved property
Oil and gas properties, successful efforts method:
Proved properties	4,088,553	1,726,019
Accumulated impairment to proved\Unproved properties	(100,652)	(100,652)
Proved properties, net of accumulated impairments	3,987,901	1,625,367
Unproved property
Oil and gas properties, successful efforts method:
Accumulated impairment to proved\Unproved properties	(67,316)	(67,316)
Unproved properties	349,905	289,341
Unproved properties, net of accumulated impairments	$ 282,589	$ 222,025

Supplemental Information On O_6

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Changes in Quantities of Proved Oil and natural Gas Reserves (Details) bbl in Thousands, MMcf in Thousands, MBoe in Thousands, MBbls in Thousands, Boe in Thousands	12 Months Ended
	Dec. 31, 2022 Boe bbl MMcf	Dec. 31, 2022 Boe MMcf bbl	Dec. 31, 2022 Boe MMcf bbl	Dec. 31, 2022 MBoe Boe MMcf bbl	Dec. 31, 2021 Boe MBoe bbl MMcf MBbls	Dec. 31, 2020 Boe bbl MMcf	Dec. 31, 2019 Boe bbl MMcf
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning balance | Boe			147,587		78,875	94,336
Extensions | Boe			29,883		21,856	860
Sales of minerals in place			(4,566)		(8)
Purchases of minerals in place			213,113	213,100	59,973
Production | Boe			(28,531)		(9,055)	(5,630)
Revision to previous estimates | Boe			10,450		(4,054)	(10,691)
Ending Balance | Boe			367,936		147,587	78,875
Proved developed reserves: | Boe	264,721	264,721	264,721	264,721	93,575	38,298	31,521
Proved undeveloped reserves: | Boe	103,215	103,215	103,215	103,215	54,012	40,577	62,815
Oil (MBbl)
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning balance	61,075				40,090	52,650
Extensions	13,430				7,016	420
Sales of minerals in place	(2,044)				(8)
Purchases of minerals in place	85,237				25,114
Production	(11,866)				(4,381)	(3,180)
Revision to previous estimates	(7,432)				(6,756)	(9,800)
Ending balance	138,400				61,075	40,090
Proved developed reserves:	88,759	88,759	88,759	88,759	35,824	18,878	18,220
Proved undeveloped reserves:	49,641	49,641	49,641	49,641	25,251	21,212	34,430
Natural Gas (MMcf)
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning balance | MMcf		284,881			111,215	107,990
Extensions | MMcf		51,346			49,846	1,258
Sales of minerals in place | MMcf		(6,631)			(1)
Purchases of minerals in place | MMcf		429,646			106,539
Production | MMcf		(54,392)			(14,505)	(7,282)
Revision to previous estimates | MMcf		37,316			31,787	9,249
Ending Balance | MMcf		742,166			284,881	111,215
Proved developed reserves: | MMcf	574,762	574,762	574,762	574,762	190,999	55,764	35,120
Proved undeveloped reserves: | MMcf	167,404	167,404	167,404	167,404	93,882	55,450	72,870
Natural Gas Liquids (MBbl)
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning balance	39,031				20,249	23,688
Extensions	7,895				6,532	230
Sales of minerals in place	(1,417)				0
Purchases of minerals in place	56,268				17,103
Production	(7,599)				(2,257)	(1,237)
Revision to previous estimates	11,663				(2,596)	(2,432)
Ending balance	105,841				39,031	20,249
Proved developed reserves:	80,168	80,168	80,168	80,168	25,917	10,125	7,447
Proved undeveloped reserves:	25,673	25,673	25,673	25,673	13,114	10,123	16,241

Supplemental Information On O_7

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Changes in Quantities of Proved Oil and natural Gas and NGL Reserves Attributable to Noncontrolling Interests (Details) bbl in Thousands, MMcf in Thousands, Boe in Thousands	Dec. 31, 2022 Boe MMcf bbl	Dec. 31, 2021 Boe bbl MMcf	Dec. 31, 2020 Boe bbl MMcf
Reserve Quantities [Line Items]
Proved developed | Boe	64,870	36,598	20,516
Proved undeveloped | Boe	25,293	21,125	21,737
Total proved | Boe	90,163	57,723	42,253
Oil (MBbl)
Reserve Quantities [Line Items]
Proved developed reserves, net attributable to noncontrolling interest, volume	21,750	14,011	10,113
Proved undeveloped reserves, net attributable to noncontrolling interest, volume	12,165	9,876	11,363
Proved developed and undeveloped reserves, net attributable to noncontrolling interest, volume	33,915	23,887	21,476
Natural Gas (MMcf)
Reserve Quantities [Line Items]
Proved developed reserves, net attributable to noncontrolling interest, gas | MMcf	140,845	74,702	29,873
Proved undeveloped reserves, net attributable to noncontrolling interest, gas | MMcf	41,022	36,719	29,704
Proved developed and undeveloped reserves, net attributable to noncontrolling interest, gas | MMcf	181,867	111,421	59,577
Natural Gas Liquids (MBbl)
Reserve Quantities [Line Items]
Proved developed reserves, net attributable to noncontrolling interest, volume	19,645	10,137	5,424
Proved undeveloped reserves, net attributable to noncontrolling interest, volume	6,291	5,129	5,423
Proved developed and undeveloped reserves, net attributable to noncontrolling interest, volume	25,936	15,266	10,847

Supplemental Information On O_8

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Schedule of Changes in Proved Undeveloped Reserves (Details) MBoe in Thousands, Boe in Thousands	12 Months Ended
	Dec. 31, 2022 Boe	Dec. 31, 2022 Boe MBoe	Dec. 31, 2021 Boe MBoe	Dec. 31, 2020 Boe	Dec. 31, 2019 Boe
Extractive Industries [Abstract]
Proved undeveloped reserves, Beginning Balance	54,012		40,577	62,815
Conversions to developed	(22,637)		(8,274)	(8,200)
Extensions	16,499		20,521	0
Purchases of minerals in place	57,432	57,400	11,577
Revision to previous estimates	(2,091)		(10,389)	(14,038)
Proved undeveloped reserves, Ending Balance	103,215		54,012	40,577
Proved undeveloped reserve attributable to noncontrolling interests	25,293	25,293	21,125	21,737	34,243

Supplemental Information On O_9

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Schedule Of Standardized Measure (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Extractive Industries [Abstract]
Future cash inflows	$ 21,506,026	$ 6,042,508	$ 1,902,073
Future production costs	(6,362,901)	(1,641,130)	(633,248)
Future development costs	(1,207,597)	(470,008)	(285,088)
Future income tax expense	(1,910,370)	(381,663)	(35,557)
Future net cash flows	12,025,158	3,549,707	948,180
10% annual discount for estimated timing of cash flows	(5,300,657)	(1,731,335)	(487,327)
Standardized measure of discounted future net cash flows	6,724,501	1,818,372	460,853	$ 789,577
Standardized measure of discounted future net cash flows attributable to noncontrolling interests	$ 1,600,000	$ 711,200	$ 246,900

Supplemental Information On _10

Supplemental Information On Oil And Gas Exploration And Production Activities (Unaudited) - Changes In Standardized Measure Of Discontinued Future Net Cash Flows Relating To Proved Oil And Natural Gas Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Extractive Industries [Abstract]
Standardized measure, beginning of year	$ 1,818,372	$ 460,853	$ 789,577
Sales of oil and gas produced, net of production costs	(1,341,586)	(343,914)	(105,555)
Sales of minerals in place	(76,570)	14	14
Net changes in prices and production costs	3,838,439	1,346,851	(381,769)
Extensions and improved recoveries	1,178,521	216,583	14,644
Changes in income taxes, net	(866,805)	(185,757)	17,826
Previously estimated development costs incurred during the period	246,705	41,120	66,788
Net changes in future development costs	(295,553)	(104,223)	258,741
Purchases of minerals in place	2,011,980	465,187	0
Revisions of previous quantity estimates	3,283	(151,748)	(273,781)
Accretion of discount	345,642	76,121	81,999
Changes in timing of estimated cash flows and other	(137,927)	(2,715)	(7,631)
Standardized measure, end of year	6,724,501	1,818,372	460,853
Standardized measure of discounted future net cash flows attributable to noncontrolling interests	$ 1,600,000	$ 711,200	$ 246,900