Earthstone Energy (ESTE) 10-Q 4 Nov 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 29, 2020
Document Information [Line Items]
Entity Central Index Key	0000010254
Entity Registrant Name	EARTHSTONE ENERGY INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-35049
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-0592823
Entity Address, Address Line One	1400 Woodloch Forest Drive, 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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		35,009,371
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		30,210,749

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 5,311	$ 13,822
Accounts receivable:
Oil, natural gas, and natural gas liquids revenues	12,097	29,047
Joint interest billings and other, net of allowance of $80 and $83 at September 30, 2020 and December 31, 2019, respectively	11,548	6,672
Derivative asset	25,097	8,860
Prepaid expenses and other current assets	1,560	1,867
Total current assets	55,613	60,268
Oil and gas properties, successful efforts method:
Proved properties	995,666	970,808
Unproved properties	236,482	260,271
Land	5,382	5,382
Total oil and gas properties	1,237,530	1,236,461
Accumulated depreciation, depletion and amortization	(271,012)	(195,567)
Net oil and gas properties	966,518	1,040,894
Other noncurrent assets:
Goodwill	0	17,620
Office and other equipment, net of accumulated depreciation and amortization of $3,558 and $3,180 at September 30, 2020 and December 31, 2019, respectively	1,044	1,311
Derivative asset	4,727	770
Operating lease right-of-use assets	2,769	3,108
Other noncurrent assets	1,331	1,572
TOTAL ASSETS	1,032,002	1,125,543
Current liabilities:
Accounts payable	6,910	25,284
Revenues and royalties payable	28,047	35,815
Accrued expenses	12,844	19,538
Asset retirement obligation	308	308
Derivative liability	1,040	6,889
Advances	93	11,505
Operating lease liabilities	768	570
Finance lease liabilities	96	206
Other current liabilities	11	43
Total current liabilities	50,117	100,158
Noncurrent liabilities:
Long-term debt	130,000	170,000
Deferred tax liability	15,294	15,154
Asset retirement obligation	2,027	1,856
Derivative liability	577	0
Operating lease liabilities	2,001	2,539
Finance lease liabilities	15	85
Other noncurrent liabilities	138	0
Total noncurrent liabilities	150,052	189,634
Commitments and Contingencies (Note 13)
Equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized; none issued or outstanding	0	0
Additional paid-in capital	537,990	527,246
Accumulated deficit	(186,787)	(181,711)
Total Earthstone Energy, Inc. equity	351,268	345,599
Noncontrolling interest	480,565	490,152
Total equity	831,833	835,751
TOTAL LIABILITIES AND EQUITY	1,032,002	1,125,543
Common Class A [Member]
Equity:
Class A Common Stock, $0.001 par value, 200,000,000 shares authorized; 30,210,749 and 29,421,131 issued and outstanding at September 30, 2020 and December 31, 2019, respectively	30	29
Common Class B [Member]
Equity:
Class A Common Stock, $0.001 par value, 200,000,000 shares authorized; 30,210,749 and 29,421,131 issued and outstanding at September 30, 2020 and December 31, 2019, respectively	$ 35	$ 35

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Joint interest billings and other, allowance	$ 80,000	$ 83,000
Office and other equipment, accumulated depreciation	$ 3,558	$ 3,180
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 Class A [Member]
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)	30,210,749	29,421,131
Common stock, shares outstanding (in shares)	30,210,749	29,421,131
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	35,009,371	35,260,680
Common stock, shares outstanding (in shares)	35,009,371	35,260,680

Condensed Consolidated Statemen

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

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]Common Class A [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]Common Class B [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Common Class B [Member]	Total
Balance (in shares) at Dec. 31, 2018								28,696,321	35,452,178
Balance at Dec. 31, 2018	$ 0	$ 0	$ 0	$ 67	$ 67	$ 99	$ 166	$ 29	$ 35	$ 517,073	$ (182,497)	$ 334,640	$ 491,852		$ 826,492
Stock-based compensation expense								$ 0	$ 0	2,212	0	2,212	0		2,212
Vesting of restricted stock units, net of taxes paid (in shares)								166,140	0
Vesting of restricted stock units, net of taxes paid								$ 0	$ 0	0	0	0	0		0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)								59,261	0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings								$ 0	$ 0	(396)	0	(396)	0		(396)
Cancellation of treasury shares (in shares)								(59,261)	0
Net income (loss)								$ 0	$ 0	0	(17,204)	(17,204)	(21,239)		(38,443)
Balance (in shares) at Mar. 31, 2019								28,862,461	35,452,178
Balance at Mar. 31, 2019								$ 29	$ 35	518,889	(199,634)	319,319	470,712		790,031
Balance (in shares) at Dec. 31, 2018								28,696,321	35,452,178
Balance at Dec. 31, 2018	$ 0	$ 0	$ 0	$ 67	$ 67	$ 99	$ 166	$ 29	$ 35	517,073	(182,497)	334,640	491,852		826,492
Class B Common Stock converted to Class A Common Stock (in shares)														35,732
Net income (loss)															7,220
Balance (in shares) at Sep. 30, 2019								29,150,220	35,416,446
Balance at Sep. 30, 2019								$ 29	$ 35	523,402	(179,087)	344,379	495,352		839,731
Balance (in shares) at Mar. 31, 2019								28,862,461	35,452,178
Balance at Mar. 31, 2019								$ 29	$ 35	518,889	(199,634)	319,319	470,712		790,031
Stock-based compensation expense								$ 0	$ 0	2,261	0	2,261			2,261
Vesting of restricted stock units, net of taxes paid (in shares)								133,311	0
Vesting of restricted stock units, net of taxes paid								$ 0	$ 0	0	0	0	0		0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)								43,344	0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings								$ 0	$ 0	(265)	0	(265)	0		(265)
Cancellation of treasury shares (in shares)								(43,344)	0
Class B Common Stock converted to Class A Common Stock (in shares)								35,732
Conversion of Stock, Shares Converted (in shares)									(35,732)
Class B Common Stock converted to Class A Common Stock								$ 0	$ 0	476	0	476			0
Class B Common Stock converted to Class A Common Stock													(476)
Net income (loss)								$ 0	$ 0	0	8,777	8,777	10,759		19,536
Balance (in shares) at Jun. 30, 2019								29,031,504	35,416,446
Balance at Jun. 30, 2019								$ 29	$ 35	521,361	(190,857)	330,568	480,995		811,563
Stock-based compensation expense								$ 0	$ 0	2,207	0	2,207			2,207
Vesting of restricted stock units, net of taxes paid (in shares)								118,716	0
Vesting of restricted stock units, net of taxes paid								$ 0	$ 0	0	0	0	0		0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)								49,111	0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings								$ 0	$ 0	(166)	0	(166)	0		(166)
Cancellation of treasury shares (in shares)								(49,111)	0
Class B Common Stock converted to Class A Common Stock (in shares)								0						35,732
Conversion of Stock, Shares Converted (in shares)									0
Class B Common Stock converted to Class A Common Stock								$ 0	$ 0	0	0	0			0
Class B Common Stock converted to Class A Common Stock													0
Net income (loss)								$ 0	$ 0	0	11,770	11,770	14,357		26,127
Balance (in shares) at Sep. 30, 2019								29,150,220	35,416,446
Balance at Sep. 30, 2019								$ 29	$ 35	523,402	(179,087)	344,379	495,352		839,731
Balance (in shares) at Dec. 31, 2019								29,421,131	35,260,680
Balance at Dec. 31, 2019								$ 29	$ 35	527,246	(181,711)	345,599	490,152		835,751
Stock-based compensation expense								$ 0	$ 0	2,694	0	2,694			2,694
Vesting of restricted stock units, net of taxes paid (in shares)								231,834	0
Vesting of restricted stock units, net of taxes paid								$ 1	$ 0	0	0	1	0		1
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)								75,695	0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings								$ 0	$ 0	(214)	0	(214)	0		(214)
Cancellation of treasury shares (in shares)								(75,695)	0
Class B Common Stock converted to Class A Common Stock (in shares)								199,993
Conversion of Stock, Shares Converted (in shares)									(199,993)
Class B Common Stock converted to Class A Common Stock								$ 0	$ 0	2,897	0	2,897			0
Class B Common Stock converted to Class A Common Stock													(2,897)
Net income (loss)								$ 0	$ 0	0	16,708	16,708	20,006		36,714
Balance (in shares) at Mar. 31, 2020								29,852,958	35,060,687
Balance at Mar. 31, 2020								$ 30	$ 35	532,623	(165,003)	367,685	507,261		874,946
Balance (in shares) at Dec. 31, 2019								29,421,131	35,260,680
Balance at Dec. 31, 2019								$ 29	$ 35	527,246	(181,711)	345,599	490,152		835,751
Class B Common Stock converted to Class A Common Stock (in shares)														251,309
Net income (loss)															(11,053)
Balance (in shares) at Sep. 30, 2020								30,210,749	35,009,371
Balance at Sep. 30, 2020								$ 30	$ 35	537,990	(186,787)	351,268	480,565		831,833
Balance (in shares) at Mar. 31, 2020								29,852,958	35,060,687
Balance at Mar. 31, 2020								$ 30	$ 35	532,623	(165,003)	367,685	507,261		874,946
Stock-based compensation expense								$ 0	$ 0	2,568	0	2,568	0		2,568
Vesting of restricted stock units, net of taxes paid (in shares)								165,399	0
Vesting of restricted stock units, net of taxes paid								$ 0	$ 0	0	0	0	0		0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)								57,810	0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings								$ 0	$ 0	(170)	0	(170)	0		(170)
Cancellation of treasury shares (in shares)								(57,810)	0
Class B Common Stock converted to Class A Common Stock (in shares)								2,000
Conversion of Stock, Shares Converted (in shares)									(2,000)
Class B Common Stock converted to Class A Common Stock								$ 0	$ 0	28	0	28			0
Class B Common Stock converted to Class A Common Stock													(28)
Net income (loss)								$ 0	$ 0	0	(16,339)	(16,339)	(19,570)		(35,909)
Balance (in shares) at Jun. 30, 2020								30,020,357	35,058,687
Balance at Jun. 30, 2020								$ 30	$ 35	535,049	(181,342)	353,772	487,663		841,435
Stock-based compensation expense								$ 0	$ 0	2,403	0	2,403	0		2,403
Vesting of restricted stock units, net of taxes paid (in shares)								141,076	0
Vesting of restricted stock units, net of taxes paid								$ 0	$ 0	0	0	0	0		0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings (in shares)								54,268	0
Vested restricted stock units retained by the Company in exchange for payment of recipient mandatory tax withholdings								$ 0	$ 0	(147)	0	(147)	0		(147)
Cancellation of treasury shares (in shares)								(54,268)	0
Class B Common Stock converted to Class A Common Stock (in shares)								49,316						49,316
Conversion of Stock, Shares Converted (in shares)									(49,316)
Class B Common Stock converted to Class A Common Stock								$ 0	$ 0	685	0	685			0
Class B Common Stock converted to Class A Common Stock													(685)
Net income (loss)								$ 0	$ 0	0	(5,445)	(5,445)	(6,413)		(11,858)
Balance (in shares) at Sep. 30, 2020								30,210,749	35,009,371
Balance at Sep. 30, 2020								$ 30	$ 35	$ 537,990	$ (186,787)	$ 351,268	$ 480,565		$ 831,833

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (11,858)	$ 26,127	$ (11,053)	$ 7,220
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, depletion and amortization	28,538	14,079	76,096	42,281
Impairment of proved and unproved oil and gas properties		0	44,928	0
Impairment of goodwill	0	0	17,620	0
Accretion of asset retirement obligations	47	52	137	160
Settlement of asset retirement obligations			0	(179)
(Gain) loss on sale of oil and gas properties	0	120	(198)	446
Total (gain) loss on derivative contracts, net	6,040	(18,726)	(73,065)	19,672
Operating portion of net cash received in settlement of derivative contracts			47,599	13,660
Stock-based compensation			7,665	6,680
Deferred income taxes			112	728
Amortization of deferred financing costs	100	100	241	336
Changes in assets and liabilities:
(Increase) decrease in accounts receivable			12,102	(5,585)
(Increase) decrease in prepaid expenses and other current assets			(264)	(28)
Increase (decrease) in accounts payable and accrued expenses			1,976	(8,330)
Increase (decrease) in revenues and royalties payable			(7,768)	(9,042)
Increase (decrease) in advances			(11,412)	17,720
Net cash provided by operating activities			104,716	85,739
Cash flows from investing activities:
Additions to oil and gas properties			(72,869)	(120,685)
Additions to office and other equipment			(111)	(379)
Proceeds from sales of oil and gas properties			409	2
Net cash used in investing activities			(72,571)	(121,062)
Cash flows from financing activities:
Proceeds from borrowings			93,923	165,272
Repayments of borrowings			(133,923)	(119,099)
Cash paid related to the exchange and cancellation of Class A Common Stock			(531)	(827)
Cash paid for finance leases			(125)	(355)
Deferred financing costs			0	(228)
Net cash (used in) provided by financing activities			(40,656)	44,763
Net (decrease) increase in cash			(8,511)	9,440
Cash at beginning of period			13,822	376
Cash at end of period	$ 5,311	$ 9,816	5,311	9,816
Cash paid for:
Interest			3,613	4,235
Non-cash investing and financing activities:
Accrued capital expenditures			2,213	50,615
Lease asset additions - ASC 842			0	4,710
Asset retirement obligations			$ 44	$ 43

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	Note 1. Earthstone Energy, Inc., a Delaware corporation (“Earthstone” and together with its consolidated subsidiaries, the “Company”), is a growth-oriented independent oil and natural gas development and production company. In addition, the Company is active in corporate mergers and the acquisition of oil and natural gas properties that have production and future development opportunities. The Company's operations are all in the upstream segment of the oil and natural gas industry and all its properties are onshore in the United States. Earthstone is the sole managing member of Earthstone Energy Holdings, LLC, a Delaware limited liability company (together with its wholly-owned consolidated subsidiaries, “EEH”), with a controlling interest in EEH. Earthstone, together with its wholly-owned subsidiary, Lynden Energy Corp., a corporation organized under the laws of British Columbia (“Lynden Corp”), and Lynden Corp’s wholly-owned consolidated subsidiary, Lynden USA Inc., a Utah corporation (“Lynden US”) and also a member of EEH, consolidates the financial results of EEH and records a noncontrolling interest in the Condensed Consolidated Financial Statements representing the economic interests of EEH's members other than Earthstone and Lynden US. The accompanying unaudited Condensed Consolidated Financial Statements and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. Pursuant to such rules and regulations, certain disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. The accompanying unaudited Condensed Consolidated Financial Statements and notes should be read in conjunction with the financial statements and notes included in Earthstone’s 2019 10 The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for the fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. The Company’s Condensed Consolidated Balance Sheet at December 31, 2019 Certain prior period amounts have been reclassified to conform to current period presentation within the Condensed Consolidated Financial Statements. Prior period ad valorem taxes which were previously included in Lease operating expenses within the Operating Costs and Expenses section of the Condensed Consolidated Statements of Operations have been reclassified from Lease operating expenses and combined with the previously presented Severance taxes line-item and the combined total presented as Production and ad valorem taxes, also within Operating Costs and Expenses, in order to conform to current period presentation. Additionally, prior period legal expenses related to a previously completed transaction and previously included in General and administrative expense within Operating Costs and Expenses have been reclassified to Transaction costs, also within Operating Costs and Expenses, to conform to current period presentation. These reclassifications had no Recently Issued Accounting Standards Intangibles – Goodwill and Other – January 2017, December 15, 2019 January 1, 2017. January 1, 2020. Note 15. Fair Value Measurements – August 2018, 820. December 15, 2019 January 1, 2020 not Credit Losses June 2016, not December 15, 2019. January 1, 2020 not Income Taxes December 2019, 740. 740 December 15, 2020 Reference Rate Reform March 2020, December 31, 2022. not not

Note 2 - Fair Value Measurement

Note 2 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 2. FASB Accounting Standards Codification (“ASC”) Topic 820, 820 three The three 820 Level 1 Level 2 1, Level 3 3 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 three no no nine September 30, 2020 Fair Value on a Recurring Basis Derivative financial instruments are carried at fair value and measured on a recurring basis. The derivative financial instruments consist of swaps for crude oil and natural gas 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 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 The following table summarizes the fair value of the Company’s financial assets and liabilities, by level within the fair-value hierarchy (in thousands) September 30, 2020 Level 1 Level 2 Level 3 Total Financial assets Derivative asset - current $ — $ 25,097 $ — $ 25,097 Derivative asset - noncurrent — 4,727 — 4,727 Total financial assets $ — $ 29,824 $ — $ 29,824 Financial liabilities Derivative liability - current $ — $ 1,040 $ — $ 1,040 Derivative liability - noncurrent — 577 — 577 Total financial liabilities $ — $ 1,617 $ — $ 1,617 December 31, 2019 Financial assets Derivative asset - current $ — $ 8,860 $ — $ 8,860 Derivative asset - noncurrent — 770 — 770 Total financial assets $ — $ 9,630 $ — $ 9,630 Financial liabilities Derivative liability - current $ — $ 6,889 $ — $ 6,889 Derivative liability - noncurrent — — — — Total financial liabilities $ — $ 6,889 $ — $ 6,889 Other financial instruments include cash, accounts receivable and payable, and revenue royalties. The carrying amount of these instruments approximates fair value because of their short-term nature. The Company’s long-term debt obligation bears interest at floating market rates, therefore carrying amounts and fair value are approximately equal. Fair Value on a Nonrecurring Basis The Company applies the provisions of the fair value measurement standard on a non-recurring basis to its non-financial assets and liabilities, including oil and gas properties, goodwill, business combinations, asset retirement obligations and performance units. These assets and liabilities are not may 19 nine September 30, 2020 Note 4.

Note 3 - Derivative Financial I

Note 3 - Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 3. 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. Swaps exchange floating price risk in the future for a fixed price at the time of the hedge. Consistent with its hedging policy, the Company has entered into a series of derivative instruments to hedge a significant portion of its expected oil and natural gas production through December 31, 2021. not 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 815. may The Company nets its derivative instrument fair value amounts executed with each counterparty pursuant to an International Swap Dealers Association Master Agreement (“ISDA”), which provides for net settlement over the term of the contract. The ISDA is a standard contract that governs all derivative contracts entered into between the Company and the respective counterparty. The ISDA allows for offsetting of amounts payable or receivable between the Company and the counterparty, at the election of both parties, for transactions that occur on the same date and in the same currency. The Company had the following open crude oil and natural gas derivative contracts as of September 30, 2020 Price Swaps Volume Weighted Average Price Period Commodity (Bbls / MMBtu) ($/Bbl / $/MMBtu) Q4 2020 Crude Oil 552,000 $ 60.65 Q1 - Q4 2021 Crude Oil 1,460,000 $ 55.16 Q4 2020 Crude Oil Basis Swap (1) 598,000 $ (1.50 ) Q4 2020 Crude Oil Basis Swap (2) 92,000 $ 2.55 Q4 2020 Crude Oil Roll Swap (3) 552,000 $ (1.79 ) Q1 - Q4 2021 Crude Oil Basis Swap (1) 1,825,000 $ 1.05 Q4 2020 Natural Gas 644,000 $ 2.85 Q1 - Q4 2021 Natural Gas 4,380,000 $ 2.76 Q4 2020 Natural Gas Basis Swap (4) 644,000 $ (1.07 ) Q1 - Q4 2021 Natural Gas Basis Swap (4) 4,380,000 $ (0.45 ) ( 1 The basis differential price is between WTI Midland Crude and the WTI NYMEX. ( 2 The basis differential price is between WTI Houston and the WTI NYMEX. ( 3 The swap is between WTI Roll and the WTI NYMEX. ( 4 The basis differential price is between W. Texas (WAHA) and the Henry Hub NYMEX. 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 The Company had the following interest rate swaps as of September 30, 2020 Effective Dates Notional Amount Fixed Rate May 5, 2020 to May 5, 2022 $ 125,000,000 0.286 % May 5, 2022 to May 5, 2023 $ 100,000,000 0.286 % May 5, 2023 to May 7, 2024 $ 75,000,000 0.286 % The following table summarizes the location and fair value amounts of all derivative instruments in the Condensed Consolidated Balance Sheets as well as the gross recognized derivative assets, liabilities, and amounts offset in the Condensed Consolidated Balance Sheets (in thousands) September 30, 2020 December 31, 2019 Derivatives not Gross Net Gross Net designated as hedging Balance Recognized Gross Recognized Recognized Gross Recognized contracts under ASC Sheet Assets / Amounts Assets / Assets / Amounts Assets / Topic 815 Location Liabilities Offset Liabilities Liabilities Offset Liabilities Commodity contracts Derivative asset - current $ 26,773 $ (1,676 ) $ 25,097 $ 13,321 $ (4,461 ) $ 8,860 Commodity contracts Derivative liability - current $ 2,539 $ (1,676 ) $ 863 $ 11,350 $ (4,461 ) $ 6,889 Interest rate swaps Derivative liability - current $ 177 $ — $ 177 $ — $ — $ — Commodity contracts Derivative asset - noncurrent $ 4,727 $ — $ 4,727 $ 1,031 $ (261 ) $ 770 Commodity contracts Derivative liability - noncurrent $ 355 $ — $ 355 $ 261 $ (261 ) $ — Interest rate swaps Derivative liability - noncurrent $ 222 $ — $ 222 $ — $ — $ — The following table summarizes the location and amounts of the Company’s realized and unrealized gains and losses on derivatives instruments in the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows (in thousands) Three Months Ended Nine Months Ended Derivatives not designated as hedging contracts under ASC Topic 815 September 30, September 30, Statement of Cash Flows Location Statement of Operations Location 2020 2019 2020 2019 Unrealized (loss) gain Not separately presented Not separately presented $ (14,543 ) $ 15,021 $ 25,466 $ (33,332 ) Realized gain Operating portion of net cash received in settlement of derivative contracts Not separately presented 8,503 3,705 47,599 13,660 Total (loss) gain on derivative contracts, net (Loss) gain on derivative contracts, net $ (6,040 ) $ 18,726 $ 73,065 $ (19,672 ) Included in Accounts receivable under the subheading of Joint interest billings and other in the Condensed Consolidated Balance Sheets as of September 30, 2020 December 31, 2019 not

Note 4 - Asset Impairments

Note 4 - Asset Impairments	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Asset Impairment Charges [Text Block]	Note 4. The Company had the following non-cash asset impairment charges for the three nine September 30, 2020 in thousands Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Proved property $ — $ 25,252 Unproved property 2,115 19,676 Goodwill — 17,620 Impairment expense $ 2,115 $ 62,548 See further discussion of non-cash asset impairment charges to Proved property and Unproved property in Note 5. Note 15. The Company did not three nine September 30, 2019

Note 5 - Oil and Natural Gas Pr

Note 5 - Oil and Natural Gas Properties	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Oil and Gas Properties [Text Block]	Note 5. The Company follows the successful efforts method of accounting for its oil and natural gas properties. Under this method, costs to acquire oil and natural gas properties, drill and equip exploratory wells that find proved reserves, and drill and equip development wells are capitalized. Exploration costs, including unsuccessful exploratory wells and geological and geophysical costs, are charged to operations as incurred. Upon sale or retirement of oil and natural gas properties, the costs and related accumulated depreciation, depletion and amortization are eliminated from the accounts and the resulting gain or loss is recognized. Costs incurred to maintain wells and related equipment, lease and well operating costs, and other exploration costs are charged to expense as incurred. Gains and losses arising from the sale of properties are included in Income from operations in the Condensed Consolidated Statements of Operations. The Company’s lease acquisition costs and development costs of proved oil and natural gas properties are amortized using the units-of-production method, at the field level, based on total proved reserves and proved developed reserves, respectively. For the three nine September 30, 2020 three nine September 30, 2019 Proved Properties Proved oil and natural gas properties are reviewed for impairment on a nonrecurring basis. The impairment charge reduces the carrying values to their estimated fair values. These fair value measurements are classified as Level 3 Unproved Properties Unproved properties consist of costs incurred to acquire undeveloped leases. Unproved oil and gas leases are generally for a primary term of three five 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 Impairments to Oil and Natural Gas Properties During the three March 31, 2020, No three September 30, 2020 three nine September 30, 2020 The Company did not three nine September 30, 2019 Capitalized costs, impairment, and depreciation, depletion and amortization relating to the Company’s oil and natural gas properties as of September 30, 2020 December 31, 2019 in thousands September 30, December 31, 2020 2019 Oil and gas properties, successful efforts method: Proved properties $ 1,096,318 $ 1,046,208 Accumulated impairment to proved properties (100,652 ) (75,400 ) Proved properties, net of accumulated impairments 995,666 970,808 Unproved properties 301,847 305,961 Accumulated impairment to Unproved properties (65,365 ) (45,690 ) Unproved properties, net of accumulated impairments 236,482 260,271 Land 5,382 5,382 Total oil and gas properties, net of accumulated impairments 1,237,530 1,236,461 Accumulated depreciation, depletion and amortization (271,012 ) (195,567 ) Net oil and gas properties $ 966,518 $ 1,040,894

Note 6 - Noncontrolling Interes

Note 6 - Noncontrolling Interest	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	Note 6. Earthstone consolidates the financial results of EEH and its subsidiaries and records a noncontrolling interest for the economic interest in Earthstone held by the members of EEH other than Earthstone and Lynden US. Net (loss) income attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations for the three nine September 30, 2020 2019 September 30, 2020 December 31, 2019 The following table presents the changes in noncontrolling interest for the nine September 30, 2020 EEH Units Held Total EEH By Earthstone EEH Units Held Units and Lynden US % By Others % Outstanding As of December 31, 2019 29,421,131 45.5 % 35,260,680 54.5 % 64,681,811 EEH Units and Class B Common Stock converted to Class A Common Stock 251,309 (251,309 ) — EEH Units issued in connection with the vesting of restricted stock units 538,309 — 538,309 As of September 30, 2020 30,210,749 46.3 % 35,009,371 53.7 % 65,220,120

Note 7 - Net (Loss) Income Per

Note 7 - Net (Loss) Income Per Common Share	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 7. Net (loss) income per common share—basic is calculated by dividing Net (loss) income by the weighted average number of shares of common stock outstanding during the period. Net (loss) income per common share—diluted assumes the conversion of all potentially dilutive securities and is calculated by dividing Net (loss) income by the sum of the weighted average number of shares of common stock, as defined above, outstanding plus potentially dilutive securities. Net (loss) income per common share—diluted considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares, as defined above, would have an anti-dilutive effect. A reconciliation of Net (loss) income per common share is as follows: Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2020 2019 2020 2019 Net (loss) income attributable to Earthstone Energy, Inc. $ (5,445 ) $ 11,770 $ (5,076 ) $ 3,343 Net (loss) income per common share attributable to Earthstone Energy, Inc.: Basic $ (0.18 ) $ 0.41 $ (0.17 ) $ 0.12 Diluted $ (0.18 ) $ 0.41 $ (0.17 ) $ 0.12 Weighted average common shares outstanding Basic 30,073,635 29,032,842 29,810,705 28,883,907 Add potentially dilutive securities: Unvested restricted stock units (1) — — — — Unvested performance units (1) — — — — Diluted weighted average common shares outstanding 30,073,635 29,032,842 29,810,705 28,883,907 ( 1 three nine September 30, 2020 2019, Class B Common Stock has been excluded, as its conversion would eliminate noncontrolling interest and net loss attributable to noncontrolling interest of $6.4 million for the three September 30, 2020 nine September 30, 2020 no Class B Common Stock has been excluded, as its conversion would eliminate noncontrolling interest and net income attributable to noncontrolling interest of $14.4 million for the three September 30, 2019 nine September 30, 2019 no

Note 8 - Common Stock

Note 8 - Common Stock	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 8. Class A Common Stock At September 30, 2020 December 31, 2019 three nine September 30, 2020 2014 “2014 three nine September 30, 2019 2014 Class B Common Stock At September 30, 2020 December 31, 2019 three nine September 30, 2020 three nine September 30, 2019

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 9. Restricted Stock Units The 2014 September 30, 2020 may 2014 Each RSU represents the contingent right to receive one share of Class A Common Stock. The holders of outstanding RSUs do not The table below summarizes RSU award activity for the nine September 30, 2020 Shares Weighted-Average Grant Date Fair Value Unvested RSUs at December 31, 2019 1,107,796 $ 6.60 Granted 568,900 $ 5.15 Forfeited (1,083 ) $ 5.19 Vested (726,082 ) $ 6.43 Unvested RSUs at September 30, 2020 949,531 $ 5.86 As of September 30, 2020 For the three nine September 30, 2020 three nine September 30, 2019 Performance Units The table below summarizes performance unit (“PSU”) activity for the nine September 30, 2020 Shares Weighted-Average Grant Date Fair Value Unvested PSUs at December 31, 2019 835,625 $ 10.51 Granted 1,043,800 $ 5.36 Unvested PSUs at September 30, 2020 1,879,425 $ 7.65 On January 30, 2020, “2020 2014 “2020 2020 2014 “2014 2014 2020 June 3, 2020. 2020 February 1, 2020 January 31, 2023 ( The 2020 three February 1, 2020. 0x 2.0x 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 2020 may 19 14.5% 2020 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 As of September 30, 2020 For the three nine September 30, 2020 three nine September 30, 2019

Note 10 - Long-term Debt

Note 10 - Long-term Debt	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	Note 10. Credit Facility On November 21, 2019, November 21, 2019. Concurrently with the effectiveness of the Credit Facility, the Company terminated that certain credit agreement, dated as of May 9, 2017 ( On March 27, 2020, On September 28, 2020, $275 The next regularly scheduled redetermination of the borrowing base is on or around April 1, 2021. November 1st May 1st one November 21, 2024. Effective May 2020, May 2022 May 2023 May 2024. The Credit Facility 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 Facility requires EEH to maintain the following financial covenants: a current ratio of not 1.0 not 1.0. four x not The Credit Facility 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 September 30, 2020 As of September 30, 2020 December 31, 2019 For the nine September 30, 2020 For the three nine September 30, 2020 three nine September 30, 2019 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. These capitalized costs are included in Other noncurrent assets in the Condensed Consolidated Balance Sheets. No costs associated with the Credit Facility were capitalized during the three nine September 30, 2020 2019

Note 11 - Asset Retirement Obli

Note 11 - Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Asset Retirement Obligation Disclosure [Text Block]	Note 11. The Company has asset retirement obligations associated with the future plugging and abandonment of oil and gas properties and related facilities. Revisions to the liability typically occur due to changes in the estimated abandonment costs, well economic lives, and the discount rate. The following table summarizes the Company’s asset retirement obligation transactions recorded during the nine September 30, (in thousands) 2020 Beginning asset retirement obligations $ 2,164 Liabilities incurred 46 Accretion expense 137 Divestitures (10 ) Revision of estimates (2 ) Ending asset retirement obligations $ 2,335

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 12. FASB ASC Topic 850 , Related Party Disclosures Earthstone's majority shareholder consists of various investment funds managed by a private equity firm who may February 12, 2020, not In connection with the Olenik v. Lodzinski et al. lawsuit described below in Note 13. June 2020, September 30, 2020

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 13. Legal From time to time, Earthstone and its subsidiaries may June 2, 2017, November 7, 2016 March 21, 2017 ( not not March 13, 2017, July 20, 2018, April 5, 2019, September 21, 2020. Prior to September 30, 2020, Environmental and Regulatory As of September 30, 2020 no 17 Table of Contents EARTHSTONE ENERGY, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 14. The Company’s corporate structure requires the filing of two one not During the nine September 30, 2020 1 no 2 3 no nine September 30, 2020 During the nine September 30, 2019 1 2 no 3 no nine September 30, 2019

Note 15 - Goodwill

Note 15 - Goodwill	9 Months Ended
	Sep. 30, 2020
Notes to Financial Statements
Goodwill Disclosure [Text Block]	Note 15. Goodwill represents the excess of the purchase price of assets acquired over the fair value of those assets. The fair value of Goodwill is classified as a Level 3 820. may not A discounted future cash flow analysis of the properties to which the Goodwill was associated was performed based on commodity price futures as of March 31, 2020. two No September 30, 2020. not three nine September 30, 2019. Accumulated impairments to Goodwill as of September 30, 2020 December 31, 2019

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards Intangibles – Goodwill and Other – January 2017, December 15, 2019 January 1, 2017. January 1, 2020. Note 15. Fair Value Measurements – August 2018, 820. December 15, 2019 January 1, 2020 not Credit Losses June 2016, not December 15, 2019. January 1, 2020 not Income Taxes December 2019, 740. 740 December 15, 2020 Reference Rate Reform March 2020, December 31, 2022. not not

Note 2 - Fair Value Measureme_2

Note 2 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2020 Level 1 Level 2 Level 3 Total Financial assets Derivative asset - current $ — $ 25,097 $ — $ 25,097 Derivative asset - noncurrent — 4,727 — 4,727 Total financial assets $ — $ 29,824 $ — $ 29,824 Financial liabilities Derivative liability - current $ — $ 1,040 $ — $ 1,040 Derivative liability - noncurrent — 577 — 577 Total financial liabilities $ — $ 1,617 $ — $ 1,617 December 31, 2019 Financial assets Derivative asset - current $ — $ 8,860 $ — $ 8,860 Derivative asset - noncurrent — 770 — 770 Total financial assets $ — $ 9,630 $ — $ 9,630 Financial liabilities Derivative liability - current $ — $ 6,889 $ — $ 6,889 Derivative liability - noncurrent — — — — Total financial liabilities $ — $ 6,889 $ — $ 6,889

Note 3 - Derivative Financial_2

Note 3 - Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	Price Swaps Volume Weighted Average Price Period Commodity (Bbls / MMBtu) ($/Bbl / $/MMBtu) Q4 2020 Crude Oil 552,000 $ 60.65 Q1 - Q4 2021 Crude Oil 1,460,000 $ 55.16 Q4 2020 Crude Oil Basis Swap (1) 598,000 $ (1.50 ) Q4 2020 Crude Oil Basis Swap (2) 92,000 $ 2.55 Q4 2020 Crude Oil Roll Swap (3) 552,000 $ (1.79 ) Q1 - Q4 2021 Crude Oil Basis Swap (1) 1,825,000 $ 1.05 Q4 2020 Natural Gas 644,000 $ 2.85 Q1 - Q4 2021 Natural Gas 4,380,000 $ 2.76 Q4 2020 Natural Gas Basis Swap (4) 644,000 $ (1.07 ) Q1 - Q4 2021 Natural Gas Basis Swap (4) 4,380,000 $ (0.45 )
Schedule of Interest Rate Derivatives [Table Text Block]	Effective Dates Notional Amount Fixed Rate May 5, 2020 to May 5, 2022 $ 125,000,000 0.286 % May 5, 2022 to May 5, 2023 $ 100,000,000 0.286 % May 5, 2023 to May 7, 2024 $ 75,000,000 0.286 %
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	September 30, 2020 December 31, 2019 Derivatives not Gross Net Gross Net designated as hedging Balance Recognized Gross Recognized Recognized Gross Recognized contracts under ASC Sheet Assets / Amounts Assets / Assets / Amounts Assets / Topic 815 Location Liabilities Offset Liabilities Liabilities Offset Liabilities Commodity contracts Derivative asset - current $ 26,773 $ (1,676 ) $ 25,097 $ 13,321 $ (4,461 ) $ 8,860 Commodity contracts Derivative liability - current $ 2,539 $ (1,676 ) $ 863 $ 11,350 $ (4,461 ) $ 6,889 Interest rate swaps Derivative liability - current $ 177 $ — $ 177 $ — $ — $ — Commodity contracts Derivative asset - noncurrent $ 4,727 $ — $ 4,727 $ 1,031 $ (261 ) $ 770 Commodity contracts Derivative liability - noncurrent $ 355 $ — $ 355 $ 261 $ (261 ) $ — Interest rate swaps Derivative liability - noncurrent $ 222 $ — $ 222 $ — $ — $ —
Derivatives Not Designated as Hedging Instruments [Table Text Block]	Three Months Ended Nine Months Ended Derivatives not designated as hedging contracts under ASC Topic 815 September 30, September 30, Statement of Cash Flows Location Statement of Operations Location 2020 2019 2020 2019 Unrealized (loss) gain Not separately presented Not separately presented $ (14,543 ) $ 15,021 $ 25,466 $ (33,332 ) Realized gain Operating portion of net cash received in settlement of derivative contracts Not separately presented 8,503 3,705 47,599 13,660 Total (loss) gain on derivative contracts, net (Loss) gain on derivative contracts, net $ (6,040 ) $ 18,726 $ 73,065 $ (19,672 )

Note 4 - Asset Impairments (Tab

Note 4 - Asset Impairments (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block]	Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Proved property $ — $ 25,252 Unproved property 2,115 19,676 Goodwill — 17,620 Impairment expense $ 2,115 $ 62,548

Note 5 - Oil and Natural Gas _2

Note 5 - Oil and Natural Gas Properties (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]	September 30, December 31, 2020 2019 Oil and gas properties, successful efforts method: Proved properties $ 1,096,318 $ 1,046,208 Accumulated impairment to proved properties (100,652 ) (75,400 ) Proved properties, net of accumulated impairments 995,666 970,808 Unproved properties 301,847 305,961 Accumulated impairment to Unproved properties (65,365 ) (45,690 ) Unproved properties, net of accumulated impairments 236,482 260,271 Land 5,382 5,382 Total oil and gas properties, net of accumulated impairments 1,237,530 1,236,461 Accumulated depreciation, depletion and amortization (271,012 ) (195,567 ) Net oil and gas properties $ 966,518 $ 1,040,894

Note 6 - Noncontrolling Inter_2

Note 6 - Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Changes in Noncontrolling Interest [Table Text Block]	EEH Units Held Total EEH By Earthstone EEH Units Held Units and Lynden US % By Others % Outstanding As of December 31, 2019 29,421,131 45.5 % 35,260,680 54.5 % 64,681,811 EEH Units and Class B Common Stock converted to Class A Common Stock 251,309 (251,309 ) — EEH Units issued in connection with the vesting of restricted stock units 538,309 — 538,309 As of September 30, 2020 30,210,749 46.3 % 35,009,371 53.7 % 65,220,120

Note 7 - Net (Loss) Income Pe_2

Note 7 - Net (Loss) Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, (In thousands, except per share amounts) 2020 2019 2020 2019 Net (loss) income attributable to Earthstone Energy, Inc. $ (5,445 ) $ 11,770 $ (5,076 ) $ 3,343 Net (loss) income per common share attributable to Earthstone Energy, Inc.: Basic $ (0.18 ) $ 0.41 $ (0.17 ) $ 0.12 Diluted $ (0.18 ) $ 0.41 $ (0.17 ) $ 0.12 Weighted average common shares outstanding Basic 30,073,635 29,032,842 29,810,705 28,883,907 Add potentially dilutive securities: Unvested restricted stock units (1) — — — — Unvested performance units (1) — — — — Diluted weighted average common shares outstanding 30,073,635 29,032,842 29,810,705 28,883,907

Note 9 - Stock-based Compensa_2

Note 9 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Shares Weighted-Average Grant Date Fair Value Unvested RSUs at December 31, 2019 1,107,796 $ 6.60 Granted 568,900 $ 5.15 Forfeited (1,083 ) $ 5.19 Vested (726,082 ) $ 6.43 Unvested RSUs at September 30, 2020 949,531 $ 5.86 Shares Weighted-Average Grant Date Fair Value Unvested PSUs at December 31, 2019 835,625 $ 10.51 Granted 1,043,800 $ 5.36 Unvested PSUs at September 30, 2020 1,879,425 $ 7.65
Schedule of Total Shareholder Return Goals [Table Text Block	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

Note 11 - Asset Retirement Ob_2

Note 11 - Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Tables
Schedule of Change in Asset Retirement Obligation [Table Text Block]	2020 Beginning asset retirement obligations $ 2,164 Liabilities incurred 46 Accretion expense 137 Divestitures (10 ) Revision of estimates (2 ) Ending asset retirement obligations $ 2,335

Note 2 - Fair Value Measureme_3

Note 2 - Fair Value Measurements - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Derivative asset - current	$ 25,097	$ 8,860
Derivative asset	4,727	770
Derivative liability - current	1,040	6,889
Derivative liability	577	0
Fair Value, Recurring [Member]
Derivative asset - current	25,097	8,860
Derivative asset	4,727	770
Total financial assets	29,824	9,630
Derivative liability - current	1,040	6,889
Derivative liability	577	0
Total financial liabilities	1,617	6,889
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative asset - current	0	0
Derivative asset	0	0
Total financial assets	0	0
Derivative liability - current	0	0
Derivative liability	0	0
Total financial liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative asset - current	25,097	8,860
Derivative asset	4,727	770
Total financial assets	29,824	9,630
Derivative liability - current	1,040	6,889
Derivative liability	577	0
Total financial liabilities	1,617	6,889
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative asset - current	0	0
Derivative asset	0	0
Total financial assets	0	0
Derivative liability - current	0	0
Derivative liability	0	0
Total financial liabilities	$ 0	$ 0

Note 3 - Derivative Financial_3

Note 3 - Derivative Financial Instruments (Details Textual) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Oil and Gas Joint Interest Billing Receivables Current [Member] | Commodity Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Asset, Total	$ 3.6	$ 0.6

Note 3 - Derivative Financial_4

Note 3 - Derivative Financial Instruments - Derivative Financial Instruments - Schedule of Open Crude Oil and Natural Gas Derivative Contracts (Details)	3 Months Ended
	Sep. 30, 2020BoeMMBTU
Crude Oil Derivative Swap Q4 2020 [Member]
Crude oil volume (Barrel of Oil Equivalent)	552,000
Weighted average price	60.65
Crude Oil Derivative Swap Q1 - Q4 2021 [Member]
Crude oil volume (Barrel of Oil Equivalent)	1,460,000
Weighted average price	55.16
Crude Oil Basis Swap 1 Q4 2020 [Member]
Crude oil volume (Barrel of Oil Equivalent)	598,000	[1]
Weighted average price	(1.50)	[1]
Crude Oil Basis Swap 2 Q4 2020 [Member]
Crude oil volume (Barrel of Oil Equivalent)	92,000	[2]
Weighted average price	2.55	[2]
Crude Oil Basis Swap 3 Q4 2020 [Member]
Crude oil volume (Barrel of Oil Equivalent)	552,000	[3]
Weighted average price	(1.79)	[3]
Crude Oil Basis Swap Q1 - Q4 2021 [Member]
Crude oil volume (Barrel of Oil Equivalent)	1,825,000	[1]
Weighted average price	1.05	[1]
Natural Gas Derivative Swap Q4 2021 [Member]
Crude oil volume (Barrel of Oil Equivalent) | MMBTU	644,000
Weighted average price	2.85
Natural Gas Derivative Swap Q1 - Q4 2021 [Member]
Crude oil volume (Barrel of Oil Equivalent) | MMBTU	4,380,000
Weighted average price	2.76
Natural Gas Basis Swap Q4 2021 [Member]
Crude oil volume (Barrel of Oil Equivalent) | MMBTU	644,000	[4]
Weighted average price	(1.07)	[4]
Natural Gas Basis Swap Q1 - Q4 2021 [Member]
Crude oil volume (Barrel of Oil Equivalent) | MMBTU	4,380,000	[4]
Weighted average price	(0.45)	[4]
[1]	The basis differential price is between WTI Midland Crude and the WTI NYMEX.
[2]	The basis differential price is between WTI Houston and the WTI NYMEX.
[3]	The swap is between WTI Roll and the WTI NYMEX.
[4]	The basis differential price is between W. Texas (WAHA) and the Henry Hub NYMEX.

Note 3 - Derivative Financial_5

Note 3 - Derivative Financial Instruments - Schedule of Interest Rate Swaps (Details)	Sep. 30, 2020USD ($)
May 5, 2020 to May 5, 2022 [Member]
Notional amount	$ 125,000,000
Fixed rate	0.286%
May 5, 2022 to May 5, 2023 [Member]
Notional amount	$ 100,000,000
Fixed rate	0.286%
May 5, 2023 to May 7, 2024 [Member]
Notional amount	$ 75,000,000
Fixed rate	0.286%

Note 3 - Derivative Financial_6

Note 3 - Derivative Financial Instruments - Schedule of Location and Fair Value Amounts of All Derivative Instruments (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Commodity Contract [Member] | Derivative Asset - Current [Member]
Gross recognized assets	$ 26,773	$ 13,321
Gross amounts offset, assets	(1,676)	(4,461)
Derivative assets	25,097	8,860
Commodity Contract [Member] | Derivative Liability - Current [Member]
Gross recognized liabilities	2,539	11,350
Gross amounts offset, liabilities	(1,676)	(4,461)
Derivative liabilites	863	6,889
Commodity Contract [Member] | Derivative Assets - Noncurrent [Member]
Gross recognized assets	4,727	1,031
Gross amounts offset, assets	0	(261)
Derivative assets	4,727	770
Commodity Contract [Member] | Derivative Liability - Noncurrent [Member]
Gross recognized liabilities	355	261
Gross amounts offset, liabilities	0	(261)
Derivative liabilites	355	0
Interest Rate Swap [Member] | Derivative Liability - Current [Member]
Gross recognized liabilities	177	0
Gross amounts offset, liabilities	0	0
Derivative liabilites	177	0
Interest Rate Swap [Member] | Derivative Liability - Noncurrent [Member]
Gross recognized liabilities	222	0
Gross amounts offset, liabilities	0	0
Derivative liabilites	$ 222	$ 0

Note 3 - Derivative Financial_7

Note 3 - Derivative Financial Instruments - Summary of Realized and Unrealized Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Realized gain			$ (47,599)	$ (13,660)
(Loss) gain on derivative contracts, net	$ (6,040)	$ 18,726	73,065	(19,672)
Not Designated as Hedging Instrument [Member]
Unrealized (loss) gain	(14,543)	15,021	25,466	(33,332)
Realized gain	8,503	3,705	47,599	13,660
(Loss) gain on derivative contracts, net	$ (6,040)	$ 18,726	$ 73,065	$ (19,672)

Note 4 - Asset Impairments (Det

Note 4 - Asset Impairments (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impairment of Oil and Gas Properties	$ 0	$ 44,928	$ 0

Note 4 - Asset Impairments - No

Note 4 - Asset Impairments - Non-cash Asset Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impairment of proved and unproved oil and gas properties		$ 0	$ 44,928	$ 0
Goodwill	$ 0	0	17,620	0
Impairment expense	2,115	$ 0	62,548	$ 0
Proved Property [Member]
Impairment of proved and unproved oil and gas properties	0		25,252
Unproved Property [Member]
Impairment of proved and unproved oil and gas properties	$ 2,115		$ 19,676

Note 5 - Oil and Natural Gas _3

Note 5 - Oil and Natural Gas Properties (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impairment of Oil and Gas Properties			$ 0	$ 44,928	$ 0
Asset Impairment Charges, Total	$ 2,115		0	62,548	0
Proved Oil and Natural Gas Properties [Member]
Depletion of Oil and Gas Properties	28,400		$ 13,900	$ 75,700	$ 41,700
Proved Oil and Natural Gas Properties [Member] | Eagle Ford Trend [Member]
Impairment of Oil and Gas Properties		$ 25,300
Unproved Oil and Gas Properties [Member] | Eagle Ford Trend [Member]
Impairment of Oil and Gas Properties	0	$ 11,300
Unproved Oil and Gas Properties [Member] | Minimum [Member]
Oil and Gas Commitments and Contracts Term (Year)				3 years
Unproved Oil and Gas Properties [Member] | Maximum [Member]
Oil and Gas Commitments and Contracts Term (Year)				5 years
Oil and Gas Properties, Subject to Acreage Expirations [Member]
Impairment of Oil and Gas Properties	$ 2,100			$ 8,400

Note 5 - Oil and Natural Gas _4

Note 5 - Oil and Natural Gas Properties - Schedule of Capitalized Costs, Impairment, and Depreciation (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Proved properties	$ 995,666	$ 970,808
Net oil and gas properties	966,518	1,040,894
Unproved properties	236,482	260,271
Land	5,382	5,382
Total oil and gas properties, net of accumulated impairments	1,237,530	1,236,461
Accumulated depreciation, depletion and amortization	(271,012)	(195,567)
Proved Oil and Natural Gas Properties [Member]
Proved properties	1,096,318	1,046,208
Accumulated impairment	(100,652)	(75,400)
Net oil and gas properties	995,666	970,808
Unproved Oil and Gas Properties [Member]
Accumulated impairment	(65,365)	(45,690)
Net oil and gas properties	236,482	260,271
Unproved properties	$ 301,847	$ 305,961

Note 6 - Noncontrolling Inter_3

Note 6 - Noncontrolling Interest - Summary of Changes in Noncontrolling Interest (Details)	9 Months Ended
	Sep. 30, 2020shares	Dec. 31, 2019
Common Class A [Member]
Outstanding, beginning balance (in shares)	29,421,131
Outstanding, ending balance (in shares)	30,210,749
Earthstone Energy Holdings Limited Liability Company [Member]
Outstanding, beginning balance (in shares)	64,681,811
Outstanding, ending balance (in shares)	65,220,120
Earthstone Energy Holdings Limited Liability Company [Member] | Restricted Stock Units (RSUs) [Member]
EEH Units issued in connection with the vesting of restricted stock units (in shares)	538,309
Earthstone Energy Holdings Limited Liability Company [Member] | Bold Transaction [Member] | Common Class A [Member]
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	0
Earthstone Energy Incorporation and Lynden United States of America Incorporation [Member] | Earthstone Energy Holdings Limited Liability Company [Member]
Outstanding, beginning balance (in shares)	29,421,131
Percent of units held	46.30%	45.50%
Outstanding, ending balance (in shares)	30,210,749
Earthstone Energy Incorporation and Lynden United States of America Incorporation [Member] | Earthstone Energy Holdings Limited Liability Company [Member] | Restricted Stock Units (RSUs) [Member]
EEH Units issued in connection with the vesting of restricted stock units (in shares)	538,309
Earthstone Energy Incorporation and Lynden United States of America Incorporation [Member] | Earthstone Energy Holdings Limited Liability Company [Member] | Bold Transaction [Member] | Common Class A [Member]
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	251,309
Other Entities [Member] | Earthstone Energy Holdings Limited Liability Company [Member]
Outstanding, beginning balance (in shares)	35,260,680
Percent of units held	53.70%	54.50%
Outstanding, ending balance (in shares)	35,009,371
Other Entities [Member] | Earthstone Energy Holdings Limited Liability Company [Member] | Restricted Stock Units (RSUs) [Member]
EEH Units issued in connection with the vesting of restricted stock units (in shares)	0
Other Entities [Member] | Earthstone Energy Holdings Limited Liability Company [Member] | Bold Transaction [Member] | Common Class A [Member]
EEH Units and Class B Common Stock converted to Class A Common Stock (in shares)	(251,309)

Note 7 - Net (Loss) Income Pe_3

Note 7 - Net (Loss) Income Per Common Share (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Dilutive Securities, Effect on Basic Earnings Per Share, Total	$ 0	$ 0	$ 0	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest, Total	$ (6,413)	$ 14,357	$ (5,977)	$ 3,877

Note 7 - Net (Loss) Income Pe_4

Note 7 - Net (Loss) Income Per Common Share - Reconciliation of Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net (loss) income attributable to Earthstone Energy, Inc.		$ (5,445)	$ 11,770	$ (5,076)	$ 3,343
Net (loss) income per common share attributable to Earthstone Energy, Inc.:
Basic (in dollars per share)		$ (0.18)	$ 0.41	$ (0.17)	$ 0.12
Diluted (in dollars per share)		$ (0.18)	$ 0.41	$ (0.17)	$ 0.12
Weighted average common shares outstanding:
Basic (in shares)		30,073,635	29,032,842	29,810,705	28,883,907
Add potentially dilutive securities:
Unvested restricted stock units (1) (in shares)	[1]	0	0	0	0
Unvested performance units (1) (in shares)	[1]	0	0	0	0
Diluted weighted average common shares outstanding (in shares)		30,073,635	29,032,842	29,810,705	28,883,907
[1]	For the three and nine months ended September 30, 2020 and 2019, the Company had no dilutive effect related to unvested restricted stock units or performance units as, under the treasury stock method, the proceeds from the average unrecognized expense for both during these periods were in excess of the weighted average outstanding fair value for the unvested shares for the same periods.

Note 8 - Common Stock (Details

Note 8 - Common Stock (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2020shares	Sep. 30, 2019shares	Sep. 30, 2020shares	Sep. 30, 2019shares	Dec. 31, 2019shares
Bold Contribution Agreement [Member] | Member Units [Member]
Stockholders Equity, Conversion Ratio			1
Common Class A [Member]
Common Stock, Shares, Issued, Total (in shares)	30,210,749		30,210,749		29,421,131
Common Stock, Shares, Outstanding, Ending Balance (in shares)	30,210,749		30,210,749		29,421,131
Common Class A [Member] | Bold Contribution Agreement [Member]
Stockholders Equity, Conversion Ratio			1
Common Class A [Member] | The 2014 Plan [Member]
Stock Issued During Period, Shares, New Issues (in shares)	195,344	167,827	726,082	569,883
Treasury Stock, Shares, Acquired (in shares)	54,268	49,111	187,773	151,716
Common Class B [Member]
Common Stock, Shares, Issued, Total (in shares)	35,009,371		35,009,371		35,260,680
Stock Issued During Period, Shares, Conversion of Convertible Securities (in shares)	49,316	35,732	251,309	35,732
Common Stock, Shares, Outstanding, Ending Balance (in shares)	35,009,371		35,009,371		35,260,680

Note 9 - Stock-based Compensa_3

Note 9 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Jan. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				568,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)		$ 5.86		$ 5.86		$ 6.60
Performance Stock Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				1,043,800
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)		$ 7.65		$ 7.65		$ 10.51
Long Term Incentive Plan 2014 [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		9,400,000		9,400,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 5.4		$ 5.4
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)				10 months 6 days
Share-based Payment Arrangement, Expense		1.2	$ 1.4	$ 4.2	$ 4.5
Long Term Incentive Plan 2014 [Member] | Restricted Stock Units (RSUs) [Member] | Bold Contribution Agreement [Member] | Common Class A [Member]
Share Based Compensation Arrangement By Share Based Payment Award Contingent Right to Receive Number of Shares of Common Stock Upon Vesting (in shares)				1
The 2014 Plan [Member] | Performance Stock Unit [Member]
Share-based Payment Arrangement, Expense		$ 1.2	$ 0.8	$ 3.5	$ 2.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	1,043,800
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate				1.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate				62.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)		$ 5.36		$ 5.36
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount		$ 7.3		$ 7.3
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)				11 months 23 days

Note 9 - Stock-Based Compensa_4

Note 9 - Stock-Based Compensation - Summary of Unvested Award Activity (Details)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Unvested (in shares) | shares	1,107,796
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.60
Granted (in shares) | shares	568,900
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.15
Forfeited (in shares) | shares	(1,083)
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.19
Vested (in shares) | shares	(726,082)
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.43
Unvested (in shares) | shares	949,531
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.86
Performance Stock Unit [Member]
Unvested (in shares) | shares	835,625
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 10.51
Granted (in shares) | shares	1,043,800
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.36
Unvested (in shares) | shares	1,879,425
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 7.65

Note 9 - Stock-based Compensa_5

Note 9 - Stock-based Compensation - Schedule of Target Multipliers (Details) - Performance Stock Unit [Member]	9 Months Ended
	Sep. 30, 2020
TSR Range Two [Member]
Company's Annualized TSR	1.00%
TSR Range Three [Member]
Company's Annualized TSR	0.50%
Minimum [Member] | TSR Range One [Member]
Company's Annualized TSR	2.00%
Maximum [Member] | TSR Range Four [Member]
Company's Annualized TSR	0.00%

Note 10 - Long-term Debt (Detai

Note 10 - Long-term Debt (Details Textual) $ in Thousands	Sep. 28, 2020USD ($)	Mar. 27, 2020USD ($)	Nov. 21, 2019	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	May 31, 2024USD ($)	May 31, 2023USD ($)	Mar. 31, 2020USD ($)	Mar. 26, 2020USD ($)	Dec. 31, 2019USD ($)
Long-term Debt, Excluding Current Maturities, Total				$ 130,000		$ 130,000						$ 170,000
Long-term Line of Credit, Total				$ 93,900		93,900
Repayments of Lines of Credit						$ 133,900
Long-term Debt, Weighted Average Interest Rate, over Time				2.48%	4.38%	2.89%	4.53%
Line of Credit Facility, Commitment Fee Amount				$ 200	$ 200	$ 500	$ 500
Amortization of Debt Issuance Costs				100	100	241	336
Interest Rate Swap [Member]
Derivative, Fixed Interest Rate										0.286%
Derivative, Notional Amount										$ 125,000
Interest Rate Swap [Member] | Forecast [Member]
Derivative, Notional Amount								$ 75,000	$ 100,000
Earthstone Energy Holdings Credit Agreement [Member]
Line of Credit Facility, Current Borrowing Capacity	$ 240,000	$ 275,000									$ 325,000
Line of Credit Facility Increase (Decrease) in Current Borrowing Base, Percent		15.00%
Line Of Credit Facility, Covenant Terms, Minimum Current Ratio			1
Line Of Credit Facility, Covenant Terms, Maximum Leverage Ratio			4
Long-term Debt, Excluding Current Maturities, Total				$ 130,000		$ 130,000						$ 170,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate				2.658%		2.658%
Line of Credit Facility, Remaining Borrowing Capacity				$ 110,000		$ 110,000
Capitalized Deferred Finance Costs				$ 0	$ 0	$ 0	$ 0
Earthstone Energy Holdings Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate						1.00%
Earthstone Energy Holdings Credit Agreement [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate						1.00%
Earthstone Energy Holdings Credit Agreement [Member] | Minimum [Member]
Debt Instrument, Increase (Decrease) in Interest Rate	0.25%
Debt Instrument, Basis Spread on Variable Rate						1.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.375%
Earthstone Energy Holdings Credit Agreement [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate						2.00%
Earthstone Energy Holdings Credit Agreement [Member] | Maximum [Member]
Debt Instrument, Increase (Decrease) in Interest Rate	0.50%
Debt Instrument, Basis Spread on Variable Rate						2.25%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage						0.50%
Earthstone Energy Holdings Credit Agreement [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate						3.25%

Note 11 - Asset Retirement Ob_3

Note 11 - Asset Retirement Obligations - Asset Retirement Obligation Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Beginning asset retirement obligations			$ 2,164
Liabilities incurred			46
Accretion expense	$ 47	$ 52	137	$ 160
Divestitures			(10)
Revision of estimates			(2)
Ending asset retirement obligations	$ 2,335		$ 2,335

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	Feb. 12, 2020	Jun. 30, 2020
Related Party Transaction, Proceeds From Sale of Oil and Gas Leases	$ 0.4
Majority Shareholder [Member]
Related Party Transaction, Preliminary Reimbursement		$ 0.6
Insurance Carrier [Member]
Related Party Transaction, Preliminary Reimbursement		$ 0.6

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual) - Terms Sheet Settlement [Member] $ in Thousands	Sep. 21, 2020USD ($)
Loss Contingency, All-in Cash Settlement Payment to Be Funded by Defendants And/Or Their Insurers Into an Escrow Account	$ 3,500
Loss Contingency, Percentage of Fund to Be Used Based on Management Duties and Business Judgment	55.00%
Loss Contingency, Percentage of Fund to Be Paid to Members of the Class or Current Stockholders of the Company out of the Escrow Account	45.00%
Loss Contingency, Expected Insurance Carries Reimbursement	$ 2,800
Loss Contingency, Expected Reimbursement From Related Affiliate	100
Loss Contingency Accrual, Ending Balance	3,750
Reimbursements from Insurance and Majority Shareholders [Member]
Loss Contingency, Receivable, Ending Balance	$ 5,700

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Expense (Benefit), Total	$ 130	$ 575	$ 112	$ 728
Deferred Income Tax Expense (Benefit), Total			112	728
Earthstone Energy Holdings Limited Liability Company [Member]
Deferred Income Tax Expense (Benefit), Total			100	(600)
Lynden USA Inc. [Member]
Income Tax Expense (Benefit), Total			$ (800)	(100)
Deferred Income Tax Expense (Benefit), Total				$ 600

Note 15 - Goodwill (Details Tex

Note 15 - Goodwill (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Goodwill, Impairment Loss	$ 0	$ 0	$ 17,620	$ 0
Goodwill, Impaired, Accumulated Impairment Loss	$ 36,700		$ 36,700		$ 19,100