Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Royalty Interests

v3.22.2
Oil and Gas Royalty Interests
 6 Months Ended
Jun. 30, 2022
Real Estate [Abstract]  
Oil and Gas Royalty Interests Oil and Gas Royalty InterestsAs of June 30, 2022 and December 31, 2021, we owned the following oil and gas royalty interests (in thousands):
Net Book Value
June 30,
2022		 December 31,
2021
1/16th nonparticipating perpetual royalty interests $ —  $ — 
1/128th nonparticipating perpetual royalty interests —  — 
Royalty interests acquired 47,928  46,266 
Total royalty interests, gross 47,928  46,266 
Less: accumulated depletion (2,345) (1,876)
Total royalty interests, net $ 45,583  $ 44,390 
Acquisition

For the six months ended June 30, 2022, we acquired oil and gas royalty interests in 92 net royalty acres (normalized to 1/8th) for an aggregate purchase price of approximately $1.7 million. There were no oil and gas royalty interest transactions for the six months ended June 30, 2021.

Depletion expense was $0.2 million and $0.2 million for the three months ended June 30, 2022 and 2021, respectively. Depletion expense was $0.5 million and $0.4 million for the six months ended June 30, 2022 and 2021, respectively.