Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Royalty Interests

v3.23.2
Oil and Gas Royalty Interests
 6 Months Ended
Jun. 30, 2023
Real Estate [Abstract]  
Oil and Gas Royalty Interests Oil and Gas Royalty Interests
As of June 30, 2023 and December 31, 2022, we owned the following oil and gas royalty interests (in thousands):

June 30,
2023		 December 31,
2022
1/16th nonparticipating perpetual royalty interests $ —  $ — 
1/128th nonparticipating perpetual royalty interests —  — 
Royalty interests acquired 49,731  47,928 
Total royalty interests, gross 49,731  47,928 
Less: accumulated depletion (3,811) (2,903)
Total royalty interests, net $ 45,920  $ 45,025 
Acquisitions

For the six months ended June 30, 2023, we acquired oil and gas royalty interests in 61 net royalty acres (normalized to 1/8th) for an aggregate purchase price of approximately $1.8 million. 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.

Depletion expense was $0.6 million and $0.2 million for the three months ended June 30, 2023 and 2022, respectively.
Depletion expense was $0.9 million and $0.5 million for the six months ended June 30, 2023 and 2022, respectively.