Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND TOTAL COMPREHENSIVE INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND TOTAL COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Total revenues $ 195,983 $ 174,142
Expenses:    
Salaries and related employee expenses 14,572 12,461
Water service-related expenses 11,126 10,212
General and administrative expenses 6,072 9,231
Depreciation, depletion and amortization 11,941 3,840
Ad valorem and other taxes 2,199 2,357
Total operating expenses 45,910 38,101
Operating income 150,073 136,041
Other income, net 4,321 9,943
Income before income taxes 154,394 145,984
Income tax expense 33,742 31,567
Net income 120,652 114,417
Other comprehensive loss — periodic pension costs, net of income taxes of $11 and $6 for the three months ended March 31, 2025 and 2024, respectively (39) (21)
Total comprehensive income $ 120,613 $ 114,396
Net income per share of common stock    
Basic (in dollars per share) $ 5.25 $ 4.97
Diluted (in dollars per share) $ 5.24 $ 4.97
Weighted average number of shares of common stock outstanding    
Basic (in shares) 22,980,695 23,003,001
Diluted (in shares) 23,005,847 23,020,249
Dividends accrued per common stock (in dollars per share) $ 1.60 $ 1.17
Oil and gas royalties    
Revenues:    
Total revenues $ 111,245 $ 92,120
Water sales    
Revenues:    
Total revenues 38,813 37,126
Produced water royalties    
Revenues:    
Total revenues 27,700 23,006
Easements and other surface-related income    
Revenues:    
Total revenues 18,225 20,646
Land sales    
Revenues:    
Total revenues $ 0 $ 1,244