Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.25.1
Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible assets, net consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):

  March 31,
2025		 December 31,
2024
Intangible assets, at cost:    
Saltwater disposal easement $ 17,557  $ 17,557 
Contracts acquired in a business combination 15,700  15,700 
Groundwater rights acquired 3,846  3,846 
Total intangible assets, at cost (1)
37,103  37,103 
Less: accumulated amortization (2,501) (1,915)
Intangible assets, net $ 34,602  $ 35,188 
(1)The remaining weighted average amortization period for total intangible assets was 11.3 years as of March 31, 2025.

Amortization of intangible assets was $0.6 million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively. The estimated future amortization expense of intangible assets for each of the next five years and thereafter is as follows (in thousands):
Year Estimated Future Amortization Expense
Remainder of 2025 $ 1,756 
2026 2,342 
2027 2,342 
2028 2,342 
2029 2,342 
2030 and thereafter 23,478 
Total expected amortization expense $ 34,602