Quarterly report [Sections 13 or 15(d)]

Oil and Gas Royalty Interests (Tables)

v3.25.1
Oil and Gas Royalty Interests (Tables)
3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
Schedule of Royalty Interests
As of March 31, 2025 and December 31, 2024, the net book value of the oil and gas royalty interests we owned was as follows (in thousands):
March 31,
2025
December 31,
2024
Oil and gas royalty interests:
1/16th nonparticipating perpetual royalty interests (1)
$ —  $ — 
1/128th nonparticipating perpetual royalty interests (2)
—  — 
Royalty interests acquired, at cost (3)
450,617  447,071 
Total royalty interests 450,617  447,071 
Less: accumulated depletion (21,955) (14,670)
Royalty interests, net $ 428,662  $ 432,401 
(1)Royalty interests assigned through the Declaration of Trust. Nonparticipating perpetual royalty interests in 185,369 NRA as of March 31, 2025 and December 31, 2024.
(2)Royalty interests assigned through the Declaration of Trust. Nonparticipating perpetual royalty interests in 5,308 NRA as of March 31, 2025 and December 31, 2024.
(3)Royalty interest in 16,074 and 15,897 NRA as of March 31, 2025 and December 31, 2024, respectively.