Quarterly report [Sections 13 or 15(d)]

Oil and Gas Royalty Interests (Tables)

v3.26.1
Oil and Gas Royalty Interests (Tables)
 3 Months Ended
Mar. 31, 2026
Real Estate [Abstract]  
Schedule of Royalty Interests
As of March 31, 2026 and December 31, 2025, the net book value of the oil and gas royalty interests we owned was as follows (in thousands):
March 31,
2026		 December 31,
2025
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)
897,437  897,437 
Total royalty interests 897,437  897,437 
Less: accumulated depletion (65,987) (57,413)
Royalty interests, net $ 831,450  $ 840,024 
(1)Royalty interests assigned through the Declaration of Trust. Nonparticipating perpetual royalty interests in 185,369 NRA as of March 31, 2026 and December 31, 2025.
(2)Royalty interests assigned through the Declaration of Trust. Nonparticipating perpetual royalty interests in 5,308 NRA as of March 31, 2026 and December 31, 2025.
(3)Royalty interest in 33,380 NRA as of March 31, 2026 and December 31, 2025