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Statements of Income and Total Comprehensive Income (USD $)
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12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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| Income: | |||
| Oil and gas royalties | $ 29,346,103us-gaap_RoyaltyRevenue | $ 24,496,851us-gaap_RoyaltyRevenue | $ 14,670,915us-gaap_RoyaltyRevenue |
| Grazing lease rentals | 500,292us-gaap_OtherIncome | 494,210us-gaap_OtherIncome | 488,694us-gaap_OtherIncome |
| Land sales | 3,698,312us-gaap_LandSales | 6,413,588us-gaap_LandSales | 5,809,747us-gaap_LandSales |
| Interest income from notes receivable | 140,291us-gaap_InterestAndFeeIncomeOtherLoans | 484,238us-gaap_InterestAndFeeIncomeOtherLoans | 706,252us-gaap_InterestAndFeeIncomeOtherLoans |
| Easements and sundry income | 21,517,232us-gaap_OtherOperatingIncome | 12,220,187us-gaap_OtherOperatingIncome | 10,911,848us-gaap_OtherOperatingIncome |
| 55,202,230us-gaap_Revenues | 44,109,074us-gaap_Revenues | 32,587,456us-gaap_Revenues | |
| Expenses: | |||
| Taxes, other than income taxes | 1,692,256us-gaap_TaxesExcludingIncomeAndExciseTaxes | 1,420,635us-gaap_TaxesExcludingIncomeAndExciseTaxes | 941,757us-gaap_TaxesExcludingIncomeAndExciseTaxes |
| Salaries and related employee benefits | 917,726us-gaap_LaborAndRelatedExpense | 1,189,141us-gaap_LaborAndRelatedExpense | 1,106,599us-gaap_LaborAndRelatedExpense |
| General expense, supplies, and travel | 629,990us-gaap_GeneralAndAdministrativeExpense | 589,307us-gaap_GeneralAndAdministrativeExpense | 601,590us-gaap_GeneralAndAdministrativeExpense |
| Legal and professional fees | 517,497us-gaap_ProfessionalFees | 755,132us-gaap_ProfessionalFees | 609,555us-gaap_ProfessionalFees |
| Depreciation | 19,730us-gaap_Depreciation | 16,286us-gaap_Depreciation | 16,504us-gaap_Depreciation |
| Trustees’ compensation | 8,000us-gaap_TrusteeFees | 8,000us-gaap_TrusteeFees | 8,000us-gaap_TrusteeFees |
| 3,785,199us-gaap_CostsAndExpenses | 3,978,501us-gaap_CostsAndExpenses | 3,284,005us-gaap_CostsAndExpenses | |
| Operating income | 51,417,031us-gaap_OperatingIncomeLoss | 40,130,573us-gaap_OperatingIncomeLoss | 29,303,451us-gaap_OperatingIncomeLoss |
| Interest income earned from investments | 14,523us-gaap_InvestmentIncomeInterest | 12,005us-gaap_InvestmentIncomeInterest | 19,435us-gaap_InvestmentIncomeInterest |
| Income before income taxes | 51,431,554us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 40,142,578us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 29,322,886us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
| Income Tax Disclosure [Abstract] | |||
| Current | 17,641,531us-gaap_CurrentIncomeTaxExpenseBenefit | 13,708,995us-gaap_CurrentIncomeTaxExpenseBenefit | 10,287,844us-gaap_CurrentIncomeTaxExpenseBenefit |
| Deferred | (974,997)us-gaap_DeferredIncomeTaxExpenseBenefit | (784,925)us-gaap_DeferredIncomeTaxExpenseBenefit | (612,776)us-gaap_DeferredIncomeTaxExpenseBenefit |
| 16,666,534us-gaap_IncomeTaxExpenseBenefit | 12,924,070us-gaap_IncomeTaxExpenseBenefit | 9,675,068us-gaap_IncomeTaxExpenseBenefit | |
| Net income | 34,765,020us-gaap_NetIncomeLoss | 27,218,508us-gaap_NetIncomeLoss | 19,647,818us-gaap_NetIncomeLoss |
| Amortization of net actuarial costs and prior service costs, net of income taxes of $18,109, $39,093, and $42,812 respectively | 33,632us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax | 72,601us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax | 79,507us-gaap_OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax |
| Net actuarial gain (loss) on pension plan net of income taxes of $(423,848), $145,211, and $(109,244) respectively | (764,414)us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax | 259,352us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax | (199,158)us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax |
| Total other comprehensive gain (loss) | (730,782)us-gaap_OtherComprehensiveIncomeLossNetOfTax | 331,953us-gaap_OtherComprehensiveIncomeLossNetOfTax | (119,651)us-gaap_OtherComprehensiveIncomeLossNetOfTax |
| Total comprehensive income | $ 34,034,238us-gaap_ComprehensiveIncomeNetOfTax | $ 27,550,461us-gaap_ComprehensiveIncomeNetOfTax | $ 19,528,167us-gaap_ComprehensiveIncomeNetOfTax |
| Net income per Sub-share Certificate (in dollars per share) | $ 4.14us-gaap_EarningsPerShareBasicAndDiluted | $ 3.16us-gaap_EarningsPerShareBasicAndDiluted | $ 2.20us-gaap_EarningsPerShareBasicAndDiluted |
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- Details
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest and fee income derived from loans not otherwise specified in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue from the sale of land in the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Amount after tax of (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fees charged annually for the professional services of a trustee, usually quoted as a percentage of the funds being managed. The fee for appointing an offshore Trustee is included in the trust price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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