Quarterly report pursuant to Section 13 or 15(d)

Note 9

v3.8.0.1
Note 9
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
(
9
)
ASC
280,
Segment Reporting,”
establishes standards for the way public business enterprises are to report information about operating segments. In accordance with ASC
280,
the Trust utilizes the management approach as a basis for identifying reportable segments. The management approach is based on the way that management organizes the segments within the enterprise for making operating decisions and assessing performance. The Trust’s management views its operations as
one
segment and believes the only significant activity is managing the land which was conveyed to the Trust in
1888
and any other land thereafter acquired. The Trust’s management makes decisions about resource allocation and performance assessment based on the same financial information presented in these consolidated financial statements. Managing the land includes sales and leases of such land, and the retention of oil and gas royalties.