Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Total Comprehensive Income

v3.21.2
Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Total revenues $ 95,932 $ 57,284 $ 180,087 $ 153,878
Expenses:        
Salaries and related employee expenses 13,271 8,937 23,250 19,557
Water service-related expenses 3,551 2,165 6,849 8,945
General and administrative expenses 2,841 2,448 5,647 5,407
Legal and professional fees 1,141 2,610 3,353 4,968
Land sales expenses 0 2,706 0 2,706
Depreciation, depletion and amortization 3,858 3,678 7,696 7,013
Total operating expenses 24,662 22,544 46,795 48,596
Operating income 71,270 34,740 133,292 105,282
Other income, net 406 183 411 1,009
Income before income taxes 71,676 34,923 133,703 106,291
Income tax expense 14,630 7,340 26,605 21,307
Net income 57,046 27,583 107,098 84,984
Other comprehensive income — periodic pension costs, net of income taxes of $8, $3, $15 and $7, respectively 29 13 57 27
Total comprehensive income $ 57,075 $ 27,596 $ 107,155 $ 85,011
Weighted average number of Sub-share Certificates outstanding, basic (in shares) 7,755,886 7,756,156 7,756,020 7,756,156
Weighted average number of Sub-share Certificates outstanding, diluted (in shares) 7,755,886 7,756,156 7,756,020 7,756,156
Net income per Sub-share Certificate — basic (in dollars per share) $ 7.36 $ 3.56 $ 13.81 $ 10.96
Net income per Sub-share Certificate — diluted (in dollars per share) 7.36 3.56 13.81 10.96
Cash dividends per Sub-share Certificate (in dollars per share) $ 2.75 $ 0 $ 5.50 $ 16.00
Oil and gas royalties        
Revenues:        
Total revenues $ 58,204 $ 20,513 $ 107,737 $ 62,873
Produced water royalties        
Revenues:        
Total revenues 15,458 13,111 28,007 25,617
Water sales        
Revenues:        
Total revenues 12,473 8,419 25,429 35,386
Easements and other surface-related income        
Revenues:        
Total revenues 8,977 11,656 18,024 25,417
Land sales        
Revenues:        
Total revenues 746 3,493 746 4,393
Other operating revenue        
Revenues:        
Total revenues $ 74 $ 92 $ 144 $ 192