Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND TOTAL COMPREHENSIVE INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND TOTAL COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 176,270 $ 95,932 $ 323,605 $ 180,087
Expenses:        
Salaries and related employee expenses 9,588 13,271 18,973 23,250
Water service-related expenses 3,915 3,551 6,697 6,849
General and administrative expenses 3,705 2,841 6,705 5,647
Legal and professional fees 1,163 1,141 2,882 3,353
Ad valorem taxes 2,011 0 4,021 0
Depreciation, depletion and amortization 4,180 3,858 8,306 7,696
Total operating expenses 24,562 24,662 47,584 46,795
Operating income 151,708 71,270 276,021 133,292
Other income, net 630 406 706 411
Income before income taxes 152,338 71,676 276,727 133,703
Income tax expense 33,444 14,630 59,933 26,605
Net income 118,894 57,046 216,794 107,098
Other comprehensive income — periodic pension costs, net of income taxes for the three and six months ended June 30, 2022 and 2021 of $2, $8, $4, and $15, respectively 8 29 16 57
Total comprehensive income $ 118,902 $ 57,075 $ 216,810 $ 107,155
Net income per share of common stock        
Net income per sub-share certificate - basic (in dollars per share) $ 15.37 $ 7.36 $ 28.02 $ 13.81
Net income per sub-share certificate - diluted (in dollars per share) $ 15.37 $ 7.36 $ 28.01 $ 13.81
Weighted average number of shares of common stock outstanding        
Weighted average number of shares of common stock outstanding - basic (in shares) 7,733,730 7,755,886 7,737,527 7,756,020
Weighted average number of shares of common stock outstanding - diluted (in shares) 7,737,112 7,755,886 7,739,859 7,756,020
Dividend paid per common stock (in USD per share) $ 23.00 $ 2.75 $ 26.00 $ 5.50
Oil and gas royalties        
Revenues:        
Total revenues $ 121,268 $ 58,204 $ 225,440 $ 107,737
Water sales        
Revenues:        
Total revenues 22,272 12,473 41,092 25,429
Produced water royalties        
Revenues:        
Total revenues 18,669 15,458 33,539 28,007
Easements and other surface-related income        
Revenues:        
Total revenues 13,990 8,977 23,182 18,024
Land sales and other operating revenue        
Revenues:        
Total revenues $ 71 $ 820 $ 352 $ 890