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 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Total revenues $ 191,111 $ 123,693 $ 514,716 $ 303,780
Expenses:        
Salaries and related employee expenses 10,697 8,542 29,670 31,792
Water service-related expenses 6,348 3,650 13,045 10,499
General and administrative expenses 3,153 2,844 9,858 8,491
Legal and professional fees 2,106 1,551 4,988 4,904
Ad valorem taxes 2,835 0 6,856 0
Depreciation, depletion and amortization 3,917 3,866 12,223 11,562
Total operating expenses 29,056 20,453 76,640 67,248
Operating income 162,055 103,240 438,076 236,532
Other income, net 1,920 513 2,626 924
Income before income taxes 163,975 103,753 440,702 237,456
Income tax expense 34,138 19,916 94,071 46,521
Net income 129,837 83,837 346,631 190,935
Other comprehensive income — periodic pension costs, net of income taxes for the three and nine months ended September 30, 2022 and 2021 of $3, $8, $8, and $23, respectively 8 29 24 86
Total comprehensive income $ 129,845 $ 83,866 $ 346,655 $ 191,021
Net income per share of common stock        
Net income per sub-share certificate - basic (in dollars per share) $ 16.83 $ 10.82 $ 44.84 $ 24.62
Net income per sub-share certificate - diluted (in dollars per share) $ 16.82 $ 10.82 $ 44.82 $ 24.62
Weighted average number of shares of common stock outstanding        
Weighted average number of shares of common stock outstanding - basic (in shares) 7,714,796 7,751,329 7,729,866 7,754,439
Weighted average number of shares of common stock outstanding - diluted (in shares) 7,720,221 7,751,329 7,733,505 7,754,439
Dividend paid per common stock (in USD per share) $ 3.00 $ 2.75 $ 29.00 $ 8.25
Oil and gas royalties        
Revenues:        
Total revenues $ 130,298 $ 79,098 $ 355,738 $ 186,835
Water sales        
Revenues:        
Total revenues 24,426 19,554 65,518 44,983
Produced water royalties        
Revenues:        
Total revenues 19,129 15,140 52,668 43,147
Easements and other surface-related income        
Revenues:        
Total revenues 14,129 9,832 37,311 27,856
Land sales and other operating revenue        
Revenues:        
Total revenues $ 3,129 $ 69 $ 3,481 $ 959