Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Total Comprehensive Income

v3.19.1
Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Total revenues $ 191,324 $ 60,007
Expenses:    
Salaries and related employee expenses 6,464 2,563
Water service-related expenses 4,578 1,306
General and administrative expenses 2,142 680
Legal and professional fees 1,783 647
Depreciation and amortization 1,204 330
Total operating expenses 16,171 5,526
Operating income 175,153 54,481
Other income 393 130
Income before income taxes 175,546 54,611
Income tax expense    
Current 14,548 10,820
Deferred 21,000 0
Total income tax expense 35,548 10,820
Net income 139,998 43,791
Other comprehensive income — periodic pension costs, net of income taxes of $2 and $3, respectively 9 13
Total comprehensive income $ 140,007 $ 43,804
Weighted average number of Sub-share Certificates outstanding (in shares) 7,759,808 7,818,168
Net income per Sub-share Certificate — basic and diluted (in dollars per share) $ 18.04 $ 5.60
Cash dividends per Sub-share Certificate (in dollars per share) $ 6 $ 4.05
Oil and gas royalties    
Revenues:    
Total revenues $ 33,213 $ 26,547
Easements and other surface-related income    
Revenues:    
Total revenues 31,367 16,978
Water sales and royalties    
Revenues:    
Total revenues 22,983 13,607
Land sales    
Revenues:    
Total revenues 103,625 2,750
Other operating revenue    
Revenues:    
Total revenues $ 136 $ 125