Oil and Gas Producing Activities |
3 Months Ended |
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Mar. 31, 2023 | |
| Extractive Industries [Abstract] | |
| Oil and Gas Producing Activities | Oil and Gas Producing Activities We measure our share of oil and gas produced in barrels of equivalency (“Boes”). One Boe equals one barrel of crude oil, condensate, NGLs (natural gas liquids) or approximately 6,000 cubic feet of gas. As of March 31, 2023 and 2022, our share of oil and gas produced was approximately 20.9 and 20.8 thousand Boes per day, respectively. Reserves related to our royalty interests are not presented because the information is unavailable.
There are a number of oil and gas wells that have been drilled but are not yet completed (“DUC”) where we have a royalty interest. The number of DUC wells is determined using uniform drilling spacing units with pooled interests for all wells awaiting completion. We have identified 565 and 584 DUC wells subject to our royalty interest as of March 31, 2023 and December 31, 2022, respectively.
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- References No definition available.
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- Definition The entire disclosure for oil and gas producing industries. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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