Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 725,169 $ 510,834
Accounts receivable and accrued receivables, net 128,971 103,983
Prepaid expenses and other current assets 2,944 7,427
Tax like-kind exchange escrow 5,380 6,348
Prepaid income taxes 0 4,809
Total current assets 862,464 633,401
Real estate acquired 130,024 109,704
Property, plant and equipment, net 89,587 85,478
Royalty interests acquired, net 46,609 45,025
Intangible assets, net 21,025 0
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
Operating lease right-of-use assets 1,861 2,525
Other assets 4,828 1,294
Total assets 1,156,398 877,427
LIABILITIES AND EQUITY    
Accounts payable and accrued expenses 22,501 23,443
Ad valorem and other taxes payable 10,761 8,497
Income taxes payable 4,795 3,167
Unearned revenue 6,330 4,488
Total current liabilities 44,387 39,595
Deferred taxes payable 42,365 41,151
Unearned revenue - noncurrent 25,006 21,708
Operating lease liabilities 1,170 1,955
Accrued liabilities - noncurrent 274 131
Total liabilities 113,202 104,540
Commitments and contingencies 0 0
Equity:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none outstanding as of December 31, 2023 and 2022 0 0
Common stock, $0.01 par value; 7,756,156 shares authorized and 7,669,227 and 7,695,679 outstanding as of December 31, 2023 and 2022, respectively 78 78
Treasury stock, at cost; 86,929 and 60,477 shares as of December 31, 2023 and 2022, respectively (144,998) (104,139)
Additional paid-in capital 14,613 8,293
Accumulated other comprehensive income 1,831 2,516
Retained earnings 1,171,672 866,139
Total equity 1,043,196 772,887
Total liabilities and equity 1,156,398 877,427
Land (surface rights)    
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
Land (surface rights) 0 0
1/16th nonparticipating perpetual royalty interest    
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
1/16th nonparticipating perpetual royalty interest 0 0
1/128th nonparticipating perpetual royalty interest    
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
1/128th nonparticipating perpetual royalty interest $ 0 $ 0