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
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Total revenues $ 174,142 $ 146,362
Expenses:    
Salaries and related employee expenses 12,461 10,593
Water service-related expenses 10,212 5,656
General and administrative expenses 4,924 3,552
Legal and professional fees 4,057 16,628
Ad valorem and other taxes 2,357 1,574
Land sales expenses 250 3
Depreciation, depletion and amortization 3,840 3,404
Total operating expenses 38,101 41,410
Operating income 136,041 104,952
Other income, net 9,943 5,389
Income before income taxes 145,984 110,341
Income tax expense 31,567 23,773
Net income 114,417 86,568
Other comprehensive loss — periodic pension costs, net of income taxes of $6 for the three months ended March 31, 2024 and 2023 (21) (25)
Total comprehensive income $ 114,396 $ 86,543
Net income per share of common stock    
Basic (in dollars per share) $ 4.97 $ 3.75
Diluted (in dollars per share) $ 4.97 $ 3.75
Weighted average number of shares of common stock outstanding    
Basic (in shares) 23,003,001 23,079,251
Diluted (in shares) 23,020,249 23,095,193
Cash dividends per share of common stock (in dollars per share) $ 1.17 $ 1.08
Oil and gas royalties    
Revenues:    
Total revenues $ 92,120 $ 89,130
Water sales    
Revenues:    
Total revenues 37,126 21,729
Produced water royalties    
Revenues:    
Total revenues 23,006 20,134
Easements and other surface-related income    
Revenues:    
Total revenues 20,646 14,969
Land sales    
Revenues:    
Total revenues $ 1,244 $ 400