Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 894,704 $ 725,169
Accounts receivable and accrued receivables, net 119,102 128,971
Prepaid expenses and other current assets 3,878 2,944
Tax like-kind exchange escrow 0 5,380
Total current assets 1,017,684 862,464
Real estate acquired 130,800 130,024
Property, plant and equipment, net 95,511 89,587
Royalty interests acquired, net 45,583 46,609
Intangible assets, net 20,457 21,025
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
Other assets 5,756 6,689
Total assets 1,315,791 1,156,398
LIABILITIES AND EQUITY    
Accounts payable and accrued expenses 31,656 22,501
Ad valorem and other taxes payable 5,661 10,761
Income taxes payable 891 4,795
Unearned revenue 6,060 6,330
Total current liabilities 44,268 44,387
Deferred taxes payable 43,121 42,365
Unearned revenue - noncurrent 21,094 25,006
Accrued liabilities - noncurrent 887 1,444
Total liabilities 109,370 113,202
Commitments and contingencies 0 0
Equity:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none outstanding as of June 30, 2024 and December 31, 2023 0 0
Common stock, $0.01 par value; 46,536,936 and 7,756,156 shares authorized as of June 30, 2024 and December 31, 2023, respectively, and 22,983,392 and 23,007,681 (as adjusted for stock split) outstanding as of June 30, 2024 and December 31, 2023, respectively 231 78
Treasury stock, at cost; 102,684 and 86,929 shares as of June 30, 2024 and December 31, 2023, respectively (158,296) (144,998)
Additional paid-in capital 15,863 14,613
Accumulated other comprehensive income 1,789 1,831
Retained earnings 1,346,834 1,171,672
Total equity 1,206,421 1,043,196
Total liabilities and equity $ 1,315,791 $ 1,156,398
Preferred stock, authorized (in shares) 1,000,000 1,000,000
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