Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 533,914 $ 725,169
Accounts receivable and accrued receivables, net 122,627 128,971
Prepaid expenses and other current assets 48,426 2,944
Tax like-kind exchange escrow 0 5,380
Prepaid income taxes 4,002 0
Total current assets 708,969 862,464
Real estate acquired 142,727 130,024
Property, plant and equipment, net 119,108 89,587
Royalty interests acquired, net 164,028 46,609
Intangible assets, net 35,773 21,025
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
Other assets 4,964 6,689
Total assets 1,175,569 1,156,398
LIABILITIES AND EQUITY    
Accounts payable and accrued expenses 40,560 22,501
Ad valorem and other taxes payable 7,860 10,761
Income taxes payable 2,217 4,795
Unearned revenue 6,694 6,330
Total current liabilities 57,331 44,387
Deferred taxes payable 44,528 42,365
Unearned revenue - noncurrent 20,625 25,006
Accrued liabilities - noncurrent 953 1,444
Total liabilities 123,437 113,202
Commitments and contingencies 0 0
Equity:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none outstanding as of September 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 September 30, 2024 and December 31, 2023, respectively, and 22,977,125 and 23,007,681 (as adjusted for stock split) outstanding as of September 30, 2024 and December 31, 2023, respectively 231 78
Treasury stock, at cost; 108,951 and 86,929 shares as of September 30, 2024 and December 31, 2023, respectively (162,416) (144,998)
Additional paid-in capital 16,391 14,613
Accumulated other comprehensive income 1,768 1,831
Retained earnings 1,196,158 1,171,672
Total equity 1,052,132 1,043,196
Total liabilities and equity 1,175,569 1,156,398
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