Annual report pursuant to Section 13 and 15(d)

Oil and Gas Royalty Interests (Tables)

v3.25.0.1
Oil and Gas Royalty Interests (Tables)
 12 Months Ended
Dec. 31, 2024
Real Estate [Abstract]  
Schedule of Royalty Interests
As of December 31, 2024 and 2023, we owned the following oil and gas royalty interests (in thousands):
December 31,
2024		 December 31,
2023
Oil and gas royalty interests:
1/16th nonparticipating perpetual royalty interests (1)
$ —  $ — 
1/128th nonparticipating perpetual royalty interests (2)
—  — 
Royalty interests acquired, at cost (3)
447,071  51,494 
Total royalty interests 447,071  51,494 
Less: accumulated depletion (14,670) (4,885)
Royalty interests, net $ 432,401  $ 46,609 
(1) Nonparticipating perpetual royalty interests in 370,737 gross royalty acres as of December 31, 2024 and 2023.

(2)    Nonparticipating perpetual royalty interests in 84,934 gross royalty acres as of December 31, 2024 and 2023.

(3)    Royalty interest in 15,897 and 4,302 net royalty acres as of December 31, 2024 and 2023, respectively.