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Statements of Income (USD $)
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12 Months Ended | ||
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Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2009
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| Income: | |||
| Oil and gas royalties | $ 14,685,502 | $ 11,573,563 | $ 8,686,187 |
| Grazing lease rentals | 499,400 | 506,211 | 492,802 |
| Land sales | 11,873,112 | 2,738,070 | 523,010 |
| Interest income from notes receivable | 879,749 | 1,082,019 | 1,216,480 |
| Easements and sundry income | 6,362,745 | 4,166,102 | 2,166,381 |
| 34,300,508 | 20,065,965 | 13,084,860 | |
| Expenses: | |||
| Taxes, other than income taxes | 922,951 | 775,380 | 611,448 |
| Salaries and related employee benefits | 1,002,489 | 1,003,748 | 999,116 |
| General expense, supplies, and travel | 571,705 | 537,127 | 519,613 |
| Basis in real estate sold | 36,445 | ||
| Legal and professional fees | 1,008,853 | 1,327,845 | 913,206 |
| Depreciation | 12,675 | 15,391 | 42,141 |
| Trustees’ compensation | 8,000 | 8,000 | 8,000 |
| 3,563,118 | 3,667,491 | 3,093,524 | |
| Operating income | 30,737,390 | 16,398,474 | 9,991,336 |
| Interest income earned from investments | 18,528 | 25,707 | 53,427 |
| Income before income taxes | 30,755,918 | 16,424,181 | 10,044,763 |
| Income taxes (note 6): | |||
| Current | 11,318,631 | 5,545,503 | 3,620,265 |
| Deferred | (1,157,482) | (430,033) | (489,545) |
| 10,161,149 | 5,115,470 | 3,130,720 | |
| Net income | $ 20,594,769 | $ 11,308,711 | $ 6,914,043 |
| Net income per Sub-share Certificate (in Dollars per share) | $ 2.21 | $ 1.17 | $ 0.69 |
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- Definition
Basis in real estate sold. No definition available.
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- Details
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- Details
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- Details
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The change during the period in the entity's deferred tax assets and liabilities attributable to continuing operations as determined by applying enacted tax laws other than federal, domestic, foreign, state or local. Items affecting deferred income taxes and required to be disclosed, but not included elsewhere, would also be designated as "Other"; for example, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity and adjustments to be beginning-of-year balance of a valuation allowance because of a change in circumstance that causes a change in judgment about the realizability of the related deferred tax asset in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest and fee income derived from loans not otherwise specified in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue from the sale of land in the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fees charged annually for the professional services of a trustee, usually quoted as a percentage of the funds being managed. The fee for appointing an offshore Trustee is included in the trust price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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