v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 543,930 $ 369,835
Accounts receivable and accrued receivables, net 114,314 126,670
Prepaid expenses and other current assets 9,256 5,318
Tax like-kind exchange escrow 0 1,546
Total current assets 667,500 503,369
Royalty interests acquired, net 416,048 432,401
Real estate acquired 147,683 143,178
Property, plant and equipment, net 127,949 122,578
Intangible assets, net 34,017 35,188
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
Other assets 11,467 11,306
Total assets 1,404,664 1,248,020
LIABILITIES AND EQUITY    
Accounts payable and accrued expenses 26,987 26,958
Ad valorem and other taxes payable 4,958 8,418
Income taxes payable 4,181 4,388
Unearned revenue 9,000 6,797
Total current liabilities 45,126 46,561
Deferred taxes payable 48,730 47,401
Unearned revenue - noncurrent 21,218 20,636
Accrued liabilities - noncurrent 646 957
Total liabilities 115,720 115,555
Commitments and contingencies (Note 12) 0 0
Equity:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized, none outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; 46,536,936 shares authorized as of June 30, 2025 and December 31, 2024, 22,987,326 and 22,971,803 outstanding as of June 30, 2025 and December 31, 2024, respectively 231 231
Treasury stock, at cost; 98,750 and 114,273 shares as of June 30, 2025 and December 31, 2024, respectively (144,727) (168,843)
Additional paid-in capital 5,433 19,900
Accumulated other comprehensive income 3,505 3,583
Retained earnings 1,424,502 1,277,594
Total equity 1,288,944 1,132,465
Total liabilities and equity 1,404,664 1,248,020
Land (surface rights)    
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
Land (surface rights) 0 0
1/16th and 1/128th nonparticipating perpetual royalty interests    
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned:    
1/16th and 1/128th nonparticipating perpetual royalty interests $ 0 $ 0