Intangible assets, net consisted of the following as of March 31, 2026 and December 31, 2025 (in thousands):


	March 31, 2026		December 31, 2025
Intangible assets, at cost:
Saltwater disposal easement	$	17,557	$	17,557
Contracts acquired in a business combination	15,700		15,700
Groundwater rights acquired	3,846		3,846
Total intangible assets, at cost (1)	37,103		37,103
Less: accumulated amortization	(4,843)		(4,257)
Intangible assets, net	$	32,260	$	32,846

(1)The remaining weighted average amortization period for total intangible assets was 9.3 years as of March 31, 2026.

Amortization of intangible assets was $0.6 million for both the three months ended March 31, 2026 and 2025, respectively. The estimated future amortization expense of intangible assets for each of the next five years and thereafter is as follows (in thousands):


Year	Estimated Future Amortization Expense
Remainder of 2026	$	1,756
2027	2,342
2028	2,342
2029	2,342
2030	2,342
2031 and thereafter	21,136
Total expected amortization expense	$	32,260