v3.26.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2026
Revenue Recognition and Deferred Revenue [Abstract]  
Schedule of Disaggregated revenues from sales of natural gas, oil and NGLs

The disaggregated revenues from sales of natural gas, oil and NGLs for the three and six months ended June 30, 2026, and 2025 were as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Natural gas sales

 

$

13,108

 

 

$

10,603

 

 

$

37,299

 

 

$

18,786

 

Oil sales

 

 

4,784

 

 

 

236

 

 

 

7,666

 

 

 

390

 

NGL sales

 

 

3,218

 

 

 

1,113

 

 

 

4,846

 

 

 

1,860

 

Less deductions for gathering, transportation and other

 

 

(3,297

)

 

 

(1,646

)

 

 

(6,382

)

 

 

(2,691

)

Total royalty revenues

 

$

17,813

 

 

$

10,306

 

 

$

43,429

 

 

$

18,345

 

Schedule of Concentration of Revenue During the three and six months ended June 30, 2026 and 2025, the following operators represented 10% or more of total revenues:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

EQT Production Company

 

 

26

%

 

 

52

%

 

 

30

%

 

 

52

%

Range Resources

 

 

11

%

 

 

18

%

 

 

11

%

 

 

17

%

CNX Gas Company

 

 

11

%

 

 

16

%

 

 

10

%

 

 

15

%

Total

 

 

48

%

 

 

86

%

 

 

51

%

 

 

84

%