v3.26.1
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2026
Intangible Asset, Finite-Lived [Line Items]  
Summary of Weighted Average Useful Lives by Class of Intangible Asset

The following table identifies the weighted average useful lives by class of intangible asset:

 

 

Weighted Average Remaining Useful Life
(in years)

 

Water rights

 

 

13.4

 

Surface rights

 

 

13.4

 

Saltwater disposal rights

 

 

13.8

 

Customer contract

 

 

12.9

 

Customer relationship

 

 

19.9

 

Sourced water

 

 

24.9

 

Summary of Definite Lived Intangible Assets

Definite lived intangible assets are comprised of the following at June 30, 2026 and December 31, 2025:

 

 

June 30, 2026

 

December 31, 2025

(in thousands)

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net

Water rights

$136,166

 

$(14,322)

 

$121,844

 

$136,166

 

$(9,783)

 

$126,383

Surface rights

60,550

 

(6,546)

 

54,004

 

60,550

 

(4,528)

 

56,022

Saltwater disposal rights

9,300

 

(775)

 

8,525

 

9,300

 

(465)

 

8,835

Customer contract

404,457

 

(4,006)

 

400,451

 

 

 

Customer relationships

49,605

 

(319)

 

49,286

 

 

 

Sourced water

40,285

 

(207)

 

40,078

 

 

 

 

 

 

Total

$700,363

 

$(26,175)

 

$674,188

 

$206,016

 

$(14,776)

 

$191,240

Summary of Estimated Remaining Amortization Expense

Estimated remaining amortization expense for the future periods is expected to be as follows:

 

(in thousands)

 

 

 

Year Ending December 31,

 

 

 

Remainder of 2026

 

$

23,441

 

2027

 

 

48,938

 

2028

 

 

48,938

 

2029

 

 

48,938

 

2030

 

 

48,938

 

Thereafter

 

 

454,995

 

Total future amortization

 

$

674,188