Oil and Gas Royalty Interests (Tables)

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

Schedule of Royalty Interests

As of December 31, 2023 and 2022, we owned the following oil and gas royalty interests (in thousands):

	December 31, 2023		December 31, 2022
Oil and gas royalty interests:
1/16th nonparticipating perpetual royalty interests (1)	$	—	$	—
1/128th nonparticipating perpetual royalty interests (2)	—		—
Royalty interests acquired, at cost (3)	51,494		47,928
Total royalty interests	51,494		47,928
Less: accumulated depletion	(4,885)		(2,903)
Royalty interests, net	$	46,609	$	45,025

(1)    Nonparticipating perpetual royalty interests in 370,737 gross royalty acres as of December 31, 2023 and 2022.

(2)    Nonparticipating perpetual royalty interests in 84,934 gross royalty acres as of December 31, 2023 and 2022.

(3)    Royalty interest in 4,302 and 4,182 net royalty acres as of December 31, 2023 and 2022, respectively.