Properties And Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Summary of Acquisitions

Acquisitions

Quarter Ended	Net royalty acres (1)(2)	Total Purchase Price (1)(3)	% Proved / % Unproved	Area of Interest
December 31, 2024
	363	$2.5 million	85% / 15%	Haynesville
September 30, 2024
	325	$3.0 million	78% / 22%	Haynesville / SCOOP
June 30, 2024
	96	$0.9 million	59% / 41%	Haynesville / SCOOP
March 31, 2024
	146	$1.4 million	5% / 95%	SCOOP
December 31, 2023
	325	$4.3 million	72% / 28%	Haynesville / SCOOP
September 30, 2023
	974	$13.4 million	81% / 19%	Haynesville / SCOOP
June 30, 2023
	151	$1.8 million	29% / 71%	Haynesville / SCOOP
March 31, 2023
	912	$10.8 million	44% / 56%	Haynesville / SCOOP

(1) Excludes subsequent closing adjustments and insignificant acquisitions.

(2) An estimated net royalty equivalent was used for the unleased minerals included in the net royalty acres.

(3) Table excludes transaction costs of $0.1 million and $0.3 million, respectively, that were capitalized during the years ended December 31, 2024 and 2023.

Summary of Divestitures

Divestitures

Quarter Ended	Net mineral acres(1)/ Wellbores(2)	Sale Price (3)	Gain/(Loss) (3)	Location
December 31, 2024
	No significant divestitures
September 30, 2024
	No significant divestitures
June 30, 2024
	1,005 acres	$0.5 million	$0.4 million	TX
March 31, 2024
	No significant divestitures
December 31, 2023
	No significant divestitures
September 30, 2023
	729 acres	$0.3 million	$0.2 million	OK
June 30, 2023
	No significant divestitures
March 31, 2023
	755 acres	$0.3 million	$0.3 million	OK / TX
	267 wellbores	$10.7 million	$4.1 million	OK / TX

(1) Number of net mineral acres sold.

(2) Number of gross wellbores associated with working interests sold.

(3) Excludes subsequent closing adjustments and immaterial divestitures.

Schedule of Asset Retirement Obligations

The following table shows the activity for the years ended December 31, 2024 and 2023, relating to the Company’s asset retirement obligations:

	Year Ended December 31,
	2024			2023
Asset retirement obligations as of beginning of the period	$	1,062,139		$	1,916,932
Wells acquired or drilled		-			-
Wells sold or plugged		(8,214	)		(898,231	)
Accretion of discount		43,825			43,438
Asset retirement obligations as of end of the period	$	1,097,750		$	1,062,139