Oil and Gas Royalty Interests |
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| Real Estate [Abstract] | 听 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Oil and Gas Royalty Interests | Oil and Gas Royalty InterestsAs of December 31, 2022 and 2021, we owned the following oil and gas royalty interests (in thousands):
(1)听听听听Nonparticipating perpetual royalty interests in 370,737 gross royalty acres as of December 31, 2022 and 2021.
(2)听听听听Nonparticipating perpetual royalty interests in 84,934 gross royalty acres as of December 31, 2022 and 2021.
(3)听听听听Royalty interest in 4,182 and 4,090 net royalty acres as of December 31, 2022 and 2021, respectively.
Royalty Interests Assigned Through the 1888 Declaration of Trust
听
The fair market value of the Trust鈥檚 Assigned royalty interests was not determined in 1888 when the Trust was formed, and accordingly, these Assigned royalty interests were recorded with no value. See Note 2, 鈥淪ummary of Significant Accounting Policies 鈥 Real Estate and Royalty Interests Assigned Through the 1888 Declaration of Trust鈥 for further information regarding the Assigned royalty interests. The Assigned royalty interests include 1/16th and 1/128th royalty interests.
Royalty Interests Transactions
For the year ended December 31, 2022, we acquired oil and gas royalty interests in 92 net royalty acres (normalized to 1/8th) for an aggregate purchase price of approximately $1.7 million, an average price of approximately $18,025 per net royalty acre.
There were no oil and gas royalty interest transactions for the year ended December 31, 2021.
For the year ended December 31, 2020, we acquired oil and gas royalty interests in 1,017 net royalty acres (normalized to 1/8th) for an aggregate purchase price of $16.9 million, an average price of approximately $16,668 per net royalty acre.
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