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Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.25.1
Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] 听
Intangible Assets Intangible Assets
Intangible assets, net consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):

听 March 31,
2025		 December 31,
2024
Intangible assets, at cost: 听 听
Saltwater disposal easement $ 17,557听 $ 17,557听
Contracts acquired in a business combination 15,700听 15,700听
Groundwater rights acquired 3,846听 3,846听
Total intangible assets, at cost (1)
37,103听 37,103听
Less: accumulated amortization (2,501) (1,915)
Intangible assets, net $ 34,602听 $ 35,188听
(1)The remaining weighted average amortization period for total intangible assets was 11.3 years as of March 31, 2025.

Amortization of intangible assets was $0.6 million and $0.3 million for the three months ended March听31, 2025 and 2024, respectively. The estimated future amortization expense of intangible assets for each of the next five years and thereafter is as follows (in thousands):
Year Estimated Future Amortization Expense
Remainder of 2025 $ 1,756听
2026 2,342听
2027 2,342听
2028 2,342听
2029 2,342听
2030 and thereafter 23,478听
Total expected amortization expense $ 34,602听