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Annual report [Section 13 and 15(d), not S-K Item 405]

Oil and Gas Royalty Interests - Narrative (Details)

v3.25.4
Oil and Gas Royalty Interests - Narrative (Details)
$ in Thousands
1 Months Ended 12 Months Ended
Nov. 30, 2025
USD ($)
a
Mar. 31, 2025
USD ($)
a
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
a
acquistion
Dec. 31, 2023
USD ($)
Real Estate Properties [Line Items] Ìý Ìý Ìý Ìý Ìý
Acquisition of royalty interests Ìý Ìý $ 454,244 $ 395,577 $ 3,566
Number of acquisitions | acquistion Ìý Ìý Ìý 2 Ìý
Post-close adjustment from seller related to curative title defects Ìý Ìý 3,878 $ 0 0
Depletion expense Ìý Ìý $ 42,700 $ 9,800 $ 2,000
Midland Basin in Martin, Howard, Midland, and Other Countries Ìý Ìý Ìý Ìý Ìý
Real Estate Properties [Line Items] Ìý Ìý Ìý Ìý Ìý
Acquisition of royalty interests $ 450,700 Ìý Ìý Ìý Ìý
1/16th nonparticipating perpetual royalty interest Ìý Ìý Ìý Ìý Ìý
Real Estate Properties [Line Items] Ìý Ìý Ìý Ìý Ìý
Nonparticipating perpetual royalty interest rate (in percentage) Ìý Ìý 6.25% 6.25% Ìý
1/128th nonparticipating perpetual royalty interest Ìý Ìý Ìý Ìý Ìý
Real Estate Properties [Line Items] Ìý Ìý Ìý Ìý Ìý
Nonparticipating perpetual royalty interest rate (in percentage) Ìý Ìý 0.78125% 0.78125% Ìý
Additional real estate acquisitions Ìý Ìý Ìý Ìý Ìý
Real Estate Properties [Line Items] Ìý Ìý Ìý Ìý Ìý
Net royalty interests (in acres) | a 17,306 177 Ìý 11,596 Ìý
Acquisition of royalty interests Ìý $ 3,500 Ìý $ 395,500 Ìý