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Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.25.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net
Intangible assets, net consisted of the following as of December 31, 2024 and 2023 (in thousands):

December 31,
2024		 December 31,
2023
Intangible assets, at cost:
Saltwater disposal easement $ 17,557 $ 17,557
Contracts acquired in a business combination (1)
15,700 —
Groundwater rights acquired 3,846 3,846
Total intangible assets, at cost (2)
37,103 21,403
Less: accumulated amortization (1,915) (378)
Intangible assets, net $ 35,188 $ 21,025
(1)See further discussion in Note 3, “Assets Acquired in a Business Combination.”
(2)The remaining weighted average amortization period for total intangible assets was 11.8 years as of December 31, 2024.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The estimated future annual amortization expense of intangible assets for each of the next five years and thereafter is as follows (in thousands):
Year Estimated Future Annual Amortization Expense
2025 $ 2,342
2026 2,342
2027 2,342
2028 2,342
2029 2,342
2030 and thereafter 23,478