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

Intangible Assets (Tables)

v3.25.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net
Intangible assets, net consisted of the following as of December 31, 2025 and 2024 (in thousands):

December 31,
2025		 December 31,
2024
Intangible assets, at cost:
Saltwater disposal easement $ 17,557 $ 17,557
Contracts acquired in a business combination(1)
15,700 15,700
Groundwater rights acquired 3,846 3,846
Total intangible assets, at cost (2)
37,103 37,103
Less: accumulated amortization (4,257) (1,915)
Intangible assets, net $ 32,846 $ 35,188
(1)For further information, see Note 3, “Assets Acquired in a Business Combination.”
(2)The remaining weighted average amortization period for total intangible assets was 9.8 years as of December 31, 2025.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense 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
2026 $ 2,342
2027 2,342
2028 2,342
2029 2,342
2030 2,342
2031 and thereafter 21,136
Total expected amortization expense $ 32,846