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v3.25.4

Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2025
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 5. Property, Plant and Equipment Property, plant and equipment, net of accumulated depreciation and depletion consisted of the following:
|  | Year Ended December 31, |
|  | 2025 |  |  | 2024 |
Oil and natural gas properties |  |  |  |  |  |
Proved |  | $ | 36,179 |  |  | $ | 36,068 |
Unproved |  |  | 2,932 |  |  |  | 3,043 |
Total oil and natural gas properties |  |  | 39,111 |  |  |  | 39,111 |
Land and land improvements |  |  | 1,031,128 |  |  |  | 855,092 |
Water wells, pipelines, facilities, ponds and related equipment |  |  | 29,981 |  |  |  | 21,109 |
Buildings, vehicles, equipment, furniture and other |  |  | 7,778 |  |  |  | 5,162 |
Construction in progress |  |  | 107 |  |  |  | 14 |
|  |  | 1,108,105 |  |  |  | 920,488 |
Less: accumulated depreciation and depletion |  |  | (23,655 | ) |  |  | (17,746 | )
Total property, plant and equipment, net |  | $ | 1,084,450 |  |  | $ | 902,742 |
Depreciation expense and depletion expense for the years ended December 31, 2025, 2024 and 2023 are shown in the following table:
|  | Year Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Depreciation expense |  | $ | 3,289 |  |  | $ | 2,616 |  |  | $ | 2,357 |
Depletion expense |  |  | 2,740 |  |  |  | 3,575 |  |  |  | 4,050 |
Total depreciation and depletion expense |  | $ | 6,029 |  |  | $ | 6,191 |  |  | $ | 6,407 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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