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ACQUISITIONS | 6 Months Ended
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Jun. 30, 2024
ACQUISITIONS |
ACQUISITIONS | 3.ACQUISITION S ​ Acquisition Agreement ​ On January 27, 2023, we entered into a one-year collaborative agreement with a third party, effective January 1, 2023, committing up to $35.0 million for the acquisition of oil & gas mineral interests in the Midland and Delaware Basins. On February 19, 2024, we renewed this agreement for an additional one-year term, committing up to $25.0 million. Under the agreement, the third party assists us in the identification, evaluation, and acquisition of target oil & gas mineral interests. In exchange for these services, the third party receives a participation share, partially funded by the third party, and is paid a periodic management fee. During the six months ended June 30, 2024, we purchased $0.6 million and $1.9 million of oil & gas mineral interests in proved and unproved properties, respectively, pursuant to this agreement. Management fees paid under this agreement have been immaterial. ​ Miscellaneous Acquisitions ​ In addition to the acquisitions under the collaborative agreement discussed above, we purchased $0.6 million and $1.6 million of oil & gas mineral interests in proved and unproved properties, respectively, during the six months ended June 30, 2024. ​

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