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Supplemental Oil and Gas Disclosures (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Oil and Natural Gas Properties

Aggregate capitalized costs related to oil and gas royalty and mineral interests with applicable accumulated depreciation, depletion and amortization at December 31 are as follows:


	2022		2021
Proved developed	$	7,302	$	3,266
Proved undeveloped	24,134		16,246
Proved reserves	31,436		19,512
Less: accumulated depreciation, depletion and amortization	1,936		868
Net royalty interests in oil and natural gas properties	$	29,500	$	18,644

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities

The following table presents the Company's estimated net proved oil and natural gas reserves as of December 31 based on the reserve report prepared by Haas Engineering, the Company’s independent petroleum engineering firm. All of the Company’s reserves are located in the United States.


	Net reserves as of December 31, 2022
	Oil (bbl) (1)	NGL (bbl) (1)	Residue gas (Mcf) (2)
Proved developed	305,710	408,280	25,907,890
Proved undeveloped	32,570	11,030	1,784,670
Total	338,280	419,310	27,692,560


	Net reserves as of December 31, 2021
	Oil (bbl) (1)	NGL (bbl) (1)	Residue gas (Mcf) (2)
Proved developed	167,430	282,230	16,617,360
Proved undeveloped	220	90	1,210
Total	167,650	282,320	16,618,570

(1) Bbl. One stock tank barrel, or 42 U.S. gallons liquid volume.

(2) Mcf. One thousand cubic feet of natural gas at the contractual pressure and temperature bases.

Schedule of Change in Estimated Proved Reserves of Oil and Gas Quantities

The following table summarizes changes in proved reserves during the year ended December 31, 2022:


	Estimated Proved Reserves
	Oil (bbl) (1)	NGL (bbl) (1)	Residue gas (Mcf) (2)
December 31, 2021	167,650	282,320	16,618,570
Purchases	99,345	35,222	202,314
Extensions and discoveries	121,542	68,167	12,801,109
Revisions of previous estimates (3)	(2,504)	95,577	5,405,803
Production	(46,571)	(61,511)	(7,329,985)
Other	(1,182)	(465)	(5,251)
December 31, 2022	338,280	419,310	27,692,560

(1) Bbl. One stock tank barrel, or 42 U.S. gallons liquid volume.

(2) Mcf. One thousand cubic feet of natural gas at the contractual pressure and temperature bases.

(3) Revisions of previous estimates include technical revisions due to changes in commodity prices, historical and projected performance and other factors.

Schedule of Change in Estimated Proved Undeveloped Reserves of Oil and Gas Quantities

The following table summarizes changes in PUDs during the year ended December 31, 2022:


	Estimated Proved Undeveloped Reserves
	Oil (bbl) (1)	NGL (bbl) (1)	Residue gas (Mcf) (2)
December 31, 2021	220	90	1,210

Purchases	21,790	5,104	38,571
Extensions and discoveries	10,780	5,926	1,746,099
Revisions of previous estimates (3)	(220)	(90)	(1,210)

December 31, 2022	32,570	11,030	1,784,670

(1) Bbl. One stock tank barrel, or 42 U.S. gallons liquid volume.

(2) Mcf. One thousand cubic feet of natural gas at the contractual pressure and temperature bases.

(3) Revisions of previous estimates include technical revisions due to changes in commodity prices, historical and projected performance and other factors.

Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure

The following table provides the future net cash flows relating to proved oil and gas reserves based on the standardized measure of discounted cash flows as of December 31, 2022:


	Gross Amounts		Statutory tax rate		Net Amounts
Future cash inflows	$	218,982
Future production costs	39,841
Future net cash flows before income tax expense	179,141		21	%	141,521
10% discount to reflect timing of cash flows	(62,615)		21	%	(49,465)
Standardized measure of discounted cash flows	$	116,526	21	%	$	92,056

The following table provides the future net cash flows relating to proved oil and gas reserves based on the standardized measure of discounted cash flows as of December 31, 2021:


	Gross Amounts		Statutory tax rate		Net Amounts
Future cash inflows	$	71,400
Future production costs	14,664
Future net cash flows before income tax expense	56,736		21	%	44,821
10% discount to reflect timing of cash flows	(19,897)		21	%	(15,719)
Standardized measure of discounted cash flows	$	36,839	21	%	$	29,102

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows

The following summarizes the principal sources of change in the standardized measure of discounted future net cash flows during 2022:


	Gross amounts
December 31, 2021	$	36,839

Purchases	6,236
Extensions and discoveries	54,795
Revisions of previous estimates (3)	18,695
Other	(39)
December 31, 2022	$	116,526

(3) Revisions of previous estimates include technical revisions due to changes in commodity prices, historical and projected performance and other factors.

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

+ References + Details