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Acquisitions and Dispositions
12 Months Ended
Dec. 31, 2016
Business Combinations [Abstract]  
Acquisitions and Dispositions

2. Acquisitions and Dispositions

Historically, the Company has repurchased the non-controlling interests of the partners and trust unit holders in certain of the Partnerships, which consist primarily of oil and gas interests. The Company purchased such non-controlling interests in an amount totaling $224,000 in 2016 and $409,000 in 2015.

During 2016, the Company has sold or farmed out interests in certain non-core undeveloped oil and natural gas properties through a number of separate, individually negotiated transactions in exchange for cash and a royalty or working interest in both West Texas and Oklahoma. Proceeds under these agreements are $34.4 million. The Company has entered into an agreement and closed on the sale of additional non-core acreage for an $46.9 million during the first quarter of 2017.