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Acquisitions and Dispositions
3 Months Ended
Mar. 31, 2017
Business Combinations [Abstract]  
Acquisitions and Dispositions

(2) Acquisitions and Dispositions:

Historically the Company has repurchased the interests of the partners and trust unit holders in the oil and gas limited partnerships (the “Partnerships”) and the asset and business income trusts (the “Trusts”) managed by the Company as general partner and as managing trustee, respectively. The Company purchased such interests in amounts totaling $60,000 and $1,000 for the three months ended March 31, 2017 and 2016, respectively.

During the first quarter of 2017, the Company 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 were $46.4 million.