Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2019

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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 $256,000 and $10,000 for the six months ended June 30, 2019 and 2018, respectively.

During the first six months of 2019 and 2018, the Company sold or farmed out interests in certain non-core oil and natural gas properties and undeveloped acreage through a number of separate, individually negotiated transactions in exchange for cash or cash and a royalty or working interest in Texas, Oklahoma, Colorado and West Virginia. Proceeds under these agreements were $1.6 million and $2.8 million, respectively.

During the first six months of 2018, the Company acquired approximately 464 net mineral acres and working interest in 53 oil and gas wells for $6.08 million and sold or farmed out interests in certain non-core undeveloped oil and natural gas properties located in Oklahoma, Kansas, Colorado and Texas, in exchange for cash and a royalty or working interest, with proceeds of $2.19 million.