Acquisitions and Dispositions

9 Months Ended

Sep. 30, 2019

(

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 $306,000 and $10,000 for the nine months ended September 30, 2019 and 2018, respectively.

During the first nine 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

, Kansas

and

Wyoming

. Proceeds under these agreements were $1.6 million and $3 million, respectively.

During the first

nine

months of 2018, the Company acquired approximately 464 net mineral acres and working interest in 53 oil and gas wells for $6.08 million.