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Acquisitions and Dispositions | 12 Months Ended
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Dec. 31, 2021
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, w hich consist primarily of oil and gas interests. The Company purchased such non-controlling interests in an amount totaling $44,000 in 2021 and $22,000 in 2020. Such purchases resulted in the non-cash acquisition of non-controlling equity interests of $14,000 and $36,000 respectively. During 2021 and 2020 the Company liquidated partnerships for total cash payments of $632,000 and $720,000 respectively, resulting in the non-cash distribution of non-controlling interest of $647,000 and $1,550 million, respectively . Effective December 31, 2021, all managed partnerships and trusts have been liquidated. During 2020 the Company acquired 232 net acres, along with 15% to 16.6% working interest ownership in 53 oil and gas wells and one commercial salt water disposal well operated by the Company, all located in Reagan County, Texas, for $343,000. In addition, we acquired 9.36 net acre in Upton County, Texas at a cost of $5,100. During 2021 the Company acquired 5.9 net acres, located in Midland county, Texas, for approximately $29,500 and sold or farmed out interests in certain non-core undeveloped and developed oil and natural gas properties in Oklahoma. In Texas, the Company divested approximately 116 net mineral acres (NMA) located in Martin County, Texas for proceeds of $1.45 million. In the first quarter of 2022, the Company has sold 1809 net leasehold acres in Reagan and Midland Counties, Texas through two separate transactions receiving gross proceeds of $14.1 million.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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