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Acquisitions and Dispositions | 12 Months Ended
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Dec. 31, 2022
Business Combinations [Abstract] |
Acquisitions and Dispositions | 2. Acquisitions and Dispositions 2022 Transactions : In the first quarter of 2022, the Company sold 1,809 net leasehold acres in Reagan and Midland Counties, Texas through two separate transactions receiving gross proceeds of $ 14.0 million. In the second quarter of 2022, the Company sold 241 net acres in Canadian County, Oklahoma for $ 845,000 . In the third quarter of 2022, the Company sold an additional 113 net acres in Canadian County, Oklahoma for $ 423,700 . On November 14, 2022, the Company completed an acreage exchange of approximately 725 net acres in the Midland Basin creating a block of 1,200 contiguous acres. The Company entered into an agreement, including this acreage, to create a 2,560-acre AMI for the joint development of horizontal wells. As part of the agreement, the Company sold a portion of its interest in this acreage to the joint development partner for proceeds of $16.1 million. 2021 Transaction s : 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. During 2021 the Company liquidated partnerships for total cash payments of $632,000, resulting in the non-cash distribution of non-controlling interest of $647,000. Effective December 31, 2021, all managed partnerships and trusts were liquidated.

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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 https://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 https://asc.fasb.org/topic&trid=2303972 + Details
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