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Acquisitions
 6 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions

11. Acquisitions

 

In May 2025, the Company acquired royalty (mineral) interests in 2 producing wells operated by Chevron USA and located in Pecos County, Texas for a purchase price of $40,000. This acquisition was effective April 1, 2025 and includes acreage for future development.

 

In August 2025, the Company acquired royalty interests in 12 producing wells operated by Diamondback E & P and located in Martin County, Texas for a purchase price of $60,000 and royalty interests in 25 producing wells operated by Chevron USA and located in Weld County, Colorado for a purchase price of $26,000. These acquisitions were effective September 1, 2025.

 

Subsequently, in October 2025, the Company acquired royalty interests in 3 producing wells operated by Expand Operating and located in Caddo Parish, Louisiana for a purchase price of $31,000; royalty interests in 14 producing wells operated by Diamondback E & P and located in Martin County, Texas for a purchase price of $44,000; royalty interests in 3 producing wells operated by Permian Resources and located in Eddy County, New Mexico for a purchase price of $7,000; and, overriding royalty interest in 4 producing wells operated by Tap Rock Operating and located in Eddy County, New Mexico for a purchase price of $240,000. All of these acquisitions are effective November 1, 2025.