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Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.26.3
Intangible Assets
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] Ìý
Intangible Assets Intangible Assets
Intangible assets, net consisted of the following as of September 30, 2026 and December 31, 2025 (in thousands):

September 30,
2026		 December 31,
2025
Intangible assets, at cost:
Saltwater disposal easement $ 17,557Ìý $ 17,557Ìý
Contracts acquired in a business combination 15,700Ìý 15,700Ìý
Groundwater rights acquired 3,846Ìý 3,846Ìý
Total intangible assets, at cost (1)
37,103Ìý 37,103Ìý
Less: accumulated amortization (6,014) (4,257)
Intangible assets, net $ 31,089Ìý $ 32,846Ìý
(1)The remaining weighted average amortization period for total intangible assets was 8.4 years as of September 30, 2026.

Amortization of intangible assets was $0.6 million for each of the three months ended SeptemberÌý30, 2026 and 2025. Amortization of intangible assets was $1.8 million for each of the nine months ended SeptemberÌý30, 2026 and 2025. The estimated future amortization expense of intangible assets for each of the next five years and thereafter is as follows (in thousands):

Year Estimated Future Amortization Expense
Remainder of 2026 $ 585Ìý
2027 2,342Ìý
2028 2,342Ìý
2029 2,342Ìý
2030 2,342Ìý
2031 and thereafter 21,136Ìý
Total expected amortization expense $ 31,089Ìý