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Revenue by Segment
Breaks down where sales and cash come from—royalties, working interests, mineral sales, and other services—revealing how reliant the company is on recurring royalty checks versus more volatile operational income and where growth or concentration risks lie.Natural gas and NGLs have become the growth engine, now accounting for the majority of oil & gas revenue as Haynesville development and strong well results boost volumes; oil & condensate contribution is drifting lower. Reported earnings swing dramatically from commodity-derivative marks—Q1 2026’s large derivative loss obscured otherwise solid cash flow and distribution coverage. Lease-bonus spikes point to active acreage monetizations. Management’s reiterated 2026 guidance and continued capital deployment support distributions, but operator incidents and commodity-price volatility remain near-term risks.
Date | Oil & Condensate Sales | Natural Gas & NGL Sales | Lease Bonus & Other Income | Gain on Commodity Derivative Instruments |
|---|---|---|---|---|
Jun 30, 2026 | $75.15M | $40.27M | $6.70M | $26.85M |
Mar 31, 2026 | $54.11M | $63.41M | $6.39M | -$64.55M |
Dec 31, 2025 | $46.37M | $44.11M | $4.71M | $23.52M |
Sep 30, 2025 | $57.09M | $43.09M | $5.01M | $27.29M |
Jun 30, 2025 | $55.81M | $46.19M | $4.71M | $52.78M |
Mar 31, 2025 | $50.09M | $58.23M | $6.92M | -$56.00M |
Dec 31, 2024 | $59.95M | $42.36M | $1.98M | -$20.57M |
Sep 30, 2024 | $64.00M | $37.04M | $2.14M | $31.68M |
Jun 30, 2024 | $73.89M | $36.49M | $4.79M | -$5.55M |
Mar 31, 2024 | $71.22M | $42.01M | $3.55M | -$11.29M |