24 unchanged sentences
The following table sets forth, as of December 31, 2022, the combined summary of total gross and net acres, where applicable, of mineral, royalty, overriding royalty and leasehold interests in each of the states in which these interests are located.
+Added: West Virginia
Leasing Activity
−Removed: We received $0.8 million during 2021 attributable to lease bonus on 15 leases or extension of existing leases and one pooling election in lands located in eight counties in four states.
+Added: We received $8.7 million during 2022 attributable to lease bonus on 28 leases or extension of existing leases and three pooling elections in lands located in 17 counties in four states.
These leases reflected bonus payments ranging up to $30,000/acre and initial royalty terms ranging up to 25%.
6 unchanged sentences
Based on net acreage weighted average.
−Removed: Payments received for gas storage, shut-in and delay rental payments, coal royalty, surface use agreements, litigation judgments and settlement proceeds are reflected in our accompanying consolidated financial statements in other operating revenues.
+Added: Payments received for shut-in and delay rental payments, coal royalty, surface use agreements, litigation judgments and settlement proceeds are reflected in our accompanying consolidated financial statements in other operating revenues.
Net Profits Interests
30 unchanged sentences
The following table sets forth first payments received for new wells completed on our Royalty Properties and NPI Properties during 2022.
−Removed: The majority of the activity was concentrated in the Permian Basin and Bakken region. Included in the table below are wells in which we own both a royalty interest and a net profits interest.
+Added: The majority of the activity was concentrated in the Permian Basin and Rockies. Included in the table below are wells in which we own both a royalty interest and a net profits interest.
Wells with such overlapping interests are counted in both categories.
2 unchanged sentences
Number of Counties/Parishes
−Removed: 333 gross and 2 net royalty well additions in four counties in North Dakota are attributable to the JSFM acquisition that closed on June 30, 2021.
+Added: 472 gross and four net royalty well additions in 18 counties and four states are attributable to the Gemini acquisition that closed on December 31, 2021, 871 gross and three net royalty well additions in ten counties and six states are attributable to the acquisition from multiple unrelated third parties that closed on March 31, 2022, and 37 gross and < 1 net royalty well additions in six counties and two states are attributable to the Excess acquisition that closed on September 30, 2022.
We have and will continue to consider a range of transaction structures for our unleased mineral interests including leasing to third parties, working interest participation through the Operating Partnership, electing non-consent under State laws, or a combination thereof.
9 unchanged sentences
The Partnership does not have information that would be available to a company with oil and natural gas operations because detailed information is not generally available to owners of royalty interests.
−Removed: The Partnership’s Chief Operating Officer (“COO”) gathers production information and provides such information to our independent petroleum engineering consulting firm who extrapolates from such information estimates of the reserves attributable to the Royalty Properties and NPI based on their expertise in the oil and natural gas fields where the Royalty Properties and NPI are situated, as well as publicly available information.
−Removed: Ensuring compliance with generally accepted petroleum engineering and evaluation methods and procedures is the responsibility of the COO.
−Removed: Our COO has a bachelor’s degree in Petroleum Engineering from the University of Alberta and has worked in the upstream oil and natural gas business in various capacities since 1996.
−Removed: The COO reports directly to the Chief Executive Officer (“CEO”).
+Added: The Partnership’s Chief Executive Officer (“CEO”) provides production and accounting information to our independent petroleum engineering consulting firm who extrapolates from such information estimates of the reserves attributable to the Royalty Properties and NPI based on their expertise in the oil and natural gas fields where the Royalty Properties and NPI are situated, as well as publicly available information.
+Added: Ensuring compliance with generally accepted petroleum engineering and evaluation methods and procedures is the responsibility of the CEO.
+Added: Our CEO has a bachelor’s degree in Petroleum Engineering from the University of Alberta and has worked in the upstream oil and natural gas business in various capacities since 1996.
Summary of Oil and Gas Reserves as of Fiscal Year-End
3 unchanged sentences
Reserves reflect 96.97% of the corresponding amounts assigned to the Operating Partnership’s interests in the properties underlying the Net Profits Interests.
−Removed: During 2020, the Partnership and affiliates of its General Partner closed the divestitures of our Hugoton and HHC net profits interests.
−Removed: The Hugoton and HHC net profits interests properties represented 408 mbbls and 9,377 mmcf of fiscal year-end 2019 reserves.
Oil reserves include volumes attributable to natural gas liquids.
11 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.