Subsequent Events

3 Months Ended

Mar. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

NOTE 12 - SUBSEQUENT EVENTS    

On April 22, 2020, the Board approved a distribution for the three months ended March 31, 2020 of $0.08 per common unit. Distributions will be payable on May 21, 2020 to unitholders of record at the close of business on May 14, 2020.

On May 4, 2020, the Partnership entered into a development agreement with affiliates of Aethon Energy ("Aethon") with respect to the Partnership's undeveloped Shelby Trough Haynesville and Bossier shale acreage in Angelina County, Texas. The agreement provides for minimum well commitments by Aethon in exchange for reduced royalty rates and exclusive access to the Partnership's mineral and leasehold acreage in the contract area. The agreement calls for a minimum of four wells to be drilled in the initial program year, which begins in the third quarter of 2020, increasing to a minimum of 15 wells per year beginning with the third program year.