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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 2,258 $ 3,394
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 5,622 5,210
Deferred income taxes (33) (1,100)
Equity in loss of joint ventures 4,410 5,743
Gain on sale of equipment and property (16) 0
Stock-based compensation 1,326 1,280
Net changes in operating assets and liabilities:    
Accounts receivable (234) (781)
Deferred costs and other assets 106 455
Accounts payable and accrued liabilities 1,118 (1,193)
Income taxes payable and receivable (1,389) 2,045
Other long-term liabilities 4 29
Net cash provided by operating activities 13,172 15,082
Cash flows from investing activities:    
Investments in properties (9,161) (12,518)
Investments in joint ventures (6,096) (14,847)
Return of capital from investments in joint ventures 16,485 13,777
Proceeds from the sale of assets 16 0
Cash held in escrow 49 (631)
Net cash provided by (used in) investing activities 1,293 (14,219)
Cash flows from financing activities:    
Proceeds from long-term debt 2,729 0
Debt issue costs (1,379) 0
Distributions to noncontrolling interests (11,556) (1,489)
Contributions from noncontrolling interests 288 0
Net cash used in financing activities (9,918) (1,489)
Net increase (decrease) in cash and cash equivalents 4,547 (626)
Cash and cash equivalents at beginning of year 148,620 157,555
Cash and cash equivalents at end of the period 153,167 156,929
Cash paid during the period for:    
Interest 1,424 1,725
Income taxes $ 2,087 $ 366