Royalty Interests

6 Months Ended

Jun. 30, 2020

Real Estate [Abstract]

Royalty Interests

Royalty Interests

As of June 30, 2020 and December 31, 2019, the Trust owned the following oil and gas royalty interests (in thousands, except number of interests):

	Net Book Value
	June 30, 2020		December 31, 2019
1/16th nonparticipating perpetual royalty interests	$	—	$	—
1/128th nonparticipating perpetual royalty interests	—		—
Royalty interests acquired	46,265		29,320
Total royalty interests, gross	46,265		29,320
Less: accumulated depletion	(360)		(260)
Total royalty interests, net	$	45,905	$	29,060

No valuation allowance was necessary at June 30, 2020 and December 31, 2019.

For the six months ended June 30, 2020, the Trust acquired oil and gas royalty interests in approximately 1,017 net royalty acres (normalized to 1/8th) for an aggregate purchase price of $16.9 million, an average price of approximately $16,668 per net royalty acre.

For the six months ended June 30, 2019, the Trust acquired oil and gas royalty interests in approximately 1,247 net royalty acres (normalized to 1/8th) for an aggregate purchase price of $4.7 million, an average price of approximately $3,800 per net royalty acre.