SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Pending Divestiture of Non-Permian Assets On October 30, 2025, the Company entered into an equity interest purchase agreement to divest all its non-Permian assets, including those acquired from Sitio, to an affiliate of GRP Energy Capital LLC and Warwick Capital Partners LLP for a purchase price of approximately $670 million, subject to customary purchase price adjustments (the “Pending Non-Permian Divestiture”). The properties to be divested consist of approximately 9,400 net royalty acres in the Denver-Julesburg, Eagle Ford and Williston basins with current production of approximately 4,750 BO/d. The Pending Non-Permian Divestiture is subject to customary closing conditions and is expected to close in the first quarter of 2026. Cash Dividend On October 30, 2025, the board of directors of the Company approved a cash dividend for the third quarter of 2025 of $0.58 per share of Class A Common Stock and $0.66 per OpCo Unit, in each case, payable on November 20, 2025, to holders of record at the close of business on November 13, 2025. The dividend on Class A Common Stock consists of a base quarterly dividend of $0.33 per share and a variable quarterly dividend of $0.25 per share.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2025

Pending Divestiture of Non-Permian Assets

On October 30, 2025, the Company entered into an equity interest purchase agreement to divest all its non-Permian assets, including those acquired from Sitio, to an affiliate of GRP Energy Capital LLC and Warwick Capital Partners LLP for a purchase price of approximately $670 million, subject to customary purchase price adjustments (the “Pending Non-Permian Divestiture”). The properties to be divested consist of approximately 9,400 net royalty acres in the Denver-Julesburg, Eagle Ford and Williston basins with current production of approximately 4,750 BO/d. The Pending Non-Permian Divestiture is subject to customary closing conditions and is expected to close in the first quarter of 2026.

Cash Dividend

On October 30, 2025, the board of directors of the Company approved a cash dividend for the third quarter of 2025 of $0.58 per share of Class A Common Stock and $0.66 per OpCo Unit, in each case, payable on November 20, 2025, to holders of record at the close of business on November 13, 2025. The dividend on Class A Common Stock consists of a base quarterly dividend of $0.33 per share and a variable quarterly dividend of $0.25 per share.