Earnings Call Transcript

Source water revenues were up 18%, reduced water royalty revenues were up 26% and revenues for surface leases, easements and materials, which we refer to as SLEM, were up 52%. SLEM and source water sales, in particular, are generally good leading indicators for royalty production with the increased business activity this quarter, providing confidence that we’ll continue to see strong development on our royalty acreage.


Declassification on the Proxy

Update on the Evaluation of the Board Declassification Process

On August 2, 2022, the Board of Directors, after consideration of a recommendation from the Nominating and Corporate Governance Committee, resolved to include a proposal to amend the Company’s charter to declassify the Board of Directors in its proxy materials for the Company’s 2022 annual meeting of stockholders.