Company: NC
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000789933-25-000006
Chunk: 114

Company: NACCO INDUSTRIES INC
Filing Date: 2025-03-05
Form: 10-K
Item: Item 2
Chunk 114
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oring in both ownership percentage of gross wells and royalty rate.

The majority of our producing mineral and royalty interest acreage now, or in the future, can be pooled with third-party acreage to form pooled units. Pooling proportionately reduces our royalty interest in wells drilled in a pooled unit, and it proportionately increases the number of wells in which we have such reduced royalty interest.

The following table includes our estimate of acreage for oil and gas mineral interests, NPRIs, and ORRIs:

December 31, 2024December 31, 2023Gross AcresNet Royalty AcresGross AcresNet Royalty AcresAppalachia34,66136,19934,66136,199Gulf Coast27,93220,10527,93220,105Permian121,4374,568120,6364,556Rockies13,23365932672Williston1,1942,3881,1942,388Total198,45763,919184,74963,320

We may own more than one type of interest in the same tract of land, but the overlap is not significant. Net royalty acres are calculated based on our ownership and royalty rate, normalized to a standard 1/8th royalty lease, and assumes a 1/4th royalty rate for unleased acres.

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The following table includes our estimate of developed and undeveloped acreage based on the gross acres in a basin or region and includes mineral interests, NPRIs, and ORRIs:

December 31, 2024December 31, 2023Developed AcreageUndeveloped AcreageGross AcreageDeveloped AcreageUndeveloped AcreageGross AcreageAppalachia32,1562,50534,66132,1562,50534,661Gulf Coast22,1915,74127,93222,1915,74127,932Permian118,0213,416121,437117,2203,416120,636Rockies7,6965,537 13,233326— 326Williston— 1,1941,194— 1,1941,194Total180,064 18,393198,457171,89312,856184,749

Undeveloped acres are either unleased and open or are leased acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of