Sitio Royalties 10-K 8 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 03, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Registrant Name	Sitio Royalties Corp.
Entity Central Index Key	0001949543
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-41585
Entity Tax Identification Number	88-4140242
Entity Address, Address Line One	1401 Lawrence Street
Entity Address, Address Line Two	Suite 1750
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	720
Local Phone Number	640-7620
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Annual Report	true
Document Transition Report	false
Entity Public Float			$ 293.6
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
ICFR Auditor Attestation Flag	false
Auditor Name	KPMG LLP
Auditor Location	Denver, CO
Auditor Firm ID	185
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for the 2023 annual meeting of stockholders, to be filed no later than 120 days after the end of the fiscal year, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Class A Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	STR
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		80,178,279
Warrants [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase Class A common stock
Trading Symbol	STR WS
Security Exchange Name	NYSEAMER
Class C Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		74,340,735

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 18,818	$ 12,379
Accrued revenue and accounts receivable, net	142,010	36,202
Prepaid assets	12,489	235
Derivative asset	18,874
Total current assets	192,191	48,816
Oil and natural gas properties, successful efforts method:
Unproved properties	3,244,436	817,873
Proved properties	1,926,214	447,369
Other property and equipment	3,421	8,187
Accumulated depreciation, depletion and amortization	(223,214)	(121,536)
Net oil and gas properties and other property and equipment	4,950,857	1,151,893
Long-term derivative asset	13,379
Deferred financing costs	7,082	2,145
Operating lease right-of-use asset	5,679
Other long-term assets	1,714
Total long-term assets	27,854	2,145
TOTAL ASSETS	5,170,902	1,202,854
Current liabilities
Accounts payable and accrued expenses	21,899	4,140
Due to affiliates		442
Warrant liability	2,950
Operating lease liability	1,563
Total current liabilities	26,412	4,582
Long-term liabilities
Long-term debt	938,896	134,000
Deferred tax liability	313,607
Deferred rent		1,129
Non-current operating lease liability	5,303
Other long-term liabilities	89
Total long-term liabilities	1,257,895	135,129
Total liabilities	1,284,307	139,711
Commitments and contingencies (see Note 17)
Equity
Additional paid-in capital	1,750,640
Accumulated deficit	(9,203)
Treasury Shares, 633,005 and 0 shares at December 31, 2022 and 2021, respectively	(19,085)
Partners’ Capital		560,622
Noncontrolling interest	2,164,228	502,521
Total equity	3,886,595	1,063,143
TOTAL LIABILITIES AND EQUITY	5,170,902	$ 1,202,854
Class A Common Stock [Member]
Equity
Common stock, value	8
Class C Common Stock [Member]
Equity
Common stock, value	$ 7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, shares outstanding	74,347,005
Treasury, shares	633,005	0
Class A Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	240,000,000	240,000,000
Common stock, shares issued	80,171,951	0
Common stock, shares outstanding	80,171,951	0
Class C Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	74,347,005	0
Common stock, shares outstanding	74,347,005	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Oil, natural gas and natural gas liquids revenues	$ 355,430,000	$ 118,548,000	$ 44,194,000
Lease bonus and other income	14,182,000	2,040,000	1,505,000
Total revenues	369,612,000	120,588,000	45,699,000
Operating expenses:
Management fees to affiliates	3,241,000	7,480,000	7,480,000
Depreciation, depletion and amortization	104,511,000	40,906,000	32,049,000
General and administrative	42,225,000	4,143,000	4,981,000
General and administrative - affiliates	74,000	8,855,000	4,407,000
Severance and ad valorem taxes	25,572,000	6,934,000	3,167,000
Impairment of oil and natural gas properties			812,000
Deferred offering costs write off		2,396,000	2,747,000
Bad debt recovered			(251,000)
Gain on sale of property			(42,000)
Total operating expenses	175,623,000	70,714,000	55,350,000
Net income (loss) from operations	193,989,000	49,874,000	(9,651,000)
Other income (expense):
Interest expense, net	(35,499,000)	(1,893,000)	(1,968,000)
Change in fair value of warrant liability	3,662,000
Loss on extinguishment of debt	(11,487,000)
Commodity derivatives gains (losses)	39,037,000		(2,573,000)
Interest rate derivatives gains	110,000
Net income (loss) before income tax expense	189,812,000	47,981,000	(14,192,000)
Income tax expense	(5,681,000)	(486,000)	(22,000)
Net income (loss)	184,131,000	47,495,000	(14,214,000)
Net loss (income) attributable to Predecessor	(78,104,000)	$ (47,495,000)	$ 14,214,000
Less: income before taxes attributable to temporary equity	(90,377,000)
Net loss attributable to noncontrolling interest	51,000
Net income attributable to Class A stockholders	$ 15,701,000
Net income per Class A common share
Basic	$ 1.10
Diluted	$ 1.10
Weighted average Class A common shares outstanding
Basic	13,723
Diluted	13,723

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 184,131	$ 47,495	$ (14,214)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	104,511	40,906	32,049
Amortization and write off of deferred financing costs and long-term debt discount	6,546	440	256
Share-based compensation	9,250
Change in fair value of warrant liability	(3,662)
Loss on extinguishment of debt	11,487
Bad debt recovered			(251)
Impairment of oil and natural gas properties			812
Commodity derivative gains	(39,037)		2,573
Interest rate derivatives gains	(110)
Gain on sale of property			(42)
Deferred tax expense	1,631
Deferred offering costs write off		2,396	2,747
Change in operating assets and liabilities:
Accrued revenue and accounts receivable, net	(25,313)	(27,697)	4,436
Other prepaid assets	(616)	(97)	14
Other long-term assets	(3,652)
Accrued expenses and other liabilities	(88,558)	1,673	(328)
Due to affiliates	(380)	325	(51)
Other long-term liabilities	1,837	488	588
Net cash provided by operating activities	164,960	65,929	26,016
Cash flows from investing activities:
Predecessor cash not contributed in the Falcon Merger	(15,228)
Purchases of oil and gas properties	(557,569)	(38,470)	(35,543)
Proceeds from sales of oil and gas properties		(137)	(14,069)
Purchases of other property and equipment	(840)	(136)	(293)
Proceeds from sale of other property and equipment			210
Net cash used in investing activities	(558,099)	(38,743)	(21,557)
Cash flows from financing activities:
Borrowings on credit facilities	348,895	147,000	10,000
Repayments on credit facilities	(209,000)	(46,500)	(36,500)
Borrowings on Bridge Loan Facility	425,000
Repayments on Bridge Loan Facility	(425,000)
Bridge Loan Facility issuance costs	(15,406)
Borrowings on 2026 Senior Notes	444,500
Repayments on 2026 Senior Notes	(11,250)
2026 Senior Notes issuance costs	(4,451)
Issuance of equity in consolidated subsidiary		1,467
Capital contributions		8,000	13,000
Distributions to partners		(67,500)
Distributions to noncontrolling interest	(13,318)	(60,882)
Dividends paid to Class A stockholders	(18,165)
Distribution paid to Temporary Equity	(115,375)
Dividend equivalent rights paid	(579)
Payments of deferred financing costs	(5,032)	(1,588)	(316)
Deferred initial public offering costs	(61)	(2,335)	(1,245)
Other	(1,180)
Net cash provided by (used in) financing activities	399,578	(22,338)	(15,061)
Net change in cash and cash equivalents	6,439	4,848	(10,602)
Cash and cash equivalents, beginning of year	12,379	7,531	18,133
Cash and cash equivalents, end of year	18,818	12,379	7,531
Supplemental disclosure of non-cash transactions:
Escrow deposits reclassified to oil and gas properties			3,067
Increase (decrease) in current liabilities for additions to property and equipment:	379	446	2,145
Oil and gas properties acquired through issuance of Class A Common Stock, Class C Common Stock and common units in consolidated subsidiary:	3,348,216
Oil and gas properties acquired through issuance of equity in consolidated subsidiary:		572,166
Oil and gas properties acquired through deemed distribution in connection with common control transaction:		37,459
Temporary equity cumulative adjustment to redemption value:	706,940
Supplemental disclosure of cash flow information:
Cash paid for income taxes:	1,866	25	214
Cash paid for interest expense:	29,030	$ 1,268	1,687
Commodity Contract [Member]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Commodity derivative gains	39,037
Interest rate derivatives gains	(39,037)		$ (2,573)
Net cash received for commodity derivative settlements	7,104
Interest Rate Contract [Member]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Interest rate derivatives gains	(110)
Net cash paid for interest rate derivative settlements	(209)
Falcon Minerals [Member]
Cash flows from investing activities:
Acquisition, net of cash	4,484
Brigham Minerals [Member]
Cash flows from investing activities:
Acquisition, net of cash	$ 11,054

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands	Total	General Partner and Limited Partner [Member]	Noncontrolling Interests	Common Stock Class A Common Stock [Member]	Common Stock Class C Common Stock [Member]	Additional Paid-in Capital	Accumulated Deficit [Member]	Treasury Shares
Balance at Dec. 31, 2019	$ 563,611,000	$ 563,611,000
Net income (loss)	(14,214,000)	(14,214,000)
Capital contributions	13,000,000	13,000,000
Net loss (income) attributable to Predecessor	(14,214,000)
Dividend equivalent rights paid	0
Balance at Dec. 31, 2020	562,397,000	562,397,000
Net income (loss)	47,495,000	28,714,000	$ 18,781,000
Capital contributions	8,000,000	8,000,000
Distributions	(128,382,000)	(67,500,000)	(60,882,000)
Issuance of equity by consolidated subsidiary	573,633,000	66,470,000	507,163,000
Deemed distribution in connection with common control acquisition		(37,459,000)	37,459,000
Net loss (income) attributable to Predecessor	47,495,000
Dividend equivalent rights paid	0
Balance at Dec. 31, 2021	1,063,143,000	560,622,000	502,521,000
Capital distribution	(13,318,000)		(13,318,000)
Net income attributable to Predecessor	78,104,000	39,493,000	38,611,000
Balance at Jun. 06, 2022	1,127,929,000	600,115,000	527,814,000
Balance at Dec. 31, 2021	1,063,143,000	560,622,000	502,521,000
Net income (loss)	184,131,000
Net loss (income) attributable to Predecessor	78,104,000
Net income (loss) attributable to stockholders	15,701,000
Dividend equivalent rights paid	(579,000)
Adjustment of temporary equity to redemption amount	(706,940,000)
Balance at Dec. 31, 2022	3,886,595,000		2,164,228,000	$ 8,000	$ 7,000	$ 1,750,640,000	$ (9,203,000)	$ (19,085,000)
Balance, shares at Dec. 31, 2022				80,805	74,347			(633)
Balance at Jun. 06, 2022	1,127,929,000	600,115,000	527,814,000
Falcon Merger Transaction (effected for 1-for-4 reverse stock split)	(775,902,000)	$ (600,115,000)	(527,814,000)	$ 1,000	$ 7,000	352,019,000
Falcon Merger Transaction (effected for 1-for-4 reverse stock split). shares				12,089	71,752
Stock-based compensation	7,965,000					7,965,000
Conversion of Class C Common Stock to Class A Common Stock	34,038,000					34,038,000
Conversion of Class C Common Stock to Class A Common Stock, shares				1,361	(1,361)
Net income (loss) attributable to stockholders	15,751,000						15,751,000
Deferred tax asset arising from conversion of shares of Class C Common Stock to Class A Common Stock	8,211,000					8,211,000
Dividend equivalent rights paid	(579,000)						(579,000)
Dividends to Class A stockholders	(18,165,000)						(18,165,000)
Adjustment of temporary equity to redemption amount	(706,939,000)					(700,779,000)	(6,160,000)
Balance at Dec. 28, 2022	(307,691,000)			$ 1,000	$ 7,000	(298,546,000)	(9,153,000)
Balance, shares at Dec. 28, 2022				13,450	70,391
Net income (loss) attributable to stockholders	(101,000)		(51,000)				(50,000)
Brigham Merger Transaction,Value	2,149,401,000		119,293,000	$ 7,000		2,049,186,000		$ (19,085,000)
Brigham Merger Transaction, Shares				67,334	3,956			(633)
Reclassification from temporary equity to noncontrolling interest	2,044,986,000		2,044,986,000
Issuance of Class A Common Stock upon vesting of DSUs				21
Balance at Dec. 31, 2022	$ 3,886,595,000		$ 2,164,228,000	$ 8,000	$ 7,000	$ 1,750,640,000	$ (9,203,000)	$ (19,085,000)
Balance, shares at Dec. 31, 2022				80,805	74,347			(633)

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business Sitio Royalties Corp. (together with its wholly owned subsidiaries, the “Company” or “Sitio”) was incorporated in Delaware. The Company is focused on large-scale consolidation of high-quality oil and gas mineral and royalty interests across premium basins. The Company’s portfolio is comprised of mineral and royalty interests in the Permian Basin in West Texas and southeastern New Mexico, the Eagle Ford in South Texas, the SCOOP and STACK plays in the Anadarko Basin in Oklahoma, the DJ Basin in Colorado and Wyoming, the Williston Basin in North Dakota, and the Appalachian Basin in Pennsylvania, Ohio and West Virginia. Falcon Reverse Merger Transaction On June 7, 2022 (the “Closing Date”), the Company, consummated the previously announced merger transactions contemplated by the Agreement and Plan of Merger, dated as of January 11, 2022 (the “Falcon Reverse Merger Agreement”), by and among the Company, Sitio Royalties Operating Partnership, LP, a Delaware limited partnership (formerly known as Falcon Minerals Operating Partnership, LP) (“Sitio OpCo”), Ferrari Merger Sub A LLC, a Delaware limited liability company (“Falcon Merger Sub”), and DPM HoldCo, LLC, a Delaware limited liability company (“Desert Peak”), pursuant to which Falcon Merger Sub merged with and into Desert Peak (the “Falcon Merger”), with Desert Peak continuing as the surviving entity in the Falcon Merger as a wholly owned subsidiary of Sitio OpCo. Prior to the effective time of the Falcon Merger (the “Falcon Merger Effective Time”), on June 3, 2022, the Company filed with the Secretary of State of the State of Delaware the Third Amended and Restated Certificate of Incorporation to effect the previously announced four-to- one reverse stock split (the “Reverse Stock Split”) for all of the Company’s issued and outstanding shares of common stock and outstanding equity awards. As a result of the Reverse Stock Split, every four shares of the Company’s issued and outstanding Class C Common Stock, par value $0.0001 per share (“Class C Common Stock”), were automatically converted into one share of Class C Common Stock, without any change in the par value per share , and every four shares of the Company’s Class A Common Stock, par value $0.0001 per share (“Class A Common Stock” and, together with the Class C Common Stock, the “Common Stock”) were automatically converted into one share of Class A Common Stock, without any change in the par value per share . No fractional shares were outstanding following the Reverse Stock Split. In lieu of any fractional share, any holder of Class C Common Stock who would have otherwise received less than one share of Class C Common Stock received cash equal to the fair value of such holder’s fractional share as determined by the Board. In lieu of any fractional share of Class A Common Stock, the transfer agent for the Class A Common Stock, as exchange agent, aggregated and sold all fractional interests and paid to stockholders that would have been entitled to such fractional shares their pro rata share of the net proceeds derived from the sale of such fractional interests. Additionally, as a result of the Reverse Stock Split, the Company’s outstanding warrants (the “Warrants”) were adjusted such that four whole Warrants became exercisable for one share of Class A Common Stock at an exercise price of $ 44.84 per share of Class A Common Stock. Pursuant to the terms of the Falcon Reverse Merger Agreement, at the Falcon Merger Effective Time and following effectiveness of the Reverse Stock Split, the limited liability company interests in Desert Peak issued and outstanding immediately prior to the Falcon Merger Effective Time were converted into the right to receive an aggregate of (a) 61,905,339 shares of Class C Common Stock and (b) 61,905,339 common units representing limited partner interests in Sitio OpCo (the “Sitio OpCo Partnership Units”) (the total amount under clauses (a) and (b), the “Falcon Merger Consideration”). The Company’s stockholders immediately prior to the closing of the Falcon Merger continued to hold their shares of Class A Common Stock immediately after the closing of the Falcon Merger, subject to the Reverse Stock Split. Following the Falcon Merger and the Reverse Stock Split, there were 12,088,546 shares of Class A Common Stock outstanding, 71,752,285 shares of Class C Common Stock outstanding and 5,312,499 shares of Class A Common Stock issuable upon exercise of outstanding Warrants. There was no change to the number of authorized shares of Common Stock. Shortly prior to the Closing Date, the Company changed its name from “Falcon Minerals Corporation” to “Sitio Royalties Corp.” Brigham Merger On December 29, 2022, the Company, consummated the previously announced merger transactions contemplated by the Agreement and Plan of Merger, dated as of September 6, 2022 (the “Brigham Merger Agreement”) by and among STR Sub Inc. (formerly Sitio Royalties Corp.) (“Former Sitio”), MNRL Sub Inc. (formerly Brigham Minerals Inc.) (“Brigham”), Brigham Minerals Holdings, LLC, Sitio Royalties Operating Partnership, LP, Sitio Royalties Corp. (formerly Snapper Merger Sub I, Inc.) (“New Sitio”), Snapper Merger Sub IV, Inc., Snapper Merger Sub V, Inc., and Snapper Merger Sub II, LLC. The Brigham Merger Agreement provides for the acquisition of Brigham by Former Sitio in an all stock transaction. Refer to “Note 3 - Brigham Merger” for further information. The Company completed the acquisition of approximately 86,500 NRAs in the Delaware and Midland Basin in West Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin in Oklahoma, the DJ Basin in Colorado and Wyoming and the Williston Basin in North Dakota from Brigham. Basis of Presentation These consolidated financial statements have been prepared in accordance with GAAP. In the opinion of management, these consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly the Company’s financial position as of December 31, 2022 and 2021, and its results of operations and cash flows for the years ended December 31, 2022, 2021 and 2020. The company operates in one segment: oil and gas mineral and royalty interests. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is equal to its comprehensive income or loss. Certain prior period amounts have been reclassified to conform to the current period presentation. Prior to the closing of the Falcon Merger, the Company’s financial statements that were filed with the SEC were derived from the accounting records of Falcon Minerals Corporation. The Falcon Merger was accounted for as a reverse merger and a business combination for accounting purposes using the acquisition method of accounting with Desert Peak as the accounting acquirer. As such, the historical consolidated financial statements included in this report are based on the financial statements of Desert Peak’s predecessor, Kimmeridge Mineral Fund, LP (“KMF” or the “Predecessor”), prior to our corporate reorganization. Prior to the Falcon Merger, Desert Peak was consolidated into the results of KMF. KMF’s surface rights, which generate revenue from the sale of water, payments for rights-of-way and other rights associated with the ownership of the surface acreage, are included in our historical financial statements. The assets contributed by KMF in the Falcon Merger did not include KMF’s surface rights. See “Note 7 – Acquisitions” for additional information. The consolidated financial statements included in this report reflect the historical operating results of KMF prior to June 7, 2022 and the consolidated results of the Company following June 7, 2022. The balance sheet reflects the assets and liabilities of the Company, which include the assets and liabilities of KMF Land, LLC (a subsidiary of the Predecessor) (“KMF Land”) at their historical costs, the assets and liabilities of Falcon Minerals Corporation measured at fair value as of June 7, 2022, and the assets and liabilities of Brigham Minerals Inc. measured at fair value as of December 29, 2022. Earnings per share is calculated based on the consolidated results of the Company for the period June 7, 2022 through December 31, 2022. Subsequent to the Falcon Merger, the Company has acquired additional surface rights in connection with multiple acquisitions. The results of each subsequent acquisition are included in the combined company results for the period following the consummation of such acquisition. Except as otherwise indicated or required by the context, all references in these notes to financial statements to the “Company,” “Sitio,” “we,” “us,” “our” or similar terms refer to (i) for periods prior to the closing of the Falcon Merger, Desert Peak and its subsidiaries and (ii) for periods subsequent to the closing of the Falcon Merger, Sitio Royalties Corp. and its subsidiaries, including Desert Peak. All references these notes to financial statements to “Falcon” refer to Sitio Royalties Corp. and its subsidiaries for periods prior to the Falcon Merger. JOBS Act The Company was an “emerging growth company” (“EGC”) as defined by the JOBS Act. The JOBS Act provides that an EGC can take advantage of the extended transition period provided in Section 13(a) of the Exchange Act for complying with new or revised accounting standards. Thus, an EGC can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to avail itself of this exemption and, as a result, its financial statements for prior periods may not be comparable to the financial statements of issuers that were required to comply with the effective dates for new or revised accounting standards that are applicable to public companies. The Company lost its status as an EGC on December 31, 2022, which is the fiscal year end following the fifth anniversary of the date of Falcon’s initial public offering.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries and any entities in which the Company owns a controlling interest. All intercompany accounts and transactions have been eliminated in consolidation. Noncontrolling interest in the Company’s consolidated financial statements for periods prior to the Falcon Merger represented the ownership interests in a subsidiary of the Predecessor which were owned by outside parties. As a result of the Brigham Merger, the holders of Class C Common Stock no longer hold a majority of the voting share outstanding. Consequently, after December 29, 2022, interests held in the form of Class C Common Stock and Sitio OpCo Partnership Units are presented as noncontrolling interest in the consolidated balance sheets. See “Note 10 – Temporary Equity and Noncontrolling Interest ” for additional information. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The Company’s estimates and classification of oil and natural gas reserves are, by necessity, projections based on geologic and engineering data, and there are uncertainties inherent in the interpretation of such data as well as the projection of future rates of production. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that are difficult to measure. The accuracy of any reserve estimate is a function of the quality of available data, engineering, and geological interpretation and judgment. Estimates of economically recoverable oil and natural gas reserves and future net cash flows necessarily depend upon several variable factors and assumptions. These factors and assumptions include historical production from the area compared with production from other producing areas, the assumed effect of regulations by governmental agencies, and assumptions governing future oil and natural gas prices. For these reasons, estimates of the economically recoverable quantities of expected oil and natural gas and estimates of the future net cash flows may vary substantially. Any significant variance in the assumptions could materially affect the estimated quantity of reserves, which could affect the carrying value of the Company’s oil and natural gas properties and/or the rate of depletion related to oil and natural gas properties. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases , which requires all leasing arrangements to be presented on the balance sheet as liabilities along with a corresponding asset. ASU 2016-02 does not apply to leases of mineral rights to explore for or use crude oil and natural gas. The ASU will replace most existing lease guidance in GAAP when it becomes effective. In January 2018, the FASB issued ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 , to provide an optional practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases under Topic 840. In July 2018, the FASB issued ASU 2018-11, Leases: Targeted Improvement s, which provides for another transition method, in addition to the existing transition method, by allowing entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption (i.e. comparative periods presented in the financial statements will continue to be in accordance with current GAAP (Topic 840, Leases )). The Company adopted the new standard during the fiscal year ended December 31, 2022. The primary effect of adoption was to record right-of-use assets and lease liabilities for office leases previously accounted for as operating leases under Topic 840. Refer to “Note 15 - Leases” for more information. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses , which amends current impairment guidance by adding an impairment model (known as the current expected credit loss model (“CECL”)) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of lifetime expected credit losses, which the FASB believes will result in more timely recognition of such losses. The Company adopted the new standard during the fiscal year ended December 31, 2022 with a beginning period of adoption of January 1, 2022. The impact of the adoption of this standard on the Company’s consolidated financial statements was immaterial. ASU 2016-13 was applied using a modified retrospective approach, with a cumulative-effect adjustment to the opening balance of retained earnings as of the adoption date. However, the cumulative impact of adoption in the opening balance of retained earnings as of January 1, 2022 was immaterial. Cash and Cash Equivalents The Company considers all highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains cash and cash equivalents in bank deposit accounts which, at times, may exceed the federally insured limits. The Company has not experienced any significant losses from such investments. Accrued Revenue and Accounts Receivable Accrued revenue and accounts receivable represent amounts due to the Company and are uncollateralized, consisting primarily of royalty revenue receivable. Royalty revenue receivable consists of royalties due from operators for oil, natural gas and NGL volumes sold to purchasers. Those purchasers remit payment for production to the operator of the properties and the operator, in turn, remits payment to the Company. Receivables from third parties for which we did not receive actual production information, either due to timing delays or due to the unavailability of data at the time when revenues are recognized, are estimated. The Company’s accrued revenue and accounts receivable consisted of the following as of the dates indicated (in thousands): December 31, December 31, Accrued revenue $ 80,406 $ 36,177 Accounts receivable 61,604 25 Total accrued revenue and accounts receivable, net $ 142,010 $ 36,202 Accounts receivable at December 31, 2022 are primarily composed of accrued revenue acquired in conjunction with the Brigham Merger. Refer to “Note 3 - Brigham Merger” for more information. The Company routinely assesses the recoverability of all material accounts receivable to determine their collectability. The Company accrues a reserve to the allowance for doubtful accounts when it is probable that a receivable will not be collected and the amount of the reserve may be reasonably estimated. As of December 31, 2022 and 2021, the Company had no reserves for uncollectible amounts or deemed any amounts to be uncollectible. Oil and Gas Properties The Company uses the successful efforts method of accounting for oil and natural gas producing properties, as further defined under ASC 932, Extractive Activities - Oil and Natural Gas . Under this method, costs to acquire mineral interests in oil and natural gas properties are capitalized. The costs of non-producing mineral interests and associated acquisition costs are capitalized as unproved properties pending the results of leasing efforts and drilling activities of E&P operators on our interests. As unproved properties are determined to have proved reserves, the related costs are transferred to proved oil and gas properties. Capitalized costs for proved oil and natural gas mineral interests are depleted on a unit-of-production basis over total proved reserves. For depletion of proved oil and gas properties, interests are grouped in a reasonable aggregation of properties with common geological structural features or stratigraphic conditions. Impairment of Oil and Gas Properties The Company evaluates its producing properties for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When assessing proved properties for impairment, the Company compares the expected undiscounted future net cash flows of the proved properties to the carrying amount of the proved properties to determine recoverability. If the carrying amount of proved properties exceeds the expected undiscounted future net cash flows, the carrying amount is written down to the properties’ estimated fair value, which is measured as the present value of the expected future net cash flows of such properties. The factors used to determine fair value include estimates of proved reserves, future commodity prices, timing of future production, and a risk-adjusted discount rate. There was no impairment of proved properties for the years ended December 31, 2022, 2021, and 2020. The proved property impairment test is primarily impacted by future commodity prices, changes in estimated reserve quantities, estimates of future production, overall proved property balances, and depletion expense. If pricing conditions decline or are depressed, or if there is a negative impact on one or more of the other components of the calculation, we may incur proved property impairments in future periods. Unproved oil and gas properties are assessed periodically for impairment of value, and a loss is recognized at the time of impairment by charging capitalized costs to expense. Impairment is assessed when facts and circumstances indicate that the carrying value may not be recoverable, at which point an impairment loss is recognized to the extent the carrying value exceeds the estimated recoverable value. Factors used in the assessment include but are not limited to commodity price outlooks and current and future operator activity in the respective Basins. The Company recognized no impairment of unproved properties for the years ended December 31, 2022 and 2021. The Company recognized approximately $ 812,000 of unproved property impairment for the year ended December 31, 2020. This impairment was related to capitalized acquisition costs for a prospective mineral interest acquisition that the Company did not complete. Other Property and Equipment Other property and equipment, which includes leasehold improvements, is recorded at cost. Depreciation is calculated using the straight-line method over the shorter of the lease term or the useful lives of the assets. The Company recorded approximately $ 613,000 , $ 588,000 and $ 609,000 in depreciation for other property and equipment for the years ended December 31, 2022, 2021, and 2020, respectively. We evaluate our other property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset that has been placed in service may not be recoverable. No impairment charges were recorded for the years ended December 31, 2022, 2021, and 2020. Asset Acquisitions The Company generally accounts for acquisitions of mineral and royalty interests as asset acquisitions, through which it allocates the purchase price between proved and unproved properties, with no recognition of goodwill. The Company may use different techniques to determine the allocation, including the discounted net present value of estimated future cash flows and market prices (where available). Business Combinations The Company accounts for all business combinations, including the Falcon Merger and Brigham Merger, using the acquisition method, which involves the use of significant judgment. Under the acquisition method, a business combination is accounted for based on the fair value of the consideration given. The assets acquired and liabilities assumed are measured at fair value and the purchase price is allocated to the assets and liabilities based on these fair values. The excess of the cost of an acquisition, if any, over the fair value of the assets acquired and liabilities assumed is recognized as goodwill. The excess of the fair value of assets acquired and liabilities assumed over consideration given for an acquisition, if any, is recognized immediately in earnings as a gain. Determining the fair values of the assets and liabilities acquired involves the use of judgment as fair values are not always readily determinable. Different techniques may be used to determine fair values, including market prices (where available), comparisons to transactions for similar assets and liabilities and the discounted net present value of estimated future cash flows, among others. Derivative Financial Instruments In order to manage its exposure to oil, natural gas, and NGL price volatility as well as interest rate volatility, the Company may periodically enter into derivative transactions, which may include commodity swap agreements, basis swap agreements, two- and three-way collars, and other similar agreements which help manage the price risk associated with the Company’s production. From time to time, the Company may periodically enter into various interest rate derivative contracts to manage exposures to changes in interest rates from variable rate obligations. These derivatives are not entered into for trading or speculative purposes. To the extent legal right of offset exists with a counterparty, the Company reports derivative assets and liabilities on a net basis. The Company has exposure to credit risk to the extent that the counterparty is unable to satisfy its settlement obligations. All derivative counterparties are current lenders under Sitio's Revolving Credit Facility (defined below). Accordingly, the Company is not required to provide any credit support to its derivative counterparties other than cross collateralization with the properties securing the Sitio Revolving Credit Facility. The Company records derivative instruments on its consolidated balance sheets as either assets or liabilities measured at fair value and records changes in the fair value of derivatives in current earnings as they occur. Changes in the fair value of commodity and interest rate derivatives, including gains or losses on settled derivatives, are classified as other income or loss on the Company’s consolidated statements of operations. The Company’s derivatives have not been designated as hedges for accounting purposes. Accounts Payable and Accrued Expenses The Company’s accounts payable and accrued expenses consisted of the following as of the dates indicated (in thousands): December 31, December 31, Ad valorem taxes payable $ 9,209 $ 1,750 Brigham Merger accrued expenses 2,878 — Other taxes payable 2,713 529 Payable to seller for pre-effective monies 2,243 104 General and administrative 1,931 904 Interest expense 1,377 274 Accrued prepaids 1,330 — Deferred financing costs and debt issuance costs 206 13 Capital expenditures 12 391 Other — 175 Total accounts payable and accrued expenses $ 21,899 $ 4,140 Warrant Liability Falcon issued the Public Warrants and Private Placement Warrants (both defined below) in connection with its initial public offering in 2017. The Warrants remain outstanding following the Falcon Merger. Warrants are accounted for in accordance with applicable accounting guidance provided in ASC 815-40 – Derivatives and Hedging – Contracts in Entity’s Own Equity (“ASC 815”), as either liabilities or as equity instruments depending on the specific terms of the warrant agreement. The Warrants were classified as liabilities and recorded at fair value at the time of the Falcon Merger and are subject to remeasurement at the end of each reporting period. Any change in fair value is recorded in our statements of operations. Leases The Company evaluates if an arrangement is a lease at inception of the arrangement. To the extent that we determine an arrangement represents a lease, we classify that lease as an operating lease or a finance lease, depending on lease classification guidance provided in ASC 842 – Leases. The Company leases office space under four operating leases. In December 2021, the Predecessor entered into a sublease of one of its office spaces with an unaffiliated third-party. We currently do not have any finance leases. We capitalize our operating leases through recognition of an operating lease right-of-use asset and a corresponding operating lease liability on our consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and operating lease liabilities represent our obligation to make fixed payments under the terms of the lease agreement. Short-term leases that have an initial term of one year or less are not capitalized but are disclosed. Short-term lease costs exclude expenses related to leases with a lease term of one month or less. Operating lease right-of-use assets and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. In addition to the present value of lease payments, the operating lease right-of-use asset also includes any lease payments made to the lessor prior to lease commencement less any lease incentives and initial direct costs incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term. See “Note 15 – Leases ” for additional information. Deferred Rent Under ASC 840 – Leases (“ASC 840”), which was in effect prior to 2022, the Company recognized rental expense for operating leases on a straight-line basis over the term of the lease agreements. The deferred rent liability on the Company’s consolidated balance sheet as of December 31, 2021 is attributable to the difference between rental expense (recognized on a straight-line basis) and the variable lease payments over the terms of the agreements. Temporary Equity Subsequent to the Falcon Merger, the Company accounted for the interests attributable to Class C Common Stock and Sitio OpCo Partnership Units as temporary equity as a result of certain redemption rights held as discussed in “Note 10 – Temporary Equity and Noncontrolling Interest.” As such, the Company adjusted temporary equity to its maximum redemption amount at the balance sheet date, if higher than the carrying amount. Changes in the redemption value were recognized immediately as they occur, as if the end of the reporting period was also the redemption date for the instrument, with an offsetting entry to retained earnings or, if a retained deficit, to additional paid-in capital. Temporary equity is reclassified to permanent equity upon conversion of Class C Common Stock (and an equivalent number of Sitio OpCo Partnership Units) or when holders of the Class C Common Stock no longer effectively control the Company’s determination of whether to make a cash payment upon the Sitio OpCo Partnership Unit holder’s exercise of its Redemption Right. As a result of the Brigham Merger on December 29, 2022, the holders of Class C Common Stock no longer hold a majority of the voting shares outstanding. Consequently, after December 29, 2022, interest held in the form of Class C Common Stock and Sitio OpCo Partnership Units are presented as noncontrolling interest in the consolidated balance sheets. See “Note 10 – Temporary Equity and Noncontrolling Interest ” for additional information. Revenue Recognition Mineral and royalty interests represent the right to receive revenues from the sale of oil, natural gas and NGL, less production taxes and post-production expenses. The prices of oil, natural gas, and NGL from the properties in which we own a mineral or royalty interest are primarily determined by supply and demand in the marketplace and can fluctuate considerably. As an owner of mineral and royalty interests, we have no working interest or operational control over the volumes and methods of sale of the oil, natural gas, and NGL produced and sold from our properties. We do not explore, develop, or operate the properties and, accordingly, do not incur any of the associated costs. Oil, natural gas, and NGL revenues from our mineral and royalty interests are recognized when control transfers at the wellhead. The Company also earns revenue related to lease bonuses. The Company earns lease bonus revenue by leasing its mineral interests to E&P companies. The Company recognizes lease bonus revenue when the lease agreement has been executed and payment is determined to be collectible. See “Note 5 – Revenue from Contracts with Customers” for additional disclosures regarding revenue recognition. Concentration of Revenue Collectability of the Company’s royalty revenue is dependent upon the financial condition of the Company’s operators, the entities they sell their products to, as well as general economic conditions in the industry. For the year ended December 31, 2022, revenue from Callon Petroleum Company represented approximately 12 % of total revenue. For the year ended December 31, 2021, revenue from Coterra Energy Inc., Diamondback Energy, Inc, Callon Petroleum Company, and Oxy USA Inc represented approximately 12 %, 11 %, 11 %, and 10 % of total revenue, respectively. For the year ended December 31, 2020, revenue from Diamondback Energy, Inc, Cimarex Energy, and Oxy USA Inc represented approximately 15 %, 12 % and 10 % of total revenue, respectively. Although the Company is exposed to a concentration of credit risk, the Company does not believe the loss of any single operator or entity would materially impact the Company’s operating results as crude oil, natural gas and NGL are fungible products with well-established markets and numerous purchasers. If multiple entities were to cease making purchases at or around the same time, we believe there would be challenges initially, but there would be ample markets to handle the disruption. Share-Based Compensation The Company recognizes share-based compensation expense associated with restricted stock units, deferred share units, and restricted stock awards which are time-based awards and performance stock units, which are market-based awards. As the performance metric for the performance stock unit awards is absolute total shareholder return, the performance stock units awards are accounted for as market-based awards. The Company accounts for forfeitures of share-based compensation awards as they occur. Share-based compensation expense for all awards is recognized based on the estimated grant date fair value of the award. See “Note 11 – Share-Based Compensation ” for additional information. Merger-Related Transaction Costs General and administrative expense of $ 42.2 million for the year ended December 31, 2022 includes $ 16.7 million of costs incurred by the Company in connection with the Falcon Merger and the Brigham Merger (defined below). No such expense was recognized for the years ended December 31, 2021 and 2020. Income Taxes The Company, under ASC 740 – Income Taxes (“ASC 740”), uses the asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (a) temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities and (b) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future periods when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. A valuation allowance will be provided for deferred tax assets if it is more likely than not the deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits (if any) as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2022 and 2021. Texas imposes a franchise tax, commonly referred to as the Texas margin tax, which is considered an income tax, at a rate of 0.75 % on gross revenues less certain deductions, as specifically set forth in the Texas margin tax statute. A significant portion of our mineral and royalty interests are located in Texas. As such, the Company recognized approximately $ 1.7 million, $ 486,000 , and $ 22,000 , respectively, for the years ended December 31, 2022, 2021, and 2020, of state income tax expense, primarily attributable to the Texas margin tax. The Company’s ASC 740 balances and income tax expense reporting is significantly affected by the portion of the Company’s consolidated net income attributable to the holders of Sitio OpCo Partnership Units, which is not taxable income to the Company. As the Company’s ownership interest in Sitio OpCo is 51.9 %, only tax attributes allocated to the Company are recorded at this level, except for Texas Gross Margins tax which is imposed on Sitio OpCo and reported herein.

Brigham Merger

Brigham Merger	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Brigham Merger	In December 2022, the Company completed the acquisition of approximately 86,500 NRAs in the Delaware and Midland Basin in West Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin of Oklahoma, the DJ Basin Colorado and Wyoming and the Williston Basin in North Dakota from Brigham Minerals. At closing, subject to the terms and conditions of the Brigham Merger Agreement, provides for the acquisition of Brigham by Former Sitio in an all-stock transaction through: (i) the merger of Brigham Merger Sub with and into Brigham (the “Brigham Merger”), with Brigham surviving the Brigham Merger as a wholly owned subsidiary of New Sitio, (ii) the merger of Sitio Merger Sub with and into Former Sitio (the “Sitio Merger”), with Former Sitio surviving the Sitio Merger as a wholly owned subsidiary of New Sitio, and (iii) the merger of Opco Merger Sub LLC with and into Brigham Opco (the “Opco Merger,” and, together with the Brigham Merger and the Sitio Merger, the “Mergers”), with Brigham Opco surviving the Opco Merger as a wholly owned subsidiary of Opco LP, in each case on the terms set forth in the Brigham Merger Agreement. Pursuant to the Brigham Merger Agreement, at closing each share of Brigham’s Class A common stock, par value $ 0.01 per share, issued and outstanding immediately prior to the First Effective Time was converted into 1.133 fully-paid and nonassessable shares of Class A Common Stock, par value $ 0.0001 per share, of New Sitio (the “New Sitio Class A Common Stock”), (B) each share of Brigham’s Class B common stock, par value $ 0.01 per share, issued and outstanding immediately prior to the First Effective Time was converted into 1.133 fully-paid and nonassessable shares of Class C Common Stock, par value $ 0.0001 per share, of New Sitio (the “New Sitio Class C Common Stock”), (C) each share of Class A Common Stock issued and outstanding immediately prior to the First Effective Time was converted into one share of New Sitio Class A Common Stock and (D) each share of Class C Common Stock issued and outstanding immediately prior to the First Effective Time, was converted into one share of New Sitio Class C Common Stock, in each case, excluding shares owned by Sitio, Brigham or any wholly owned subsidiary of Sitio or Brigham and, to the extent applicable, shares owned by stockholders who have perfected and not withdrawn a demand for appraisal rights pursuant to the Delaware General Corporation Law (the “DGCL”) and, (ii) at the Second Effective Time, each Brigham Opco Unit issued and outstanding immediately prior to the Second Effective Time was converted into 1.133 Sitio OpCo Partnership Units. No fractional shares were outstanding following the conversion. As a result of the Brigham Merger and as of the closing of the Brigham Merger (the “Brigham Closing”), Sitio stockholders immediately prior to the First Effective Time owned approximately 54 % of the outstanding shares of New Sitio, and Brigham stockholders immediately prior to the First Effective Time own approximately 46 % of the outstanding shares of New Sitio. Following the Closing, New Sitio operates under the name “Sitio Royalties Corp.” The Brigham Merger was accounted for as a business combination and, therefore, the acquired interests were recorded based on the fair value of the total assets acquired and liabilities assumed on the acquisition date. The following table summarized the consideration for the Brigham Merger: Brigham Common Stock — issued and outstanding as of December 29, 2022: 71,290,265 Class A Common Stock price on December 29, 2022 $ 30.15 Total consideration and fair value $ 2,149,401,490 Preliminary Purchase Price Allocation The Brigham Merger was accounted for as a business combination using the acquisition method. The Company completed the determination of the fair value attributable to the identifiable assets acquired and liabilities assumed based on the fair value at the acquisition date. Certain data necessary to complete the purchase price allocation is subject to change, and includes, but is not limited to, settlement of pre-acquisition working capital balances and assessments of deferred tax assets and liabilities acquired. We expect to complete the purchase price allocation during the 12-month period following the acquisition date, during which time the value of the assets and liabilities may be revised as appropriate. The following table presents the preliminary allocation of the purchase price to the assets acquired and liabilities assumed on December 29, 2022 (in thousands): Brigham fair values: Cash $ 11,054 Accrued revenue and accounts receivable 61,745 Prepaid expenses 11,339 Unproved oil and gas properties 1,783,162 Proved oil and gas properties 873,050 Property and equipment 200 Right-of-use asset 3,209 Other assets 1,064 Current liabilities ( 83,425 ) Long-term debt ( 193,000 ) Long-term operating lease liability ( 2,387 ) Deferred tax liability ( 316,571 ) Other long-term liability ( 39 ) Total consideration and fair value $ 2,149,401 Transaction costs associated with the Brigham Merger incurred for the year ended December 31, 2022 were $ 13.3 million. These costs, which are comprised primarily of advisory, legal, and other professional and consulting fees, are included in General and administrative expense on our consolidated statements of operations. The results of Brigham’s operations have been included in our consolidated financial statements since the December 29, 2022 acquisition date. The amount of revenue and direct operating expenses resulting from the acquisition included in our Consolidated Statements of Operations from December 29, 2022 through December 31, 2022 was approximately $ 2.4 million and $ 113,000 , respectively. Pro Forma Financial Information The unaudited pro forma financial information for the years ended December 31, 2022 and 2021, respectively, gives effect to the Falcon Merger and Brigham Merger as if they had both occurred on January 1, 2021 (in thousands, except per share amounts): For the Years 2022 2021 Total revenues $ 756,590 $ 389,621 Pro forma income (loss) available to Class A stockholders 121,110 ( 8,435 ) Net income (loss) per share: Basic $ 1.50 $ ( 0.12 ) Diluted $ 1.50 $ ( 0.12 ) The unaudited pro forma combined financial information is for informational purposes only and is not intended to represent or to be indicative of the combined results of operations that the Company would have reported had the Falcon Merger and Brigham Merger been completed as of January 1, 2021 and should not be taken as indicative of the Company’s future combined results of operations. The actual results may differ significantly from that reflected in the unaudited pro forma combined financial information for a number of reasons, including, but not limited to, differences in assumptions used to prepare the unaudited pro forma combined financial information and actual results.

Falcon Reverse Merger

Falcon Reverse Merger	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Falcon Reverse Merger	In June 2022, the Company completed the acquisition of approximately 34,000 NRAs in the Eagle Ford and Appalachian Basin from Falcon Minerals Corporation in a reverse merger. At closing, subject to the terms and conditions of the Falcon Reverse Merger Agreement, Falcon merged with and into Desert Peak, with Desert Peak continuing as the surviving entity in the Falcon Merger as a wholly owned subsidiary of Sitio OpCo. On June 3, 2022, prior to the consummation of the Falcon Merger, Falcon effected the four-to-one Reverse Stock Split. As a result of the Reverse Stock Split, every four shares of the Company’s issued and outstanding Class C Common Stock were automatically converted into one share of Class C Common Stock, without any change in the par value per share, and every four shares of the Company’s Class A Common Stock were automatically converted into one share of Class A Common Stock, without any change in the par value per share . No fractional shares were outstanding following the Reverse Stock Split. Additionally, as a result of the Reverse Stock Split, the Warrants were adjusted such that four whole Warrants became exercisable for one share of Class A Common Stock at an exercise price of $ 44.84 per share of Class A Common Stock. Pursuant to the terms of the Falcon Reverse Merger Agreement, following the closing of the Falcon Merger and the Reverse Stock Split, the issued and outstanding limited liability company interests in Desert Peak were converted into the right to receive aggregate Falcon Merger Consideration of (a) 61,905,339 shares of Class C Common Stock and (b) 61,905,339 Sitio OpCo Partnership Units. The Falcon Merger was accounted for as a business combination and, therefore, the acquired interests were recorded based on the fair value of the total assets acquired and liabilities assumed on the acquisition date. The following table summarized the consideration for the Falcon Merger: Falcon Common Stock — issued and outstanding as of June 7, 2022: 21,935,492 Class A Common Stock price on June 7, 2022 $ 29.12 Total consideration and fair value $ 638,761,527 Purchase Price Allocation The Falcon Merger was accounted for as a business combination using the acquisition method. The Company completed the determination of the fair value attributable to the identifiable assets acquired and liabilities assumed based on the fair value at the acquisition date. The purchase price allocation was finalized during the three months ended December 31, 2022. The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed (in thousands): June 7, 2022 Adjustments December 31, 2022 Falcon fair values: Cash $ 4,484 $ — $ 4,484 Accrued revenue and accounts receivable 12,054 6,696 18,750 Unproved oil and gas properties 495,803 ( 4,572 ) 491,231 Proved oil and gas properties 200,773 — 200,773 Property and equipment 278 — 278 Current liabilities ( 22,315 ) ( 1,106 ) ( 23,421 ) Long-term debt ( 43,105 ) — ( 43,105 ) Deferred tax liability ( 2,598 ) ( 1,018 ) ( 3,616 ) Warrant liability ( 6,612 ) — ( 6,612 ) Total consideration and fair value $ 638,762 $ — $ 638,762 In connection with the Falcon Merger, the Company assumed, and immediately repaid, $ 43.1 million of borrowings under Falcon’s credit facility. The repayment of Falcon’s long-term debt was funded using cash on hand and borrowings on the Sitio Revolving Credit Facility, see “ Note 8 – Debt” for further information. Transaction costs associated with the Falcon Merger incurred for the year ended December 31, 2022 were $ 3.4 million. These costs, which are comprised primarily of advisory, legal, and other professional and consulting fees, are included in General and administrative expense on our consolidated statements of operations. The results of Falcon’s operations have been included in our consolidated financial statements since the June 7, 2022 acquisition date. The amount of revenue and direct operating expenses resulting from the acquisition included in our Consolidated Statements of Operations from June 7, 2022 through December 31, 2022 was approximately $ 43.5 million and $ 2.9 million, respectively. Pro Forma Financial Information See “Note 3 – Brigham Merger ” for the pro forma financial information.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	Oil and natural gas sales Oil, natural gas and NGL sales revenues are generally recognized when control of the product is transferred to the customer, the performance obligations under the terms of the contracts with customers are satisfied and collectability is reasonably assured. All of the Company’s oil, natural gas and NGL sales are made under contracts with customers (operators). The performance obligations for the Company’s contracts with operators are satisfied at a point in time when control transfers to the operator at the wellhead, at which point payment is unconditional. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. The Company typically receives payment for oil, natural gas and NGL sales within 30 to 90 days of the month of delivery after initial production from the well. Such periods can extend longer due to factors outside of our control. The Company’s leasing contracts with operators are standard industry agreements that include variable consideration based on the monthly index price and adjustments that may include counterparty-specific provisions related to volumes, price differentials, discounts and other adjustments and deductions. During the years ended December 31, 2022, 2021 and 2020, the disaggregated revenues from sales of oil, natural gas and NGLs were as follows (in thousands): Year Ended December 31, 2022 2021 2020 Crude oil sales $ 266,179 $ 84,818 $ 34,878 Natural gas sales 52,380 17,143 4,278 NGL sales 36,871 16,587 5,038 Total royalty revenues $ 355,430 $ 118,548 $ 44,194 Lease bonus and other income The Company also earns revenue from lease bonuses, delay rentals, and right-of-way payments. The Company generates lease bonus revenue by leasing its mineral interests to E&P companies. A mineral lease agreement represents our contract with an operator and generally transfers the rights, for a specified period of time, to explore for and develop any oil, natural gas and NGL discovered, grants us a specified royalty interest in the hydrocarbons produced from the leased property, and requires that drilling and completion operations commence within a specified time period. The Company recognizes lease bonus revenues when the lease agreement has been executed and payment is determined to be collectible. At the time the Company executes the lease agreement, the lease bonus payment is delivered to the Company. Upon receipt of the lease bonus payment, the Company will release the recordable original lease documents to the operator. The Company also recognizes revenue from delay rentals to the extent drilling has not started within the specified period and payment has been received. Right-of-way payments are recorded when the agreement has been executed and payment is determined to be collectable. The assets contributed by our Predecessor in the Falcon Merger did not include the Predecessor’s surface rights. Subsequent to the Falcon Merger, the Company has acquired additional surface rights in connection with multiple acquisitions. Payments for lease bonus and other income become unconditional upon the execution of an associated agreement. Accordingly, the Company’s lease bonus and other income transactions do not give rise to contract assets or liabilities. Allocation of transaction price to remaining performance obligations Oil and natural gas sales The Company’s right to royalty income does not originate until production occurs and, therefore, is not considered to exist beyond each day’s production. Therefore, there are no remaining performance obligations under any of our royalty income contracts. Lease bonus and other income Given that the Company does not recognize lease bonus or other income until an agreement has been executed, at which point its performance obligation has been satisfied, the Company does not record revenue for unsatisfied or partially unsatisfied performance obligations as of the end of the reporting period. Prior-period performance obligations The Company records revenue in the month production is delivered to the customer. As a royalty interest owner, the Company has limited visibility into the timing of when new wells start producing as production statements may not be received for 30 to 90 days or more after the date production is delivered. As a result, the Company is required to estimate the amount of production delivered to the customer and the price that will be received for the sale of the product. The expected sales volumes and prices for these properties are estimated and recorded within accrued revenue and accounts receivable in the accompanying consolidated balance sheets. The difference between the Company’s estimates of royalty income and the actual amounts received for oil and natural gas sales are recorded in the month that the royalty payment is received from the operator. For the years ended December 31, 2022, 2021 and 2020, revenue recognized related to performance obligations satisfied in prior reporting periods was primarily attributable to production revisions by operators or amounts for which the information was not available at the time when revenue was estimated.

Oil and Gas Properties

Oil and Gas Properties	12 Months Ended
	Dec. 31, 2022
Oil And Gas Exploration And Production Industries Disclosures [Abstract]
Oil and Gas Properties	The Company owns mineral rights across multiple onshore basins in the United States. These basins include the Permian Basin in West Texas and southeastern New Mexico, the Eagle Ford in South Texas, the SCOOP and STACK plays in the Anadarko Basin in Oklahoma, the DJ Basin in Colorado and Wyoming, the Williston Basin in North Dakota, and the Appalachian Basin in Pennsylvania, Ohio and West Virginia. The following is a summary of oil and natural gas properties as of December 31, 2022 and 2021 (in thousands): Oil and natural gas properties: December 31, December 31, Unproved properties $ 3,244,436 $ 817,873 Proved properties 1,926,214 447,369 Oil and natural gas properties, gross 5,170,650 1,265,242 Accumulated depletion and impairment ( 222,072 ) ( 118,175 ) Oil and natural gas properties, net $ 4,948,578 $ 1,147,067 As presented in the consolidated statements of cash flows for the year ended December 31, 2022, the Company paid $ 557.6 million for mineral acquisition costs. Additionally, the Company acquired mineral and royalty interests of $ 3.3 billion through issuance of common stock and Sitio OpCo Partnership Units as a result of the Falcon Merger and Brigham Merger, respectively. As presented in the consolidated statements of cash flows for the year ended December 31, 2021, the Company paid $ 38.5 million for mineral acquisition costs and paid $ 137,000 related to purchase price adjustments from prior property sales. Additionally, the Company acquired mineral and royalty interests of $ 572.2 million in three separate transactions in exchange for equity interests in a subsidiary of the Predecessor. Please see “ Note 7 – Acquisitions” for additional information regarding these transactions. As presented in the consolidated statements of cash flows for the year ended December 31, 2020, the Company paid $ 35.5 million and received proceeds from the sale of mineral interests of $ 14.1 million. The Company uses the successful efforts method of accounting for its oil and gas properties. Capitalized costs are depleted on a unit of production basis based on proved oil and natural gas reserves. Depletion expense was $ 103.9 million, $ 40.3 million, and $ 31.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Acquisitions	Brigham Merger In December 2022, the Company completed the acquisition of approximately 86,500 NRAs in the Delaware and Midland Basin in West Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming and the Williston Basin in North Dakota from Brigham Minerals. Refer to “ Note 3 – Brigham Merger” for further information. Momentum Acquisition In July 2022, the Company acquired approximately 12,200 net royalty acres from Momentum Minerals Operating, LP, Momentum Minerals Operating II, LP, Momentum Minerals Nominee, Inc., Momentum Minerals Nominee II, Inc. and Athene Annuity & Life Assurance Company (collectively, “Momentum”) for a purchase price of $ 213.3 million, net of customary closing adjustments (the “Momentum Acquisition”). The Momentum Acquisition was funded through borrowings under the Bridge Loan Facility (defined below) and borrowings under the Sitio Revolving Credit Facility (defined below), in addition to cash on hand. The Momentum Acquisition was accounted for as an asset acquisition and, therefore, the acquired interests were recorded based on the fair value of the total assets acquired on the acquisition date. Based on the estimated fair values of the assets received, the Company recorded $ 74.2 million of the total consideration as unproved oil and gas property and $ 139.1 million as proved oil and gas property. Additionally, $ 0.7 million of transaction costs were capitalized related to the Momentum Acquisition. Foundation Acquisition In June 2022, the Company completed the acquisition of approximately 19,700 NRAs in the Permian Basin from Foundation Minerals, LLC (“Foundation”) for $ 320.6 million, net of customary closing adjustments, funded primarily by proceeds from the Bridge Loan Facility, borrowings under the Sitio Revolving Credit Facility, and cash on hand. The Foundation acquisition was accounted for as an asset acquisition and, therefore, the acquired interests were recorded based on the fair value of the total assets acquired on the acquisition date. Based on the estimated fair values of the assets received, the Company recorded $ 189.3 million of the total consideration as unproved oil and gas property and $ 131.3 million as proved oil and gas property. Additionally, $ 0.8 million of transaction costs were capitalized related to the transaction. Falcon Acquisition In June 2022, the Company completed the acquisition of approximately 34,000 NRAs in the Eagle Ford and Appalachian Basin from Falcon in a reverse merger. Refer to “Note 4 – Falcon Reverse Merger” for further information. Source Acquisition In August 2021, the Predecessor completed the acquisition of approximately 25,000 NRAs in the Midland and Delaware Basins from the Source Stockholders. At closing, subject to the terms and conditions of the transaction agreement, the Source Stockholders contributed their mineral and royalty interests to the Predecessor and in consideration for the contribution, Kimmeridge affiliates caused DPM HoldCo (a subsidiary of the Predecessor) to issue equity interests in DPM HoldCo to Source for total consideration of $ 252.9 million. The Source acquisition was accounted for as an asset acquisition and, therefore, the acquired interests were recorded based on the fair value of the total assets acquired on the acquisition date. Based on the estimated fair values of the assets received, the Predecessor recorded $ 183.2 million of the total consideration as unproved oil and gas property and $ 69.7 million as proved oil and gas property. Additionally, $ 3.5 million of transaction costs were capitalized related to the transaction. Rock Ridge Acquisition In June 2021, the Predecessor completed the acquisition of approximately 18,700 NRAs from Rock Ridge. At closing, subject to the terms and conditions of the transaction agreement, Rock Ridge contributed its mineral and royalty interests to the Predecessor and in consideration for the contribution, Kimmeridge affiliates caused DPM HoldCo to issue equity interests in DPM HoldCo to Rock Ridge for total consideration of $ 258.6 million. The Rock Ridge acquisition was accounted for as an asset acquisition and, therefore, the acquired interests were recorded based on the fair value of the total assets acquired on the acquisition date. Based on the estimated fair values of the assets received, the Predecessor recorded $ 190.3 million of the total consideration as unproved oil and gas property and $ 68.3 million as proved oil and gas property. Additionally, $ 1.1 million of transaction costs were capitalized related to the transaction. Delaware Basin ORRIs Acquisition In October 2020, a partnership owned and managed by Kimmeridge, (“Fund V”), acquired a 2.0 % (on an 8/8ths basis) overriding royalty interest in all of Callon Petroleum Company’s (“Callon”) operated assets in the Delaware Basin of which Fund V held an 84 % interest proportionately reduced to Callon’s net revenue interest (the “Chambers ORRI”). In June 2021, the Predecessor entered into a definitive agreement to acquire 84 % of the Delaware Basin portion of the Chambers ORRI from Chambers Minerals, LLC, a subsidiary of Fund V (the “Chambers Acquisition”). Immediately following the consummation of the contributions of assets to the Predecessor, Chambers HoldCo, LLC (the managing member of Chambers Minerals, LLC) was issued equity in DPM HoldCo. As the general partner of Fund V and the General Partner of the Predecessor were affiliated, the transaction was approved by the Predecessor’s Limited Partner Advisory Committee in June 2021. The Chambers Acquisition was accounted for as an asset acquisition. The Chambers Acquisition was also accounted for as a transaction between entities under common control; the controlling ownership and management of the general partner of Fund V and the general partner of the Predecessor had significant overlap, including responsibility for the management, control, and direction of the business affairs of the respective entities. As the Predecessor and Fund V were entities under common control, the Predecessor recorded the acquisition utilizing the properties’ net book value. The properties acquired by the Predecessor had a historical net book value to Fund V at the time of sale of approximately $ 60.6 million ($ 45.3 million was allocated to unproved property and $ 15.3 million was allocated to proved property). Accordingly, the $ 37.5 million excess of the fair value of the properties above their net book value was recorded as a decrease to the Predecessor’s partners’ capital at the date of the transaction. Refer to “Note 16 – Related Party Transactions” for further discussion.

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Sitio Revolving Credit Facility As of December 31, 2022, the borrowing base under the Sitio Revolving Credit Facility (the “Sitio Borrowing Base”) as determined by the lenders was $ 300 .0 million and the outstanding balance under the Sitio Revolving Credit Facility was $ 250.0 million. As of December 31, 2021, the Sitio Borrowing Base was $ 150.0 million as determined by the lenders and the outstanding balance under the Sitio Revolving Credit Facility was $ 134.0 million. The Sitio Revolving Credit Facility bears interest at a rate per annum equal to, at our option, at an adjusted Term SOFR rate or a base rate, plus an applicable margin and credit spread adjustment. The applicable margin is based on utilization of the Sitio Revolving Credit Facility and ranges from (a) in the case of adjusted base rate loans, 1.500 % to 2.500 % and (b) in the case of Term SOFR rate loans and letters of credit, from 2.500 % to 3.500 %. The credit spread adjustment ranges from 0.100 % to 0.250 % depending on the applicable interest rate and interest rate period. Sitio OpCo may elect an interest period of one, three or six months. Interest is payable in arrears at the end of each interest period, but no less frequently than quarterly. A commitment fee is payable quarterly in arrears on the daily undrawn available commitments under the Sitio Revolving Credit Facility in an amount ranging from 0.375 % to 0.500 % based on utilization of the Sitio Revolving Credit Facility. The Sitio Revolving Credit Facility is subject to other customary fee, interest and expense reimbursement provisions. As of December 31, 2022 and 2021, the weighted average interest rate related to our outstanding borrowings under the Sitio Revolving Credit Facility was 7.62 % and 3.36 %, respectively. As of December 31, 2022 and 2021, the Company had unamortized debt issuance costs of $ 6.0 million and $ 2.1 million, respectively, in connection with its entry into the Sitio Revolving Credit Facility, including amendments. Such costs are capitalized as deferred financing costs within other long-term assets and are amortized over the life of the facility. For the years ended December 31, 2022, 2021 and 2020, the Company recognized $ 1.2 million, $ 440,000 , and $ 255,000 , respectively, in interest expense related to the amortization of deferred financing costs under the Sitio Revolving Credit Facility. The Sitio Revolving Credit Facility matures on the earlier of June 5, 2026 and 91 days prior to the final maturity date of the 2026 Senior Notes if any 2026 Senior Notes remain outstanding on such date. Loans drawn under the Sitio Revolving Credit Facility may be prepaid at any time without premium or penalty (other than customary breakage costs for Term SOFR rate loans) and must be prepaid in the event that exposure exceeds the lesser of the borrowing base and the elected commitments of the lenders at such time. The principal amount of loans that are prepaid are required to be accompanied by accrued and unpaid interest and fees on such amounts. Loans that are prepaid may be reborrowed, subject to compliance with the Sitio Revolving Credit Facility. In addition, Sitio OpCo may permanently reduce or terminate in full the commitments under the Sitio Revolving Credit Facility prior to maturity. Any excess exposure resulting from such permanent reduction or termination must be prepaid and may not be reborrowed. Upon the occurrence of an event of default under the Sitio Revolving Credit Facility, the administrative agent acting at the direction of the lenders holding a majority of the aggregate commitments at such time may accelerate outstanding loans and terminate all commitments under the Sitio Revolving Credit Facility, provided that such acceleration and termination occurs automatically upon the occurrence of a bankruptcy or insolvency event of default. The Sitio Revolving Credit Facility is subject to a borrowing base established by the lenders to reflect the loan value of our oil and gas mineral interests. The borrowing base under the Sitio Revolving Credit Facility is redetermined by the lenders on a semi-annual basis. Additionally, lenders holding two-thirds of the aggregate commitments are able to request one additional redetermination between regularly scheduled redeterminations. Sitio OpCo could also request one additional redetermination between regularly scheduled redeterminations, and such other redeterminations as appropriate when significant acquisition opportunities arise. The borrowing base is subject to adjustments for asset dispositions, material title deficiencies, certain terminations of hedge agreements and issuances of certain additional indebtedness. Increases to the borrowing base require unanimous approval of the lenders, while maintenance of the same borrowing base or decreases in the borrowing base only require approval of lenders holding two-thirds of the aggregate commitments at such time. The determination of the borrowing base takes into consideration the estimated value of the Company’s oil and gas mineral interests in accordance with the lenders’ customary practices for oil and gas loans. The Sitio Revolving Credit Facility is collateralized by substantially all of the assets of Sitio OpCo and its restricted subsidiaries. The Sitio Revolving Credit Facility contains customary affirmative and negative covenants, including, without limitation, reporting obligations, restrictions on asset sales, restrictions on additional debt and lien incurrence and restrictions on making dividends or distributions, restrictions on paying other debt and restriction on certain investments. The Sitio Revolving Credit Facility requires us to maintain (a) a current ratio of not less than 1.00 to 1.00 and (b) a ratio of total net funded debt to consolidated EBITDA of not more than 3.50 to 1.00, with cash netting capped at $ 25.0 million. EBITDA for the period ending on December 31, 2022 is calculated as EBITDA for the period beginning on July 1, 2022 and ending on December 31, 2022 multiplied by two. The Company was in compliance with the terms and covenants of the Sitio Revolving Credit Facility at December 31, 2022 and 2021. First Amended and Restated Credit Agreement In October 2021, KMF Land, as borrower and Desert Peak, as parent, entered into the Amended and Restated Credit Agreement with a syndicate of banks led by Bank of America N.A. as Administrative Agent, Issuing Bank and Syndication Agent, pursuant to which the lenders thereunder made loans and extensions of credit to the borrower thereunder (the “Predecessor Credit Agreement”). Falcon Credit Agreement On June 7, 2022 and in connection with the closing of the Falcon Merger, the Company repaid the outstanding borrowings under the Credit Agreement, dated as of August 23, 2018 (the “Falcon Credit Agreement”), among Falcon Minerals Operating Partnership, LP, as the borrower, the lenders from time to time party thereto, Citibank, N.A., as administrative agent and collateral agent for the lenders from time to time party thereto and each other issuing bank from time to time party thereto and terminated the Falcon Credit Agreement. Second Amended and Restated Credit Agreement Upon closing of the Falcon Merger on June 7, 2022, the Predecessor Credit Agreement was amended, restated, and refinanced in its entirety pursuant to the Second Amended and Restated Credit Agreement (the “Sitio Credit Agreement”), led by Bank of America N.A. as Administrative Agent, Issuing Bank and Syndication Agent. Pursuant to the terms and conditions of the Sitio Revolving Credit Facility, the Lenders committed to provide a senior secured revolving credit facility to Sitio OpCo in an aggregate principal amount of up to $ 750.0 million (as amended or otherwise modified from time to time the “Sitio Revolving Credit Facility”). The availability under the Sitio Revolving Credit Facility, including availability for letters of credit, is generally limited to a borrowing base, which is determined by the required number of lenders in good faith by calculating a loan value of the proved reserves of Sitio OpCo and its restricted subsidiaries and elected commitments provided by the Lenders. As of June 7, 2022, the Revolving Credit Facility had a $ 300.0 million borrowing base and $ 300.0 million elected commitment amount. As part of the aggregate commitments under the revolving advances, the Revolving Credit Facility provides for letters of credit to be issued at the request of the borrower in an aggregate amount not to exceed $ 15.0 million. First Amendment to Second Amended and Restated Credit Agreement On June 24, 2022, Sitio OpCo and the other guarantors party thereto entered into the First Amendment to Credit Agreement (the “Sitio RBL First Amendment”). The Sitio RBL First Amendment, among other things, amended the Sitio Revolving Credit Facility to permit the borrowings under the Bridge Loan Agreement, defined below, and permitted the transactions contemplated by the Bridge Loan Agreement and the Foundation Acquisition described in “Note 7 – Acquisitions.” The Sitio RBL First Amendment waived the borrowing base reduction that would otherwise apply to the incurrence of permitted additional debt up to an aggregate amount of $ 400.0 million incurred prior to the next borrowing base redetermination. Second Amendment to Second Amended and Restated Credit Agreement On July 8, 2022, Sitio OpCo and the other guarantors party thereto entered into the Second Amendment to Credit Agreement (the “Sitio RBL Second Amendment”), pursuant to which the Sitio Revolving Credit Facility was amended to permit the additional borrowings under the Bridge First Amendment and permit the transactions contemplated by the Bridge First Amendment. The Sitio RBL Second Amendment waived the borrowing base reduction that would otherwise apply to the incurrence of Permitted Additional Debt (as defined in the Sitio RBL Second Amendment) for an additional amount of $ 50.0 million, up to an aggregate amount of $ 450.0 million, if incurred within 30 days of the closing of the Sitio RBL Second Amendment to fund a portion of the purchase price of the Momentum Acquisition described in “Note 7 – Acquisitions.” Third Amendment to Second Amended and Restated Credit Agreement On September 21, 2022, Sitio OpCo and the other guarantors party thereto entered into the Third Amendment to Credit Agreement, pursuant to which the Revolving Credit Facility was amended to permit the issuance of the 2026 Senior Notes and the transactions contemplated by the Note Purchase Agreement. Fourth Amendment to Second Amended and Restated Credit Agreement On December 29, 2022, Sitio OpCo and the guarantors entered into party thereto entered into the Fourth Amendment to Credit Agreement, pursuant to which, among other things, the Sitio Revolving Credit Facility was amended to (i) permit the consummation of, and the transactions contemplated by, the Brigham Merger, (ii) reaffirm the borrowing base under the Sitio Revolving Credit Facility at $ 300,000,000 , (iii) designate certain subsidiaries of Brigham as unrestricted subsidiaries (the “Brigham Unrestricted Subsidiaries”), (iv) require that the Brigham Unrestricted Subsidiaries become restricted subsidiaries under the Sitio Revolving Credit Facility on or before June 30, 2023 and (v) include restrictions on the amount of debt that can be incurred by the Brigham Unrestricted Subsidiaries before they are designated as restricted subsidiaries under the Sitio Revolving Credit Facility. Brigham Revolving Credit Facility In conjunction with the closing of the Brigham Merger, the Company assumed the Brigham Revolving Credit Facility. As of December 31, 2022, the borrowing base under the Brigham Revolving Credit Facility (the “Brigham Borrowing Base”) as determined by the lenders was $ 290.0 million and the outstanding balance under the Brigham Revolving Credit Facility was $ 260.0 million. The Brigham Revolving Credit Facility bears interest at a rate per annum equal to, at Brigham Resources, LLC’s (“Brigham Resources”) option, at an adjusted Term SOFR rate or a base rate, plus an applicable margin and credit spread adjustment. The applicable margin is based on utilization of the Brigham Revolving Credit Facility and ranges from (a) in the case of adjusted base rate loans, 1.500 % to 2.500 % and (b) in the case of Term SOFR rate loans and letters of credit, from 2.500 % to 3.500 %. The credit spread adjustment for Term SOFR Rate loans is 0.100 %. Brigham Resources may elect an interest period of one, three or six months. Interest is payable in arrears at the end of each interest period, but no less frequently than quarterly. A commitment fee is payable quarterly in arrears on the daily undrawn available commitments under the Brigham Revolving Credit Facility in an amount ranging from 0.375 % to 0.500 % based on utilization of the Brigham Revolving Credit Facility. The Brigham Revolving Credit Facility is subject to other customary fee, interest and expense reimbursement provisions. As of December 31, 2022, the weighted average interest rate related to Brigham Resources’ outstanding borrowings under the Brigham Revolving Credit Facility was 8.04 %. As of December 31, 2022, the Company had unamortized debt issuance costs of $ 1.1 million in connection with Brigham Resources’ entry into the Brigham Revolving Credit Facility, including amendments. Such costs are capitalized as deferred financing costs within other long-term assets and are amortized over the life of the facility. No interest expense related to the amortization of deferred financing costs under the Brigham Revolving Credit Facility was incurred by the Company for the years ended December 31, 2022, 2021 and 2020. The Brigham Revolving Credit Facility matures on May 16, 2024 . Loans drawn under the Brigham Revolving Credit Facility may be prepaid at any time without premium or penalty (other than customary breakage costs for Term SOFR rate loans) and must be prepaid in the event that exposure exceeds the lesser of the borrowing base and the elected commitments of the lenders at such time. The principal amount of loans that are prepaid are required to be accompanied by accrued and unpaid interest and fees on such amounts. Loans that are prepaid may be reborrowed, subject to compliance with the Brigham Revolving Credit Facility. In addition, Brigham Resources may permanently reduce or terminate in full the commitments under the Brigham Revolving Credit Facility prior to maturity. Any excess exposure resulting from such permanent reduction or termination must be prepaid and may not be reborrowed. Upon the occurrence of an event of default under the Brigham Revolving Credit Facility, the administrative agent acting at the direction of the lenders holding a majority of the aggregate commitments at such time may accelerate outstanding loans and terminate all commitments under the Brigham Revolving Credit Facility, provided that such acceleration and termination occurs automatically upon the occurrence of a bankruptcy or insolvency event of default. The Brigham Revolving Credit Facility is subject to a borrowing base established by the lenders to reflect the loan value of Brigham Resources’ and its subsidiaries’ oil and gas mineral interests. The borrowing base under the Brigham Revolving Credit Facility is redetermined by the lenders on a semi-annual basis. Additionally, lenders holding two-thirds of the aggregate commitments are able to request one additional redetermination in each fiscal year. Brigham Resources could also request one additional redetermination in each fiscal year, and such other redeterminations as appropriate when significant acquisition opportunities arise. The borrowing base is subject to adjustments for asset dispositions, material title deficiencies, certain terminations of hedge agreements and issuances of certain additional indebtedness. Increases to the borrowing base required unanimous approval of the lenders, while maintenance of the same borrowing base or decreases in the borrowing base only required approval of lenders holding two-thirds of the aggregate commitments at such time. The determination of the borrowing base takes into consideration the estimated value of the Company’s oil and gas mineral interests in accordance with the lenders’ customary practices for oil and gas loans. The Brigham Revolving Credit Facility is collateralized by substantially all of the assets of Brigham Resources and its subsidiaries. The Brigham Revolving Credit Facility contains customary affirmative and negative covenants, including, without limitation, reporting obligations, restrictions on asset sales, restrictions on additional debt and lien incurrence and restrictions on making dividends or distributions, restrictions on paying other debt and restriction on certain investments. The Brigham Revolving Credit Facility requires the Brigham Unrestricted Subsidiaries to become restricted subsidiaries under the Sitio Revolving Credit Facility or terminate its commitments under the Brigham Revolving Credit Facility and repay all obligations outstanding thereunder on or before June 30, 2023. The Brigham Revolving Credit Facility requires Brigham Resources to maintain (a) a current ratio of not less than 1.00 to 1.00 and (b) a ratio of total net funded debt to consolidated EBITDA of not more than 3.50 to 1.00 , with cash netting capped at $ 25.0 million. The Company was in compliance with the terms and covenants of the Brigham Revolving Credit Facility at December 31, 2022. Brigham Credit Agreement On May 16, 2019, Brigham Resources entered into the Credit Agreement (as amended or otherwise modified from time to time, the “Brigham Credit Agreement”), led by Wells Fargo Bank, N.A. as Administrative Agent, Letter of Credit Issuer, Sole Lead Arranger and Bookrunner. Pursuant to the terms and conditions of the Brigham Revolving Credit Facility, the Lenders committed to provide a senior secured revolving credit facility to Brigham Resources in an aggregate principal amount of up to $ 500.0 million (as amended or otherwise modified from time to time the “Brigham Revolving Credit Facility”). The availability under the Brigham Revolving Credit Facility, including availability for letters of credit, is generally limited to a borrowing base, which is determined by the required number of lenders by calculating a loan value of the proved reserves of Brigham Resources and its subsidiaries and elected commitments provided by the Lenders. Sixth Amendment to Brigham Credit Agreement On December 29, 2022, Brigham Resources and the guarantors entered into party thereto entered into the Sixth Amendment to Credit Agreement (the “Brigham RBL Sixth Amendment”). The Brigham RBL Sixth Amendment, among other things (i) permits the consummation of the transactions contemplated by the Brigham Merger Agreement, (ii) modifies the financial reporting requirements applicable to Brigham Resources in respect of such transactions, (iii) provides that discretionary cash dividends or distributions to the equity owners of Brigham Resources are subject to (in addition to existing leverage and liquidity requirements) trailing twelve month distributable free cash flow, and (iv) establishes June 30, 2023 as an outside date for a refinancing or termination of the Former Brigham Credit Agreement. 2026 Senior Notes On September 21, 2022, Sitio OpCo, as issuer, and certain subsidiaries of Sitio OpCo, as guarantors, entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with certain institutional investors as holders (the “Holders”) and U.S. Bank Trust Company, National Association, as agent for the Holders (the “Agent”). Pursuant to the Note Purchase Agreement, Sitio OpCo issued senior unsecured notes to the Holders in an aggregate principal amount of $ 450.0 million (the “2026 Senior Notes”). Sitio OpCo used $ 425.0 million of the proceeds from the 2026 Senior Notes to repay in full all amounts outstanding under the Bridge Loan Facility (as defined below) with the remainder used for general corporate purposes. The 2026 Senior Notes mature on September 21, 2026. Sitio OpCo may elect, at its option, to prepay the 2026 Senior Notes in whole or in part at any time, subject to (except as described below) payment of a premium determined in accordance with the table below based on the length of time between the issuance date and the prepayment date: Period Premium Months 0 - 12 Customary “make-whole” premium plus 3.00 % Months 13 - 24 3.00 % Months 25 - 36 1.00 % Months 37 - 48 0.00 % Interest accrues on the 2026 Senior Notes at an adjusted Term SOFR rate (including a 0.150 % spread adjustment) for a three-month period plus a margin of 6.50 %, unless the Agent determines that adequate and reasonable means do not exist for ascertaining the Term SOFR rate or the Requisite Holders (as defined in the Note Purchase Agreement) determine that the Term SOFR rate will not reflect the cost of maintaining their 2026 Senior Notes for the relevant period, in which case the 2026 Senior Notes will bear interest at a base rate (defined on the basis of the prime rate) plus a margin of 5.50 %. From and after the Fold In Date (as defined below), the applicable margin will be reduced to 5.75 % for 2026 Senior Notes bearing interest based on the adjusted Term SOFR rate and to 4.75 % for 2026 Senior Notes bearing interest based on the base rate. Interest payments on the 2026 Senior Notes are due quarterly. Sitio OpCo may elect, at its option, to prepay the 2026 Senior Notes on the last business day of each calendar quarter in an amount equal to 2.50 % of the aggregate principal amount of all the 2026 Senior Notes issued under the Note Purchase Agreement, which prepayments will not require the payment of any premium (each, an “Optional Quarterly Payment”). If Sitio OpCo does not make an Optional Quarterly Payment on any quarterly payment date, the applicable margin on the 2026 Senior Notes will increase to 9.50 % for 2026 Senior Notes bearing interest based on the adjusted Term SOFR rate and 8.50 % for 2026 Senior Notes bearing interest based on the base rate. After the Fold In Date, if an Optional Quarterly Payment is not made, the margin will increase to 7.75 % for 2026 Senior Notes bearing interest based on the adjusted Term SOFR rate and 6.75 % for 2026 Senior Notes bearing interest based on the base rate. The increased margin will apply until the earlier of the date on which Sitio OpCo makes such Optional Quarterly Payment or the next quarterly payment date. As of December 31, 2022, the Company had $ 438.8 million of 2026 Senior Notes outstanding. As of December 31, 2022, the weighted average interest rate of the 2026 Senior Notes was 11.23 %. As of December 31, 2022, the Company had unamortized debt issuance costs of $ 4.7 million in connection with its issuance of the 2026 Senior Notes. Such costs are reported as a reduction to long-term debt on our consolidated balance sheets and are amortized over the life of the 2026 Senior Notes. For the year ended December 31, 2022, the Company recognized $ 342,000 of interest expense related to the amortization of issuance costs related to the Note Purchase Agreement. No such expense was recognized for the years ended December 31, 2021 and 2020. The Note Purchase Agreement includes, among other terms and conditions, a maximum leverage ratio covenant, as well as customary mandatory prepayments, representations, warranties, covenants and events of default, including, among others, a change of control event of default and limitations on asset sales, restrictions on additional debt and lien incurrence and restrictions on making dividends or distributions and restrictions on certain investments. The Note Purchase Agreement requires Sitio OpCo to maintain a leverage ratio of not more than 3.50 to 1.00, which is tested as of the last day of each fiscal quarter. During the continuance of an event of default, the Holders may take certain actions, including declaring the entire amount of the 2026 Senior Notes and other amounts then outstanding under the Note Purchase Agreement to be due and payable. As of December 31, 2022, Sitio OpCo was in compliance with the terms and covenants of the 2026 Senior Notes. First Amendment to Note Purchase Agreement On December 29, 2022, Sitio OpCo and the guarantors entered into that certain First Amendment to Note Purchase Agreement (the “NPA First Amendment”), pursuant to which, among other things, the Note Purchase Agreement was amended to (i) designate the Brigham Unrestricted Subsidiaries as unrestricted subsidiaries under the Note Purchase Agreement, (ii) require that the Brigham Unrestricted Subsidiaries become restricted subsidiaries under the Note Purchase Agreement and the RBL Credit Agreement (as defined in the Note Purchase Agreement) on or before June 30, 2023 (iii) postpone the automatic 0.75% (or, in certain circumstances, 1.75%) reduction of the applicable margin on the 2026 Senior Notes from the date when the Mergers are consummated to the date when the Brigham Unrestricted Subsidiaries are designated as restricted subsidiaries under the Note Purchase Agreement (such date of designation, the “Fold In Date”) and (iv) include restrictions on the amount of debt that can be incurred by the Brigham Unrestricted Subsidiaries before they are designated as restricted subsidiaries under the Note Purchase Agreement. 364-Day Bridge Loan Agreement On June 24, 2022, Sitio OpCo, as borrower, entered into an unsecured 364-Day Bridge Loan Agreement with Bank of America, N.A. as Administrative Agent for the Lenders, BofA Securities, Inc., as joint lead arranger and sole bookrunner, and Barclays Bank PLC and KeyBank National Association, as joint lead arrangers (the “Bridge Loan Agreement”). The Bridge Loan Agreement was amended on July 8, 2022 (the “Bridge First Amendment”) to provide for additional delayed draw term loan commitment. The Bridge Loan Agreement and Bridge First Amendment provide for a 364-day term loan credit facility (the “Bridge Loan Facility”) in the aggregate principal amount of $ 425.0 million. The Bridge Loan Facility was fully repaid and extinguished on September 21, 2022 using proceeds from the issuance of the 2026 Senior Notes. Upon the closure of the Bridge Loan Facility, the Company recognized a loss on extinguishment of debt of $ 11.5 million, associated with unamortized debt issuance costs and other fees incurred in connection with the payoff. For year ended December 31, 2022, the Company recognized $ 3.4 million of interest expense related to the amortization of issuance costs under the Bridge Loan Agreement. No such expense was recognized for the years ended December 31, 2021 and 2020.

Equity

Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Equity	Prior to the effective time of the Falcon Merger, on June 3, 2022, Falcon filed with the Secretary of State of the State of Delaware the Third Amended and Restated Certificate of Incorporation to effect the previously announced four-to-one Reverse Stock Split for all of Falcon’s, and subsequently the Company’s, issued and outstanding shares of common stock and outstanding equity awards. As a result of the Reverse Stock Split, every four shares of the Company’s issued and outstanding Class C Common Stock were automatically converted into one share of Class C Common Stock, without any change in the par value per share, and every four shares of the Company’s Class A Common Stock were automatically converted into one share of Class A Common Stock, without any change in the par value per share. No fractional shares were outstanding following the Reverse Stock Split. Class A Common Stock The Company had 80,171,951 shares of its Class A Common Stock outstanding as of December 31, 2022. Holders of Class A Common Stock are entitled to one vote per share on all matters to be voted upon by the stockholders and are entitled to ratably receive dividends when and if declared by the Company’s Board. Class C Common Stock The Company had 74,347,005 shares of its Class C Common Stock outstanding as of December 31, 2022. Shares of Class C Common Stock are non-economic but entitle the holder to one vote per share. Current holders of Class C Common Stock also hold an equivalent number of Sitio OpCo Partnership Units. Sitio OpCo Partnership Units are redeemable on a one-for-one basis for shares of Class A Common Stock at the option of the holder. Upon the redemption by any holder of Sitio OpCo Partnership Units for shares of Class A Common Stock, a corresponding number of shares of Class C Common Stock held by such holder will be canceled. During the year ended December 31, 2022, 1,361,966 Sitio OpCo Partnership Units were redeemed for shares of Class A Common Stock, and an equivalent number of shares of Class C Common Stock were canceled. Treasury Shares The Company held in treasury 633,005 shares of its Class A Common stock. The shares were repurchased by Brigham in 2020 and contributed to New Sitio as part of the Brigham Merger consideration. The treasury shares were recorded at a price of $ 30.15 per share at December 31, 2022. Cash Dividends On August 31, 2022, the Company paid a cash dividend of $ 0.71 per share of Class A Common Stock, totaling $ 9.0 million. The dividend related to the quarter ending June 30, 2022 and was paid to stockholders of record on August 18, 2022. On November 30, 2022, the Company paid a cash dividend of $ 0.72 per share of Class A Common Stock, totaling $ 9.1 million. The dividend related to the quarter ending September 30, 2022 was paid to stockholders of record on November 21, 2022. See “Note 19 – Subsequent Events” for additional information regarding cash dividends. Earnings per Share Earnings per share is computed using the two-class method. The two-class method determines earnings per share of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities represent certain equity-based compensation awards in which the recipients have non-forfeitable rights to dividend equivalents during the performance period. The following table sets forth the calculation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data): For the Year 2022 2021 2020 Numerator: Net income attributable to Class A stockholders $ 15,701 $ — $ — Less: Earnings allocated to participating securities ( 579 ) — — Net income attributable to Class A stockholders - basic $ 15,122 $ — $ — Plus: net income attributable to temporary equity 90,377 Less: net loss attributable to noncontrolling interest ( 51 ) Net income attributable to Class A stockholders - diluted $ 105,448 $ — $ — Denominator: Weighted average shares outstanding - basic 13,723 Effect of dilutive securities — Weighted average shares outstanding - diluted 13,723 Net income per common share - basic $ 1.10 Net income per common share - diluted $ 1.10 The Company had the following shares that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per share in future periods (in thousands): For the Year 2022 2021 2020 Warrants 5,312 Unvested share-based compensation awards 302 Total 5,614 — — Diluted net income per share also excludes the effects of Sitio OpCo Partnership Units (and related Class C Common Stock) associated with the earn-out, which are convertible into Class A Common Stock, because they are considered contingently issuable shares and the conditions for issuance were not satisfied as of December 31, 2022. Earn-Out Contributors of Falcon’s initial assets in 2018 will be entitled to receive earn-out consideration to be paid in the form of Sitio OpCo Partnership Units (with a corresponding number of shares of Class C Common Stock) if the volume-weighted average price of the trading days during any thirty (30) calendar days (the “30-Day VWAP”) of the Class A Common Stock equals or exceeds certain hurdles set forth in the Contribution Agreement. If the 30-Day VWAP of the Class A Common Stock is $50.00 or more per share (on a split-adjusted basis) at any time within the seven years following the 2018 closing, the contributors will receive (a) an additional 2.5 million Sitio OpCo Partnership Units (and an equivalent number of shares of Class C Common Stock), plus (b) an amount of Sitio OpCo Partnership Units (and an equivalent number of shares of Class C Common Stock) equal to (i) the amount by which annual cash dividends paid on each share of Class A Common Stock exceeds $2.00 in each year between the closing and the date the first earn-out is achieved (with any dividends paid in the stub year in which the first earn-out is achieved annualized for purposes of determining what portion of such dividends would have, on an annual basis, exceeded $2.00), multiplied by 2.5 million, (ii) divided by $50.00. If the 30-Day VWAP of the Class A Common Stock is $60.00 or more per share (on a split-adjusted basis) at any time within the seven years following the closing (which $60.00 threshold will be reduced by the amount by which annual cash dividends paid on each share of Class A Common Stock exceeds $2.00 in each year between the closing and the date the earn-out is achieved, but not below $50.00), the contributors will receive an additional 2.5 million Sitio OpCo Partnership Units (and an equivalent number of shares of Class C Common Stock). Upon recognition of the earn-out, as there is no consideration received, the Company would record the payment of the earn-out as adjustments through equity (noncontrolling interest and additional-paid-in-capital). Partners’ Capital Committed Capital As of December 31, 2022, as a result of the Falcon Merger, the Company no longer had any Partners’ Capital. As of December 31, 2021, the Predecessor had aggregate capital commitments (the “Committed Capital”) of $ 618.4 million from Limited Partners and $ 8.0 million from the General Partner. At December 31, 2021, approximately $ 29.5 million of this Committed Capital remained available to call for purposes of satisfying investment commitments, management fees, and expenses over the remaining life of the Predecessor. Through December 31, 2021, the Predecessor’s contributed capital as a percentage of total Committed Capital was approximately 95 %. Distributions In June 2022 prior to the Falcon Merger, DPM HoldCo distributed $ 13.3 million to its outside owners, including $ 1.9 million to an affiliate Kimmeridge fund. In October 2021, DPM HoldCo distributed $ 60.9 million to its outside owners, including $ 8.7 million to an affiliate Kimmeridge fund. In November 2021, the Predecessor made a distribution of $ 67.5 million to its partners, comprised of approximately $ 66.6 million to Limited Partners and $ 0.9 million to its General Partner.

Temporary Equity and Noncontrol

Temporary Equity and Noncontrolling Interest	12 Months Ended
	Dec. 31, 2022
Temporary Equity Disclosure [Abstract]
Temporary Equity and Noncontrolling Interest	Temporary equity represents ownership interests held in the form of Class C Common Stock and Sitio OpCo Partnership Units. Pursuant to the Falcon Reverse Merger Agreement, Desert Peak became a subsidiary of Sitio OpCo Partnership. In connection with the Falcon Merger, the Predecessor’s equity holders received 62 million shares of the Company’s Class C Common Stock and a corresponding number of Sitio OpCo Partnership Units. In connection with the Falcon Merger, a prior Class C common stockholder in Falcon received 10 million Class C shares and a corresponding number of Sitio OpCo Partnership Units. Prior to the Brigham Merger, Class C Common Stock was classified as temporary equity in the consolidated balance sheet as the redemption rights of each holder of Sitio OpCo Partnership Units for either shares of Class A Common Stock or an equivalent amount of cash was not solely within the Company’s control. This was due to the fact that the holders of Class C Common Stock controlled a majority of the votes of the Board through ownership of a majority of the voting stock, which allowed the holders of Class C Common Stock to effectively control the determination of whether a redemption would be settled in shares of Class A Common Stock or an equivalent amount of cash. In connection with the Brigham Merger, prior Class B common stockholders in Brigham received Class C Common Stock and a corresponding number of Sitio OpCo Partnership Units. Prior Brigham Class A common stockholders received Sitio Class A Common Stock. Subsequent to the Brigham Merger transactions, the holders of Class C Common Stock no longer hold a majority of the voting shares outstanding and their representation on the Board is less than a majority. As a result, holders of the Company’s Class C Common Stock no longer effectively control the determination of whether a redemption would be settled in Shares of Class A Common Stock or an equivalent amount of cash. Consequently, after December 29, 2022, interests held in the form of Class C Common Stock and Sitio OpCo Partnership Units are presented as noncontrolling interest in the consolidated balance sheets. Temporary equity is recorded at the greater of the carrying value or redemption amount with a corresponding adjustment to retained earnings or if a retained deficit to additional paid-in capital. From the date of the Falcon Merger through December 28, 2022, the Company recorded adjustments to the value of temporary equity as presented in the table below (in thousands): Temporary equity adjustments Balance – June 7, 2022 (1) $ 1,395,799 Share-based compensation 1,283 Conversion of Class C Common Stock to Class A Common Stock ( 34,038 ) Net income attributable to temporary equity 90,377 Distributions to holders of temporary equity ( 115,375 ) Adjustment of temporary equity to redemption amount 706,940 Reclassification to noncontrolling interest (2) ( 2,044,986 ) Balance – December 28, 2022 $ — (1) Based on 71,752,285 shares of Class C Common Stock outstanding at June 7, 2022. (2) Based on 70,390,316 shares of Class C Common Stock outstanding and Class A Common Stock 5-day volume-weighted average price of $ 29.05 at December 28, 2022. The December 28, 2022 redemption value of temporary equity became the carrying value of noncontrolling interest. Noncontrolling interest is recorded at its carrying value. On December 29, 2022, the redemption value of temporary equity of $ 2.0 billion became the carrying value of noncontrolling interest. For the period December 29, 2022 to December 31, 2022, the carrying value of noncontrolling interest increased by $ 119.3 million as a result of the Brigham Merger transaction and decreased due to a loss of $ 51,000 attributable to noncontrolling interest. As of December 31, 2022 the carrying value of noncontrolling interest was $ 2.2 billion.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Share-Based Compensation	In connection with the Falcon Merger, the Company adopted the Sitio Royalties Corp. Long Term Incentive Plan (the “Plan”). An aggregate of 8,384,083 shares of Class A Common Stock are available for issuance under the Plan. The Plan permits the grant of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), stock awards, dividend equivalents, other stock-based awards, cash awards, and substitute awards. Shares that are canceled, forfeited, exchanged, settled in cash or otherwise terminated will be available for delivery pursuant to other awards. Dividend equivalent rights (“DERs”) are also available for grant under the Plan, either alone or in tandem with other specific awards, which will entitle the recipient to receive an amount equal to dividends paid on a Class A Common Stock. Dividends paid in connection with the DERs are accounted for as a reduction in retained earnings for those awards that are expected to vest. Awards that are forfeited could cause a reclassification of any previously recognized DERs payments from a reduction in retained earnings to additional compensation cost. The Plan is administered by the Compensation Committee of the Board (the “Compensation Committee”). As of December 31, 2022, a total of 7,535,151 shares of Class A Common Stock remain available for future grant under the Plan. For the year ended December 31, 2022, the Company incurred $ 9.2 million of share-based compensation which is included in general and administrative expense in the accompanying consolidated statements of operations. There was no share-based compensation expense recognized for the years ended December 31, 2021 and 2020. For the year ended December 31, 2022, the Company paid $ 579,000 related to DERs. For the years ended December 31, 2021 and 2020, no DERs were paid. Restricted Stock Units In accordance with the Plan, the Compensation Committee is authorized to issue RSUs to eligible executive officers and employees. The Company estimates the fair value of the RSUs as the closing price of the Company’s Class A Common Stock on the grant date of the award, which is expensed over the applicable service period. RSUs granted by the Company include dividend equivalent rights, which entitle the holder to receive payments as if the unvested awards were shares of Class A Common Stock of record as of the dividend record dates. Such amounts are paid simultaneously with the general dividend to our stockholders. In connection with the Falcon Merger, the Board granted one-time equity-based awards to our executive officers and employees under the Plan, consisting of RSUs subject to a vesting period of one year. The Board also granted an annual equity-based award to our executive officers under the Plan, which consists of RSUs that vest in equal installments on the first three anniversaries of June 7, 2022. The Company has granted RSUs to certain employees, which represent the right to receive shares of Class A Common Stock at the end of the service periods in an amount equal to the number of RSUs that vest. The RSUs issued to employees generally vest in one-third increments over a three-year period. RSUs are subject to forfeiture if the award recipient ceases providing services to the Company prior to the date the award vests. The following table summarizes activity related to unvested RSUs for the year ended December 31, 2022. Restricted Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 447,519 29.11 Forfeited ( 1,391 ) 29.12 Vested — — Unvested at December 31, 2022 446,128 $ 29.11 For the year ended December 31, 2022, the Company recognized $ 4.5 million of share-based compensation expense related to RSUs. As of December 31, 2022, there was approximately $ 8.5 million of unamortized equity-based compensation expense related to unvested RSUs. That expense is expected to be recognized over a weighted average period of approximately 1.8 years. For the years ended December 31, 2021 and 2020 there was no share-based compensation expense related to RSUs. Deferred Share Units In accordance with the Plan, the Compensation Committee is authorized to issue deferred share units (“DSUs”) to our non-employee directors. The Company estimates the fair value of the DSUs as the closing price of the Company’s Class A Common Stock on the grant date of the award, which is expensed over the applicable service period. In connection with the Falcon Merger, the Board granted awards of DSUs under the Plan to each of our non-employee directors. The DSUs are expected to vest in equal quarterly installments over the one-year period beginning on June 7, 2022. Any vested DSUs are settled in shares of Class A Common Stock when a recipient’s service relationship is terminated for any reason. In connection with the Brigham Merger, two of the non-employee directors resigned from the Company's Board of Directors. In recognition of their service to Sitio, their remaining unvested DSUs were accelerated to vest in full on December 29, 2022. The following table summarizes activity related to unvested DSUs for the year ended December 31, 2022. Deferred Share Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 62,586 28.80 Forfeited — — Vested ( 20,862 ) 28.17 Unvested at December 31, 2022 41,724 $ 29.12 For the year ended December 31, 2022, the Company recognized $ 1.3 million of share-based compensation expense related to DSUs. As of December 31, 2022, there was approximately $ 526,000 of unamortized equity-based compensation expense related to unvested DSUs. That expense is expected to be recognized over a weighted average period of 0.4 years. For the years ended December 31, 2021 and 2020, there was no share-based compensation expense related to DSUs. Performance Stock Units In accordance with the Plan, the Compensation Committee is authorized to issue performance stock units (“PSUs”) to eligible employees and directors. In connection with the Falcon Merger in June 2022, the Board granted an annual equity-based award to our executive officers under the Incentive Plan, which consisted of PSUs. The PSUs will be eligible to be earned based on achievement of certain pre-established goals for annualized absolute Total Shareholder Return (“TSR”) over a three-year period following the consummation of the Falcon Merger. In December 2022, the Board further granted an annual equity-based award to certain employees under the Incentive Plan, which consisted of PSUs. The PSUs will be eligible to be earned based on achievement of certain pre-established goals for annualized absolute TSR over a three-year period following December 30, 2022. The performance targets associated with the PSU awards are outlined below: Annualized Percentage of Base of Range Less than 0 % 0 % Threshold 0 % 50 % Target 10 % 100 % Maximum 20 % 200 % For purposes of determining our annualized absolute TSR over the performance period, the beginning stock price will be based on our 20-day volume weighted average stock price beginning on the applicable grant date. The ending price will generally be based on the 20-day volume weighted average stock price ending on the last day of the performance period. PSU payouts for results that fall in between a stated threshold will be interpolated linearly. The grant date fair values of the PSUs were determined using Monte Carlo simulations, which use a probabilistic approach for estimating the fair value of the awards. The expected volatility was derived from the historical volatility of Falcon and Sitio. The risk-free interest rate was determined using the yield for zero-coupon U.S. Treasury bills that is commensurate with the performance measurement period. The PSU award agreements provide that TSR will be calculated assuming dividends distributed will be reinvested over the performance period. As such, we have applied a dividend yield of 0.00 %, which is mathematically equivalent to reinvesting dividends. The following table summarizes the assumptions used to determine the fair values of the PSUs: Grant Year Average Expected Volatility Risk-Free Interest Rate Expected Dividend Yield 2022 67.23 % - 67.30 % 2.89 % - 4.18 % 0.00 % The following table summarizes activity related to unvested PSUs for the year ended December 31, 2022. Performance Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 308,953 39.12 Forfeited — — Vested — — Unvested at December 31, 2022 308,953 $ 39.12 For the year ended December 31, 2022, the Company recognized $ 2.2 million of share-based compensation expense related to PSUs. As of December 31, 2022, there was approximately $ 9.9 million of unamortized equity-based compensation expense related to unvested PSUs. That expense is expected to be recognized over a weighted average period of 2.5 years. For the years ended December 31, 2021 and 2020 there was no share-based compensation expense related to PSUs. Restricted Stock Units Converted in the Brigham Merger In connection with the Brigham Merger, several legacy Brigham employees joined Sitio. The Board approved the grant of RSUs to these employees through the conversion of legacy Brigham RSUs to New Sitio RSUs at an exchange ratio of 1.133 Sitio RSUs for each Brigham RSU. These newly-issued RSUs under the Plan will retain the original vesting schedules of the Brigham RSUs, which vest in one-third increments on the anniversaries of the original grant dates of the Brigham RSUs. The Company estimated the fair value of the RSUs as the closing price of the Company’s Class A Common Stock on the grant date of the award, which is expensed over the applicable service period. The following table summarizes activity related to unvested RSUs converted in the Brigham Merger for the year ended December 31, 2022. Restricted Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 21,279 30.15 Forfeited — — Vested — — Unvested at December 31, 2022 21,279 $ 30.15 For the year ended December 31, 2022, the Company recognized $ 2,000 of share-based compensation expense related to the RSUs converted in the Brigham Merger. As of December 31, 2022, there was approximately $ 640,000 of unamortized equity-based compensation expense related to unvested RSUs converted in the Brigham Merger. That expense is expected to be recognized over a weighted average period of approximately 2.2 years. For the years ended December 31, 2021 and 2020, there was no share-based compensation expense related to these awards. Performance Stock Units Converted in the Brigham Merger In connection with the Brigham Merger, several legacy Brigham employees joined Sitio. The Board approved the grant of PSUs to these employees through the conversion of legacy Brigham PSUs to New Sitio PSUs at an exchange ratio of 1.133 Sitio PSUs for each Brigham PSU. The PSU grant carries over the remainder of the legacy three-year vesting period. The performance targets associated with the Brigham PSUs were deemed to have been achieved at 200 % as of the date of the Brigham Merger. Because all performance targets were achieved prior to conversion and the number of Class A Common Shares to be issued upon satisfaction of the service requirements is known, the Company estimated the fair value of the PSUs as the closing price of the Company’s Class A Common Stock on the grant date of the awards, which is expensed over the applicable service period. The following table summarizes activity related to unvested PSUs converted in the Brigham Merger for the year ended December 31, 2022. Performance Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 10,786 30.15 Forfeited — — Vested — — Unvested at December 31, 2022 10,786 $ 30.15 For the year ended December 31, 2022, the Company recognized $ 1,000 of share-based compensation expense related to PSUs converted in the Brigham Merger. As of December 31, 2022, there was approximately $ 324,000 of unamortized equity-based compensation expense related to unvested PSUs. That expense is expected to be recognized over a weighted average period of 2.2 years. For the years ended December 31, 2021 and 2020, there was no share-based compensation expense related to such awards. Sitio OpCo Restricted Stock Awards In connection with the Falcon Merger, legacy Desert Peak owners (the “Falcon Merger Sponsors”), desired to assign, transfer and convey their rights to receive a portion of their Falcon Merger Consideration to our executive officers as an incentive to continue to serve as executive officers following the Falcon Merger. The Falcon Merger Consideration consists of units of Sitio Royalties OpCo Partnership Units and an equal number of shares of Class C Common Stock. The conveyance of Falcon Merger Consideration, which consists of Class C Common Stock, is deemed to be a grant of restricted stock awards (each, an “RSA”) to our executive officers. Each Sitio OpCo RSA is expected to vest in equal installments on the first four anniversaries of June 6, 2022. The Company estimated the fair value of the RSAs as the closing price of the Company’s Class A Common Stock on the grant date of the award, which is expensed over the applicable service period. The following table summarizes activity related to unvested Sitio OpCo RSAs for the year ended December 31, 2022. Sitio OpCo Number of Grant Date Unvested at January 1, 2022 — $ — Granted 309,527 29.12 Forfeited — — Vested — — Unvested at December 31, 2022 309,527 $ 29.12 For the year ended December 31, 2022, the Company recognized $ 1.3 million of share-based compensation expense related to the Sitio OpCo RSAs. As of December 31, 2022, there was approximately $ 7.7 million of unamortized equity-based compensation expense related to the unvested Sitio OpCo RSAs. That expense is expected to be recognized over a weighted average period of approximately 3.4 years. For the years ended December 31, 2021 and 2020, there was no share-based compensation expense related to the Sitio OpCo RSAs.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2022
Warrants And Rights Note Disclosure [Abstract]
Warrants	In July 2017, Falcon consummated its IPO of units, each consisting of one share of Class A Common Stock and one-half of one warrant (the “Public Warrants”). As a result of the Falcon Merger, the Company’s Warrants were adjusted such that four whole Public Warrants became exercisable for one share of Class A Common Stock at an exercise price of $ 44.84 per share of Class A Common Stock. Pursuant to the Warrant Agreement, to the extent that any common stock dividend paid by the Company, when combined with other common stock dividends paid in the prior 365 days , exceeds $ 2.00 , it is categorized as an Extraordinary Dividend. Extraordinary Dividends reduce, penny for penny, the exercise price of the Warrants. As of December 31, 2022, the exercise price of the Warrants was $ 44.63 after giving effect to the Reverse Stock Split and after the Extraordinary Dividends that were paid subsequent to the Falcon Merger. The Public Warrants will expire in August 2023 or earlier upon redemption or liquidation. The Company may call the Public Warrants for redemption, in whole and not in part, at a price of $ 0.01 per warrant with not less than 30 days ’ notice provided to the Public Warrant holders. However, this redemption right can only be exercised if the last sale price of the Class A Common Stock equals or exceeds $ 72.00 per share, after giving effect to the Reverse Stock Split, for any 20 trading days within a 30 -day trading period ending three business days before we send the notice of redemption to the Public Warrant holders. Upon closing of Falcon’s IPO, Osprey Sponsor, LLC (the “IPO Sponsor”) purchased an aggregate of 7,500,000 warrants (the “Private Placement Warrants”) at a price of $ 1.00 per warrant. As a result of the Falcon Merger, the Company’s Private Placement Warrants were adjusted such that four Private Placement Warrants are exercisable for one share of Class A Common Stock at an exercise price of $ 44.63 per share of Class A Common Stock. The Private Placement Warrants are identical to the Public Warrants discussed above, except (a) they will not be redeemable by the Company so long as they are held by the IPO Sponsor and (b) they may be exercisable by the holders on a cashless basis. The Company accounted for the Public Warrants and Private Placement Warrants in accordance with ASC 815 – Derivatives and Hedging (“ASC 815”). ASC 815 provides guidance for determining whether an equity-linked financial instrument (or embedded feature) is indexed to an entity’s own stock. This applies to any freestanding financial instrument or embedded feature that has all the characteristics of a derivative under ASC 815, including any freestanding financial instrument that is potentially settled in an entity’s own stock. Due to certain circumstances that could require the Company to settle the Warrants in cash, the Warrants have been classified as derivative liabilities, as opposed to an equity contract. Therefore, the Warrants were recorded at fair value at the time of the Falcon Merger and are remeasured at each reporting period with the change in fair value recorded in the statements of operations. As of December 31, 2022, there were 13,749,998 Public Warrants outstanding and 7,500,000 Private Placement Warrants outstanding. There were no Warrants outstanding for the Predecessor as of December 31, 2021. The fair value of the Public Warrants was determined using the readily observable publicly traded price (Level 1) as of the end of the reporting period. The fair value of the Public Warrants as of December 31, 2022 was $ 1.6 million. The fair value of the Private Placement Warrants was estimated utilizing a Black-Scholes model using the following range of significant unobservable inputs (Level 3) as of December 31, 2022: Stock price $ 28.85 Volatility 47.0 % Risk-free rate 4.70 % Dividend yield 6.93 % Term 0.7 years The following is a reconciliation of the beginning and ending balance for the Private Placement Warrant liability measured at fair value using significant unobservable inputs (Level 3) during the year ended December 31, 2022 (in thousands). There were no Warrants outstanding for the Predecessor prior to the date of the Falcon Merger. Year Ended 2022 Balance at June 7 $ 2,213 Decrease in fair value ( 844 ) Balance at December 31 $ 1,369

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instrument Detail [Abstract]
Derivative Instruments	Commodity Derivatives The Company may enter into commodity derivative contracts to manage its exposure to oil and gas price volatility associated with its production. These derivatives are not entered into for trading or speculative purposes. While the use of these instruments limits the downside risk of adverse commodity price changes, their use may also limit future cash flows from favorable commodity price changes. Depending on acquisitions consummated, changes in oil and gas futures markets, and management’s view of underlying supply and demand trends, the Company may increase or decrease its derivative positions. The Company’s commodity derivative contracts have not been designated as hedges for accounting purposes; therefore, all gains and losses on commodity derivatives are recognized in the Company’s statements of operations. The Company may utilize fixed price swaps, basis swaps, and two- and three-way collars to manage commodity price risks. The Company may enter into these contracts when management believes that favorable future sales prices for the Company’s production can be secured and acquisitions consummated are accretive. Under fixed price swap agreements, when actual commodity prices upon settlement exceed the fixed price provided by the swap contracts, the Company pays the difference to the counterparty. When actual commodity prices upon settlement are less than the contractually provided fixed price, the Company receives the difference from the counterparty. The Company may also enter into basis swap contracts in order to hedge the difference between the New York Mercantile Exchange (“NYMEX”) index price and a local index price that is representative of the price received by many of our operators. Under collar agreements, the Company receives the difference between the published index price and a floor price if the index price is below the floor price or the Company pays the difference between the ceiling price and the index price if the index price is above the ceiling price. No amounts are paid or received if the index is between the floor and the ceiling. By utilizing a collar, the Company has fixed the minimum and maximum prices received on the underlying production. The Company’s oil and gas swap contracts as of December 31, 2022 are summarized below: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Price per Bbl January 2023 - December 2023 3,050 $ 93.71 January 2024 - December 2024 3,300 $ 82.66 January 2025 - June 2025 1,100 $ 74.65 Gas (NYMEX Henry Hub) Remaining Term MMBtu per Day Weighted Average Price per MMBtu January 2023 - December 2023 500 $ 3.83 January 2024 - December 2024 500 $ 3.41 The Company’s oil and gas two-way commodity collar contracts as of December 31, 2022 are summarized below: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl January 2025 – June 2025 2,000 $ 60.00 $ 93.20 Gas (NYMEX Henry Hub) Remaining Term MMBtu per Day Weighted Average Floor Price per MMBtu Weighted Average Ceiling Price per MMBtu January 2023 - December 2023 8,500 $ 4.82 $ 7.93 January 2024 - December 2024 11,400 $ 4.00 $ 7.24 January 2025 – June 2025 11,600 $ 3.31 $ 10.34 The Company was not party to any basis swaps or three-way collar contracts as of December 31, 2022. The Company was not party to any derivative contracts as of December 31, 2021. Interest Rate Derivatives In November 2022, the Company entered into an interest rate swap agreement for an initial notional amount of $ 225.0 million. Such notional amount decreases by $ 5.625 million every 91 days. The interest rate swap manages exposure to changes in interest rates from variable rate obligations related to the 2026 Senior Notes. The interest rate swap term expires December 31, 2023 . The Company’s interest rate derivative contract have not been designated as hedges for accounting purposes; therefore, all gains and losses on interest rate derivatives are recognized in the Company’s statements of operation. The interest rate swap was not entered into for trading or speculative purposes. Financial Summary The following table presents a summary of the Company’s derivative instruments and where such values are recorded on the consolidated balance sheet as of December 31, 2022 and 2021 (in thousands): December 31, 2022 December 31, 2021 Balance sheet Fair value Balance sheet Fair value Asset derivatives not designated as hedges for accounting purposes: Commodity contracts Current assets $ 18,555 Current assets $ — Interest rate contracts Current assets 319 Current assets — Commodity contracts Long-term assets 13,379 Long-term assets — Total asset derivatives $ 32,253 $ — Liability derivatives not designated as hedges for accounting purposes: Commodity contracts Current liabilities $ — Current liabilities $ — Commodity contracts Long-term liabilities — Long-term liabilities — Total liability derivatives $ — $ — Net derivatives $ 32,253 $ — The following table presents the gross fair values of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties, and the resulting net amounts presented on the consolidated balances sheet (in thousands): December 31, 2022 December 31, 2021 Gross Fair Value Gross Amounts Offset Net Fair Value Gross Fair Value Gross Amounts Offset Net Fair Value Commodity derivative assets $ 36,813 $ ( 4,879 ) $ 31,934 $ — $ — $ — Interest rate derivative assets 319 — 319 — — — Commodity derivative liabilities ( 4,879 ) 4,879 — — — — The following table is a summary of derivative gains and losses, and where such values are recorded in the consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020 (in thousands): Year Ended December 31, Statement of 2022 2021 2020 Commodity derivative gains Other income $ 39,037 $ — $ 2,573 Interest rate derivative gains Other income $ 110 $ — $ — The fair values of commodity derivative instruments and interest rate derivative instruments were determined using Level 2 inputs. Credit Risk in Derivative Instruments The Company is exposed to credit risk to the extent of nonperformance by the counterparties in the derivative contracts discussed above. All commodity derivative counterparties and interest rate derivative counterparty are current lenders under the Sitio Revolving Credit Facility. Accordingly, the Company is not required to provide any credit support to its derivative counterparties other than cross collateralization with the properties securing the Sitio Revolving Credit Facility. The Company’s derivative contracts are documented with industry standard contracts known as a Schedule to the Master Agreement and International Swaps and Derivative Association, Inc. Master Agreement (“ISDA”). Typical terms for each ISDA include credit support requirements, cross default provisions, termination events, and set-off provisions. The Company has set-off provisions with its lenders that, in the event of counterparty default, allow the Company to set-off amounts owed under the Sitio Revolving Credit Facility or other general obligations against amounts owed to the Company for derivative contract assets.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	The Company is subject to ASC 820 – Fair Value Measurements and Disclosures (“ASC 820”) . ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Inputs are used in applying the various valuation techniques and broadly refer to the assumptions that market participants use to make valuation decisions, including assumptions about risk. Inputs may include price information, volatility statistics, specific and broad credit data, liquidity statistics, and other factors. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes “observable” requires significant judgment by management. Management considers observable data to be market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The categorization of a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and does not necessarily correspond to management’s perceived risk of that instrument. Level 1 – Fair values are based on unadjusted quoted prices in active markets that are accessible at the measurement date of identical, unrestricted assets. Level 2 – Fair values are based on quoted prices for markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly. Level 3 – Inputs that are unobservable and significant to the overall fair value measurement and include situations where there is little, if any, market activity for the asset or liability. The Company’s proved oil and gas properties are assessed for impairment on a periodic basis. If the Company’s proved properties are determined to be impaired, the carrying basis of the properties is adjusted down to fair value. This represents a fair value measurement that would qualify as a non-recurring Level 3 fair value measurement. The fair value represents management’s best estimate using the inputs available as of December 31, 2022 and 2021. No impairment of proved properties was recorded for the years ended December 31, 2022, 2021 and 2020. The fair value of the Company’s commodity derivative instruments (Level 2) was estimated using quoted forward prices for commodities, discounted cash flows and credit risk adjustments. The fair value of the Company's interest rate swap (Level 2) was estimated using quoted SOFR curves, discounted cash flows and credit risk adjustments. See “Note 13 – Derivative Instruments” for further information on the fair value of the Company’s derivative instruments. The fair value of the Company’s Public Warrants was determined using readily observable, publicly-traded prices (Level 1) for the warrants as of December 31, 2022. The fair value of the Company’s Private Placement Warrants was estimated utilizing a Black-Scholes model using a range of significant unobservable inputs (Level 3). See “Note 12 – Warrants” for further information on the fair value of the Company’s Public Warrants and Private Placement Warrants. The carrying values of cash, accrued revenue, accounts receivable, accounts payable, and accrued liabilities are considered to be representative of their respective fair values due to the short-term nature of these instruments. The carrying amount of debt outstanding pursuant to our 2026 Senior Notes and revolving credit facilities approximates fair value as the borrowings bear interest at variable rates and are reflective of market rates (Level 2). Certain nonfinancial assets and liabilities, such as assets and liabilities acquired in a business combination, are measured at fair value on a nonrecurring basis on the acquisition date and are subject to fair value adjustments under certain circumstances. Inputs used to determine such fair values are primarily based upon internally-developed engineering and geology models, publicly-available drilling disclosures, a risk-adjusted discount rate, and publicly-available data regarding mineral transactions consummated by other buyers and sellers (Level 3). Mineral assets not acquired through a business combination are measured at fair value on a nonrecurring basis on the acquisition date. The original purchase price of mineral assets is allocated between proved and unproved properties based on the estimated fair values. Inputs used to determine such fair values are primarily based upon internally-developed engineering and geology models, publicly-available drilling disclosures, a risk-adjusted discount rate, and publicly-available data regarding mineral transactions consummated by other buyers and sellers (Level 3).

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Effective January 1, 2022, the Company began accounting for leases in accordance with ASC Topic 842 – Leases , which requires lessees to recognize lease liabilities and right-of-use assets on the balance sheet for contracts that provide lessees with the right to control the use of identified assets for periods of greater than 12 months. The Company has elected the effective date method for adoption of the new leasing standard under ASC Topic 842. This method allows the Company to not make retrospective adjustments for leases that were in effect prior to the adoption date of January 1, 2022 when disclosing comparable prior periods, but instead, account for the prior period leases under ASC Topic 840, which was the guidance in place at the time of the original reporting. Real Estate Leases The Company has operating leases for office space in Denver, CO, Houston, TX, and Austin, TX that provide the right to control the use of the specified office space over the terms of the contracts. These leases require the Company to make monthly rental payments as stated in the agreements, as well as additional, variable payments for the Company's share of operating expenses and taxes incurred by the lessors. At the Company's option, the terms of these leases can be renewed for varying periods. These optional renewal periods have not been included in the lease term. As of December 31, 2022, these leases had remaining lease terms ranging from 2.2 to 7.2 years. These leases do not contain residual value guarantees, options to purchase the underlying office space, or terms or covenants that impose restrictions on our ability to pay dividends, incur debt, or enter into additional leases. Lease expense on each of these operating leases is recognized over the term of the lease on a straight-line basis. Lease expense for the years ended December 31, 2022, 2021, and 2020 was $ 869,000 , $ 540,000 , and $ 435,000 , respectively. The Company subleases one of the office leases to a third-party. Fixed rental income for this sublease is recognized on a straight-line basis over the lease term. During the year ended December 31, 2022, sublease income was $ 266,000 . The Company had no sublease income for the years ended December 31, 2021 and 2020. Lease liabilities associated with the real estate leases were recorded at the present value of the estimated future lease payments, after considering the following: • Base rental payments, as stated in the agreements, are considered fixed lease payments, while additional payments for operating expenses and property taxes are variable lease payments. In accordance with ASC Topic 842, variable rental payments are excluded from the calculation of lease liabilities and are expensed as incurred. • At commencement of each lease, the Company was not reasonably certain to exercise the option to renew or terminate such lease. As such, the optional renewal periods are not included in the lease terms. • None of the agreements contain an implicit rate. As such, the discount rate used to calculate each lease liability was based on the Company's incremental borrowing rate, which was estimated utilizing our then current Credit Facility borrowing rates and adjusted for lease term. Easements The Company also enters into leasing transactions in which the Company is the lessor, primarily through land easements. The Company performed evaluations on all term-based land easement payments received during the year ended December 31, 2022 and determined that all such payments were immaterial in the aggregate. Balance Sheet Presentation The following tables present the amounts and classifications of our estimated right-of-use assets, net and lease liabilities as of December 31, 2022 (in thousands): Balance sheet December 31, 2022 Operating leases: Operating lease right-of-use asset Long-term assets $ 5,679 Total assets $ 5,679 Operating leases: Current operating lease liability Current liabilities $ 1,563 Non-current operating lease liability Long-term liabilities 5,303 Total liability $ 6,866 Lease Term and Discount Rate The following table presents the weighted-average remaining lease terms and discount rates of our leases as of the indicated date: December 31, 2022 Weighted average remaining lease term in years 5.4 Weighted average discount rate 7.0 % Lease Liability Maturity Analysis The following table is a schedule of future minimum payments for operating lease liabilities as of December 31, 2022 (in thousands): Year Total 2023 $ 1,563 2024 1,603 2025 1,517 2026 1,530 2027 1,109 Thereafter 875 Total lease payments 8,197 Less imputed interest ( 1,331 ) Total lease liabilities $ 6,866

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	16. Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period during which the change in rates is enacted. The Company has evaluated all tax positions for which the statute of limitations remains open and believes that the material positions taken would more likely than not be sustained by examination. Therefore, at December 31, 2022 and 2021, the Company had not established any reserves for, nor recorded any unrecognized benefits related to, uncertain tax positions. The Predecessor was a limited partnership that was not subject to U.S. federal income tax, but was subject to the Texas Margin Tax and state income taxes in New Mexico. As part of the Falcon Merger, the Predecessor contributed the interests in Desert Peak to Sitio OpCo in exchange for shares of Class C Common Stock and Sitio OpCo Units. On the date of the Falcon Merger, a corresponding “first day” deferred tax liability of approximately $ 3.6 million was recorded to establish a net deferred tax liability for differences between the tax and book basis of the Company’s investment in Sitio OpCo. As part of the Brigham Merger, the Company acquired Brigham in exchange for shares of the Company’s Class A Common Stock or shares of the Company’s Class C Common Stock and Sitio OpCo Units, as applicable to each prior shareholder in Brigham. On the date of the Brigham Merger, a corresponding deferred tax liability of approximately $ 316.6 million was recorded to establish a net deferred tax liability for differences between the tax and book basis of the Company’s investment in Brigham Minerals Holdings, LLC. Sitio Royalties Corp. is a corporation and is subject to U.S. federal income tax. The tax implications of the Falcon Merger, the Brigham Merger and the tax impact of the Company’s status as a taxable corporation subject to U.S. federal income tax have been reflected in the accompanying consolidated financial statements. The effective combined U.S. federal and state income tax rate for the year ended December 31, 2022 was 3.0 %. During the twelve months ended December 31, 2022, 2021 and 2020, the Company recognized income tax expense of $ 5.7 million, $ 486,000 , and $ 22,000 . Total income tax expense for the years ended December 31, 2022, 2021 and 2020 differed from amounts computed by applying the U.S. federal statutory tax rate of 21 % to pre-tax book income for those periods principally because of the Company’s temporary equity and noncontrolling interest, as well as the fact that the Predecessor was not subject to U.S. federal income taxes. The components of the income tax provision were as follows for the periods indicated: Years Ended December 31, 2022 2021 2021 Current $ 4,050 $ 486 $ 22 Deferred 1,631 — — Income tax expense (benefit) $ 5,681 $ 486 $ 22 The effective tax rate on pre-tax income differs from the Federal statutory rate of 21 % for the years ended December 31, 2022, 2021, and 2020 due to the following: Years Ended December 31, 2022 2021 2020 Income (loss) before income taxes $ 189,812 $ 47,981 $ ( 14,192 ) Less: (income) loss before taxes attributable to Predecessor ( 78,745 ) ( 47,981 ) 14,192 Less: income before taxes attributable to temporary equity ( 91,224 ) — — Less: loss before taxes attributable to noncontrolling interest 19 — — Income before tax attributable to stockholders $ 19,862 $ — $ — Income tax expense at Federal statutory rate $ 4,171 — — State taxes, net of federal benefit 1,707 486 22 Non-deductible transaction costs 452 — — Warranty liability adjustment ( 769 ) — — Other, net 120 — — Provision for income taxes $ 5,681 $ 486 $ 22 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows: 2022 2021 2020 Deferred tax assets: Investment in subsidiary — — — Total deferred tax assets: $ — $ — $ — Deferred tax liabilities: Investment in subsidiary 313,607 — — Total deferred tax liabilities $ 313,607 $ — $ — Net deferred tax assets (liabilities) $ ( 313,607 ) $ — $ — There were no deferred tax assets or liabilities for the Company prior to the closing of the Falcon Merger. The 2019 through 2022 tax years remain open to examination by the tax jurisdictions in which the Company is subject to tax. The statute of limitations with respect to the state income tax returns of the Company for the year ended December 31, 2018, and prior are closed (except to the extent any net operating loss carryovers are used in open years). As of December 31, 2022, the Company has no t recorded a reserve for any uncertain tax positions.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	From time to time, the Company may be involved in various legal proceedings, lawsuits, and other claims in the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. Management does not believe that the resolution of these matters will have a material adverse impact on our financial condition, cash flows or results of operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	The Predecessor was founded by Kimmeridge Energy Management Company, LLC (collectively with its affiliates, “Kimmeridge” or the “Manager”). Common Control Transaction The Predecessor had acquired oil and gas properties from separate limited partnerships whereby the general partner of the Predecessor and the general partner of the separate limited partnerships were affiliated. These transactions were accounted for as a reduction to partners’ capital as the affiliated entities were under common control. The following transaction was completed during the year ended December 31, 2021: Delaware Basin ORRIs Acquisition In October 2020, another partnership owned and managed by Kimmeridge acquired a 2.0 % (on an 8/8ths basis) overriding royalty interest in all of Callon’s operated assets in the Delaware Basin, proportionately reduced to Callon’s net revenue interest. In June 2021, the Predecessor entered into a definitive agreement to acquire 84 % of the Delaware Basin portion of the Chambers ORRI from Chambers Minerals, LLC, a subsidiary of Fund V. Immediately following the consummation of the contributions of assets to the Predecessor, Chambers HoldCo, LLC (the managing member of Chambers Minerals, LLC) was issued equity in DPM HoldCo. As the general partner of Fund V and the General Partner of the Predecessor were affiliated, the transaction was required to be and was subsequently approved by the Predecessor’s Limited Partner Advisory Committee in June 2021. The Chambers Acquisition was accounted for as an asset acquisition. The Chambers Acquisition was also accounted for as a transaction between entities under common control; the controlling ownership and management of the general partner of Fund V and the general partner of the Predecessor had significant overlap, including responsibility for the management, control, and direction of the business affairs of the respective partnerships. As the Predecessor and Fund V are entities under common control, the Predecessor recorded the acquisition utilizing the properties’ net book value. The properties acquired by the Predecessor had a historical net book value to Fund V at the time of sale of approximately $ 60.6 million ($ 45.3 million was allocated to unproved property and $ 15.3 million was allocated to proved property). Accordingly, the $ 37.5 million excess of the fair value of the properties above their net book value was recorded as a decrease to partners’ capital at the date of the transaction. Predecessor Management Fees The Predecessor entered into a management services arrangement with the Manager. For the years ended December 31, 2022, 2021 and 2020, the Manager earned and was paid approximately $ 3.2 million, $ 7.5 million, and $ 7.5 million in management fees relating to management services, respectively. This arrangement terminated in connection with the Falcon Merger. Cost Reimbursements and Allocations from Affiliates General and administrative expenses and certain capitalizable costs are not directly associated with the generation of the Predecessor’s revenues and include costs such as employee compensation, office expenses and fees for professional services. These costs were allocated on a “time spent” basis, a pro rata basis, or by another manner which was designed to be fair and equitable. Some of those costs were incurred on the Predecessor’s behalf and allocated to the Predecessor by the Manager and its affiliates and reimbursed by the Predecessor. These costs may not be indicative of costs incurred by the Predecessor had such services been provided by an unaffiliated company during the period presented. The Company has not estimated what these costs and expenses would be if they were incurred by the Predecessor on a standalone basis as such estimate would be impractical and lack precision. The Company believes the methodology utilized by Kimmeridge Operations, LLC (a subsidiary of the Manager, “Kimmeridge Operations”) and the Manager for the allocation of these costs to be reasonable. From time to time, the Predecessor reimbursed Kimmeridge Operations and the Manager for general and administrative expenses. Kimmeridge Operations staff performed land and administrative services on behalf of the Predecessor and the Predecessor reimbursed the Manager for investment and expenses pre-funded on behalf of the Predecessor. For the years ended December 31, 2022, 2021 and 2020, the Predecessor reimbursed approximately $ 74,000 , $ 8.8 million, and $ 4.2 million related to these services. As of December 31, 2022 there were no amounts due to Kimmeridge Operations or the Manager. As of December 31, 2021, approximately $ 142,000 was due to the Manager.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Management has evaluated all subsequent events from the balance sheet date through the date these financial were available to be issued for disclosure or recognition within these financial statements and no items requiring disclosure were identified except for the events identified below. Third Amendment to Second Amended and Restated Credit Agreement On February 3, 2023, the Sitio Credit Agreement was amended and restated in its entirety pursuant to a Third Amended and Restated Credit Agreement (the “New Credit Agreement”) entered into by Sitio OpCo, as borrower, JPMorgan Chase Bank, N.A., as the administrative agent and as issuing bank, and the lenders and other financial institutions (the “Lenders”). The New Credit Agreement refinanced the Sitio Credit Agreement in full and paid off the Brigham Credit Agreement in full. Pursuant to the terms and conditions of the New Credit Agreement, the Lenders committed to providing a credit facility to Sitio OpCo in an aggregate principal amount of up to $ 1.5 billion. The New Credit Agreement has a $ 750 million borrowing base and $ 750 million elected commitment amount. As part of the aggregate commitments under the revolving advances, the New Credit Agreement provides for letters of credit to be issued at the request of the borrower in an aggregate amount not to exceed $ 15.0 million. The New Credit Agreement has a scheduled maturity date that is the earlier of June 2027 or 180 days prior to the maturity of any outstanding senior notes. Interest accrues on advances, at the borrower’s option, at a Term SOFR rate or a base rate, plus an applicable margin. The fees for letters of credit are also based on the applicable margin. The applicable margin used in connection with interest rates and fees is based on the Borrowing Base Utilization Percentage (as defined in the New Credit Agreement). The applicable margin for Term SOFR rate loans and letter of credit fees ranges from 2.500 % to 3.500 %, and the applicable margin for base rate loans ranges from 1.500 % to 2.500 %. The credit spread adjustment ranges from 0.100 % to 0.250 % depending on the applicable interest rate and interest rate period. The borrower will also pay a fee based on the borrowing base utilization percentage on the actual daily unused amount of the aggregate revolving commitments ranging from 0.375 % to 0.500 %. The borrowings under the New Credit Agreement are secured by liens on certain assets of the borrower, Sitio Royalties GP, LLC, a Delaware limited liability company, and certain of the borrower’s subsidiaries, including the Brigham Entities, and are guaranteed by the borrower and such subsidiaries. Proceeds from borrowings under the New Credit Agreement may be used for various purposes, including but not limited to (i) for working capital and other general company purposes including acquisitions (ii) for payment of certain transaction fees and expenses, and (iii) to repay and refinance third party-debt of the borrower and its subsidiaries existing prior to February 3, 2023. The New Credit Agreement contains customary representations, warranties, covenants and events of default, including, among others, a change of control event of default and reporting obligations, restrictions on asset sales, restrictions on additional debt and lien incurrence and restrictions on making dividends, distributions or equity buybacks, restrictions on paying other debt and restriction on certain investments. During the continuance of an event of default, the Lenders may take a number of actions, including, among others, declaring the entire amount then outstanding under the New Credit Agreement to be due and payable. The New Credit Agreement includes a financial covenant limiting, as of the last day of each fiscal quarter, the ratio of (a) (i) Total Net Debt (as defined in the New Credit Agreement) as of such date to (ii) EBITDA (as defined in the New Credit Agreement), for the period of four fiscal quarters ending on such day, to not more than 3.50 to 1.00, and (b) (i) consolidated current assets (including the available commitments under the New Credit Agreement) to (ii) consolidated current liabilities (excluding current maturities under the New Credit Agreement), to not less than 1.00 to 1.00, in each case, with certain rights to cure. As of March 3, 2023, the Company had $ 407.0 million of outstanding borrowings. Second Amendment to Note Purchase Agreement On February 3, 2023 , the Brigham Entities became guarantors under the Note Purchase Agreement, pursuant to that certain Second Amendment to the Note Purchase Agreement. Treasury Shares In connection with the Brigham Merger, the Company acquired 633,005 shares of Class A Common Stock, which gives effect to the exchange ratio of 1.133 Sitio Class A Common Stock for each Brigham Class A common stock, which were held in treasury by Brigham. The shares were canceled on January 12, 2023. Cash Dividends On March 8, 2023, the Company declared a cash dividend of $ 0.60 per share of Class A Common Stock with respect to the fourth quarter of 2022. The dividend is payable on March 31, 2023 to the stockholders of record at the close of business on March 17, 2023.

Supplemental Oil and Gas Inform

Supplemental Oil and Gas Information (Unaudited)	12 Months Ended
	Dec. 31, 2022
Extractive Industries [Abstract]
Supplemental Oil and Gas Information (Unaudited)	20. Supplemental Oil and Gas Information (Unaudited) The Company’s oil and natural gas reserves are attributable solely to properties within the United States. Capitalized oil and natural gas costs Aggregate capitalized costs related to oil and natural gas production activities with applicable accumulated depreciation, depletion and amortization are as follows (in thousands): December 31, 2022 December 31, 2021 Oil and natural gas interests: Unproved $ 3,244,436 $ 817,873 Proved 1,926,214 447,369 Total oil and natural gas interests 5,170,650 1,265,242 Accumulated depletion and impairment ( 222,072 ) ( 118,175 ) Net oil and natural gas interests capitalized $ 4,948,578 $ 1,147,067 Costs incurred in oil and natural gas activities Costs incurred in oil and natural gas property acquisition, exploration and development activities are as follows (in thousands): December 31, December 31, Acquisition costs Unproved properties $ 283,341 $ 20,192 Proved properties 274,228 18,278 Total $ 557,569 $ 38,470 Results of Operations from Oil and Natural Gas Producing Activities The following schedule sets forth the revenues and expenses related to the production and sale of oil and natural gas (in thousands). It does not include any interest costs or general and administrative costs and, therefore, is not necessarily indicative of the net operating results of the Company’s oil, natural gas and NGL operations. Years Ended December 31, 2022 2021 2020 Oil, natural gas and natural gas liquids revenues $ 355,430 $ 118,548 $ 44,194 Severance and ad valorem taxes ( 25,572 ) ( 6,934 ) ( 3,167 ) Depletion ( 103,898 ) ( 40,318 ) ( 31,440 ) Impairment of oil and natural gas properties — — ( 812 ) Income tax expense ( 5,681 ) ( 486 ) ( 22 ) Results of operations from oil, natural gas and natural gas liquids $ 220,279 $ 70,810 $ 8,753 The reserves at December 31, 2022, 2021 and 2020 presented below were prepared by Cawley, Gillespie & Associates, Inc. (“CG&A”), independent petroleum engineers. Estimates of proved reserves are inherently imprecise and are continually subject to revision based on production history, results of additional exploration and development, price changes and other factors. The reserves are located in Texas, New Mexico, Oklahoma, Colorado, Wyoming, North Dakota, Pennsylvania, Ohio and West Virginia. Guidelines prescribed in FASB ASC Topic 932 Extractive Industries – Oil and Gas (“ASC Topic 932”) have been followed for computing a standardized measure of future net cash flows and changes therein related to estimated proved reserves. Future cash inflows and future production costs are determined by applying prices and costs, including transportation, quality, and basis differentials, to the period-end estimated quantities of oil, natural gas and NGL to be produced in the future. The resulting future net cash flows are reduced to present value amounts by applying a ten percent annual discount factor. Future ad valorem taxes are determined based on estimates of expenditures to be incurred in producing the proved oil and gas reserves in place at the end of the period using period-end costs and assuming continuation of existing economic conditions. The assumptions used to compute the standardized measure are those prescribed by the FASB and the SEC. These assumptions do not necessarily reflect management’s expectations of actual revenues to be derived from those reserves, nor their present value. The limitations inherent in the reserve quantity estimation process, as discussed previously, are equally applicable to the standardized measure computations since these reserve quantity estimates are the basis for the valuation process. Reserve estimates are inherently imprecise and estimates of new discoveries and undeveloped locations are more imprecise than estimates of established proved producing oil and gas properties. Accordingly, these estimates are expected to change as future information becomes available. Analysis of Changes in Proved Reserves The following table sets forth information regarding the Company’s net ownership interest in estimated quantities of proved developed and undeveloped oil and natural gas quantities and the changes therein for each of the periods presented: Oil Natural Gas Natural Gas Liquids Total Balance as of December 31, 2019 5,839 24,493 2,774 12,695 Revisions ( 1,098 ) ( 867 ) 65 ( 1,178 ) Extensions 995 3,486 423 1,999 Acquisition of reserves 445 633 77 628 Divestiture of reserves ( 173 ) ( 209 ) ( 26 ) ( 234 ) Production ( 933 ) ( 4,134 ) ( 488 ) ( 2,110 ) Balance as of December 31, 2020 5,075 23,402 2,825 11,800 Revisions 180 6,531 405 1,674 Extensions 610 1,991 216 1,158 Acquisition of reserves 7,240 19,165 2,076 12,511 Production ( 1,261 ) ( 4,746 ) ( 499 ) ( 2,551 ) Balance as of December 31, 2021 11,844 46,343 5,023 24,592 Revisions ( 231 ) 2,926 1,093 1,349 Extensions 3,280 8,986 1,160 5,938 Acquisition of reserves 23,025 110,718 12,183 53,660 Production ( 2,861 ) ( 9,531 ) ( 1,100 ) ( 5,550 ) Balance as of December 31, 2022 35,057 159,442 18,359 79,989 Proved developed and undeveloped reserves: Oil Natural Gas Natural Gas Liquids Total Developed as of December 31, 2019 4,223 20,293 2,298 9,903 Undeveloped as of December 31, 2019 1,616 4,200 476 2,792 Balance at December 31, 2019 5,839 24,493 2,774 12,695 Developed as of December 31, 2020 3,731 19,505 2,352 9,334 Undeveloped as of December 31, 2020 1,344 3,897 473 2,466 Balance at December 31, 2020 5,075 23,402 2,825 11,800 Developed as of December 31, 2021 9,285 40,747 4,417 20,494 Undeveloped as of December 31, 2021 2,559 5,596 606 4,098 Balance at December 31, 2021 11,844 46,343 5,023 24,592 Developed as of December 31, 2022 27,407 133,489 15,169 64,824 Undeveloped as of December 31, 2022 7,650 25,953 3,190 15,165 Balance at December 31, 2022 35,057 159,442 18,359 79,989 For the year ended December 31, 2022, the Company had downward revisions of 231 MBbls of oil, offset by upward revisions of 2,926 MMcf of gas and 1,093 MBbls of NGL. Total upward revisions of 1,349 MBOE were primarily due to upward revisions of 831 MBOE related to changes in estimated ultimate recovery and upward revisions of 377 MBOE due to increases in pricing. For the year ended December 31, 2022, the Company had extensions of 3,280 MBbls of oil, 8,986 MMcf of gas, and 1,160 MBbls of NGLs of which 814 MBbls of oil, 1,748 MMcf of gas, and 224 MBbls of NGLs were from conversions of non-proved resources to proved developed producing and proved developed not producing due to operator drilling activity and 2,466 MBbls of oil, 7,238 MMcf of gas, and 936 MBbls of NGLs were from additional proved undeveloped reserves. In 2022, the Company acquired royalty and mineral interests of 23,025 MBbls of oil, 110,718 MMcf of gas, and 12,183 MBbls of NGLs through multiple acquisitions. For the year ended December 31, 2022, the Company did not divest any royalty and mineral interests. For the year ended December 31, 2021, the Predecessor had upward revisions of 180 MBbls of oil and 6,531 MMcf of gas and 405 MBbls of NGL. Total upward revisions of 1,674 MBOE were primarily due to upward revisions of 1,184 MBOE related to changes in estimated ultimate recovery and upward revisions of 490 MBOE due to increases in pricing. For the year ended December 31, 2021, the Predecessor had extensions of 610 MBbls of oil, 1,991 MMcf of gas, and 216 MBbls of NGLs of which 289 MBbls of oil, 883 MMcf of gas, and 96 MBbls of NGLs were from conversions of non-proved resources to proved developed producing and proved developed not producing due to operator drilling activity and 321 MBbls of oil, 1,108 MMcf of gas, and 120 MBbls of NGLs were from additional proved undeveloped reserves. In 2021, the Predecessor acquired royalty and mineral interests of 7,240 MBbls of oil, 19,165 MMcf of gas, and 2,076 MBbls of NGLs through multiple acquisitions. For the year ended December 31, 2021, the Predecessor did not divest any royalty and mineral interests. For the year ended December 31, 2020, the Partnership had downward revisions of 1,098 MBbls of oil and 867 MMcf of gas and upward revisions of 65 MBbls of NGL. Total downward revisions of 1,178 MBOE were primarily due to downward revisions of 887 MBOE related to changes in estimated ultimate recovery and downward revisions of 239 MBOE due to decreases in pricing. For the year ended December 31, 2020, the Partnership had extensions of 995 MBbls of oil, 3,486 MMcf of gas, and 423 MBbls of NGLs of which 192 MBbls of oil, 672 MMcf of gas, and 81 MBbls of NGLs were from conversions of non-proved resources to proved developed producing due to operator drilling activity and 803 MBbls of oil, 2,814 MMcf of gas, and 342 MBbls of NGLs were from additional proved undeveloped reserves. In 2020, the Partnership acquired royalty and mineral interests of 445 MBbls of oil, 633 MMcf of gas, and 77 MBbls of NGLs through multiple acquisitions. For the year ended December 31, 2020, the Partnership divested royalty and mineral interests of 173 MBbls, 209 MMcf, and 26 MBbls of proved oil, natural gas, and NGL, respectively, in conjunction with the conveyances to DRC described in “Note 7 - Acquisitions.” Standardized Measure of Oil and Gas The standardized measure of discounted future net cash flows is based on the unweighted average, first-day-of-the-month price. The projections should not be viewed as realistic estimates of future cash flows, nor should the “standardized measure” be interpreted as representing current value to the Company. Material revisions to estimates of proved reserves may occur in the future; development and production of the reserves may not occur in the periods assumed; actual prices realized are expected to vary significantly from those used; and actual costs may vary. Our calculations of the standardized measure of discounted future net cash flows and the related changes therein include Texas margin tax and include the effect of estimated federal income tax expenses. As of December 31, 2022, the reserves are comprised of 44 % crude oil, 33 % natural gas and 23 % NGL on an energy equivalent basis. For the years ended December 31, 2022 and 2021, future cash inflows are calculated by applying the 12-month arithmetic average of the first-of-month price from January to December, of oil and gas relating to the Company’s proved reserves, to the year-end quantities of those reserves. The values for the December 31, 2022 and 2021 proved reserves were derived based on prices presented in the table below. The crude oil pricing was based on the West Texas Intermediate (“WTI”) price; the NGL pricing was 37 % of WTI for 2022 and 45 % of WTI for 2021; the natural gas pricing was based on the Henry Hub price. All prices have been adjusted for transportation, quality and basis differentials. Oil Natural Gas NGL December 31, 2022 (Average) $ 93.05 $ 5.70 $ 34.97 December 31, 2021 (Average) $ 64.33 $ 3.35 $ 30.14 The following summary sets forth the future net cash flows related to proved oil and gas reserves based on the standardized measure prescribed in ASC Topic 932 (in thousands): Year Ended December 31, 2022 2021 2020 Future oil and natural gas sales $ 4,812,767 $ 1,068,652 $ 238,977 Future production costs ( 404,982 ) ( 90,137 ) ( 19,379 ) Future income tax expense ( 438,049 ) ( 5,302 ) ( 1,236 ) Future net cash flows 3,969,736 973,213 218,362 10 % annual discount ( 1,792,681 ) ( 437,910 ) ( 94,803 ) Standardized measure of discounted future net cash flows $ 2,177,055 $ 535,303 $ 123,559 The principal sources of change in the standardized measure of discounted future net cash flows are (in thousands): Year Ended December 31, 2022 2021 2020 Balance at the beginning of the period $ 535,303 $ 123,559 $ 183,225 Net change in prices and production costs 250,889 119,993 ( 59,911 ) Sales, net of production costs ( 329,858 ) ( 111,691 ) ( 41,043 ) Extensions and discoveries 234,973 29,853 25,196 Acquisitions of reserves 1,645,909 326,192 9,137 Divestiture of reserves — — ( 3,563 ) Revisions of previous quantity estimates 40,803 43,843 ( 18,140 ) Net change in income taxes ( 244,815 ) ( 2,205 ) 343 Accretion of discount 53,820 12,426 18,427 Changes in timing and other ( 9,969 ) ( 6,667 ) 9,888 Balance at the end of the period $ 2,177,055 $ 535,303 $ 123,559

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Summary Of Significant Accounting Policy [Line Items]
Falcon Reverse Merger Transaction	Falcon Reverse Merger Transaction On June 7, 2022 (the “Closing Date”), the Company, consummated the previously announced merger transactions contemplated by the Agreement and Plan of Merger, dated as of January 11, 2022 (the “Falcon Reverse Merger Agreement”), by and among the Company, Sitio Royalties Operating Partnership, LP, a Delaware limited partnership (formerly known as Falcon Minerals Operating Partnership, LP) (“Sitio OpCo”), Ferrari Merger Sub A LLC, a Delaware limited liability company (“Falcon Merger Sub”), and DPM HoldCo, LLC, a Delaware limited liability company (“Desert Peak”), pursuant to which Falcon Merger Sub merged with and into Desert Peak (the “Falcon Merger”), with Desert Peak continuing as the surviving entity in the Falcon Merger as a wholly owned subsidiary of Sitio OpCo. Prior to the effective time of the Falcon Merger (the “Falcon Merger Effective Time”), on June 3, 2022, the Company filed with the Secretary of State of the State of Delaware the Third Amended and Restated Certificate of Incorporation to effect the previously announced four-to- one reverse stock split (the “Reverse Stock Split”) for all of the Company’s issued and outstanding shares of common stock and outstanding equity awards. As a result of the Reverse Stock Split, every four shares of the Company’s issued and outstanding Class C Common Stock, par value $0.0001 per share (“Class C Common Stock”), were automatically converted into one share of Class C Common Stock, without any change in the par value per share , and every four shares of the Company’s Class A Common Stock, par value $0.0001 per share (“Class A Common Stock” and, together with the Class C Common Stock, the “Common Stock”) were automatically converted into one share of Class A Common Stock, without any change in the par value per share . No fractional shares were outstanding following the Reverse Stock Split. In lieu of any fractional share, any holder of Class C Common Stock who would have otherwise received less than one share of Class C Common Stock received cash equal to the fair value of such holder’s fractional share as determined by the Board. In lieu of any fractional share of Class A Common Stock, the transfer agent for the Class A Common Stock, as exchange agent, aggregated and sold all fractional interests and paid to stockholders that would have been entitled to such fractional shares their pro rata share of the net proceeds derived from the sale of such fractional interests. Additionally, as a result of the Reverse Stock Split, the Company’s outstanding warrants (the “Warrants”) were adjusted such that four whole Warrants became exercisable for one share of Class A Common Stock at an exercise price of $ 44.84 per share of Class A Common Stock. Pursuant to the terms of the Falcon Reverse Merger Agreement, at the Falcon Merger Effective Time and following effectiveness of the Reverse Stock Split, the limited liability company interests in Desert Peak issued and outstanding immediately prior to the Falcon Merger Effective Time were converted into the right to receive an aggregate of (a) 61,905,339 shares of Class C Common Stock and (b) 61,905,339 common units representing limited partner interests in Sitio OpCo (the “Sitio OpCo Partnership Units”) (the total amount under clauses (a) and (b), the “Falcon Merger Consideration”). The Company’s stockholders immediately prior to the closing of the Falcon Merger continued to hold their shares of Class A Common Stock immediately after the closing of the Falcon Merger, subject to the Reverse Stock Split. Following the Falcon Merger and the Reverse Stock Split, there were 12,088,546 shares of Class A Common Stock outstanding, 71,752,285 shares of Class C Common Stock outstanding and 5,312,499 shares of Class A Common Stock issuable upon exercise of outstanding Warrants. There was no change to the number of authorized shares of Common Stock. Shortly prior to the Closing Date, the Company changed its name from “Falcon Minerals Corporation” to “Sitio Royalties Corp.”
Business Combinations	Business Combinations The Company accounts for all business combinations, including the Falcon Merger and Brigham Merger, using the acquisition method, which involves the use of significant judgment. Under the acquisition method, a business combination is accounted for based on the fair value of the consideration given. The assets acquired and liabilities assumed are measured at fair value and the purchase price is allocated to the assets and liabilities based on these fair values. The excess of the cost of an acquisition, if any, over the fair value of the assets acquired and liabilities assumed is recognized as goodwill. The excess of the fair value of assets acquired and liabilities assumed over consideration given for an acquisition, if any, is recognized immediately in earnings as a gain. Determining the fair values of the assets and liabilities acquired involves the use of judgment as fair values are not always readily determinable. Different techniques may be used to determine fair values, including market prices (where available), comparisons to transactions for similar assets and liabilities and the discounted net present value of estimated future cash flows, among others.
Basis of Presentation	Basis of Presentation These consolidated financial statements have been prepared in accordance with GAAP. In the opinion of management, these consolidated financial statements include all adjustments (consisting of normal and recurring accruals) considered necessary to present fairly the Company’s financial position as of December 31, 2022 and 2021, and its results of operations and cash flows for the years ended December 31, 2022, 2021 and 2020. The company operates in one segment: oil and gas mineral and royalty interests. The Company has no items of other comprehensive income or loss; therefore, its net income or loss is equal to its comprehensive income or loss. Certain prior period amounts have been reclassified to conform to the current period presentation. Prior to the closing of the Falcon Merger, the Company’s financial statements that were filed with the SEC were derived from the accounting records of Falcon Minerals Corporation. The Falcon Merger was accounted for as a reverse merger and a business combination for accounting purposes using the acquisition method of accounting with Desert Peak as the accounting acquirer. As such, the historical consolidated financial statements included in this report are based on the financial statements of Desert Peak’s predecessor, Kimmeridge Mineral Fund, LP (“KMF” or the “Predecessor”), prior to our corporate reorganization. Prior to the Falcon Merger, Desert Peak was consolidated into the results of KMF. KMF’s surface rights, which generate revenue from the sale of water, payments for rights-of-way and other rights associated with the ownership of the surface acreage, are included in our historical financial statements. The assets contributed by KMF in the Falcon Merger did not include KMF’s surface rights. See “Note 7 – Acquisitions” for additional information. The consolidated financial statements included in this report reflect the historical operating results of KMF prior to June 7, 2022 and the consolidated results of the Company following June 7, 2022. The balance sheet reflects the assets and liabilities of the Company, which include the assets and liabilities of KMF Land, LLC (a subsidiary of the Predecessor) (“KMF Land”) at their historical costs, the assets and liabilities of Falcon Minerals Corporation measured at fair value as of June 7, 2022, and the assets and liabilities of Brigham Minerals Inc. measured at fair value as of December 29, 2022. Earnings per share is calculated based on the consolidated results of the Company for the period June 7, 2022 through December 31, 2022. Subsequent to the Falcon Merger, the Company has acquired additional surface rights in connection with multiple acquisitions. The results of each subsequent acquisition are included in the combined company results for the period following the consummation of such acquisition. Except as otherwise indicated or required by the context, all references in these notes to financial statements to the “Company,” “Sitio,” “we,” “us,” “our” or similar terms refer to (i) for periods prior to the closing of the Falcon Merger, Desert Peak and its subsidiaries and (ii) for periods subsequent to the closing of the Falcon Merger, Sitio Royalties Corp. and its subsidiaries, including Desert Peak. All references these notes to financial statements to “Falcon” refer to Sitio Royalties Corp. and its subsidiaries for periods prior to the Falcon Merger. JOBS Act The Company was an “emerging growth company” (“EGC”) as defined by the JOBS Act. The JOBS Act provides that an EGC can take advantage of the extended transition period provided in Section 13(a) of the Exchange Act for complying with new or revised accounting standards. Thus, an EGC can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to avail itself of this exemption and, as a result, its financial statements for prior periods may not be comparable to the financial statements of issuers that were required to comply with the effective dates for new or revised accounting standards that are applicable to public companies. The Company lost its status as an EGC on December 31, 2022, which is the fiscal year end following the fifth anniversary of the date of Falcon’s initial public offering.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries and any entities in which the Company owns a controlling interest. All intercompany accounts and transactions have been eliminated in consolidation. Noncontrolling interest in the Company’s consolidated financial statements for periods prior to the Falcon Merger represented the ownership interests in a subsidiary of the Predecessor which were owned by outside parties. As a result of the Brigham Merger, the holders of Class C Common Stock no longer hold a majority of the voting share outstanding. Consequently, after December 29, 2022, interests held in the form of Class C Common Stock and Sitio OpCo Partnership Units are presented as noncontrolling interest in the consolidated balance sheets. See “Note 10 – Temporary Equity and Noncontrolling Interest ” for additional information.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The Company’s estimates and classification of oil and natural gas reserves are, by necessity, projections based on geologic and engineering data, and there are uncertainties inherent in the interpretation of such data as well as the projection of future rates of production. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that are difficult to measure. The accuracy of any reserve estimate is a function of the quality of available data, engineering, and geological interpretation and judgment. Estimates of economically recoverable oil and natural gas reserves and future net cash flows necessarily depend upon several variable factors and assumptions. These factors and assumptions include historical production from the area compared with production from other producing areas, the assumed effect of regulations by governmental agencies, and assumptions governing future oil and natural gas prices. For these reasons, estimates of the economically recoverable quantities of expected oil and natural gas and estimates of the future net cash flows may vary substantially. Any significant variance in the assumptions could materially affect the estimated quantity of reserves, which could affect the carrying value of the Company’s oil and natural gas properties and/or the rate of depletion related to oil and natural gas properties.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases , which requires all leasing arrangements to be presented on the balance sheet as liabilities along with a corresponding asset. ASU 2016-02 does not apply to leases of mineral rights to explore for or use crude oil and natural gas. The ASU will replace most existing lease guidance in GAAP when it becomes effective. In January 2018, the FASB issued ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 , to provide an optional practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases under Topic 840. In July 2018, the FASB issued ASU 2018-11, Leases: Targeted Improvement s, which provides for another transition method, in addition to the existing transition method, by allowing entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption (i.e. comparative periods presented in the financial statements will continue to be in accordance with current GAAP (Topic 840, Leases )). The Company adopted the new standard during the fiscal year ended December 31, 2022. The primary effect of adoption was to record right-of-use assets and lease liabilities for office leases previously accounted for as operating leases under Topic 840. Refer to “Note 15 - Leases” for more information. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses , which amends current impairment guidance by adding an impairment model (known as the current expected credit loss model (“CECL”)) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of lifetime expected credit losses, which the FASB believes will result in more timely recognition of such losses. The Company adopted the new standard during the fiscal year ended December 31, 2022 with a beginning period of adoption of January 1, 2022. The impact of the adoption of this standard on the Company’s consolidated financial statements was immaterial. ASU 2016-13 was applied using a modified retrospective approach, with a cumulative-effect adjustment to the opening balance of retained earnings as of the adoption date. However, the cumulative impact of adoption in the opening balance of retained earnings as of January 1, 2022 was immaterial.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly-liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains cash and cash equivalents in bank deposit accounts which, at times, may exceed the federally insured limits. The Company has not experienced any significant losses from such investments.
Accrued Revenue and Accounts Receivable	Accrued Revenue and Accounts Receivable Accrued revenue and accounts receivable represent amounts due to the Company and are uncollateralized, consisting primarily of royalty revenue receivable. Royalty revenue receivable consists of royalties due from operators for oil, natural gas and NGL volumes sold to purchasers. Those purchasers remit payment for production to the operator of the properties and the operator, in turn, remits payment to the Company. Receivables from third parties for which we did not receive actual production information, either due to timing delays or due to the unavailability of data at the time when revenues are recognized, are estimated. The Company’s accrued revenue and accounts receivable consisted of the following as of the dates indicated (in thousands): December 31, December 31, Accrued revenue $ 80,406 $ 36,177 Accounts receivable 61,604 25 Total accrued revenue and accounts receivable, net $ 142,010 $ 36,202 Accounts receivable at December 31, 2022 are primarily composed of accrued revenue acquired in conjunction with the Brigham Merger. Refer to “Note 3 - Brigham Merger” for more information. The Company routinely assesses the recoverability of all material accounts receivable to determine their collectability. The Company accrues a reserve to the allowance for doubtful accounts when it is probable that a receivable will not be collected and the amount of the reserve may be reasonably estimated. As of December 31, 2022 and 2021, the Company had no reserves for uncollectible amounts or deemed any amounts to be uncollectible.
Oil and Gas Properties	Oil and Gas Properties The Company uses the successful efforts method of accounting for oil and natural gas producing properties, as further defined under ASC 932, Extractive Activities - Oil and Natural Gas . Under this method, costs to acquire mineral interests in oil and natural gas properties are capitalized. The costs of non-producing mineral interests and associated acquisition costs are capitalized as unproved properties pending the results of leasing efforts and drilling activities of E&P operators on our interests. As unproved properties are determined to have proved reserves, the related costs are transferred to proved oil and gas properties. Capitalized costs for proved oil and natural gas mineral interests are depleted on a unit-of-production basis over total proved reserves. For depletion of proved oil and gas properties, interests are grouped in a reasonable aggregation of properties with common geological structural features or stratigraphic conditions. Impairment of Oil and Gas Properties The Company evaluates its producing properties for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When assessing proved properties for impairment, the Company compares the expected undiscounted future net cash flows of the proved properties to the carrying amount of the proved properties to determine recoverability. If the carrying amount of proved properties exceeds the expected undiscounted future net cash flows, the carrying amount is written down to the properties’ estimated fair value, which is measured as the present value of the expected future net cash flows of such properties. The factors used to determine fair value include estimates of proved reserves, future commodity prices, timing of future production, and a risk-adjusted discount rate. There was no impairment of proved properties for the years ended December 31, 2022, 2021, and 2020. The proved property impairment test is primarily impacted by future commodity prices, changes in estimated reserve quantities, estimates of future production, overall proved property balances, and depletion expense. If pricing conditions decline or are depressed, or if there is a negative impact on one or more of the other components of the calculation, we may incur proved property impairments in future periods. Unproved oil and gas properties are assessed periodically for impairment of value, and a loss is recognized at the time of impairment by charging capitalized costs to expense. Impairment is assessed when facts and circumstances indicate that the carrying value may not be recoverable, at which point an impairment loss is recognized to the extent the carrying value exceeds the estimated recoverable value. Factors used in the assessment include but are not limited to commodity price outlooks and current and future operator activity in the respective Basins. The Company recognized no impairment of unproved properties for the years ended December 31, 2022 and 2021. The Company recognized approximately $ 812,000 of unproved property impairment for the year ended December 31, 2020. This impairment was related to capitalized acquisition costs for a prospective mineral interest acquisition that the Company did not complete.
Other Property and Equipment	Other Property and Equipment Other property and equipment, which includes leasehold improvements, is recorded at cost. Depreciation is calculated using the straight-line method over the shorter of the lease term or the useful lives of the assets. The Company recorded approximately $ 613,000 , $ 588,000 and $ 609,000 in depreciation for other property and equipment for the years ended December 31, 2022, 2021, and 2020, respectively. We evaluate our other property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset that has been placed in service may not be recoverable. No impairment charges were recorded for the years ended December 31, 2022, 2021, and 2020.
Asset Acquisitions	Asset Acquisitions The Company generally accounts for acquisitions of mineral and royalty interests as asset acquisitions, through which it allocates the purchase price between proved and unproved properties, with no recognition of goodwill. The Company may use different techniques to determine the allocation, including the discounted net present value of estimated future cash flows and market prices (where available).
Derivative Financial Instruments	Derivative Financial Instruments In order to manage its exposure to oil, natural gas, and NGL price volatility as well as interest rate volatility, the Company may periodically enter into derivative transactions, which may include commodity swap agreements, basis swap agreements, two- and three-way collars, and other similar agreements which help manage the price risk associated with the Company’s production. From time to time, the Company may periodically enter into various interest rate derivative contracts to manage exposures to changes in interest rates from variable rate obligations. These derivatives are not entered into for trading or speculative purposes. To the extent legal right of offset exists with a counterparty, the Company reports derivative assets and liabilities on a net basis. The Company has exposure to credit risk to the extent that the counterparty is unable to satisfy its settlement obligations. All derivative counterparties are current lenders under Sitio's Revolving Credit Facility (defined below). Accordingly, the Company is not required to provide any credit support to its derivative counterparties other than cross collateralization with the properties securing the Sitio Revolving Credit Facility. The Company records derivative instruments on its consolidated balance sheets as either assets or liabilities measured at fair value and records changes in the fair value of derivatives in current earnings as they occur. Changes in the fair value of commodity and interest rate derivatives, including gains or losses on settled derivatives, are classified as other income or loss on the Company’s consolidated statements of operations. The Company’s derivatives have not been designated as hedges for accounting purposes.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses The Company’s accounts payable and accrued expenses consisted of the following as of the dates indicated (in thousands): December 31, December 31, Ad valorem taxes payable $ 9,209 $ 1,750 Brigham Merger accrued expenses 2,878 — Other taxes payable 2,713 529 Payable to seller for pre-effective monies 2,243 104 General and administrative 1,931 904 Interest expense 1,377 274 Accrued prepaids 1,330 — Deferred financing costs and debt issuance costs 206 13 Capital expenditures 12 391 Other — 175 Total accounts payable and accrued expenses $ 21,899 $ 4,140
Warrant Liability	Warrant Liability Falcon issued the Public Warrants and Private Placement Warrants (both defined below) in connection with its initial public offering in 2017. The Warrants remain outstanding following the Falcon Merger. Warrants are accounted for in accordance with applicable accounting guidance provided in ASC 815-40 – Derivatives and Hedging – Contracts in Entity’s Own Equity (“ASC 815”), as either liabilities or as equity instruments depending on the specific terms of the warrant agreement. The Warrants were classified as liabilities and recorded at fair value at the time of the Falcon Merger and are subject to remeasurement at the end of each reporting period. Any change in fair value is recorded in our statements of operations.
Leases	Leases The Company evaluates if an arrangement is a lease at inception of the arrangement. To the extent that we determine an arrangement represents a lease, we classify that lease as an operating lease or a finance lease, depending on lease classification guidance provided in ASC 842 – Leases. The Company leases office space under four operating leases. In December 2021, the Predecessor entered into a sublease of one of its office spaces with an unaffiliated third-party. We currently do not have any finance leases. We capitalize our operating leases through recognition of an operating lease right-of-use asset and a corresponding operating lease liability on our consolidated balance sheets. Right-of-use assets represent our right to use an underlying asset for the lease term and operating lease liabilities represent our obligation to make fixed payments under the terms of the lease agreement. Short-term leases that have an initial term of one year or less are not capitalized but are disclosed. Short-term lease costs exclude expenses related to leases with a lease term of one month or less. Operating lease right-of-use assets and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. In addition to the present value of lease payments, the operating lease right-of-use asset also includes any lease payments made to the lessor prior to lease commencement less any lease incentives and initial direct costs incurred. Lease expense for operating leases is recognized on a straight-line basis over the lease term. See “Note 15 – Leases ” for additional information.
Deferred Rent	Deferred Rent Under ASC 840 – Leases (“ASC 840”), which was in effect prior to 2022, the Company recognized rental expense for operating leases on a straight-line basis over the term of the lease agreements. The deferred rent liability on the Company’s consolidated balance sheet as of December 31, 2021 is attributable to the difference between rental expense (recognized on a straight-line basis) and the variable lease payments over the terms of the agreements.
Temporary Equity	Temporary Equity Subsequent to the Falcon Merger, the Company accounted for the interests attributable to Class C Common Stock and Sitio OpCo Partnership Units as temporary equity as a result of certain redemption rights held as discussed in “Note 10 – Temporary Equity and Noncontrolling Interest.” As such, the Company adjusted temporary equity to its maximum redemption amount at the balance sheet date, if higher than the carrying amount. Changes in the redemption value were recognized immediately as they occur, as if the end of the reporting period was also the redemption date for the instrument, with an offsetting entry to retained earnings or, if a retained deficit, to additional paid-in capital. Temporary equity is reclassified to permanent equity upon conversion of Class C Common Stock (and an equivalent number of Sitio OpCo Partnership Units) or when holders of the Class C Common Stock no longer effectively control the Company’s determination of whether to make a cash payment upon the Sitio OpCo Partnership Unit holder’s exercise of its Redemption Right. As a result of the Brigham Merger on December 29, 2022, the holders of Class C Common Stock no longer hold a majority of the voting shares outstanding. Consequently, after December 29, 2022, interest held in the form of Class C Common Stock and Sitio OpCo Partnership Units are presented as noncontrolling interest in the consolidated balance sheets. See “Note 10 – Temporary Equity and Noncontrolling Interest ” for additional information.
Revenue Recognition	Revenue Recognition Mineral and royalty interests represent the right to receive revenues from the sale of oil, natural gas and NGL, less production taxes and post-production expenses. The prices of oil, natural gas, and NGL from the properties in which we own a mineral or royalty interest are primarily determined by supply and demand in the marketplace and can fluctuate considerably. As an owner of mineral and royalty interests, we have no working interest or operational control over the volumes and methods of sale of the oil, natural gas, and NGL produced and sold from our properties. We do not explore, develop, or operate the properties and, accordingly, do not incur any of the associated costs. Oil, natural gas, and NGL revenues from our mineral and royalty interests are recognized when control transfers at the wellhead. The Company also earns revenue related to lease bonuses. The Company earns lease bonus revenue by leasing its mineral interests to E&P companies. The Company recognizes lease bonus revenue when the lease agreement has been executed and payment is determined to be collectible. See “Note 5 – Revenue from Contracts with Customers” for additional disclosures regarding revenue recognition. Concentration of Revenue Collectability of the Company’s royalty revenue is dependent upon the financial condition of the Company’s operators, the entities they sell their products to, as well as general economic conditions in the industry. For the year ended December 31, 2022, revenue from Callon Petroleum Company represented approximately 12 % of total revenue. For the year ended December 31, 2021, revenue from Coterra Energy Inc., Diamondback Energy, Inc, Callon Petroleum Company, and Oxy USA Inc represented approximately 12 %, 11 %, 11 %, and 10 % of total revenue, respectively. For the year ended December 31, 2020, revenue from Diamondback Energy, Inc, Cimarex Energy, and Oxy USA Inc represented approximately 15 %, 12 % and 10 % of total revenue, respectively. Although the Company is exposed to a concentration of credit risk, the Company does not believe the loss of any single operator or entity would materially impact the Company’s operating results as crude oil, natural gas and NGL are fungible products with well-established markets and numerous purchasers. If multiple entities were to cease making purchases at or around the same time, we believe there would be challenges initially, but there would be ample markets to handle the disruption.
Share-Based Compensation	Share-Based Compensation The Company recognizes share-based compensation expense associated with restricted stock units, deferred share units, and restricted stock awards which are time-based awards and performance stock units, which are market-based awards. As the performance metric for the performance stock unit awards is absolute total shareholder return, the performance stock units awards are accounted for as market-based awards. The Company accounts for forfeitures of share-based compensation awards as they occur. Share-based compensation expense for all awards is recognized based on the estimated grant date fair value of the award. See “Note 11 – Share-Based Compensation ” for additional information.
Merger-Related Transaction Costs	Merger-Related Transaction Costs General and administrative expense of $ 42.2 million for the year ended December 31, 2022 includes $ 16.7 million of costs incurred by the Company in connection with the Falcon Merger and the Brigham Merger (defined below). No such expense was recognized for the years ended December 31, 2021 and 2020.
Income Taxes	Income Taxes The Company, under ASC 740 – Income Taxes (“ASC 740”), uses the asset and liability method of accounting for income taxes, under which deferred tax assets and liabilities are recognized for the future tax consequences of (a) temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities and (b) operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are based on enacted tax rates applicable to the future periods when those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period the rate change is enacted. A valuation allowance will be provided for deferred tax assets if it is more likely than not the deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits (if any) as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2022 and 2021. Texas imposes a franchise tax, commonly referred to as the Texas margin tax, which is considered an income tax, at a rate of 0.75 % on gross revenues less certain deductions, as specifically set forth in the Texas margin tax statute. A significant portion of our mineral and royalty interests are located in Texas. As such, the Company recognized approximately $ 1.7 million, $ 486,000 , and $ 22,000 , respectively, for the years ended December 31, 2022, 2021, and 2020, of state income tax expense, primarily attributable to the Texas margin tax. The Company’s ASC 740 balances and income tax expense reporting is significantly affected by the portion of the Company’s consolidated net income attributable to the holders of Sitio OpCo Partnership Units, which is not taxable income to the Company. As the Company’s ownership interest in Sitio OpCo is 51.9 %, only tax attributes allocated to the Company are recorded at this level, except for Texas Gross Margins tax which is imposed on Sitio OpCo and reported herein.
Brigham Merger [Member]
Summary Of Significant Accounting Policy [Line Items]
Business Combinations	Brigham Merger On December 29, 2022, the Company, consummated the previously announced merger transactions contemplated by the Agreement and Plan of Merger, dated as of September 6, 2022 (the “Brigham Merger Agreement”) by and among STR Sub Inc. (formerly Sitio Royalties Corp.) (“Former Sitio”), MNRL Sub Inc. (formerly Brigham Minerals Inc.) (“Brigham”), Brigham Minerals Holdings, LLC, Sitio Royalties Operating Partnership, LP, Sitio Royalties Corp. (formerly Snapper Merger Sub I, Inc.) (“New Sitio”), Snapper Merger Sub IV, Inc., Snapper Merger Sub V, Inc., and Snapper Merger Sub II, LLC. The Brigham Merger Agreement provides for the acquisition of Brigham by Former Sitio in an all stock transaction. Refer to “Note 3 - Brigham Merger” for further information. The Company completed the acquisition of approximately 86,500 NRAs in the Delaware and Midland Basin in West Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin in Oklahoma, the DJ Basin in Colorado and Wyoming and the Williston Basin in North Dakota from Brigham.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Accrued Revenue and Accounts Receivable	The Company’s accrued revenue and accounts receivable consisted of the following as of the dates indicated (in thousands): December 31, December 31, Accrued revenue $ 80,406 $ 36,177 Accounts receivable 61,604 25 Total accrued revenue and accounts receivable, net $ 142,010 $ 36,202
Schedule of Accounts Payable and Accrued Expenses	The Company’s accounts payable and accrued expenses consisted of the following as of the dates indicated (in thousands): December 31, December 31, Ad valorem taxes payable $ 9,209 $ 1,750 Brigham Merger accrued expenses 2,878 — Other taxes payable 2,713 529 Payable to seller for pre-effective monies 2,243 104 General and administrative 1,931 904 Interest expense 1,377 274 Accrued prepaids 1,330 — Deferred financing costs and debt issuance costs 206 13 Capital expenditures 12 391 Other — 175 Total accounts payable and accrued expenses $ 21,899 $ 4,140

Brigham Merger (Tables)

Brigham Merger (Tables)	12 Months Ended
	Dec. 31, 2022
Business Acquisition [Line Items]
Schedule of Consideration for Falcon Merger	The following table summarized the consideration for the Brigham Merger: Brigham Common Stock — issued and outstanding as of December 29, 2022: 71,290,265 Class A Common Stock price on December 29, 2022 $ 30.15 Total consideration and fair value $ 2,149,401,490
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed	The following table presents the preliminary allocation of the purchase price to the assets acquired and liabilities assumed on December 29, 2022 (in thousands): Brigham fair values: Cash $ 11,054 Accrued revenue and accounts receivable 61,745 Prepaid expenses 11,339 Unproved oil and gas properties 1,783,162 Proved oil and gas properties 873,050 Property and equipment 200 Right-of-use asset 3,209 Other assets 1,064 Current liabilities ( 83,425 ) Long-term debt ( 193,000 ) Long-term operating lease liability ( 2,387 ) Deferred tax liability ( 316,571 ) Other long-term liability ( 39 ) Total consideration and fair value $ 2,149,401
Schedule of Unaudited Pro Forma Financial Information	The unaudited pro forma financial information for the years ended December 31, 2022 and 2021, respectively, gives effect to the Falcon Merger and Brigham Merger as if they had both occurred on January 1, 2021 (in thousands, except per share amounts): For the Years 2022 2021 Total revenues $ 756,590 $ 389,621 Pro forma income (loss) available to Class A stockholders 121,110 ( 8,435 ) Net income (loss) per share: Basic $ 1.50 $ ( 0.12 ) Diluted $ 1.50 $ ( 0.12 )

Falcon Reverse Merger (Tables)

Falcon Reverse Merger (Tables)	12 Months Ended
	Dec. 31, 2022
Business Acquisition [Line Items]
Schedule of Consideration for Falcon Merger	The following table summarized the consideration for the Brigham Merger: Brigham Common Stock — issued and outstanding as of December 29, 2022: 71,290,265 Class A Common Stock price on December 29, 2022 $ 30.15 Total consideration and fair value $ 2,149,401,490
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed	The following table presents the preliminary allocation of the purchase price to the assets acquired and liabilities assumed on December 29, 2022 (in thousands): Brigham fair values: Cash $ 11,054 Accrued revenue and accounts receivable 61,745 Prepaid expenses 11,339 Unproved oil and gas properties 1,783,162 Proved oil and gas properties 873,050 Property and equipment 200 Right-of-use asset 3,209 Other assets 1,064 Current liabilities ( 83,425 ) Long-term debt ( 193,000 ) Long-term operating lease liability ( 2,387 ) Deferred tax liability ( 316,571 ) Other long-term liability ( 39 ) Total consideration and fair value $ 2,149,401
Schedule of Unaudited Pro Forma Financial Information	The unaudited pro forma financial information for the years ended December 31, 2022 and 2021, respectively, gives effect to the Falcon Merger and Brigham Merger as if they had both occurred on January 1, 2021 (in thousands, except per share amounts): For the Years 2022 2021 Total revenues $ 756,590 $ 389,621 Pro forma income (loss) available to Class A stockholders 121,110 ( 8,435 ) Net income (loss) per share: Basic $ 1.50 $ ( 0.12 ) Diluted $ 1.50 $ ( 0.12 )
Falcon Minerals [Member]
Business Acquisition [Line Items]
Schedule of Consideration for Falcon Merger	The following table summarized the consideration for the Falcon Merger: Falcon Common Stock — issued and outstanding as of June 7, 2022: 21,935,492 Class A Common Stock price on June 7, 2022 $ 29.12 Total consideration and fair value $ 638,761,527
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed	The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed (in thousands): June 7, 2022 Adjustments December 31, 2022 Falcon fair values: Cash $ 4,484 $ — $ 4,484 Accrued revenue and accounts receivable 12,054 6,696 18,750 Unproved oil and gas properties 495,803 ( 4,572 ) 491,231 Proved oil and gas properties 200,773 — 200,773 Property and equipment 278 — 278 Current liabilities ( 22,315 ) ( 1,106 ) ( 23,421 ) Long-term debt ( 43,105 ) — ( 43,105 ) Deferred tax liability ( 2,598 ) ( 1,018 ) ( 3,616 ) Warrant liability ( 6,612 ) — ( 6,612 ) Total consideration and fair value $ 638,762 $ — $ 638,762

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2022
Disaggregation Of Revenue [Abstract]
Summary of Disaggregated Revenues from Sales	During the years ended December 31, 2022, 2021 and 2020, the disaggregated revenues from sales of oil, natural gas and NGLs were as follows (in thousands): Year Ended December 31, 2022 2021 2020 Crude oil sales $ 266,179 $ 84,818 $ 34,878 Natural gas sales 52,380 17,143 4,278 NGL sales 36,871 16,587 5,038 Total royalty revenues $ 355,430 $ 118,548 $ 44,194

Oil and Gas Properties (Tables)

Oil and Gas Properties (Tables)	12 Months Ended
	Dec. 31, 2022
Oil And Gas Exploration And Production Industries Disclosures [Abstract]
Summary of Oil and Natural Gas Properties	The following is a summary of oil and natural gas properties as of December 31, 2022 and 2021 (in thousands): Oil and natural gas properties: December 31, December 31, Unproved properties $ 3,244,436 $ 817,873 Proved properties 1,926,214 447,369 Oil and natural gas properties, gross 5,170,650 1,265,242 Accumulated depletion and impairment ( 222,072 ) ( 118,175 ) Oil and natural gas properties, net $ 4,948,578 $ 1,147,067 Aggregate capitalized costs related to oil and natural gas production activities with applicable accumulated depreciation, depletion and amortization are as follows (in thousands): December 31, 2022 December 31, 2021 Oil and natural gas interests: Unproved $ 3,244,436 $ 817,873 Proved 1,926,214 447,369 Total oil and natural gas interests 5,170,650 1,265,242 Accumulated depletion and impairment ( 222,072 ) ( 118,175 ) Net oil and natural gas interests capitalized $ 4,948,578 $ 1,147,067

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Prepay Premium determined Based on Length of Time Between Issuance Date and Prepayment	Sitio OpCo may elect, at its option, to prepay the 2026 Senior Notes in whole or in part at any time, subject to (except as described below) payment of a premium determined in accordance with the table below based on the length of time between the issuance date and the prepayment date: Period Premium Months 0 - 12 Customary “make-whole” premium plus 3.00 % Months 13 - 24 3.00 % Months 25 - 36 1.00 % Months 37 - 48 0.00 %

Equity (Table)

Equity (Table)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of basic and diluted earnings per Share	The following table sets forth the calculation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data): For the Year 2022 2021 2020 Numerator: Net income attributable to Class A stockholders $ 15,701 $ — $ — Less: Earnings allocated to participating securities ( 579 ) — — Net income attributable to Class A stockholders - basic $ 15,122 $ — $ — Plus: net income attributable to temporary equity 90,377 Less: net loss attributable to noncontrolling interest ( 51 ) Net income attributable to Class A stockholders - diluted $ 105,448 $ — $ — Denominator: Weighted average shares outstanding - basic 13,723 Effect of dilutive securities — Weighted average shares outstanding - diluted 13,723 Net income per common share - basic $ 1.10 Net income per common share - diluted $ 1.10
Schedule of computation of diluted earnings per share	The Company had the following shares that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per share in future periods (in thousands): For the Year 2022 2021 2020 Warrants 5,312 Unvested share-based compensation awards 302 Total 5,614 — —

Temporary Equity and Noncontr_2

Temporary Equity and Noncontrolling Interest (Table)	12 Months Ended
	Dec. 31, 2022
Temporary Equity Disclosure [Abstract]
Summary of Recorded Adjustments to Temporary Equity	Temporary equity is recorded at the greater of the carrying value or redemption amount with a corresponding adjustment to retained earnings or if a retained deficit to additional paid-in capital. From the date of the Falcon Merger through December 28, 2022, the Company recorded adjustments to the value of temporary equity as presented in the table below (in thousands): Temporary equity adjustments Balance – June 7, 2022 (1) $ 1,395,799 Share-based compensation 1,283 Conversion of Class C Common Stock to Class A Common Stock ( 34,038 ) Net income attributable to temporary equity 90,377 Distributions to holders of temporary equity ( 115,375 ) Adjustment of temporary equity to redemption amount 706,940 Reclassification to noncontrolling interest (2) ( 2,044,986 ) Balance – December 28, 2022 $ — (1) Based on 71,752,285 shares of Class C Common Stock outstanding at June 7, 2022. (2) Based on 70,390,316 shares of Class C Common Stock outstanding and Class A Common Stock 5-day volume-weighted average price of $ 29.05 at December 28, 2022. The December 28, 2022 redemption value of temporary equity became the carrying value of noncontrolling interest.

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Restricted Stock Units [Member]
Class Of Stock [Line Items]
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs	The following table summarizes activity related to unvested RSUs for the year ended December 31, 2022. Restricted Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 447,519 29.11 Forfeited ( 1,391 ) 29.12 Vested — — Unvested at December 31, 2022 446,128 $ 29.11
Deferred Share Units [Member]
Class Of Stock [Line Items]
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs	The following table summarizes activity related to unvested DSUs for the year ended December 31, 2022. Deferred Share Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 62,586 28.80 Forfeited — — Vested ( 20,862 ) 28.17 Unvested at December 31, 2022 41,724 $ 29.12
Performance Stock Units [Member]
Class Of Stock [Line Items]
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs	The following table summarizes activity related to unvested PSUs for the year ended December 31, 2022. Performance Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 308,953 39.12 Forfeited — — Vested — — Unvested at December 31, 2022 308,953 $ 39.12
Summary of Performance Targets Associated	The performance targets associated with the PSU awards are outlined below: Annualized Percentage of Base of Range Less than 0 % 0 % Threshold 0 % 50 % Target 10 % 100 % Maximum 20 % 200 %
Schedule of weighted average assumptions to determine fair value	The following table summarizes the assumptions used to determine the fair values of the PSUs: Grant Year Average Expected Volatility Risk-Free Interest Rate Expected Dividend Yield 2022 67.23 % - 67.30 % 2.89 % - 4.18 % 0.00 %
Restricted Stock Units Converted to Brigham Merger [Member]
Class Of Stock [Line Items]
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs	The following table summarizes activity related to unvested RSUs converted in the Brigham Merger for the year ended December 31, 2022. Restricted Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 21,279 30.15 Forfeited — — Vested — — Unvested at December 31, 2022 21,279 $ 30.15
Performance Stock Units Converted to Brigham Merger [Member]
Class Of Stock [Line Items]
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs	The following table summarizes activity related to unvested PSUs converted in the Brigham Merger for the year ended December 31, 2022. Performance Stock Units Number of Grant Date Unvested at January 1, 2022 — $ — Granted 10,786 30.15 Forfeited — — Vested — — Unvested at December 31, 2022 10,786 $ 30.15
Sitio OpCo Restricted Stock Awards [Member]
Class Of Stock [Line Items]
Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs	The following table summarizes activity related to unvested Sitio OpCo RSAs for the year ended December 31, 2022. Sitio OpCo Number of Grant Date Unvested at January 1, 2022 — $ — Granted 309,527 29.12 Forfeited — — Vested — — Unvested at December 31, 2022 309,527 $ 29.12

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Warrants And Rights Note Disclosure [Abstract]
Schedule of Range of Significant Unobservable Inputs Used in Measurement of Fair Value of Warrants	The fair value of the Private Placement Warrants was estimated utilizing a Black-Scholes model using the following range of significant unobservable inputs (Level 3) as of December 31, 2022: Stock price $ 28.85 Volatility 47.0 % Risk-free rate 4.70 % Dividend yield 6.93 % Term 0.7 years
Schedule of Reconciliation of Beginning and Ending Balance for Private Placement Warrant Liability Measured at Fair Value	The following is a reconciliation of the beginning and ending balance for the Private Placement Warrant liability measured at fair value using significant unobservable inputs (Level 3) during the year ended December 31, 2022 (in thousands). There were no Warrants outstanding for the Predecessor prior to the date of the Falcon Merger. Year Ended 2022 Balance at June 7 $ 2,213 Decrease in fair value ( 844 ) Balance at December 31 $ 1,369

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative [Line Items]
Summary of Derivative Instruments	The following table presents a summary of the Company’s derivative instruments and where such values are recorded on the consolidated balance sheet as of December 31, 2022 and 2021 (in thousands): December 31, 2022 December 31, 2021 Balance sheet Fair value Balance sheet Fair value Asset derivatives not designated as hedges for accounting purposes: Commodity contracts Current assets $ 18,555 Current assets $ — Interest rate contracts Current assets 319 Current assets — Commodity contracts Long-term assets 13,379 Long-term assets — Total asset derivatives $ 32,253 $ — Liability derivatives not designated as hedges for accounting purposes: Commodity contracts Current liabilities $ — Current liabilities $ — Commodity contracts Long-term liabilities — Long-term liabilities — Total liability derivatives $ — $ — Net derivatives $ 32,253 $ —
Summary of Gross Fair Values of Recognized Derivative Assets and Liabilities, Amounts Offset Under Master Netting Arrangements With Counterparties and Resulting Net Amounts	The following table presents the gross fair values of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties, and the resulting net amounts presented on the consolidated balances sheet (in thousands): December 31, 2022 December 31, 2021 Gross Fair Value Gross Amounts Offset Net Fair Value Gross Fair Value Gross Amounts Offset Net Fair Value Commodity derivative assets $ 36,813 $ ( 4,879 ) $ 31,934 $ — $ — $ — Interest rate derivative assets 319 — 319 — — — Commodity derivative liabilities ( 4,879 ) 4,879 — — — —
Summary of Derivative Gains and Losses	The following table is a summary of derivative gains and losses, and where such values are recorded in the consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020 (in thousands): Year Ended December 31, Statement of 2022 2021 2020 Commodity derivative gains Other income $ 39,037 $ — $ 2,573 Interest rate derivative gains Other income $ 110 $ — $ —
Oil and Gas Swap Contracts [Member]
Derivative [Line Items]
Schedule of Oil and Gas Contracts	The Company’s oil and gas swap contracts as of December 31, 2022 are summarized below: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Price per Bbl January 2023 - December 2023 3,050 $ 93.71 January 2024 - December 2024 3,300 $ 82.66 January 2025 - June 2025 1,100 $ 74.65 Gas (NYMEX Henry Hub) Remaining Term MMBtu per Day Weighted Average Price per MMBtu January 2023 - December 2023 500 $ 3.83 January 2024 - December 2024 500 $ 3.41
Oil and Gas Two-way Commodity Collar Contracts [Member]
Derivative [Line Items]
Schedule of Oil and Gas Contracts	The Company’s oil and gas two-way commodity collar contracts as of December 31, 2022 are summarized below: Oil (NYMEX WTI) Remaining Term Bbl per Day Weighted Average Floor Price per Bbl Weighted Average Ceiling Price per Bbl January 2025 – June 2025 2,000 $ 60.00 $ 93.20 Gas (NYMEX Henry Hub) Remaining Term MMBtu per Day Weighted Average Floor Price per MMBtu Weighted Average Ceiling Price per MMBtu January 2023 - December 2023 8,500 $ 4.82 $ 7.93 January 2024 - December 2024 11,400 $ 4.00 $ 7.24 January 2025 – June 2025 11,600 $ 3.31 $ 10.34

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Amounts and Classifications of Estimated Right-of-use Assets, Net and Lease Liabilities	The following tables present the amounts and classifications of our estimated right-of-use assets, net and lease liabilities as of December 31, 2022 (in thousands): Balance sheet December 31, 2022 Operating leases: Operating lease right-of-use asset Long-term assets $ 5,679 Total assets $ 5,679 Operating leases: Current operating lease liability Current liabilities $ 1,563 Non-current operating lease liability Long-term liabilities 5,303 Total liability $ 6,866
Schedule of Weighted-average Remaining Lease Terms and Discount Rates of Leases	The following table presents the weighted-average remaining lease terms and discount rates of our leases as of the indicated date: December 31, 2022 Weighted average remaining lease term in years 5.4 Weighted average discount rate 7.0 %
Schedule of Future Minimum Payments for Operating Lease Liabilities	The following table is a schedule of future minimum payments for operating lease liabilities as of December 31, 2022 (in thousands): Year Total 2023 $ 1,563 2024 1,603 2025 1,517 2026 1,530 2027 1,109 Thereafter 875 Total lease payments 8,197 Less imputed interest ( 1,331 ) Total lease liabilities $ 6,866

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Provision	The components of the income tax provision were as follows for the periods indicated: Years Ended December 31, 2022 2021 2021 Current $ 4,050 $ 486 $ 22 Deferred 1,631 — — Income tax expense (benefit) $ 5,681 $ 486 $ 22
Summary of Effective Tax Rate on Pre-Tax Income Differs from Federal Statutory Rate	The effective tax rate on pre-tax income differs from the Federal statutory rate of 21 % for the years ended December 31, 2022, 2021, and 2020 due to the following: Years Ended December 31, 2022 2021 2020 Income (loss) before income taxes $ 189,812 $ 47,981 $ ( 14,192 ) Less: (income) loss before taxes attributable to Predecessor ( 78,745 ) ( 47,981 ) 14,192 Less: income before taxes attributable to temporary equity ( 91,224 ) — — Less: loss before taxes attributable to noncontrolling interest 19 — — Income before tax attributable to stockholders $ 19,862 $ — $ — Income tax expense at Federal statutory rate $ 4,171 — — State taxes, net of federal benefit 1,707 486 22 Non-deductible transaction costs 452 — — Warranty liability adjustment ( 769 ) — — Other, net 120 — — Provision for income taxes $ 5,681 $ 486 $ 22
Summary of Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows: 2022 2021 2020 Deferred tax assets: Investment in subsidiary — — — Total deferred tax assets: $ — $ — $ — Deferred tax liabilities: Investment in subsidiary 313,607 — — Total deferred tax liabilities $ 313,607 $ — $ — Net deferred tax assets (liabilities) $ ( 313,607 ) $ — $ —

Supplemental Oil and Gas Info_2

Supplemental Oil and Gas Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Extractive Industries [Abstract]
Summary of Aggregate Capitalized Costs Related to Oil and Natural Gas Production Activities	The following is a summary of oil and natural gas properties as of December 31, 2022 and 2021 (in thousands): Oil and natural gas properties: December 31, December 31, Unproved properties $ 3,244,436 $ 817,873 Proved properties 1,926,214 447,369 Oil and natural gas properties, gross 5,170,650 1,265,242 Accumulated depletion and impairment ( 222,072 ) ( 118,175 ) Oil and natural gas properties, net $ 4,948,578 $ 1,147,067 Aggregate capitalized costs related to oil and natural gas production activities with applicable accumulated depreciation, depletion and amortization are as follows (in thousands): December 31, 2022 December 31, 2021 Oil and natural gas interests: Unproved $ 3,244,436 $ 817,873 Proved 1,926,214 447,369 Total oil and natural gas interests 5,170,650 1,265,242 Accumulated depletion and impairment ( 222,072 ) ( 118,175 ) Net oil and natural gas interests capitalized $ 4,948,578 $ 1,147,067
Schedule of Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Activities	Costs incurred in oil and natural gas property acquisition, exploration and development activities are as follows (in thousands): December 31, December 31, Acquisition costs Unproved properties $ 283,341 $ 20,192 Proved properties 274,228 18,278 Total $ 557,569 $ 38,470
Summary of Revenues and Expenses Related to Production and Sale of Oil and Natural Gas	The following schedule sets forth the revenues and expenses related to the production and sale of oil and natural gas (in thousands). It does not include any interest costs or general and administrative costs and, therefore, is not necessarily indicative of the net operating results of the Company’s oil, natural gas and NGL operations. Years Ended December 31, 2022 2021 2020 Oil, natural gas and natural gas liquids revenues $ 355,430 $ 118,548 $ 44,194 Severance and ad valorem taxes ( 25,572 ) ( 6,934 ) ( 3,167 ) Depletion ( 103,898 ) ( 40,318 ) ( 31,440 ) Impairment of oil and natural gas properties — — ( 812 ) Income tax expense ( 5,681 ) ( 486 ) ( 22 ) Results of operations from oil, natural gas and natural gas liquids $ 220,279 $ 70,810 $ 8,753
Summary of Net Ownership Interest in Estimated Quantities of Proved Developed and Undeveloped Oil and Natural Gas Quantities and Changes	The following table sets forth information regarding the Company’s net ownership interest in estimated quantities of proved developed and undeveloped oil and natural gas quantities and the changes therein for each of the periods presented: Oil Natural Gas Natural Gas Liquids Total Balance as of December 31, 2019 5,839 24,493 2,774 12,695 Revisions ( 1,098 ) ( 867 ) 65 ( 1,178 ) Extensions 995 3,486 423 1,999 Acquisition of reserves 445 633 77 628 Divestiture of reserves ( 173 ) ( 209 ) ( 26 ) ( 234 ) Production ( 933 ) ( 4,134 ) ( 488 ) ( 2,110 ) Balance as of December 31, 2020 5,075 23,402 2,825 11,800 Revisions 180 6,531 405 1,674 Extensions 610 1,991 216 1,158 Acquisition of reserves 7,240 19,165 2,076 12,511 Production ( 1,261 ) ( 4,746 ) ( 499 ) ( 2,551 ) Balance as of December 31, 2021 11,844 46,343 5,023 24,592 Revisions ( 231 ) 2,926 1,093 1,349 Extensions 3,280 8,986 1,160 5,938 Acquisition of reserves 23,025 110,718 12,183 53,660 Production ( 2,861 ) ( 9,531 ) ( 1,100 ) ( 5,550 ) Balance as of December 31, 2022 35,057 159,442 18,359 79,989 Proved developed and undeveloped reserves: Oil Natural Gas Natural Gas Liquids Total Developed as of December 31, 2019 4,223 20,293 2,298 9,903 Undeveloped as of December 31, 2019 1,616 4,200 476 2,792 Balance at December 31, 2019 5,839 24,493 2,774 12,695 Developed as of December 31, 2020 3,731 19,505 2,352 9,334 Undeveloped as of December 31, 2020 1,344 3,897 473 2,466 Balance at December 31, 2020 5,075 23,402 2,825 11,800 Developed as of December 31, 2021 9,285 40,747 4,417 20,494 Undeveloped as of December 31, 2021 2,559 5,596 606 4,098 Balance at December 31, 2021 11,844 46,343 5,023 24,592 Developed as of December 31, 2022 27,407 133,489 15,169 64,824 Undeveloped as of December 31, 2022 7,650 25,953 3,190 15,165 Balance at December 31, 2022 35,057 159,442 18,359 79,989
Schedule of Values of Proved Reserves Derived Based on Prices	The values for the December 31, 2022 and 2021 proved reserves were derived based on prices presented in the table below. The crude oil pricing was based on the West Texas Intermediate (“WTI”) price; the NGL pricing was 37 % of WTI for 2022 and 45 % of WTI for 2021; the natural gas pricing was based on the Henry Hub price. All prices have been adjusted for transportation, quality and basis differentials. Oil Natural Gas NGL December 31, 2022 (Average) $ 93.05 $ 5.70 $ 34.97 December 31, 2021 (Average) $ 64.33 $ 3.35 $ 30.14
Summary of Future Net Cash Flows Related to Proved Oil and Gas Reserves	The following summary sets forth the future net cash flows related to proved oil and gas reserves based on the standardized measure prescribed in ASC Topic 932 (in thousands): Year Ended December 31, 2022 2021 2020 Future oil and natural gas sales $ 4,812,767 $ 1,068,652 $ 238,977 Future production costs ( 404,982 ) ( 90,137 ) ( 19,379 ) Future income tax expense ( 438,049 ) ( 5,302 ) ( 1,236 ) Future net cash flows 3,969,736 973,213 218,362 10 % annual discount ( 1,792,681 ) ( 437,910 ) ( 94,803 ) Standardized measure of discounted future net cash flows $ 2,177,055 $ 535,303 $ 123,559
Schedule of Principal Changes in Standardized Measure of Discounted Future Net Cash Flows	The principal sources of change in the standardized measure of discounted future net cash flows are (in thousands): Year Ended December 31, 2022 2021 2020 Balance at the beginning of the period $ 535,303 $ 123,559 $ 183,225 Net change in prices and production costs 250,889 119,993 ( 59,911 ) Sales, net of production costs ( 329,858 ) ( 111,691 ) ( 41,043 ) Extensions and discoveries 234,973 29,853 25,196 Acquisitions of reserves 1,645,909 326,192 9,137 Divestiture of reserves — — ( 3,563 ) Revisions of previous quantity estimates 40,803 43,843 ( 18,140 ) Net change in income taxes ( 244,815 ) ( 2,205 ) 343 Accretion of discount 53,820 12,426 18,427 Changes in timing and other ( 9,969 ) ( 6,667 ) 9,888 Balance at the end of the period $ 2,177,055 $ 535,303 $ 123,559

Description of Business and B_2

Description of Business and Basis of Presentation (Details)				12 Months Ended
	Dec. 29, 2022 NetRoyaltyAcres	Jun. 07, 2022 NetRoyaltyAcres $ / shares shares	Jun. 03, 2022	Dec. 31, 2022 OperatingSegments
Business Combination Separately Recognized Transactions [Line Items]
Number of operating segments | OperatingSegments				1
Falcon Minerals [Member]
Business Combination Separately Recognized Transactions [Line Items]
Reverse stock split		four-to-one	four-to-one
Reverse stock split ratio		0.25
Warrant exercise description		the Company’s outstanding warrants (the “Warrants”) were adjusted such that four whole Warrants became exercisable for one share of Class A Common Stock at an exercise price of $44.84 per share of Class A Common Stock.
Warrants, exercise price | $ / shares		$ 44.84
Acquisition of net royalty acres | NetRoyaltyAcres		34,000
Falcon Minerals [Member] | Class C Common Stock [Member]
Business Combination Separately Recognized Transactions [Line Items]
Common stock, conversion terms		every four shares of the Company’s issued and outstanding Class C Common Stock, par value $0.0001 per share (“Class C Common Stock”), were automatically converted into one share of Class C Common Stock, without any change in the par value per share	every four shares of the Company’s issued and outstanding Class C Common Stock were automatically converted into one share of Class C Common Stock, without any change in the par value per share,
Conversion of shares		61,905,339
Shares outstanding after merger		71,752,285
Falcon Minerals [Member] | Class A Common Stock [Member]
Business Combination Separately Recognized Transactions [Line Items]
Common stock, conversion terms		every four shares of the Company’s Class A Common Stock, par value $0.0001 per share (“Class A Common Stock” and, together with the Class C Common Stock, the “Common Stock”) were automatically converted into one share of Class A Common Stock, without any change in the par value per share	every four shares of the Company’s Class A Common Stock were automatically converted into one share of Class A Common Stock, without any change in the par value per share
Shares outstanding after merger		12,088,546
Common stock issuable upon exercise of outstanding warrants		5,312,499
Falcon Minerals [Member] | Common Units Limited Partner Interests [Member]
Business Combination Separately Recognized Transactions [Line Items]
Conversion of shares		61,905,339
Brigham Merger [Member]
Business Combination Separately Recognized Transactions [Line Items]
Acquisition of net royalty acres | NetRoyaltyAcres	86,500

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Accrued Revenue and Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Revenue And Accounts Receivable [Abstract]
Accrued revenue	$ 80,406	$ 36,177
Accounts receivable	61,604	25
Total accrued revenue and accounts receivable, net	$ 142,010	$ 36,202

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary Of Significant Accounting Policy [Line Items]
Reserves for uncollectible amounts or deemed any amounts to be uncollectible	$ 0	$ 0
Impairment of proved oil and natural gas properties	0	0	$ 0
Impairment of unproved properties	0	0	812,000
General and administrative	$ 42,225,000	4,143,000	4,981,000
Percentage of franchise tax on gross revenues less certain deductions	0.75%
State income taxes	$ 1,700,000	486,000	22,000
Sitio Opco
Summary Of Significant Accounting Policy [Line Items]
Ownership percentage	51.90%
Merger-Related Transaction Costs [Member]
Summary Of Significant Accounting Policy [Line Items]
General and administrative	$ 16,700,000	$ 0	$ 0
Revenue Benchmark [Member] | Coterra Energy [Member] | Revenue from Rights Concentration Risk [Member]
Summary Of Significant Accounting Policy [Line Items]
Concentration risk, percentage		12%
Revenue Benchmark [Member] | Diamondback Energy Inc [Member] | Revenue from Rights Concentration Risk [Member]
Summary Of Significant Accounting Policy [Line Items]
Concentration risk, percentage		11%	15%
Revenue Benchmark [Member] | Callon Petroleum Company [Member] | Revenue from Rights Concentration Risk [Member]
Summary Of Significant Accounting Policy [Line Items]
Concentration risk, percentage	12%
Revenue Benchmark [Member] | Callon Petroleum Company [Member] | Revenue from Rights Concentration Risk [Member]
Summary Of Significant Accounting Policy [Line Items]
Concentration risk, percentage		11%
Revenue Benchmark [Member] | Oxy USA Inc [Member] | Revenue from Rights Concentration Risk [Member]
Summary Of Significant Accounting Policy [Line Items]
Concentration risk, percentage		10%	10%
Revenue Benchmark [Member] | Cimarex Energy [Member] | Revenue from Rights Concentration Risk [Member]
Summary Of Significant Accounting Policy [Line Items]
Concentration risk, percentage			12%
Other Property and Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Depreciation	$ 613,000	$ 588,000	$ 609,000
Impairment charge	$ 0	$ 0	$ 0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities And Other Liabilities [Abstract]
Ad valorem taxes payable	$ 9,209	$ 1,750
Brigham Merger accrued expenses	2,878
Other taxes payable	2,713	529
Payable to seller for pre-effective monies	2,243	104
General and administrative	1,931	904
Interest expense	1,377	274
Accrued prepaids	1,330
Deferred financing costs and debt issuance costs	206	13
Capital expenditures	12	391
Other		175
Total accounts payable and accrued expenses	$ 21,899	$ 4,140

Brigham Merger (Details Textual

Brigham Merger (Details Textual)			12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 29, 2022 NetRoyaltyAcres $ / shares shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Revenues			$ 369,612,000	$ 120,588,000	$ 45,699,000
Direct operating expenses			175,623,000	$ 70,714,000	$ 55,350,000
Brigham Class A Common Stock [Member]
Business Acquisition [Line Items]
Common stock, par value | $ / shares		$ 0.01
Brigham Class B Common Stock [Member]
Business Acquisition [Line Items]
Common stock, par value | $ / shares		$ 0.01
Brigham Merger [Member]
Business Acquisition [Line Items]
Acquisition of net royalty acres | NetRoyaltyAcres		86,500
Transaction costs associated with Merger			$ 13,300,000
Revenues	$ 2,400,000
Direct operating expenses	$ 113,000
Brigham Merger [Member] | Sitio Stockholders [Member]
Business Acquisition [Line Items]
Percentage of stockholding by stockholders after Merger		54%
Brigham Merger [Member] | Brigham Stockholders [Member]
Business Acquisition [Line Items]
Percentage of stockholding by stockholders after Merger		46%
Brigham Merger [Member] | Sitio Class A Common Stock [Member]
Business Acquisition [Line Items]
Common stock, par value | $ / shares		$ 0.0001
Conversion of shares | shares		1.133
Brigham Merger [Member] | Sitio Class C Common Stock [Member]
Business Acquisition [Line Items]
Common stock, par value | $ / shares		$ 0.0001
Conversion of shares | shares		1.133
Brigham Merger [Member] | OpCo LP Units [Member]
Business Acquisition [Line Items]
Conversion of shares | shares		1.133
Number of fractional shares outstanding | shares		0

Brigham Merger - Schedule of Co

Brigham Merger - Schedule of Consideration for Merger (Details) - USD ($)	Dec. 29, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Common stock, shares outstanding		74,347,005
Brigham Merger [Member]
Business Acquisition [Line Items]
Common stock, shares issued	71,290,265
Common stock, shares outstanding	71,290,265
Common stock price	$ 30.15
Total consideration and fair value	$ 2,149,401,490

Brigham Merger - Schedule of Pr

Brigham Merger - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - Brigham Merger [Member]	Dec. 29, 2022 USD ($)
Business Acquisition [Line Items]
Cash	$ 11,054,000
Accrued revenue and accounts receivable	61,745,000
Prepaid expenses	11,339,000
Unproved oil and gas properties	1,783,162,000
Proved oil and gas properties	873,050,000
Property and equipment	200,000
Right-of-use asset	3,209,000
Other assets	1,064,000
Current liabilities	(83,425,000)
Long-term debt	(193,000,000)
Long-term operating lease liability	(2,387,000)
Deferred tax liability	(316,571,000)
Other long-term liability	(39,000)
Total consideration and fair value	$ 2,149,401,490

Brigham Merger - Schedule of Un

Brigham Merger - Schedule of Unaudited Pro Forma Financial Information (Details) - Brigham Merger [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Total revenues	$ 756,590	$ 389,621
Pro forma income (loss) available to Class A stockholders	$ 121,110	$ (8,435)
Basic	$ 1.50	$ (0.12)
Diluted	$ 1.50	$ (0.12)

Falcon Reverse Merger - Additio

Falcon Reverse Merger - Additional Information (Details) $ / shares in Units, $ in Thousands			7 Months Ended	12 Months Ended
	Jun. 07, 2022 USD ($) NetRoyaltyAcres shares	Jun. 03, 2022 $ / shares	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Revenues				$ 369,612	$ 120,588	$ 45,699
Direct operating expenses				175,623	$ 70,714	$ 55,350
Revolving Credit Facility [Member]
Business Acquisition [Line Items]
Repayment of borrowings	$ 43,100
Falcon Minerals [Member]
Business Acquisition [Line Items]
Acquisition of net royalty acres | NetRoyaltyAcres	34,000
Reverse stock split	four-to-one	four-to-one
Transaction costs associated with Merger				$ 3,400
Revenues			$ 43,500
Direct operating expenses			$ 2,900
Falcon Minerals [Member] | Class C Common Stock [Member]
Business Acquisition [Line Items]
Common stock, conversion terms	every four shares of the Company’s issued and outstanding Class C Common Stock, par value $0.0001 per share (“Class C Common Stock”), were automatically converted into one share of Class C Common Stock, without any change in the par value per share	every four shares of the Company’s issued and outstanding Class C Common Stock were automatically converted into one share of Class C Common Stock, without any change in the par value per share,
Conversion of shares | shares	61,905,339
Falcon Minerals [Member] | Class A Common Stock [Member]
Business Acquisition [Line Items]
Common stock, conversion terms	every four shares of the Company’s Class A Common Stock, par value $0.0001 per share (“Class A Common Stock” and, together with the Class C Common Stock, the “Common Stock”) were automatically converted into one share of Class A Common Stock, without any change in the par value per share	every four shares of the Company’s Class A Common Stock were automatically converted into one share of Class A Common Stock, without any change in the par value per share
Exercise price per share | $ / shares		$ 44.84
Falcon Minerals [Member] | Class A Common Stock [Member] | Warrants [Member]
Business Acquisition [Line Items]
Warrants, conversion terms		four whole Warrants became exercisable for one share of Class A Common Stock at an exercise price of $44.84 per share of Class A Common Stock.
Falcon Minerals [Member] | Common Units Limited Partner Interests [Member]
Business Acquisition [Line Items]
Conversion of shares | shares	61,905,339

Falcon Reverse Merger - Schedul

Falcon Reverse Merger - Schedule of Consideration for Falcon Merger - (Details) - USD ($)		12 Months Ended
	Jun. 07, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Common stock, shares outstanding		74,347,005
Falcon Minerals [Member]
Business Acquisition [Line Items]
Common stock, shares issued	21,935,492
Common stock, shares outstanding	21,935,492
Common stock price	$ 29.12
Total consideration and fair value	$ 638,761,527	$ 638,762,000

Falcon Reverse Merger - Sched_2

Falcon Reverse Merger - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - Falcon Minerals [Member] - USD ($)		12 Months Ended
	Jun. 07, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Cash	$ 4,484,000	$ 4,484,000
Accrued revenue and accounts receivable	12,054,000	18,750,000
Unproved oil and gas properties	495,803,000	491,231,000
Proved oil and gas properties	200,773,000	200,773,000
Property and equipment	278,000	278,000
Current liabilities	(22,315,000)	(23,421,000)
Long-term debt	(43,105,000)	(43,105,000)
Deferred tax liability	(2,598,000)	(3,616,000)
Warrant liability	(6,612,000)	(6,612,000)
Total consideration and fair value	$ 638,761,527	638,762,000
Adjustments
Business Acquisition [Line Items]
Accrued revenue and accounts receivable		6,696,000
Unproved oil and gas properties		(4,572,000)
Current liabilities		(1,106,000)
Deferred tax liability		$ (1,018,000)

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details)	12 Months Ended
	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
Payment receives description	The Company typically receives payment for oil, natural gas and NGL sales within 30 to 90 days of the month of delivery after initial production from the well. Such periods can extend longer due to factors outside of our control.

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Disaggregated Revenues From Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Total royalty revenues	$ 355,430	$ 118,548	$ 44,194
Crude Oil Sales [Member]
Disaggregation Of Revenue [Line Items]
Total royalty revenues	266,179	84,818	34,878
Natural Gas Sales [Member]
Disaggregation Of Revenue [Line Items]
Total royalty revenues	52,380	17,143	4,278
NGL Sales [Member]
Disaggregation Of Revenue [Line Items]
Total royalty revenues	$ 36,871	$ 16,587	$ 5,038

Oil and Gas Properties - Summar

Oil and Gas Properties - Summary of Oil and Natural Gas Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Oil and natural gas properties:
Unproved properties	$ 3,244,436	$ 817,873
Proved properties	1,926,214	447,369
Oil and natural gas properties, gross	5,170,650	1,265,242
Accumulated depletion and impairment	(222,072)	(118,175)
Oil and natural gas properties, net	$ 4,948,578	$ 1,147,067

Oil and Gas Properties (Details

Oil and Gas Properties (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Mineral acquisition costs	$ 557,600	$ 38,500
Acquired mineral and royalty interests	3,348,216
Oil and gas properties acquired through issuance of equity in consolidated subsidiary:		572,166
Acquired mineral and royalty interests	557,569	38,470
Payment related to purchase price adjustments from prior property sales		137,000
Payments to Acquire Oil and Gas Property and Equipment	557,569	38,470	$ 35,543
Proceeds from sale of mineral interests			14,100
Depletion expense	$ 103,900	$ 40,300	$ 31,400

Acquisitions (Details Textual)

Acquisitions (Details Textual) $ in Millions			1 Months Ended
	Jul. 31, 2022 USD ($) NetRoyaltyAcres	Jun. 30, 2021 USD ($) a	Jun. 30, 2022 USD ($) a	Aug. 31, 2021 USD ($) a	Jun. 30, 2021 USD ($) a	Dec. 31, 2022 a	Oct. 31, 2020
Business Acquisition [Line Items]
Transaction costs capitalized			$ 0.8
Rock Ridge Royalty, LLC [Member]
Business Acquisition [Line Items]
Net royalty acres | a		18,700			18,700
Total consideration					$ 258.6
Transaction costs capitalized					$ 1.1
Rock Ridge Royalty, LLC [Member] | Unproved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration		$ 190.3
Rock Ridge Royalty, LLC [Member] | Proved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration		$ 68.3
Foundation Minerals, LLC [Member]
Business Acquisition [Line Items]
Net royalty acres | a			19,700
Total consideration			$ 320.6
Foundation Minerals, LLC [Member] | Unproved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration			189.3
Foundation Minerals, LLC [Member] | Proved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration			$ 131.3
Falcon Acquisition [Member]
Business Acquisition [Line Items]
Net royalty acres | a			34,000
Source Acquisition [Member]
Business Acquisition [Line Items]
Net royalty acres | a				25,000
Total consideration				$ 252.9
Transaction costs capitalized				3.5
Source Acquisition [Member] | Unproved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration				183.2
Source Acquisition [Member] | Proved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration				$ 69.7
Momentum [Member]
Business Acquisition [Line Items]
Number of net royalty acres | NetRoyaltyAcres	12,200
Purchase price	$ 213.3
Transaction costs capitalized	0.7
Momentum [Member] | Unproved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration	74.2
Momentum [Member] | Proved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Total consideration	$ 139.1
Brigham Minerals
Business Acquisition [Line Items]
Net royalty acres | a						86,500
Chambers Minerals, LLC [Member]
Business Acquisition [Line Items]
Acquisition percentage		84%			84%		84%
Business acquisition net book value from sale of assets		$ 60.6			$ 60.6
Excess of fair value of properties above net book value		37.5			37.5
Chambers Minerals, LLC [Member] | Unproved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Business acquisition net book value from sale of assets		45.3			45.3
Chambers Minerals, LLC [Member] | Proved Oil And Gas Property [Member]
Business Acquisition [Line Items]
Business acquisition net book value from sale of assets		$ 15.3			$ 15.3
Chambers Minerals, LLC [Member] | Kimmeridge [Member]
Business Acquisition [Line Items]
Royalty interest ownership percentage							2%

Debt (Details)

Debt (Details) - USD ($)			12 Months Ended
	Sep. 21, 2022	Jun. 07, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 29, 2022	Jul. 08, 2022	Jun. 24, 2022	May 16, 2019
Line Of Credit Facility [Line Items]
Aggregate principal amount	$ 450,000,000
Proceeds from notes	425,000,000		$ 425,000,000
Loss on extinguishment of debt	$ 11,500,000		$ (11,487,000)
Minimum [Member]
Line Of Credit Facility [Line Items]
Applicable margin			0.10%
Maximum [Member]
Line Of Credit Facility [Line Items]
Applicable margin			0.25%
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Borrowing base			$ 300,000,000	$ 150,000,000
Outstanding balance			$ 250,000,000	$ 134,000,000
Weighted average interest rate			7.62%	3.36%
Unamortized debt issuance costs			$ 6,000,000	$ 2,100,000
Interest expense			$ 1,200,000	$ 440,000	$ 255,000
Maturity date			Jun. 05, 2026
Cash netting capped value			$ 25,000,000
Revolving Credit Facility [Member] | Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Borrowing base		$ 300,000,000
Aggregate principal amount			750,000,000
Elected commitment amount		300,000,000
Maximum aggregate amount of letters of credit to be issued		$ 15,000,000
Revolving Credit Facility [Member] | First Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Permitted additional debt maximum amount waived			$ 400,000
Revolving Credit Facility [Member] | RBL Fourth Amendment [Member]
Line Of Credit Facility [Line Items]
Borrowing base						$ 300,000,000
Revolving Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Commitment fee percentage			0.375%
Current ratio			1%
Revolving Credit Facility [Member] | Minimum [Member] | Adjusted Base Rate Loans [Member]
Line Of Credit Facility [Line Items]
Applicable margin			1.50%
Revolving Credit Facility [Member] | Minimum [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Line Of Credit Facility [Line Items]
Applicable margin			2.50%
Revolving Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Commitment fee percentage			0.50%
Current ratio			1%
Total net funded debt to consolidated EBITDA			3.50%
Revolving Credit Facility [Member] | Maximum [Member] | Adjusted Base Rate Loans [Member]
Line Of Credit Facility [Line Items]
Applicable margin			2.50%
Revolving Credit Facility [Member] | Maximum [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Line Of Credit Facility [Line Items]
Applicable margin			3.50%
RBL Second Amendment [Member]
Line Of Credit Facility [Line Items]
Outstanding balance							$ 450,000,000
Aggregate principal amount							$ 50,000,000
Brigham Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Borrowing base			$ 290,000,000
Outstanding balance			$ 260,000,000
Weighted average interest rate			8.04%
Unamortized debt issuance costs			$ 1,100,000
Maturity date			May 16, 2024
Cash netting capped value			$ 25,000,000
Brigham Revolving Credit Facility [Member] | Brigham Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount									$ 500,000
Brigham Revolving Credit Facility [Member] | SOFR [Member]
Line Of Credit Facility [Line Items]
Current ratio			0.10%
Brigham Revolving Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Commitment fee percentage			0.375%
Current ratio			1%
Total net funded debt to consolidated EBITDA			1%
Brigham Revolving Credit Facility [Member] | Minimum [Member] | Adjusted Base Rate Loans [Member]
Line Of Credit Facility [Line Items]
Applicable margin			1.50%
Brigham Revolving Credit Facility [Member] | Minimum [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Line Of Credit Facility [Line Items]
Applicable margin			2.50%
Brigham Revolving Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Commitment fee percentage			0.50%
Current ratio			1%
Total net funded debt to consolidated EBITDA			3.50%
Brigham Revolving Credit Facility [Member] | Maximum [Member] | Adjusted Base Rate Loans [Member]
Line Of Credit Facility [Line Items]
Applicable margin			2.50%
Brigham Revolving Credit Facility [Member] | Maximum [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Line Of Credit Facility [Line Items]
Applicable margin			3.50%
2026 Senior Notes [Member]
Line Of Credit Facility [Line Items]
Outstanding balance			$ 438,800,000
Weighted average interest rate			11.23%
Unamortized debt issuance costs			$ 4,700,000
Interest expense			$ 342,000
Debt repayment terms			option, to prepay the 2026 Senior Notes on the last business day of each calendar quarter in an amount equal to 2.50% of the aggregate principal amount of all the 2026 Senior Notes issued under the Note Purchase Agreement, which prepayments will not require the payment of any premium (each, an “Optional Quarterly Payment”). If Sitio OpCo does not make an Optional Quarterly Payment on any quarterly payment date, the applicable margin on the 2026 Senior Notes will increase to 9.50% for 2026 Senior Notes bearing interest based on the adjusted Term SOFR rate and 8.50% for 2026 Senior Notes bearing interest based on the base rate. After the Fold In Date, if an Optional Quarterly Payment is not made, the margin will increase to 7.75% for 2026 Senior Notes bearing interest based on the adjusted Term SOFR rate and 6.75% for 2026 Senior Notes bearing interest based on the base rate. The increased margin will apply until the earlier of the date on which Sitio OpCo makes such Optional Quarterly Payment or the next quarterly payment date.
Percentage of aggregate principal amount quarterly payments	2.50%
2026 Senior Notes [Member] | SOFR [Member]
Line Of Credit Facility [Line Items]
Applicable margin	6.50%
Credit spread adjustment	0.15%
2026 Senior Notes [Member] | SOFR [Member] | From and after Closing date of Merger [Member]
Line Of Credit Facility [Line Items]
Applicable margin	5.75%
2026 Senior Notes [Member] | SOFR [Member] | Subsequent To Brigham Merger [Member]
Line Of Credit Facility [Line Items]
Applicable margin	7.75%
2026 Senior Notes [Member] | Interest based on Base Rate [Member]
Line Of Credit Facility [Line Items]
Applicable margin	5.50%
2026 Senior Notes [Member] | Interest based on Base Rate [Member] | From and after Closing date of Merger [Member]
Line Of Credit Facility [Line Items]
Applicable margin	4.75%
2026 Senior Notes [Member] | Interest based on Base Rate [Member] | Subsequent To Brigham Merger [Member]
Line Of Credit Facility [Line Items]
Applicable margin	6.75%
2026 Senior Notes [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Leverage ratio			3.50
2026 Senior Notes [Member] | Maximum [Member] | SOFR [Member]
Line Of Credit Facility [Line Items]
Applicable margin	9.50%
2026 Senior Notes [Member] | Maximum [Member] | Interest based on Base Rate [Member]
Line Of Credit Facility [Line Items]
Applicable margin	8.50%
Bridge Loan Facility [Member] | 364-Day Bridge Loan Agreement [Member]
Line Of Credit Facility [Line Items]
Interest expense			$ 3,400,000
Aggregate principal amount								$ 425,000,000

Schedule of Prepay Premium dete

Schedule of Prepay Premium determined Based on Length of Time Between Issuance Date and Prepayment (Details) - 2026 Senior Notes [Member]	12 Months Ended
	Dec. 31, 2022
Months 0 - 12 [Member]
Debt Instrument, Redemption [Line Items]
Prepay premium percentage	3%
Months 13 - 24 [Member]
Debt Instrument, Redemption [Line Items]
Prepay premium percentage	3%
Months 25 - 36 [Member]
Debt Instrument, Redemption [Line Items]
Prepay premium percentage	1%
Months 37 - 48 [Member]
Debt Instrument, Redemption [Line Items]
Prepay premium percentage	0%

Equity - (Details Textual)

Equity - (Details Textual) - USD ($)			1 Months Ended			12 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Jun. 30, 2022	Nov. 30, 2021	Oct. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Common stock, shares outstanding						74,347,005
Treasury shares par value						$ 30.15
Dividends paid						$ 18,165,000
Consideration received						0
Partners' capital						$ 0
Distributions							$ 128,382,000
DPM HoldCo [Member] | Outside Owners [Member]
Class Of Stock [Line Items]
Distributions			$ 13,300,000		$ 60,900,000
DPM HoldCo [Member] | Affiliate Kimmeridge Fund [Member]
Class Of Stock [Line Items]
Distributions			$ 1,900,000		$ 8,700,000
Subsidiaries [Member]
Class Of Stock [Line Items]
Additional partnership units may be issued						2,500,000
Predecessor [Member]
Class Of Stock [Line Items]
Committed capital from limited partner							618,400,000
Committed capital from general partner							8,000,000
Committed capital							$ 29,500,000
Contributed capital as percentage of committed capital							95%
Distributions				$ 67,500,000
Distribution to limited partners				66,600,000
Distribution to general partner				$ 900,000
Warrants [Member]
Class Of Stock [Line Items]
Business combination, description						Contributors of Falcon’s initial assets in 2018 will be entitled to receive earn-out consideration to be paid in the form of Sitio OpCo Partnership Units (with a corresponding number of shares of Class C Common Stock) if the volume-weighted average price of the trading days during any thirty (30) calendar days (the “30-Day VWAP”) of the Class A Common Stock equals or exceeds certain hurdles set forth in the Contribution Agreement. If the 30-Day VWAP of the Class A Common Stock is $50.00 or more per share (on a split-adjusted basis) at any time within the seven years following the 2018 closing, the contributors will receive (a) an additional 2.5 million Sitio OpCo Partnership Units (and an equivalent number of shares of Class C Common Stock), plus (b) an amount of Sitio OpCo Partnership Units (and an equivalent number of shares of Class C Common Stock) equal to (i) the amount by which annual cash dividends paid on each share of Class A Common Stock exceeds $2.00 in each year between the closing and the date the first earn-out is achieved (with any dividends paid in the stub year in which the first earn-out is achieved annualized for purposes of determining what portion of such dividends would have, on an annual basis, exceeded $2.00), multiplied by 2.5 million, (ii) divided by $50.00. If the 30-Day VWAP of the Class A Common Stock is $60.00 or more per share (on a split-adjusted basis) at any time within the seven years following the closing (which $60.00 threshold will be reduced by the amount by which annual cash dividends paid on each share of Class A Common Stock exceeds $2.00 in each year between the closing and the date the earn-out is achieved, but not below $50.00), the contributors will receive an additional 2.5 million Sitio OpCo Partnership Units (and an equivalent number of shares of Class C Common Stock). Upon recognition of the earn-out, as there is no consideration received, the Company would record the payment of the earn-out as adjustments through equity (noncontrolling interest and additional-paid-in-capital).
Class A Common Stock [Member]
Class Of Stock [Line Items]
Common stock, shares outstanding						80,171,951	0
Voting rights description						Holders of Class A Common Stock are entitled to one vote per share on all matters to be voted upon by the stockholders and are entitled to ratably receive dividends when and if declared by the Company’s Board.
Redemption of shares						1,361,966
Shares held in treasury						633,005
Dividends amount per share	$ 0.72
Dividends paid	$ 9,100,000
Class C Common Stock [Member]
Class Of Stock [Line Items]
Common stock, shares outstanding						74,347,005	0
Common Class A and C [Member]
Class Of Stock [Line Items]
Dividends amount per share		$ 0.71
Dividends paid		$ 9,000,000

Equity - Schedule of basic and

Equity - Schedule of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		7 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 28, 2022	Dec. 31, 2022
Numerator:
Net income (loss) attributable to stockholders	$ (101)	$ 15,751	$ 15,701
Less: Earnings allocated to participating securities			(579)
Net income attributable to Class A stockholders - basic			15,122
Net income attributable to temporary equity			90,377
Less: net loss attributable to noncontrolling interest			(51)
Net income attributable to Class A stockholders - diluted			$ 105,448
Denominator:
Weighted average shares outstanding - basic			13,723
Weighted average shares outstanding - diluted			13,723
Net income per common share - basic			$ 1.10
Net income per common share - diluted			$ 1.10

Equity - Schedule of Computatio

Equity - Schedule of Computation of diluted earnings per share (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2022 shares
Class Of Stock [Line Items]
Total diluted earnings	5,614
Unvested Share-based Compensation Awards [Member]
Class Of Stock [Line Items]
Total diluted earnings	302
Warrants [Member]
Class Of Stock [Line Items]
Total diluted earnings	5,312

Temporary Equity and Noncontr_3

Temporary Equity and Noncontrolling Interest - Additional Information (Detail) - USD ($) shares in Millions			12 Months Ended
	Dec. 31, 2022	Dec. 29, 2022	Dec. 31, 2022	Dec. 31, 2021
Temporary Equity [Line Items]
Redemption value of temporary equity to carrying value of noncontrolling interest		$ 2,000,000,000
Net loss attributable to noncontrolling interest			$ 51,000
Carrying value of noncontrolling interest	$ 2,164,228,000		$ 2,164,228,000	$ 502,521,000
Class C Common Stock [Member] | KMF [Member]
Temporary Equity [Line Items]
Temporary equity, Shares issued	62		62
Class C Common Stock [Member] | Prior Class C Shareholder [Member]
Temporary Equity [Line Items]
Temporary equity, Shares issued	10		10
Brigham Merger [Member]
Temporary Equity [Line Items]
Increase in carrying value of noncontrolling interest	$ 119,300,000
Net loss attributable to noncontrolling interest	$ 51,000

Temporary Equity and Noncontr_4

Temporary Equity and Noncontrolling Interest - Summary of Recorded Adjustments to Temporary Equity (Details) - USD ($) $ in Thousands		7 Months Ended		12 Months Ended
	Dec. 29, 2022	Dec. 28, 2022	Dec. 28, 2022	Dec. 31, 2022
Temporary Equity [Line Items]
Net income attributable to temporary equity				$ 90,377
Adjustment of temporary equity to redemption amount			$ (706,939)	$ (706,940)
Reclassification to noncontrolling interest	$ 2,000,000
Desert Peak [Member]
Temporary Equity [Line Items]
Beginning Balance		$ 1,395,799
Share-based compensation		1,283
Conversion of Class C Common Stock to Class A Common Stock		(34,038)
Net income attributable to temporary equity		90,377
Distributions to holders of temporary equity		(115,375)
Adjustment of temporary equity to redemption amount		(706,940)
Reclassification to noncontrolling interest		$ (2,044,986)

Temporary Equity and Noncontr_5

Temporary Equity and Noncontrolling Interest - Summary of Recorded Adjustments to Temporary Equity - (Parenthetical) (Details) - Desert Peak [Member] - $ / shares	Dec. 28, 2022	Jun. 07, 2022
Class C Common Stock [Member]
Temporary Equity [Line Items]
Temporary equity, Shares outstanding		71,752,285
Class A Common Stock [Member]
Temporary Equity [Line Items]
Temporary equity, Shares outstanding	70,390,316
Temporary equity, Value per share	$ 29.05

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($)	7 Months Ended	12 Months Ended
	Dec. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 29, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 9,200,000	$ 0	$ 0
Dividend equivalent rights paid	$ 579,000	579,000	0	0
Unamortized equity-based compensation expense		$ 526,000
Weighted average period expected to be recognized		4 months 24 days
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 4,500,000	0	0
Equity based awards description		In connection with the Falcon Merger, the Board granted one-time equity-based awards to our executive officers and employees under the Plan, consisting of RSUs subject to a vesting period of one year. The Board also granted an annual equity-based award to our executive officers under the Plan, which consists of RSUs that vest in equal installments on the first three anniversaries of June 7, 2022.
Unamortized equity-based compensation expense		$ 8,500,000
Weighted average period expected to be recognized		1 year 9 months 18 days
Deferred Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 1,300,000
Equity based awards description		In connection with the Falcon Merger, the Board granted awards of DSUs under the Plan to each of our non-employee directors. The DSUs are expected to vest in equal quarterly installments over the one-year period beginning on June 7, 2022.
Performance Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 2,200,000	0	0
Equity based awards description		In connection with the Falcon Merger in June 2022, the Board granted an annual equity-based award to our executive officers under the Incentive Plan, which consisted of PSUs. The PSUs will be eligible to be earned based on achievement of certain pre-established goals for annualized absolute Total Shareholder Return (“TSR”) over a three-year period following the consummation of the Falcon Merger.
Unamortized equity-based compensation expense		$ 9,900,000
Weighted average period expected to be recognized		2 years 6 months
Dividend yield		0%
Sitio OpCo Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 1,300,000	0	0
Equity based awards description		In connection with the Falcon Merger, legacy Desert Peak owners (the “Falcon Merger Sponsors”), desired to assign, transfer and convey their rights to receive a portion of their Falcon Merger Consideration to our executive officers as an incentive to continue to serve as executive officers following the Falcon Merger. The Falcon Merger Consideration consists of units of Sitio Royalties OpCo Partnership Units and an equal number of shares of Class C Common Stock. The conveyance of Falcon Merger Consideration, which consists of Class C Common Stock, is deemed to be a grant of restricted stock awards (each, an “RSA”) to our executive officers. Each Sitio OpCo RSA is expected to vest in equal installments on the first four anniversaries of June 6, 2022. The Company estimated the fair value of the RSAs as the closing price of the Company’s Class A Common Stock on the grant date of the award, which is expensed over the applicable service period.
Unamortized equity-based compensation expense		$ 7,700,000
Weighted average period expected to be recognized		3 years 4 months 24 days
Restricted Stock Units Converted to Brigham Merger [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 2,000	0	0
Conversion rate		1.133
Unamortized equity-based compensation expense		$ 640,000
Weighted average period expected to be recognized		2 years 2 months 12 days
Performance stock Units Converted To Brigham Merger [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based Compensation Expense		$ 1,000,000	$ 0	$ 0
Conversion rate		1.133
Deemed Performance Targets Percentage On Date Of Merger					200%
Unamortized equity-based compensation expense		$ 324,000
Weighted average period expected to be recognized		2 years 2 months 12 days
Class A Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate common stock available for issuance		8,384,083
Available for future grant		7,535,151
Conversion rate		1.133

Share-Based Compensation - Summ

Share-Based Compensation - Summary of activity in unvested RSUs, DSUs, PSUs and unvested RSAs (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	447,519
Forfeited | shares	(1,391)
Unvested at December 31, 2022 | shares	446,128
Grant Date Fair Value, Granted | $ / shares	$ 29.11
Grant Date Fair Value, Forfeited | $ / shares	29.12
Grant Date Fair Value, ending balance | $ / shares	$ 29.11
Deferred Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	62,586
Vested | shares	20,862
Unvested at December 31, 2022 | shares	41,724
Grant Date Fair Value, Granted | $ / shares	$ 28.80
Grant Date Fair Value, Vested | $ / shares	28.17
Grant Date Fair Value, ending balance | $ / shares	$ 29.12
Performance Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	308,953
Unvested at December 31, 2022 | shares	308,953
Grant Date Fair Value, Granted | $ / shares	$ 39.12
Grant Date Fair Value, ending balance | $ / shares	$ 39.12
Sitio OpCo Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	309,527
Unvested at December 31, 2022 | shares	309,527
Grant Date Fair Value, Granted | $ / shares	$ 29.12
Grant Date Fair Value, ending balance | $ / shares	$ 29.12
Restricted Stock Units Converted to Brigham Merger [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	21,279
Unvested at December 31, 2022 | shares	21,279
Grant Date Fair Value, Granted | $ / shares	$ 30.15
Grant Date Fair Value, ending balance | $ / shares	$ 30.15
Performance Stock Units Converted to Brigham Merger [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted | shares	10,786
Unvested at December 31, 2022 | shares	10,786
Grant Date Fair Value, Granted | $ / shares	$ 30.15
Grant Date Fair Value, ending balance | $ / shares	$ 30.15

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Performance Targets Associated (Details) - Performance Stock Units [Member]	12 Months Ended
	Dec. 31, 2022
Base of Range [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of Target PSUs Earned	0%
Threshold [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annualized Absolute TSR Goal	0%
Percentage of Target PSUs Earned	50%
Target [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annualized Absolute TSR Goal	10%
Percentage of Target PSUs Earned	100%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annualized Absolute TSR Goal	20%
Percentage of Target PSUs Earned	200%
Maximum [Member] | Base of Range [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annualized Absolute TSR Goal	0%

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of weighted average assumptions to determine fair value (Details) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2022 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0%
Weighted average fair value	$ 39.12
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility	67.30%
Risk-free rate	4.18%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility	67.23%
Risk-free rate	2.89%

Warrants (Details Textual)

Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jun. 07, 2022	Jun. 03, 2022	Dec. 31, 2021	Aug. 23, 2008
Class Of Stock [Line Items]
Warrants, description	As a result of the Falcon Merger, the Company’s Warrants were adjusted such that four whole Public Warrants became exercisable for one share of Class A Common Stock at an exercise price of $44.84 per share of Class A Common Stock. Pursuant to the Warrant Agreement, to the extent that any common stock dividend paid by the Company, when combined with other common stock dividends paid in the prior 365 days, exceeds $2.00, it is categorized as an Extraordinary Dividend. Extraordinary Dividends reduce, penny for penny, the exercise price of the Warrants. As of December 31, 2022, the exercise price of the Warrants was $44.63 after giving effect to the Reverse Stock Split and after the Extraordinary Dividends that were paid subsequent to the Falcon Merger. The Public Warrants will expire in August 2023 or earlier upon redemption or liquidation. The Company may call the Public Warrants for redemption, in whole and not in part, at a price of $0.01 per warrant with not less than 30 days’ notice provided to the Public Warrant holders. However, this redemption right can only be exercised if the last sale price of the Class A Common Stock equals or exceeds $72.00 per share, after giving effect to the Reverse Stock Split, for any 20 trading days within a 30-day trading period ending three business days before we send the notice of redemption to the Public Warrant holders.
Warrant outstanding, shares				0
Fair value of warrants	$ 2,950
Private Placement Warrants [Member]
Class Of Stock [Line Items]
Number of warrants exercisable for one share of common stock			4
Warrants, exercise price					$ 1
Warrants, description	As a result of the Falcon Merger, the Company’s Private Placement Warrants were adjusted such that four Private Placement Warrants are exercisable for one share of Class A Common Stock at an exercise price of $44.63 per share of Class A Common Stock. The Private Placement Warrants are identical to the Public Warrants discussed above, except (a) they will not be redeemable by the Company so long as they are held by the IPO Sponsor and (b) they may be exercisable by the holders on a cashless basis.
Warrant outstanding, shares	7,500,000				7,500,000
Public Warrants [Member]
Class Of Stock [Line Items]
Number of warrants exercisable for one share of common stock		4
Warrants, exercise price	$ 44.63
Class of warrant or right expiration period	2023-08
Redemption price per warrant	$ 0.01
Redemption of warrants notice period	30 days
Redemption of warrants threshold consecutive trading days	20 days
Warrant outstanding, shares	13,749,998
Fair value of warrants	$ 1,600
Class A Common Stock [Member] | Private Placement Warrants [Member]
Class Of Stock [Line Items]
Number of common stock into which warrant converted			1
Warrant to purchase shares of common stock exercise price			$ 44.63
Class A Common Stock [Member] | Public Warrants [Member]
Class Of Stock [Line Items]
Warrants, exercise price		$ 44.84
Number of common stock into which warrant converted		1
Extraordinary Dividends [Member] | Public Warrants [Member]
Class Of Stock [Line Items]
Common stock dividends paid, period	365 days
Extraordinary dividend threshold limit	$ 2
Minimum [Member] | Class A Common Stock [Member] | Public Warrants [Member]
Class Of Stock [Line Items]
Redemption of warrants common stock trigger price per share	$ 72
Maximum [Member] | Public Warrants [Member]
Class Of Stock [Line Items]
Redemption of warrants threshold trading days	30 days

Warrants (Details)

Warrants (Details) - Level 3 [Member]	Dec. 31, 2022 $ / shares
Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrants, outstanding, term	8 months 12 days
Stock Price [Member]
Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding measurement input	28.85
Volatility [Member]
Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding measurement input	47
Risk-Free Rate [Member]
Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding measurement input	4.70
Dividend Yield [Member]
Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding measurement input	6.93

Warrants (Details 1)

Warrants (Details 1) - Warrant Liability [Member] - Private Placement Warrants [Member] - Level 3 [Member] $ in Thousands	7 Months Ended
	Dec. 31, 2022 USD ($)
Fair Value Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 2,213
Decrease in fair value	(844)
Ending balance	$ 1,369

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Oil and Gas Swap Contracts (Details) - Oil and Gas Swap Contracts [Member]	Dec. 31, 2022 MMBTU $ / bbl $ / MMBTU bbl
Oil (NYMEX WTI) Remaining Term From January 2023 to December 2023 [Member]
Derivative [Line Items]
Bbl per Day | bbl	3,050
Weighted Average Price | $ / bbl	93.71
Oil (NYMEX WTI) Remaining Term From January 2024 to December 2024 [Member]
Derivative [Line Items]
Bbl per Day | bbl	3,300
Weighted Average Price | $ / bbl	82.66
Oil (NYMEX WTI) Remaining Term From January 2025 to June 2025 [Member]
Derivative [Line Items]
Bbl per Day | bbl	1,100
Weighted Average Price | $ / bbl	74.65
Gas (NYMEX Henry Hub) Remaining Term From January 2023 to December 2023 [Member]
Derivative [Line Items]
MMBtu per Day | MMBTU	500
Weighted Average Price | $ / MMBTU	3.83
Gas (NYMEX Henry Hub) Remaining Term From January 2024 to December 2024 [Member]
Derivative [Line Items]
MMBtu per Day | MMBTU	500
Weighted Average Price | $ / MMBTU	3.41

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Oil and Gas Two-way Commodity Collar Contracts (Details) - Oil and Gas Two-way Commodity Collar Contracts [Member]	Dec. 31, 2022 MMBTU $ / MMBTU $ / bbl bbl
Oil (NYMEX WTI) Remaining Term From January 2025 to June 2025 [Member]
Derivative [Line Items]
Bbl per Day | bbl	2,000
Weighted Average Floor Price | $ / bbl	60
Weighted Average Ceiling Price | $ / bbl	93.20
Gas (NYMEX Henry Hub) Remaining Term From January 2023 to December 2023 [Member]
Derivative [Line Items]
MMBtu per Day | MMBTU	8,500
Weighted Average Floor Price	4.82
Weighted Average Ceiling Price	7.93
Gas (NYMEX Henry Hub) Remaining Term From January 2024 to December 2024 [Member]
Derivative [Line Items]
MMBtu per Day | MMBTU	11,400
Weighted Average Floor Price	4
Weighted Average Ceiling Price	7.24
Gas (NYMEX Henry Hub) Remaining Term From January 2025 to June 2025 [Member]
Derivative [Line Items]
MMBtu per Day | MMBTU	11,600
Weighted Average Floor Price	3.31
Weighted Average Ceiling Price	10.34

Derivative Instruments (Details

Derivative Instruments (Details Textual) - Interest Rate Derivatives [Member] - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2022	Dec. 31, 2022
Derivative [Line Items]
Derivative, initial notional amount	$ 225,000,000
Decrease in notional amount		$ 5,625,000
Interest rate swap term expiry date	Dec. 31, 2023

Derivative Instruments - Summar

Derivative Instruments - Summary of Derivative Instruments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Derivative assets, current	$ 18,874
Long-term derivative asset	13,379
Derivatives Not Designated as Hedges [Member]
Derivative [Line Items]
Derivative asset	32,253
Net derivatives	32,253
Derivatives Not Designated as Hedges [Member] | Commodity Contracts [Member]
Derivative [Line Items]
Derivative assets, current	18,555
Long-term derivative asset	13,379
Derivatives Not Designated as Hedges [Member] | Interest Rate
Derivative [Line Items]
Derivative assets, current	$ 319

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Gross Fair Values of Recognized Derivative Assets and Liabilities, Amounts Offset Under Master Netting Arrangements With Counterparties and Resulting Net Amounts (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Commodity Derivative Assets [Member]
Derivative [Line Items]
Gross Fair Value	$ 36,813
Gross Amounts Offset	(4,879)
Derivative Asset, Total	$ 31,934
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets Current
Interest Rate Derivative Assets [Member]
Derivative [Line Items]
Gross Fair Value	$ 319
Derivative Asset, Total	$ 319
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets Current
Commodity Derivative Liabilities [Member]
Derivative [Line Items]
Gross Fair Value	$ (4,879)
Gross Amounts Offset	$ 4,879
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities Current

Derivative Instruments - Summ_3

Derivative Instruments - Summary of Derivative Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2020
Derivative [Line Items]
Commodity and interest rate derivative gains	$ 110
Commodity Contracts [Member]
Derivative [Line Items]
Commodity and interest rate derivative gains	39,037	$ 2,573
Interest Rate Contract [Member]
Derivative [Line Items]
Commodity and interest rate derivative gains	$ 110

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Impairment of unproved properties	$ 0	$ 0	$ 812,000
Impairment of proved oil and natural gas properties	$ 0	$ 0	$ 0

Leases (Details)

Leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee Lease Description [Line Items]
Rent expense	$ 869,000	$ 540,000	$ 435,000
Sublease income	$ 266,000
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease terms	2 years 2 months 12 days
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease terms	7 years 2 months 12 days

Leases - Schedule of Amounts an

Leases - Schedule of Amounts and Classifications of Estimated Right-of-use Assets, Net and Lease Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating leases:
Operating lease right-of-use asset	$ 5,679
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Long Term Assets
Operating Lease Right Of Use Asset Net, Total	$ 5,679
Operating leases:
Current operating lease liability	$ 1,563
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities Current
Non-current operating lease liability	$ 5,303
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Liabilities Noncurrent
Operating Lease, Liability, Total	$ 6,866

Leases - Schedule of Weighted-a

Leases - Schedule of Weighted-average Remaining Lease Terms and Discount Rates of Leases (Details)	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term in years	5 years 4 months 24 days
Weighted average discount rate	7%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments for Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2023	$ 1,563
2024	1,603
2025	1,517
2026	1,530
2027	1,109
Thereafter	875
Total lease payments	8,197
Less imputed interest	(1,331)
Total lease liabilities	$ 6,866

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 29, 2022	Jun. 07, 2022	Jun. 06, 2022
Income Tax Disclosure [Abstract]
Net deferred tax liability resulting from merger	$ 313,607,000			$ 316,600,000	$ 3,600,000	$ 0
Effective income tax rate (as a percent)		3%
Income tax expense	$ 5,681,000	$ 486,000	$ 22,000
Federal statutory tax rate	21%	21%	21%
Deferred tax assets						$ 0
Open tax year	2019 2020 2021 2022
Uncertain tax positions	$ 0

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current	$ 4,050,000	$ 486,000	$ 22,000
Deferred	1,631,000
Income tax expense (benefit)	$ 5,681,000	$ 486,000	$ 22,000

Income Taxes - Summary of Effec

Income Taxes - Summary of Effective Tax Rate on Pre-Tax Income Differs from Federal Statutory Rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ 189,812,000	$ 47,981,000	$ (14,192,000)
Less: (income) before income taxes attributable to predecessor	(78,745,000)	(47,981,000)	(14,192,000)
Less: income before taxes attributable to temporary equity	(91,224,000)
Less: loss before taxes attributable to noncontrolling interest	19,000
Income before tax attributable to stockholders	19,862,000
Income tax expense at Federal statutory rate	4,171,000
State taxes, net of federal benefit	1,707,000	486,000	22,000
Non-deductible transaction costs	452,000
Warranty liability adjustment	(769,000)
Other, net	120,000
Income tax expense (benefit)	$ 5,681,000	$ 486,000	$ 22,000

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 29, 2022	Jun. 07, 2022	Jun. 06, 2022
Deferred tax liabilities:
Investment in subsidiary	$ 313,607,000
Total deferred tax liabilities	313,607,000
Net deferred tax (liabilities)	$ (313,607,000)	$ (316,600,000)	$ (3,600,000)	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)		1 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2020
Chambers Minerals, LLC [Member]
Related Party Transaction [Line Items]
Acquisition percentage	84%	84%				84%
Business acquisition net book value from sale of assets	$ 60,600,000	$ 60,600,000
Excess of fair value of properties above net book value	37,500,000	37,500,000
Chambers Minerals, LLC [Member] | Unproved Oil And Gas Property [Member]
Related Party Transaction [Line Items]
Business acquisition net book value from sale of assets	45,300,000	45,300,000
Chambers Minerals, LLC [Member] | Proved Oil And Gas Property [Member]
Related Party Transaction [Line Items]
Business acquisition net book value from sale of assets	$ 15,300,000	$ 15,300,000
Kimmeridge [Member] | Chambers Minerals, LLC [Member]
Related Party Transaction [Line Items]
Royalty interest ownership percentage						2%
Kimmeridge Operations, LLC [Member]
Related Party Transaction [Line Items]
Due to related parties			$ 0	$ 142,000
Kimmeridge Operations, LLC [Member] | Chambers Minerals, LLC [Member]
Related Party Transaction [Line Items]
Management fees			3,200,000	7,500,000	$ 7,500,000
Land and administrative service charges			$ 74,000,000,000	$ 8,800,000	$ 4,200,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		12 Months Ended
	Feb. 03, 2023	Dec. 31, 2022	Mar. 08, 2023	Mar. 03, 2023	Nov. 30, 2022	Sep. 21, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Aggregate principal amount						$ 450,000,000
Dividends payable, description		On March 8, 2023, the Company declared a cash dividend of $0.60 per share of Class A Common Stock with respect to the fourth quarter of 2022. The dividend is payable on March 31, 2023 to the stockholders of record at the close of business on March 17, 2023.
Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Borrowing base		$ 300,000,000					$ 150,000,000
Maturity date		Jun. 05, 2026
Outstanding borrowings		$ 250,000,000					$ 134,000,000
Revolving Credit Facility [Member] | Third Credit Agreement [Member]
Subsequent Event [Line Items]
Maturity date description		The New Credit Agreement has a scheduled maturity date that is the earlier of June 2027 or 180 days prior to the maturity of any outstanding senior notes.
Minimum [Member]
Subsequent Event [Line Items]
Applicable margin		0.10%
Minimum [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Current ratio		1%
Minimum [Member] | Revolving Credit Facility [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Subsequent Event [Line Items]
Applicable margin		2.50%
Minimum [Member] | Revolving Credit Facility [Member] | Adjusted Base Rate Loans [Member]
Subsequent Event [Line Items]
Applicable margin		1.50%
Maximum [Member]
Subsequent Event [Line Items]
Applicable margin		0.25%
Maximum [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Total net funded debt to consolidated EBITDA		3.50%
Current ratio		1%
Maximum [Member] | Revolving Credit Facility [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Subsequent Event [Line Items]
Applicable margin		3.50%
Maximum [Member] | Revolving Credit Facility [Member] | Adjusted Base Rate Loans [Member]
Subsequent Event [Line Items]
Applicable margin		2.50%
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends amount per share			$ 0.60
Subsequent Event [Member] | Second Credit Agreement [Member]
Subsequent Event [Line Items]
Note purchase agreement date	Feb. 03, 2023
Subsequent Event [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member]
Subsequent Event [Line Items]
Aggregate principal amount	$ 1,500,000,000
Borrowing base	750,000,000
Elected commitment amount	750,000,000
Maximum aggregate amount of letters of credit to be issued	$ 15,000,000
Outstanding borrowings				$ 407,000,000
Subsequent Event [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member]
Subsequent Event [Line Items]
Applicable margin	0.375%
Current ratio	1%
Subsequent Event [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Subsequent Event [Line Items]
Applicable margin	2.50%
Subsequent Event [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member] | Adjusted Base Rate Loans [Member]
Subsequent Event [Line Items]
Applicable margin	1.50%
Subsequent Event [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member] | Credit Spread Adjustment [Member]
Subsequent Event [Line Items]
Applicable margin	0.10%
Subsequent Event [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member]
Subsequent Event [Line Items]
Applicable margin	0.50%
Total net funded debt to consolidated EBITDA	3.50%
Subsequent Event [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member] | SOFR Rate Loans and Letter of Credit Fees [Member]
Subsequent Event [Line Items]
Applicable margin	3.50%
Subsequent Event [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member] | Adjusted Base Rate Loans [Member]
Subsequent Event [Line Items]
Applicable margin	2.50%
Subsequent Event [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Third Credit Agreement [Member] | Credit Spread Adjustment [Member]
Subsequent Event [Line Items]
Applicable margin	0.25%
Class A Common Stock [Member]
Subsequent Event [Line Items]
Dividends amount per share					$ 0.72
Treasury shares acquired		633,005
Conversion rate		1.133

Supplemental Oil and Gas Info_3

Supplemental Oil and Gas Information - Schedule of Aggregate Capitalized Costs Related to Oil and Natural Gas Production Activities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Oil and natural gas interests:
Unproved	$ 3,244,436	$ 817,873
Proved	1,926,214	447,369
Total oil and natural gas interests	5,170,650	1,265,242
Accumulated depletion and impairment	(222,072)	(118,175)
Net oil and natural gas interests capitalized	$ 4,948,578	$ 1,147,067

Supplemental Oil and Gas Info_4

Supplemental Oil and Gas Information - Summary of Costs Incurred in Oil and Natural Gas Property Acquisition, Exploration and Development Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities [Line Items]
Unproved properties	$ 283,341	$ 20,192
Proved properties	274,228	18,278
Total	$ 557,569	$ 38,470

Supplemental Oil and Gas Info_5

Supplemental Oil and Gas Information - Summary of Revenues and Expenses Related to Production and Sale of Oil and Natural Gas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Results of Operations for Oil and Gas Producing Activities, by Geographic Area [Line Items]
Oil, natural gas and natural gas liquids revenues	$ 355,430	$ 118,548	$ 44,194
Severance and ad valorem taxes	(25,572)	(6,934)	(3,167)
Depletion	(103,898)	(40,318)	(31,440)
Impairment of oil and natural gas properties			(812)
Income tax expense	(5,681)	(486)	(22)
Results of operations from oil, natural gas and natural gas liquids	$ 220,279	$ 70,810	$ 8,753

Supplemental Oil and Gas Info_6

Supplemental Oil and Gas Information - Summary of Net Ownership Interest in Estimated Quantities of Proved Developed and Undeveloped Oil and Natural Gas Quantities and Changes (Details) MMcfe in Thousands, MMcf in Thousands, MMBoe in Thousands, MBoe in Thousands, MBbls in Thousands	12 Months Ended
	Dec. 31, 2022 MBbls	Dec. 31, 2022 MMcf	Dec. 31, 2022 MBoe	Dec. 31, 2022 MMBoe	Dec. 31, 2022 MMcfe	Dec. 31, 2021 MBbls	Dec. 31, 2021 MMcf	Dec. 31, 2021 MBoe	Dec. 31, 2021 MMBoe	Dec. 31, 2021 MMcfe	Dec. 31, 2020 MBbls	Dec. 31, 2020 MMcf	Dec. 31, 2020 MBoe	Dec. 31, 2020 MMBoe	Dec. 31, 2020 MMcfe
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning Balance	24,592					11,800					12,695
Ending Balance	79,989					24,592					11,800
Beginning Balance | MBoe			24,592					11,800					12,695
Revisions (Energy)			1,349	1,349				1,674	1,674				(1,178)	1,178
Extensions | MBoe			5,938					1,158					1,999
Acquisition of reserves | MBoe			53,660					12,511					628
Divestiture of reserves | MBoe													(234)
Production | MBoe			(5,550)					(2,551)					(2,110)
Ending Balance | MBoe			79,989					24,592					11,800
Oil [Member]
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning Balance	11,844					5,075					5,839
Revisions	(231)					180					(1,098)
Extensions	3,280					610					995
Acquisition of reserves	23,025					7,240					445
Divestiture of reserves											(173)
Production	2,861					1,261					933
Ending Balance	35,057					11,844					5,075
Acquisition of reserves | MBoe			23,025					7,240					445
Natural Gas [Member]
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning Balance | MMcf		46,343					23,402					24,493
Revisions | MMcf		2,926					6,531					(867)
Extensions | MMcf		8,986					1,991					3,486
Acquisition of reserves | MMcf		110,718					19,165					633
Divestiture of reserves | MMcf												(209)
Production | MMcf		9,531					4,746					4,134
Ending Balance | MMcf		159,442					46,343					23,402
Acquisition of reserves | MMcfe					110,718					19,165					633
Natural Gas Liquids [Member]
Proved Developed and Undeveloped Reserves [Roll Forward]
Beginning Balance	5,023					2,825					2,774
Revisions	1,093					405					65
Extensions	1,160					216					423
Acquisition of reserves	12,183					2,076					77
Divestiture of reserves											(26)
Production	1,100					499					488
Ending Balance	18,359					5,023					2,825
Acquisition of reserves | MBoe			12,183					2,076					77

Supplemental Oil and Gas Info_7

Supplemental Oil and Gas Information (Unaudited) - Summary of Net Ownership Interest in Estimated Quantities of Proved Developed and Undeveloped Oil and Natural Gas Quantities (Details) MMcf in Thousands, MBbls in Thousands	Dec. 31, 2022 MBbls MMcf	Dec. 31, 2021 MBbls MMcf	Dec. 31, 2020 MMcf MBbls	Dec. 31, 2019 MBbls MMcf
Reserve Quantities [Line Items]
Proved Developed Reserves (Volume)	64,824	20,494	9,334	9,903
Proved Undeveloped Reserve (Volume)	15,165	4,098	2,466	2,792
Balance	79,989	24,592	11,800	12,695
Oil [Member]
Reserve Quantities [Line Items]
Proved Developed Reserves (Volume)	27,407	9,285	3,731	4,223
Proved Undeveloped Reserve (Volume)	7,650	2,559	1,344	1,616
Balance	35,057	11,844	5,075	5,839
Natural Gas [Member]
Reserve Quantities [Line Items]
Proved Developed Reserves (Volume) | MMcf	133,489	40,747	19,505	20,293
Proved Undeveloped Reserve (Volume) | MMcf	25,953	5,596	3,897	4,200
Balance | MMcf	159,442	46,343	23,402	24,493
Natural Gas Liquids [Member]
Reserve Quantities [Line Items]
Proved Developed Reserves (Volume)	15,169	4,417	2,352	2,298
Proved Undeveloped Reserve (Volume)	3,190	606	473	476
Balance	18,359	5,023	2,825	2,774

Supplemental Oil and Gas Info_8

Supplemental Oil and Gas Information (Unaudited) (Details Textual) MMcfe in Thousands, MMcf in Thousands, MMBoe in Thousands, MBoe in Thousands, MBbls in Thousands	12 Months Ended
	Dec. 31, 2022 MMcfe Boe MBoe MBbls	Dec. 31, 2022 MMcfe Boe MBoe MMcf	Dec. 31, 2022 MMcfe MBoe Boe	Dec. 31, 2022 MMcfe Boe MMBoe MBoe	Dec. 31, 2022 MMcfe Boe MBoe	Dec. 31, 2022 MMcfe Boe MBoe $ / bbl	Dec. 31, 2022 MMcfe Boe MBoe $ / MMcf	Dec. 31, 2021 MBoe MMcfe MBbls	Dec. 31, 2021 MBoe MMcfe MMcf	Dec. 31, 2021 MBoe MMcfe	Dec. 31, 2021 MMcfe MMBoe MBoe	Dec. 31, 2021 MBoe MMcfe	Dec. 31, 2021 MBoe MMcfe $ / bbl	Dec. 31, 2021 MBoe MMcfe $ / MMcf	Dec. 31, 2020 MBoe MMcfe MBbls	Dec. 31, 2020 MBoe MMcfe MMcf	Dec. 31, 2020 MBoe MMcfe	Dec. 31, 2020 MMcfe MMBoe MBoe	Dec. 31, 2020 MMcfe MBoe
Reserve Quantities [Line Items]
Revisions (Energy)			1,349	1,349						1,674	1,674						(1,178)	1,178
Recovery (Energy) | MMBoe				831							1,184							887
Revisions due to increases in pricing | MMBoe				377							490							239
Acquisition of reserves			53,660							12,511							628
Oil [Member]
Reserve Quantities [Line Items]
Revisions | MBbls	(231)							180							(1,098)
Extensions | MBbls	3,280							610							995
Conversions production resources | MBbls	814							289							192
Proved undeveloped reserves	2,466	2,466	2,466	2,466	2,466	2,466	2,466	321	321	321	321	321	321	321	803	803	803	803	803
Acquisition of reserves			23,025							7,240							445
Divested of reserves																	173
Reserves | Boe	0.44	0.44	0.44	0.44	0.44	0.44	0.44
Percentage of crude oil pricing | $ / bbl						93.05							64.33
Natural Gas [Member]
Reserve Quantities [Line Items]
Revisions | MMcf		2,926							6,531							(867)
Extensions | MMcf		8,986							1,991							3,486
Conversions production resources | MMcf		1,748							883							672
Proved undeveloped reserves | MMcfe	7,238	7,238	7,238	7,238	7,238	7,238	7,238	1,108	1,108	1,108	1,108	1,108	1,108	1,108	2,814	2,814	2,814	2,814	2,814
Acquisition of reserves | MMcfe					110,718							19,165							633
Divested of reserves | MMcfe																			209
Reserves | Boe	0.33	0.33	0.33	0.33	0.33	0.33	0.33
Percentage of crude oil pricing | $ / MMcf							5.70							3.35
Natural Gas Liquids [Member]
Reserve Quantities [Line Items]
Revisions | MBbls	1,093							405							65
Extensions | MBbls	1,160							216							423
Conversions production resources | MBbls	224							96							81
Proved undeveloped reserves	936	936	936	936	936	936	936	120	120	120	120	120	120	120	342	342	342	342	342
Acquisition of reserves			12,183							2,076							77
Divested of reserves																	26
Reserves | Boe	0.23	0.23	0.23	0.23	0.23	0.23	0.23
Percentage of crude oil pricing | $ / bbl						34.97							30.14
Natural Gas Liquids [Member] | West Texas Intermediate [Member]
Reserve Quantities [Line Items]
Percentage of crude oil pricing | $ / bbl						37							45

Supplemental Oil and Gas Info_9

Supplemental Oil and Gas Information (Unaudited) - Schedule of Values of Proved Reserves Derived Based on Prices (Details)	12 Months Ended
	Dec. 31, 2022 $ / MMcf $ / bbl	Dec. 31, 2021 $ / bbl $ / MMcf
Oil [Member]
Reserve Quantities [Line Items]
Oil and Gas, Average Sale Price	93.05	64.33
Natural Gas [Member]
Reserve Quantities [Line Items]
Oil and Gas, Average Sale Price | $ / MMcf	5.70	3.35
Natural Gas Liquids [Member]
Reserve Quantities [Line Items]
Oil and Gas, Average Sale Price	34.97	30.14

Supplemental Oil and Gas Inf_10

Supplemental Oil and Gas Information (Unaudited) - Summary of Future Net Cash Flows Related to Proved Oil and Gas Reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Extractive Industries [Abstract]
Future oil and natural gas sales	$ 4,812,767	$ 1,068,652	$ 238,977
Future production costs	(404,982)	(90,137)	(19,379)
Future income tax expense	(438,049)	(5,302)	(1,236)
Future net cash flows	3,969,736	973,213	218,362
10% annual discount	(1,792,681)	(437,910)	(94,803)
Standardized measure of discounted future net cash flows	$ 2,177,055	$ 535,303	$ 123,559	$ 183,225

Supplemental Oil and Gas Inf_11

Supplemental Oil and Gas Information (Unaudited) - Summary of Future Net Cash Flows Related to Proved Oil and Gas Reserves (Parenthetical) (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Measurement Input, Discount Rate [Member]
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Line Items]
Alternative investment, measurement input	0.10	0.10	0.10

Supplemental Oil and Gas Inf_12

Supplemental Oil and Gas Information (Unaudited) - Schedule of Principal Changes in Standardized Measure of Discounted Future Net Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Roll Forward]
Standardized measure of discounted future net cash flows at the beginning of the period	$ 535,303	$ 123,559	$ 183,225
Net change in prices and production costs	250,889	119,993	(59,911)
Sales, net of production costs	(329,858)	(111,691)	(41,043)
Extensions and discoveries	234,973	29,853	25,196
Acquisitions of reserves	1,645,909	326,192	9,137
Divestiture of reserves			(3,563)
Revisions of previous quantity estimates	40,803	43,843	(18,140)
Net change in income taxes	(244,815)	(2,205)	343
Accretion of discount	53,820	12,426	18,427
Changes in timing and other	(9,969)	(6,667)	9,888
Standardized measure of discounted future net cash flows at the end of the period	$ 2,177,055	$ 535,303	$ 123,559