CKX Lands is a small Louisiana land company that earns income from oil and gas royalties, timber sales, and surface payments on its landholdings in southwest Louisiana. CKX leases its land and mineral rights to third-party oil and gas operators and collects royalties based on production — CKX does not explore for or produce oil and gas itself. CKX holds royalty interests in 20 producing oil and gas fields, with royalty rates ranging from 0.0045% to 7.62% depending on ownership share. CKX also actively manages and harvests timber on its lands, selling stumpage through competitive bids, and earns recurring surface income from farming, hunting, and commercial leases, as well as non-recurring payments for pipeline rights-of-way. The business is largely passive, requiring minimal operational effort, and CKX runs with only two part-time employees. Oil and gas income is subject to commodity price volatility and production depletion risk, timber income fluctuates with stumpage prices and harvest cycles, and surface income is the most stable of the three. CKX's customer base is concentrated, with roughly 64% of revenue coming from eight customers. Since mid-2023, CKX has been evaluating strategic alternatives including a potential sale of the company or its assets, and in November 2025, CKX sold approximately 6,548 acres to Southern Pine Plantations of Georgia for roughly $8.6M in cash as part of that process.