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Forestar Group Inc. operates as a real estate and natural resources company. The company operates in three segments: Real Estate, Mineral Resources, and Fiber Resources. The Real Estate segment secures entitlements and develops infrastructure, primarily for single-family residential and mixed-use communities. It also sells commercial tracts that are ready for construction of buildings for retail, office, industrial, or other commercial uses; residential lots primarily to homebuilders; and undeveloped land to commercial developers, as well as operates income producing properties, such as multifamily properties and a hotel. This segment owns, directly or through ventures, approximately 136,000 acres of real estate located in 10 states and 14 markets in the United States; has 15 real estate projects representing approximately 26,070 acres in the entitlement process, as well as 74 entitled, developed, or under development projects in 7 states and 11 markets encompassing approximately 14,400 acres comprising approximately 23,800 residential lots and 2,400 commercial acres. The Mineral Resources segment manages and leases its oil, natural gas, and water interests to third parties for the exploration and production of oil and natural gas. It manages approximately 752,000 net acres of oil and natural gas mineral interests, including 590,000 net acres through fee ownership and 162,000 net acres through leasehold interests in 8 oil and natural gas basins and 14 states in the continental United States. This segment also has water interests in approximately 1.5 million acres. The Fiber Resources segment sells wood fiber from portions of its land primarily in Georgia; and leases land for recreational uses. This segment, directly or through ventures, owns approximately 121,000 acres of timber; and has approximately 17,000 acres of timber under lease. The company is headquartered in Austin, Texas.