Texas Pacific Land Corporation (TPL)

Texas Pacific Land Corporation Announces Agreement to Provide Land and Water Solutions to Chevron for a Large-Scale Power ProjectJune 23, 2026 9:33 AM
Business Wire Texas Pacific Land Corporation (NYSE: TPL) (“TPL”) today announced an agreement with Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX) ( “Chevron”) to provide land and brackish water resources for Chevron’s recently announced development known as Project Kilby, involving a large-scale power generation facility Chevron is developing to support a customer data center in Reeves County, Texas. As part of the agreement, TPL contributed surface acreage in exchange for cash consideration and the exclusive right to source aquifer-derived water for the power generation facility and other associated aspects of the project. “This advancement of giga-watt scale power generation and data centers developed by the industry’s leading technology, energy, and industrial companies validates West Texas as a premier location for compute infrastructure,” said Ty Glover, CEO of TPL. “As the world’s largest supplier of conventional energy and a leading source of renewable energy, the Permian Basin combines critical resources with skilled talent and a supportive regulatory environment. We believe these virtues position the region to become a major hub for compute services, and TPL is well positioned to support that growth through our leading surface footprint, industry relationships, and access to energy and water resources.” Chevron has emphasized that water stewardship and community engagement are central considerations as the project advances. TPL intends to supply brackish groundwater, helping reduce demand for shared freshwater resources and reinforcing its ongoing commitment to responsible water development in the Permian Basin. TPL also continues to advance solutions for reuse of desalinated produced water from oil and gas operations. “This project demonstrates how large-scale energy infrastructure can be developed responsibly in West Texas to meet the increasing demands for power and technology,” said Daniel Droog, Vice President, Power Solutions of Chevron. “By securing access to land and reliable sources for non-potable brackish water supply, engaging openly with the community, and working closely with trusted long-term value chain partners such as TPL we aim to support economic growth while respecting the importance of water stewardship in West Texas.” About Texas Pacific Land Texas Pacific Land Corporation is one of the largest landowners in the State of Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provides revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities. Visit TPL at http://www.TexasPacific.com. This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, statements regarding TPL’s business strategy, plans and objectives. TPL believes that the expectations reflected in these “forward-looking statements” are reasonable, they are inherently uncertain and involve a number of risks and uncertainties beyond TPL’s control. In addition, assumptions may prove to be inaccurate. Actual results may differ materially from those anticipated or implied in “forward-looking statements” as a result of a variety of factors. These “forward-looking statements” speak only as of the date made, and other than as required by law, TPL undertakes no obligation to update or revise any “forward-looking statement” or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260623633484/en/ IR@TexasPacific.com Original: Texas Pacific Land Corporation Announces Agreement to Provide Land and Water Solutions to Chevron for a Large-Scale Power Project

TPL Announces the Appointment of Peter Doyle to the BoardMay 6, 2026 4:10 PM
Business Wire Texas Pacific Land Corporation (NYSE: TPL) (“TPL” or the “Company”) and the Company’s Board of Directors (“Board”) announced today that Peter Doyle has been appointed to the Board. Mr. Doyle is Co-Founder and Co-Chief Executive Officer of Horizon Kinetics Holding Corporation (OTC: HKHC), which, through various owned subsidiaries, is TPL’s largest shareholder. He is a senior member of the Horizon Kinetics research team and a member of its investment committee and its board of directors. Mr. Doyle is also the President of Kinetics Mutual Funds, Inc., a series of investment companies managed by the Horizon Kinetics, and is a Co-Portfolio Manager for several other registered investment companies, private funds, and separately managed accounts. Mr. Doyle was also appointed to serve on the strategic acquisitions committee of the Board. Mr. Doyle will stand for re-election at the 2026 Annual Meeting. Ty Glover, CEO of TPL, said, “I have known Peter for many years as he has long been an engaged and active shareholder on behalf of Horizon Kinetics. Peter understands our business and industry well, and I look forward to his continued engagement and support of the Company now as a director. He will bring excellent expertise and perspective into our boardroom.” Peter Doyle stated, “This is a bittersweet privilege on the heels of Murray Stahl’s sudden passing. I fully intend on preserving Murray’s legacy and advocating on behalf of Horizon Kinetics and all shareholders, and I will endeavor as the newest director to serve the Board with the utmost dedication and ability. TPL has long been, and will continue to be, a major holding across our investment funds and vehicles, and we remain of the steadfast belief that TPL’s best days are ahead.” About Texas Pacific Land Corporation Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 881,000 acres of land, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provides revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities. Visit TPL at http://www.TexasPacific.com. Cautionary Statement Regarding Forward-Looking Statements Certain statements in this news release are, and certain statements made on the related conference call may be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on TPL’s beliefs, as well as assumptions made by, and information currently available to, TPL, and therefore involve risks and uncertainties that are difficult to predict. Generally, future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and the words “believe,” “anticipate,” “continue,” “intend,” “expect,” and similar expressions or the negative of such terms identify forward-looking statements. Forward-looking statements include, but are not limited to, references to strategies, plans, objectives, expectations, intentions, assumptions, future operations, and prospects; statements regarding anticipated benefits of recent acquisitions or the Permian Basin’s future drilling inventory and energy resources; and other statements that are not historical facts. You should not place undue reliance on forward-looking statements. Although TPL believes that plans, intentions and expectations reflected in or suggested by any forward-looking statements made herein are reasonable, TPL may be unable to achieve such plans, intentions or expectations and actual results, and performance or achievements may differ materially from those set forth in the forward-looking statements due to a number of factors, including, but not limited to: the initiation or outcome of potential litigation; any changes in general economic and/or industry specific conditions; and the other risks discussed in TPL’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. You can access TPL’s filings with the SEC through the SEC’s website at www.sec.gov and TPL strongly encourages you to do so. These forward-looking statements are based only on information available to TPL and speak only as of the date hereof. Except as required by applicable law, TPL undertakes no obligation to update any forward-looking statements or other statements herein for revisions or changes after this communication is made. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506999088/en/ Investor Relations
IR@TexasPacific.com Original: TPL Announces the Appointment of Peter Doyle to the Board

Texas Pacific Land Corporation Sets Dates for First Quarter 2026 Earnings Release and Conference CallApril 15, 2026 4:15 PM
Business Wire
Texas Pacific Land Corporation (NYSE: TPL) (the “Company”) announced today that the Company will release first quarter 2026 financial results after the market closes on Wednesday, May 6, 2026. A conference call will be held on Thursday, May 7, 2026 at 10:30 a.m. Eastern Time.


Webcast:

A webcast of the conference call will be available on the Investors section of the Company’s website at www.texaspacific.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software.


To Participate in the Telephone Conference Call:

Dial in at least 15 minutes prior to start time:

Domestic: 1-877-407-4018

International: 1-201-689-8471


Conference Call Playback:

Domestic: 1-844-512-2921

International: 1-412-317-6671

Pass code: 13759098

The playback can be accessed through Thursday, May 21, 2026.


About Texas Pacific Land Corporation


Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 882,000 acres of land, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provides revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities.


Visit TPL at texaspacific.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260415262251/en/
Investor Relations

IR@texaspacific.com


Original: Texas Pacific Land Corporation Sets Dates for First Quarter 2026 Earnings Release and Conference Call

TPL Announces the Passing of Murray StahlApril 9, 2026 1:12 PM
Business Wire
Texas Pacific Land Corporation (NYSE: TPL) (“TPL” or the “Company”) and the Company’s Board of Directors (“Board”) announced today that Murray Stahl, a member of TPL’s Board, has passed away. Mr. Stahl was the Chief Executive Officer, Chairman of the Board and Chief Investment Strategist of Horizon Kinetics Holding Corporation, which, through various owned subsidiaries, is TPL’s largest shareholder.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260409425965/en/Murray Stahl
Ty Glover, CEO of TPL, said, “Murray was a tremendous advocate for TPL from the very day I joined the Company. His firm, Horizon Kinetics, along with its predecessors, had been TPL’s largest shareholder for many decades. Murray believed in the Company when it was still a thinly-traded, little-known trust that simply owned some land in west Texas. Today, TPL stands as one of the largest publicly-traded energy companies in the world—a transformation that seemed inconceivable to almost everyone just a decade ago. Everyone, that is, except Murray. He was a true independent thinker and a visionary who saw what others could not. I am saddened by his sudden passing, and I will miss his presence in the boardroom and outside of it. On behalf of the entire Company, I offer our condolences to Murray’s family.”


Rhys Best, Chairman of the Board of TPL, stated, “We will be forever grateful to Murray for his dedication and contribution to TPL. It has been a privilege for me and the other Board members to work alongside Murray. He will be greatly missed.”


Texas Pacific Land Corporation


Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 882,000 acres of land, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provides revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities.


Visit TPL at http://www.TexasPacific.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260409425965/en/
Investor Relations

IR@TexasPacific.com


Original: TPL Announces the Passing of Murray Stahl

Google ex-CEO Eric Schmidt jumps into the AI data center business with a failed, 150-year-old Texas railroad turned oil giant (1/02/26)

https://fortune.com/2026/01/02/eric-schmidt-ai-data-centers-bolt-texas-pacific-land-tpl/

Proxy fight in Spring might see Stahl replaced at TPL and Horizon?

Texas Pacific Land Corporation Announces Effective Date of Previously Announced Three-for-One Stock Split (12/02/25)

DALLAS--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (the “Company”) today announced that its Board of Directors has finalized the effective date of the previously announced three-for-one stock split. The record date for the three-for-one stock split is December 12, 2025, and the stock split will be effective and shares will be distributed on December 22, 2025. Trading of the Company’s common stock will begin on a stock-split adjusted basis on December 23, 2025.

About Texas Pacific Land Corporation

Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 882,000 acres of land, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provides revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities.

Visit TPL at http://www.TexasPacific.com.

https://www.businesswire.com/news/home/20251202587261/en/Texas-Pacific-Land-Corporation-Announces-Effective-Date-of-Previously-Announced-Three-for-One-Stock-Split

Freehold Royalties Takes Texas Pacific Land To The Cleaners (11/28/25) [An Opposing View]

https://seekingalpha.com/article/4848583-freehold-royalties-takes-texas-pacific-land-to-the-cleaners

Texas Pacific Land started Overweight at KeyBanc, as well positioned for market opportunities (12/02/25)

Texas Pacific Land (TPL) +0.6% in Tuesday's trading as KeyBanc initiates coverage with an Overweight rating and $1,050 price target, saying the company is emerging from its multi-decade run as a sleepy public entity amid growing marketplace appreciation for the optionality and organic growth potential embedded in its vast west Texas footprint.

"In a literal sense, TPL sits at the crossroads of traditional oil and gas activity and the imminent data center and power gen buildout occurring in West Texas and collects oil and gas, water or surface royalties from much of the activity occurring in the region," KeyBanc's Tim Rezvan said, adding the company has been actively developing "next gen opportunities" exposed but not limited to the oil and gas and power industries such as a desalination plant to test technology that can treat produced water for irrigation and beneficial reuse.

Texas Pacific (TPL) is using its large surface footprint to try to attract data centers, which would bring with it the need to build infrastructure for power and water needs, and is investigating revenue opportunities for carbon capture, bitcoin mining, hydrogen, sand mines and other areas, and the company's scale puts it in or near almost any land-related opportunity in the Permian Basin, Rezvan wrote.

Texas Pacific's (TPL) $20 billion market cap, pristine balance sheet, 137-year history in Texas, 882,000 surface acre footprint, and status as an S&P 500 constituent are all favorable advantages in the competitive west Texas landscape, the analyst said.

https://www.msn.com/en-us/money/markets/texas-pacific-land-started-overweight-at-keybanc-as-well-positioned-for-market-opportunities/ar-AA1RAdH8?ocid=BingNewsVerp

So, I was going to buy some TPL this week, however it has confirmed a breakdown of the support line. I don't know what's going on within the company, but someone is dumping shares apparently.
Not seeing any insider selling since August.

IS TPL a buy here? All signs point to "maybe"

I've been teetering on the edge with $TPL for weeks. It has ridden the 200 day, but today it broke above the 50 DMA. If history is an indicator, this should have a bit of upside. The risk of waiting sometimes sucks. Does it go back to $1400's or higher?

Finally a nice move up! $1020.55 101.50 (11.04%) 👍

TPL needs to get above $1050 again to confirm a breakout, but if you wanted to trade this between the moving averages, it sure wouldn't be that hard.

$TPL "Water Powered Car in 1974:

- Goes 70 MPH
- Travels over 1000 miles on one tank
- Releases zero pollution" We have been lied to, suppressed and conned by rich globalist money hungry elites.

Water Powered Car in 1974:

- Goes 70 MPH
- Travels over 1000 miles on one tank
- Releases zero pollution

We could be driving water-powered cars but the forces that manipulate humanity would… pic.twitter.com/L9TdRbsK78— MAVERICK X (@MAVERIC68078049) August 10, 2025

If You Invested $100 In This Stock 10 Years Ago, You Would Have This Much Today (6/27/25)

BENZINGA

Texas Pacific Land (TPL) has outperformed the market over the past 10 years by 40.24% on an annualized basis producing an average annual return of 51.72%. Currently, Texas Pacific Land (TPL) has a market capitalization of $24.26 billion.

Buying $100 In TPL: If an investor had bought $100 of TPL stock 10 years ago, it would be worth $6,451.34 today based on a price of $1055.44 for TPL at the time of writing.

That's not what the chart is saying

Investing.com -- Texas Capital on Thursday upgraded Texas Pacific Land (NYSE:https://www.investing.com/equities/texas-pacific-land-trust) Corp to Buy and raised its price target to $1,280 saying it has a growing confidence in the landowner’s push into data centers, power projects, and water infrastructure in the Permian Basin.The brokerage said it expects Texas Pacific to de-risk its desalination project and make progress on at least one power or data center venture by the end of the year, marking a potential inflection point for the stock. 

The shares have lagged behind peers in recent months despite what Texas Capital described as a stronger outlook for TPL’s so-called “next-gen” businesses.Texas Pacific, one of the largest landholders in Texas, has been exploring ways to monetize its extensive acreage through infrastructure partnerships and energy transition-linked developments. 

The company could also play a key role in industry consolidation, with larger ranches in the Permian expected to come to market over the next few years, the note said.Texas Capital analysts hosted the company’s top executives, including CEO Tyler Glover and CFO Chris Steddum, for investor meetings in Boston on June 23.Shares of Texas Pacific Land Corp were trading marginally up 1,038.11 on early trading on Thursday, down about 7% year-to-date.
https://www.investing.com/news/stock-market-news/texas-capital-upgrades-texas-pacific-land-on-data-center-energy-transition-bets-4112885

To be fair, almost every time I've been to Durant it was under a tornado watch or warning.

I have and will continue to do so.

Over the past several years, it has probably been a waste of my time.

Too many iHubbers are just like those glued to slot machines Sunday night at Choctaw Durant while the NWS had issued tornado warnings and watches in Oklahoma and North Texas.

I use it mostly to save information for my own use. If someone responds or reaches out, I will reply.

Actually, its mostly about penny stock scams. With gambling and long shots you have a chance to win.
I often wonder if this is a microcosm of the planet and most people are this desperate and stupid? Or do only the poor and desperate come here?
A few times in my life, in the real world I've heard people recommend some of these scams, then get mad when I tell them.
Lottery tickets and penny stocks are for people who failed to plan ahead.

IHUB is mostly about stock gambling. Playing dumb longshots.

Check again.

bar1080

Re: Enterprising Investor post# 279

Monday, August 27, 2018 10:52:57 AM

Post#
281
of 1549
I went to law school almost that long ago. Rusty on many things especially trusts. TPL is quite interesting. I've been vaguely aware of it for many years.

Looks like I first noticed this in 2016, but waited until 2018 to get in....

fung_derf

Member Level
Re: Enterprising Investor post# 69

Wednesday, June 01, 2016 5:47:30 PM

Post#
70
of 1547
Looks interesting here
Just my opinion, of course.

Not a good entry date apparently....

fung_derf

Member Level
Re: None

Wednesday, November 14, 2018 9:50:55 AM

Post#
329
of 1547
What the heck is going on here? I've waited over a year to buy in here, the day I do, good news comes out and the stock tanks! I'm down $100 per share in 8 days!

Well, it's true that most people on IHUB wouldn't know a real stock if it bit them on the foot, why don't you start boards for the good stocks? Pretty disingenuous to mention them years later.
Perhaps you would convert some people to buying good stocks.

"TPL is up 2,195.14% to date for me since 3/12/15 with dividends reinvested." I just checked back and it looks like I started following TPL around 2020. Amazing how much posting existed on this board back then. I usually assume anything that's hot on IHUB is rubbish. My biggest winners, like CTAS, usually have zero IHUB following.

TPL is up 2,195.14% to date for me since 3/12/15 with dividends reinvested.
BRK-B, which I also own, is up 397.48% since 2/14/13.
Both companies have moved down but building cash and cash equivalents. At some point, buybacks will increase.

TPL has broken support now.

I can't tell if you are being facetious or not.
I have a huge gain here, but it has broken support last week.
The weird thing about this stock though is it does the unexpected.
I wish I had bought it in my IRA

Repeat: "I never bought TPL in the first place because it always looked ludicrously shilled to me. Too many rabid pumpers on this board." To me that's often a red flag.

Notice how many TPL fans left at about the same time?

I’m out, at a huge, huge, huge loss. The trend is down in an otherwise up market. The toxic water report is going to have an effect and the big funds know it. Maybe in ten years they’ll sort it out and I’ll jump back in at $50 a share. Until then, TPL is doomed to fall. Get out while you can is my warning to all.

This stock has always had wild swings. Support is currently at $1146, so it hasn't broken its trend yet.

This stock has doubled in the last 12 months.
Perhaps you are just very poor at reading a chart.

Huge dumperooski for this crap-ass stock. TPL is a dead end, and at any moment a single institution could decide to sell off. I bought in like an idiot at 1700, watched it fall to 1100 and rebound to 1400 so many times it ain't funny. There is very little general interest, as it seems most people prefer the sexy stocks like Nvdia, and debt-to-income ratio be damned. When this dips below 1000 I will basically be out more than I have ever been on any single stock that I was sure could double. Instead, it halved.

Is this the cause for the drop from 1400 to 1200 this past week? Absolutely nothing else has changed in the world.

Well, this isn't great

Texas warns biggest US oil field at risk from toxic water leaks:
Texas regulators are warning that wastewater from fracking in the biggest US oil basin is causing a “widespread” increase in underground pressure -- a development that risks hindering crude output and harming the environment. Shale oil wells in the Permian Basin generate millions of gallons of chemical-laced water, which drillers then pump back into the earth. Landowners and activists have said for years that this process causes toxic leaks. Now the state’s powerful oil and gas regulator, the Railroad Commission of Texas, is acknowledging the scale of the problem and imposing restrictions that could increase crude production costs. Restrictions on both deep and shallow injection zones could mean producers will have to pump their wastewater farther afield, increase recycling or pay to clean it up. All of these options would add to costs in the Permian, which accounts for about half of America's total crude production. Source: Bloomberg

This has had some wild swings, but I quit trying to guess and am just holding. It has a while before the support line catches up to it though.

Texas Pacific Land Corporation Announces First Quarter Results (5/07/25)

Earnings Call to be Held Thursday, May 8, 2025 at 9:30 am CT

DALLAS--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (the “Company,” “TPL,” “we,” “our” or “us”), one of the largest landowners in the State of Texas with surface and royalty ownership that provide revenue opportunities through the support of energy production, today announced its financial and operating results for the first quarter of 2025.

First Quarter 2025 Highlights

Oil and gas royalty production of 31.1 thousand barrels of oil equivalent (“Boe”) per day, a Company record

As of March 31, 2025, TPL’s royalty acreage had an estimated 5.9 net well permits, 12.9 net drilled but uncompleted wells ("DUCs"), and 5.4 net completed but not producing wells ("CUPs"). Net well permits, DUCs, and CUPs total 24.3 net wells(1), which represents a Company record. TPL had 90.2 net producing wells, and net producing wells added during the quarter had an average lateral length of approximately 8,988 feet.

Water Services and Operations segment revenues of $69.4 million, a Company record

Consolidated net income of $120.7 million, or $5.24 per share (diluted)

Adjusted EBITDA(2) of $169.4 million

Free cash flow(2) of $126.6 million

Quarterly cash dividend of $1.60 per share was paid on March 17, 2025
(1)

Total may not foot due to rounding.
(2)

Reconciliations of non-GAAP performance measures are provided in the tables below.
“Results for the first quarter of 2025 represented an excellent start to the year as the Company set quarterly records for oil and gas royalty production and Water Services and Operations segment revenue," said Tyler Glover, Chief Executive Officer of the Company. “TPL's resilient business model, high-margin cash flows, and fortress balance sheet enhances the Company's ability to weather a potential industry downcycle. Near-term activity levels remain strong around our footprint, but should economic volatility persist, our business retains numerous naturally embedded hedges to mitigate the potential direct impact of lower oil prices. In addition, TPL’s exceptional financial profile and strong liquidity with ample cash and no debt also allows us to be opportunistic during periods of uncertainty.”

Financial Results for the First Quarter of 2025 - Sequential

The Company reported net income of $120.7 million for the first quarter of 2025 compared to net income of $118.4 million for the fourth quarter of 2024.

Total revenues for the first quarter of 2025 were $196.0 million compared to $185.8 million for the fourth quarter of 2024. The increase in total revenues was primarily due to a $14.3 million increase in oil and gas royalty revenue and a $2.1 million increase in water sales compared to the fourth quarter of 2024. The Company’s share of production was 31.1 thousand Boe per day for the first quarter of 2025 versus 29.1 thousand Boe per day for the fourth quarter of 2024, and the average realized price was $41.58 per Boe in the first quarter of 2025 compared to $37.93 per Boe in the fourth quarter of 2024.

TPL’s revenue streams are directly impacted by commodity prices and development and operating decisions made by its customers.

Total operating expenses were $45.9 million for the first quarter of 2025 compared to $43.2 million for the fourth quarter of 2024. The increase in operating expenses was principally related to a $1.8 million increase in water service-related expenses during the first quarter of 2025 compared to the fourth quarter of 2024.

Financial Results for the First Quarter of 2025 - Year Over Year

Total revenues for the first quarter of 2025 were $196.0 million compared to $174.1 million for the first quarter of 2024. The increase in total revenues was primarily due to a $19.1 million increase in oil and gas royalty revenue and a $4.7 million increase in produced water royalties. The Company’s share of production was 31.1 thousand Boe per day for the first quarter of 2025 versus 24.8 thousand Boe per day for the first quarter of 2024, and the average realized price was $41.58 per Boe for the first quarter of 2025 versus $42.71 per Boe for the first quarter of 2024. Produced water royalties increased principally due to an increase in produced water volumes. TPL’s revenue streams are directly impacted by commodity prices and development and operating decisions made by its customers.

Total operating expenses were $45.9 million for the first quarter of 2025 compared to $38.1 million for the first quarter of 2024. The increase in operating expenses was principally related to a $6.8 million increase in depletion expense associated with oil and gas royalty interests acquired during the second half of 2024.

Quarterly Dividend Declared

On May 6, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $1.60 per share, payable on June 16, 2025 to stockholders of record at the close of business on June 2, 2025.

Conference Call and Webcast Information

The Company will hold a conference call on Thursday, May 8, 2025 at 9:30 a.m. Central Time to discuss first quarter results. A live webcast of the conference call will be available on the Investors section of the Company’s website at www.TexasPacific.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software.

The conference call can also be accessed by dialing 1-877-407-4018 or 1-201-689-8471. The telephone replay can be accessed by dialing 1-844-512-2921 or 1-412-317-6671 and providing the conference ID# 13753234. The telephone replay will be available starting shortly after the call through May 22, 2025.

About Texas Pacific Land Corporation

Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 873,000 acres of land, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership provide revenue opportunities throughout the life cycle of a well. These revenue opportunities include fixed fee payments for use of the Company’s land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from the Company’s oil and gas royalty interests, and revenue related to saltwater disposal on the Company’s land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses including, but not limited to, midstream infrastructure projects and hydrocarbon processing facilities.

Visit TPL at www.TexasPacific.com.

https://www.businesswire.com/news/home/20250507740663/en/Texas-Pacific-Land-Corporation-Announces-First-Quarter-Results

[financials deleted]

At the risk of being thought of as a "rabid pumper" the following is hereby posted.

Texas Pacific Land Corporation Sets Dates for First Quarter 2025 Earnings Release and Conference Call

April 15 2025 - 4:15PM
Business Wire

Texas Pacific Land Corporation (NYSE: TPL) (the “Company”) announced today that the Company will release first quarter 2025 financial results after the market closes on Wednesday, May 7, 2025. A conference call will be held on Thursday, May 8, 2025 at 10:30 a.m. Eastern Time.

Webcast:
A webcast of the conference call will be available on the Investors section of the Company’s website at www.texaspacific.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register and install any necessary audio software.

To Participate in the Telephone Conference Call:
Dial in at least 15 minutes prior to start time:
Domestic: 1-877-407-4018
International: 1-201-689-8471

Conference Call Playback:
Domestic: 1-844-512-2921
International: 1-412-317-6671
Pass code: 13753234
The playback can be accessed through Thursday, May 22, 2025.

Source:
https://www.businesswire.com/news/home/20250415970163/en/

Marker:
TPL
$1,298.64 21.06 (1.65%)
Volume: 104,157

**This is not a Buy or Sell recommendation.

I guess he means you. Have you been tested for rabies lately?

Too many rabid pumpers?

LOL.....surely you're not serious? You think people are pumping a $1000+ stock?

I never bought TPL in the first place because it always looked ludicrously shilled to me. Too many rabid pumpers on this board.

I sold 2/3rds of my shares at $1738 as it looked like the pullback was coming. $1285 is a support level and I may just add back a third today.
I watch Landman for the daughter.

Wow. I called that wrong. Nothing but dump city since the uplisting.
Not worried in the long term. Index buying will carry this back up to $2k eventually.
Meanwhile, I will content myself with watching Landman -- the Texas oil patch melodrama with Billy Bob Thornton.

$TRV has been a great stock. Too bad I never bought any. However, you putting down the growth stocks as individual buys is wrong. When I sold my last house, rather than haggle over the measly $10 or $20k more I might get, I sold on Open Door, I put the sales money into AMZN, MSFT, AAPL, NFLX and I think the other was ...well I can't think of it now....anyway, within 4 months, I was able to pay cash for my much bigger house on the Country Club course.
There is not just one way to make money in the market. You just need to understand it.
Nothing wrong with slow and steady, but it is the hot short term markets that often times make for those crazy total returns. This year has been a classic example in how to make money in most everything. Of course......there's inflation and taxes ....
My overall portfolio is up over 30% this year! That's just crazy when you're dealing with large numbers

"I always hated when people said that investing is gambling." IHUBers don't like the brilliant advice I give which is to invest in the dullest, most boring stocks. Never individual tech or hot start ups. Few issues are more boing than an S&P 500 index fund. Then check back every few years. Buffett's said the same.

Opinions will vary, but few sectors are more boring than insurance. You don't see the newbies on RobinHood buying insurance stocks but such stocks have done great and made boring old Buffett a billionaire. Currently I own BRK and TRV, both fabulous winners. For long term tech exposure my kids own QQQ.

I don't put a cent in a machine guaranteed to beat me badly.

I invest; I don't bet. No slots for me. Ever.

Hmmmmm, a bit tempted to buy back some shares now that it's down $100 from where I sold it.
They are paying a dividend on 12/2....maybe I should wait until Ex Div?

I think Buffett has always wanted to help the average person when it comes to investing. Using a low-cost index fund is cheaper than paying a broker an asset management fee.

This is one of my very large pet peeves. The government is pushing for using management fee over transaction fee based accounts. So these so called "CFP's" like Fisher Investments tout they make money when you do....This is stupid and merely an advertising effort. Recently I called them (and now can't get them to leave me alone). I asked them what I get for a half million....Basically, nothing special at all. In fact they will probably underperform.
The government wants to do away with brokerages and single stock buying. They want everyone in an ETF based on an index. It would be so much easier for them to control the market in this way.....In the meantime, companies like Fisher want to charge me 1%+ on my entire portfolio, even though the muni bonds would just be sitting there until maturity.
With the government pushing for management fee, this came with the caveat that they want to see MORE trading, so that brokerages aren't just parking the money and forgetting it. The very opposite strategy of what intelligent investors have been doing for decades.
In my opinion, for my mutual fund money, I can buy an index, which HAS to buy certain stocks AND sell these stocks if they are removed from the index, but not until.....or I can pay American Funds to typically outperform the index with a much lower Beta and fees almost as low.....but they can make decisions.....just as I can with my individual stocks.
I' m at an advantage to most, I have time to follow the market every day, and I have some common sense left. I also diversify