Texas Pacific Land Corp

Texas Pacific Land Corporation is a Delaware Corporation and one of the largest landowners in Texas, primarily in the Permian Basin. The company owns approximately 882,000 surface acres of land. Additionally, it holds various nonparticipating perpetual oil and gas royalty interests (NPRI), including a 1/128th NPRI under approximately 85,000 acres and a 1/16th NPRI under approximately 371,000 acres. The company also owns approximately 33,000 additional net royalty acres (normalized to 1/8th), totaling approximately 224,000 net royalty acres, also concentrated in the Permian Basin. Originally organized as Texas Pacific Land Trust on February 1, 1888, the entity transitioned into Texas Pacific Land Corporation on January 11, 2021. The company's revenue opportunities stem from its surface and royalty ownership, benefiting from the oil and gas development value chain without being an oil and gas producer. During the initial development phase, the company receives fixed fee payments for land use and revenue from selling materials like caliche for infrastructure construction. In the drilling and completion phase, revenue is generated from providing sourced water and/or treated produced water, fixed fee payments for land use, and the sale of sand to operators.