Texas Pacific Land (TPL) Company Report

Texas Pacific Land Corporation (TPL) announced a strategic agreement with Bolt Data & Energy, Inc. (Bolt) on December 17, 2025, to develop and enable large-scale data center campuses and supporting infrastructure across TPL's land in West Texas.
As part of the agreement, Bolt raised $150 million of capital, with TPL investing $50 million. TPL will receive an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects.
Bolt, co-founded by Eric Schmidt, former CEO and Chairman of Google, aims to leverage West Texas's energy production and TPL's approximately 882,000 acres of land to create a significant concentration of AI compute infrastructure.

Dec 17, 2025, 12:15 PM

8-K

Texas Pacific Land Announces Strategic Agreement with Bolt Data & Energy for Data Center Development

TPL

New Projects/Investments

Texas Pacific Land Corporation (TPL) has entered into a strategic agreement with Bolt Data & Energy, Inc. to develop large-scale data center campuses and supporting infrastructure across TPL land in West Texas.
Bolt is a data and energy infrastructure company co-founded by Eric Schmidt, former CEO and Chairman of Google, who also serves as Bolt's Chairman.
As part of the agreement, TPL invested $50 million into Bolt, receiving an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects.
The partnership aims to leverage West Texas's abundant energy production, skilled workforce, and TPL's nearly one million acres of land to establish the region as a significant hub for AI compute infrastructure.

Dec 17, 2025, 12:00 PM

Press Release

Texas Pacific Land: Oil Prices Decline Amid Supply Rise and Geopolitical Uncertainty, Impacting Energy Stocks

TPL

Demand Weakening

Oil prices, with Brent around $62.5–$62.9/bbl and U.S. WTI near $58.9–$59.2/bbl, slipped on December 8, 2025, influenced by Ukraine peace talks, potential U.S. Federal Reserve rate cuts, and increased supply.
The restoration of production at Iraq’s West Qurna 2, adding approximately 460,000 barrels per day, along with signs of rising OPEC+ and non-OPEC supply, contributed to the downward pressure on oil prices.
Analysts anticipate oil futures to trend towards $60/bbl through 2026 due to persistent rising supply, potential sanctions circumvention, and geopolitical uncertainty.
Texas Pacific Land Corp (TPL) was among several energy companies experiencing declines of 2.3% to 3.1% on the day.

Dec 8, 2025, 2:23 AM

WSJ

Texas Pacific Land Corporation Reports Record Q3 2025 Results and Announces Stock Split

TPL

Earnings

M&A

New Projects/Investments

Texas Pacific Land Corporation achieved a record third quarter in 2025, with consolidated total revenue exceeding $200 million for the first time at $203 million, and consolidated Adjusted EBITDA of $174 million.
The company reported record operational volumes, including oil and gas royalty production of approximately 36,300 barrels of oil equivalent per day, a 28% increase year-over-year, and record water sales of $45 million, representing 23% growth year-over-year.
TPL announced the acquisition of approximately 17,300 net royalty acres for $474 million, funded by cash on its balance sheet, and 8,100 surface acres in Martin County, Texas.
The board approved a three-for-one stock split of the company's common stock, expected to be completed in December 2025.
At quarter-end, TPL maintained a strong financial position with $532 million of cash and cash equivalents and no debt, having also closed on an undrawn $500 million credit facility to support future growth opportunities.

Nov 6, 2025, 3:30 PM

Transcript

Texas Pacific Land Corporation Reports Record Q3 2025 Results, Announces Acquisitions and Stock Split

TPL

Earnings

M&A

Revenue Acceleration/Inflection

Texas Pacific Land Corporation (TPL) achieved a record quarter for Q3 2025, with consolidated total revenue reaching $203 million and consolidated adjusted EBITDA at $174 million.
Oil and gas royalty production hit a record of approximately 36,300 barrels of oil equivalent per day, representing a 28% increase year-over-year, while water sales were a record $45 million, showing 74% sequential growth.
The company announced significant acquisitions, including approximately 17,300 net royalty acres for $474 million on November 3, 2025, and 8,100 surface acres in September 2025.
TPL's board approved a three-for-one stock split of its common stock, expected to be completed in December 2025.
As of quarter-end, TPL maintained a strong financial position with $532 million in cash and cash equivalents and no debt, complemented by an undrawn $500 million credit facility.

Nov 6, 2025, 3:30 PM

Transcript

Texas Pacific Land Corporation Reports Record Q3 2025 Results, Announces Acquisitions and Stock Split

TPL

Earnings

M&A

New Projects/Investments

Texas Pacific Land Corporation (TPL) reported a record third quarter 2025, with consolidated total revenue of $203 million and adjusted EBITDA of $174 million.
Operational highlights include record oil and gas royalty production of approximately 36,300 barrels of oil equivalent per day and record water sales of $45 million.
The company announced the acquisition of approximately 17,300 net royalty acres for $474 million on November 3, 2025, and 8,100 surface acres in September.
TPL's board approved a three-for-one stock split of its common stock, expected to be completed in December 2025.
The company maintains a strong financial position with $532 million in cash and cash equivalents and no debt as of quarter-end, and recently closed on a $500 million undrawn credit facility.

Nov 6, 2025, 3:30 PM

Transcript

Texas Pacific Land Corporation Announces Strong Q3 2025 Results, Strategic Acquisitions, and Stock Split

TPL

Earnings

M&A

Dividends

Texas Pacific Land Corporation reported consolidated net income of $121.2 million, or $5.27 per diluted share, and total revenues of $203.1 million for the third quarter of 2025, including record quarterly revenues and net income from its Water Services and Operations segment.
The company executed a purchase agreement for approximately 17,306 net royalty acres and acquired 8,147 surface acres in September 2025 for a combined aggregate purchase price of $505 million in all-cash transactions, with the royalty acquisition closing on November 3, 2025.
TPL's Board of Directors approved a three-for-one stock split of its common stock on November 3, 2025, which is expected to be completed in December 2025.
A new $500 million revolving credit facility was completed on October 23, 2025, remaining undrawn as of November 5, 2025, and a quarterly cash dividend of $1.60 per share was declared on November 3, 2025.

Nov 5, 2025, 9:17 PM

8-K

TPL Completes Inaugural $500 Million Credit Facility

TPL

Debt Issuance

New Projects/Investments

Texas Pacific Land Corporation (TPL) completed a new $500 million revolving credit facility on October 23, 2025, which was substantially oversubscribed by twelve financial institutions.
The facility bears interest at SOFR plus 2.25% to 2.50%, based on TPL's debt-to-EBITDA leverage ratio, and includes a $250 million accordion option.
The Credit Facility matures on October 23, 2029, and was undrawn at close, with proceeds designated for capital expenditures, working capital, acquisitions, and general business purposes.
TPL must maintain a consolidated interest coverage ratio of not less than 3.0 to 1.0 and a consolidated total leverage ratio of not greater than 3.50 to 1.0 at the end of each fiscal quarter.

Oct 27, 2025, 8:41 PM

8-K

Texas Pacific Land Corp Announces Record Q1 2025 Results

TPL

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Financial Performance: The company reported consolidated revenue of $196 million, adjusted EBITDA of $169 million with an 86.4% margin, and free cash flow of $127 million in Q1 2025.
Operational Highlights: Oil and gas royalty production averaged 31,100 barrels per day (a 25% year-over-year increase) while water segment revenue reached $69 million, and near-term well inventory hit a record 24.3 net wells.
Strong Balance Sheet & Strategic Initiatives: With a net cash position of $460 million and 0 debt as of March 31, the firm is well-positioned to benefit from pipeline projects, easement renewal escalators, and further development opportunities.

May 8, 2025, 2:31 PM

Transcript

Texas Pacific Land Corp Announces Q1 2025 Results

TPL

Earnings

Dividends

Revenue Acceleration/Inflection

Q1 2025 highlights include a record oil and gas royalty production of 31.1 thousand Boe/day, record Water Services revenue of $69.4 million, and a consolidated net income of $120.7 million (diluted EPS of $5.24 per share).
Sequential improvements saw total revenues rise from $185.8 million in Q4 2024 to $196.0 million in Q1 2025, with Adjusted EBITDA of $169.4 million and free cash flow of $126.6 million; an earnings call is scheduled for May 8, 2025.