Texas Pacific Land (TPL) Company Report

Texas Pacific Land Corporation reported record financial results for full year 2025, including $498 million in free cash flow, an 8% year-over-year increase, and record operational milestones in oil and gas royalty production, water sales volumes, and produced water royalties.
The company announced a regular dividend of $0.60 per share, a 12.5% increase from the prior quarter, and maintains a debt-free balance sheet with $145 million cash and a $500 million undrawn credit facility.
TPL is advancing strategic initiatives, including a significant investment in Bolt Data & Energy for AI infrastructure and data centers in West Texas, and nearing completion of its 10,000 barrel per day R&D desalination facility in Orla, Texas.
For fiscal year 2026, anticipated capital expenditures are $65 million-$75 million, with $20 million specifically allocated to investigate waste heat capture and data center co-location potential for the desalination facility.

Feb 19, 2026, 3:30 PM

Transcript

Texas Pacific Land Corporation Reports Record Q4 and Full-Year 2025 Results, Advances Strategic Investments

TPL

Earnings

New Projects/Investments

Dividends

Texas Pacific Land Corporation (TPL) reported record consolidated revenues of approximately $212 million and Adjusted EBITDA of $178 million for Q4 2025, with a record $498 million in free cash flow for the full year 2025. The company also announced a regular dividend of $0.60 per share, representing a 12.5% increase.
TPL achieved quarterly records in Q4 2025 for oil and gas royalty production, water sales volumes (exceeding 1 million barrels per day for the first time), and produced water royalties, contributing to annual records across these operating milestones for the full year.
The company is advancing strategic initiatives in next-generation opportunities, including a strategic investment in Bolt Data & Energy for AI infrastructure and data centers, and nearing completion of its 10,000 barrel per day R&D desalination facility in Orla, Texas, with plans to invest $20 million in 2026 for co-location equipment to explore waste heat capture and data center cooling.
TPL maintains a debt-free balance sheet with $145 million in cash at year-end 2025 and an undrawn $500 million credit facility, providing substantial financial flexibility for future investments and shareholder returns.

Feb 19, 2026, 3:30 PM

Transcript

Texas Pacific Land Reports Record FY 2025 Results and Advances Strategic Initiatives

TPL

Earnings

New Projects/Investments

Dividends

Texas Pacific Land (TPL) reported record consolidated revenue, net income, and free cash flow for fiscal year 2025, with free cash flow increasing 8% year-over-year to approximately $498 million. Fourth quarter 2025 saw record oil and gas royalty production, water sales volumes (exceeding 1 million barrels per day), and produced water royalties.
The company made a strategic investment in Bolt Data & Energy, an AI infrastructure platform, and is advancing its 10,000 barrel per day R&D desalination facility in Orla, Texas, which is expected to begin operations in the coming months.
TPL announced a regular dividend of $0.60 per share, representing a 12.5% increase from the prior quarter, and anticipates $65 million-$75 million in capital expenditures for fiscal year 2026, including $20 million for waste heat capture and data center co-location at the desalination facility. The company maintains a debt-free balance sheet with $145 million cash and a $500 million undrawn credit facility.

Feb 19, 2026, 3:30 PM

Transcript

Texas Pacific Land Corporation Announces Record Q4 and Full Year 2025 Results, Increases Dividend

TPL

Earnings

Dividends

New Projects/Investments

Texas Pacific Land Corporation (TPL) achieved record fiscal year 2025 consolidated revenues of $798.2 million, net income of $481.4 million, and free cash flow of $498.3 million.
The company reported record quarterly oil and gas royalties production of 37.5 thousand Boe per day, water sales volumes of 1.0 million barrels per day, and produced water royalties volumes of 4.8 million barrels per day in Q4 2025.
TPL declared a 12.5% increase to its regular dividend, resulting in a quarterly cash dividend of $0.60 per share payable on March 16, 2026.
In Q4 2025, TPL acquired 17,306 net royalty acres for $450.7 million and invested $50.0 million in Bolt Data & Energy, Inc..
The company maintains a strong balance sheet with no debt and a cash balance of $145 million as of December 31, 2025, along with an undrawn $500 million revolving credit facility.

Feb 18, 2026, 9:17 PM

8-K

Texas Pacific Land Corporation Announces Q4 and Full Year 2025 Results

TPL

Earnings

Dividends

New Projects/Investments

Texas Pacific Land Corporation achieved record fiscal year 2025 consolidated revenues of $798.2 million, net income of $481.4 million, and free cash flow of $498.3 million.
For the fourth quarter of 2025, the company reported net income of $123.3 million (or $1.79 per diluted share) and total revenues of $211.6 million.
The Board of Directors declared a quarterly cash dividend of $0.60 per share, representing a 12.5% increase from the prior quarter's regular dividend.
During the fourth quarter of 2025, TPL acquired 17,306 net royalty acres for $450.7 million and effected a three-for-one stock split on December 22, 2025.

Feb 18, 2026, 9:15 PM

Press Release

TPL announces strategic agreement with Bolt Data & Energy for data center development

TPL

New Projects/Investments

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.