Texas Pacific Ld Stock Price, News & Analysis

Texas Pacific Land (TPL) reported strong Q3 2024 financial results, with consolidated net income of $106.6 million ($4.63 per share) and Adjusted EBITDA of $144.1 million. The company achieved record royalty production of 28.3 thousand Boe per day. TPL completed two significant acquisitions: mineral interests across 4,106 net royalty acres in the Delaware Basin for $120.3 million and approximately 4,120 surface acres in the Midland Basin for $45.0 million. The Board declared a quarterly dividend of $1.60 per share, representing a 37% increase. Total revenues reached $173.6 million, driven by increases in oil and gas royalty revenue and produced water royalties.

Texas Pacific Land (NYSE: TPL) has announced the dates for its third quarter 2024 earnings release and conference call. The company will release its financial results after the market closes on Wednesday, November 6, 2024. A conference call will be held on Thursday, November 7, 2024, at 8:30 a.m. Eastern Time.

Investors can access a webcast of the conference call on the company's website at www.texaspacific.com. To participate in the telephone conference call, dial 1-877-407-4018 (domestic) or 1-201-689-8471 (international) at least 15 minutes prior to the start time. A playback of the call will be available until Thursday, November 21, 2024, using the pass code 13745174.

Texas Pacific Land (NYSE: TPL) has announced the acquisition of Permian oil and gas mineral and royalty interests for $286 million in cash. The acquisition spans approximately 7,490 net royalty acres (NRA), primarily in the Midland Basin, with over 80% adjacent to or overlapping existing TPL surface and royalty acreage. The assets have a current production of about 1,300 barrels of oil equivalent per day (78% liquids).

Key points:

• Exxon Mobil and Diamondback Energy operate approximately 66% of the acreage
• Twelve rigs currently running on the footprint
• Expected to generate a double-digit cash flow yield in the next twelve months
• Over half of the Drilling and Spacing Units have development, offering growth potential
• Acquisition aims to enhance TPL's free cash flow per share and increase shareholder return of capital

Texas Pacific Land (NYSE: TPL) has announced the closing of two acquisitions in the Permian Basin for $169 million in cash. The acquisitions include:

1. Mineral interests across 4,106 net royalty acres in Culberson County, Texas, overlapping existing TPL royalty acreage and surface acreage.

2. Surface asset spanning 4,120 acres in Martin County, Texas, generating revenue from water supply, produced water disposal, and other surface-related activities.

The combined asset purchase price implies a >13% 2025 free cash flow yield at current strip prices. TPL expects these high-quality assets to immediately contribute to free cash flow and provide substantial incremental value to their legacy asset base.

Texas Pacific Land (NYSE: TPL) announced its Q2 2024 financial and operating results. Highlights include record performance from the Water Service and Operations segment, with water sales revenue of $40.7M, produced water royalties of $25.3M, and total segment revenues of $68.3M. Net income was $114.6M, or $4.98 per share, on consolidated revenues of $172.3M. The company also declared a special cash dividend of $10.00 per share, which was paid on July 15, 2024, and a quarterly cash dividend of $1.17 per share, payable on September 17, 2024.

For the six months ended June 30, 2024, TPL reported net income of $229.0M, consolidated revenues of $346.5M, and record water segment revenues of $131.0M. Additionally, the company implemented a new energy-efficient water desalination method and completed a three-for-one stock split effective March 26, 2024. TPL aims to maintain a cash balance of $700M and deploy excess cash for share repurchases and dividends.

Texas Pacific Land (NYSE: TPL) has announced its schedule for the release of second quarter 2024 financial results. The company will disclose its earnings after market close on Wednesday, August 7, 2024, followed by a conference call on Thursday, August 8, 2024, at 8:30 a.m. Eastern Time. Investors can access the webcast through the company's website, www.texaspacific.com, in the Investors section. For those participating via telephone, dial-in numbers are provided for both domestic and international callers. A playback option will be available until August 22, 2024, with separate numbers for domestic and international access.

Texas Pacific Land (TPL) announced a $10 per share special dividend, payable on July 15, 2024, to stockholders of record by July 1, 2024.

This special dividend represents the largest in TPL's history, marking a 50% increase from the most recent prior split-adjusted dividend. TPL's CEO Tyler Glover emphasized the company's strong balance sheet and strategic capital allocation, including a targeted cash balance of $700 million. Excess cash will be directed towards share repurchases and additional dividends.

TPL owns approximately 868,000 acres in West Texas, primarily in the Permian Basin, generating various revenues from land use, royalty interests, and infrastructure projects.

Texas Pacific Land (NYSE: TPL) announced impressive first quarter 2024 results with net income of $114.4 million, record water segment revenues of $62.7 million, and a three-for-one stock split. The company is developing an energy-efficient water desalination method and progressing towards a larger test facility. Revenue growth from water sales, produced water royalties, and easements showcased a 19% increase. TPL's strategic investments position it well to capture revenues from oil and gas development. Financially, total revenues were $174.1 million, operating expenses increased slightly, and a quarterly cash dividend was declared.