Texas Pacific Ld Stock Price, News & Analysis

Texas Pacific Land Corporation (NYSE: TPL) announced its plans to release first quarter 2023 financial results after market close on May 3, 2023. A conference call will follow the next day at 8:30 a.m. Eastern Time. Investors can access the webcast on the company's website, allowing them to register 15 minutes before the call. The conference call will also have a playback option available until May 18, 2023. Texas Pacific Land is a major landowner in Texas, with approximately 874,000 acres primarily in the Permian Basin. The company does not produce oil and gas but generates revenue through land use agreements, royalty interests, and various utility easements.

Texas Pacific Land Corporation (NYSE: TPL) has secured a long-term agreement with bpx energy, a subsidiary of BP (NYSE: BP), to provide water services and surface access across approximately 270,000 acres in Culberson, Loving, and Reeves Counties, Texas. This partnership will yield dedicated brackish and treated water sales for TPL, while bpx will gain assured access for oil and gas development. The agreement aims to enhance production in the Delaware Basin for bpx and generate increased revenue streams for TPL. Executives from both companies expressed optimism about the strategic alignment and potential growth opportunities.

Texas Pacific Land Corporation (NYSE: TPL) reported strong financial results for Q4 and full year 2022. The company achieved a net income of $99.7 million for Q4, translating to $12.95 per share, with total revenues of $152.7 million. For the full year, net income reached $446.4 million, or $57.80 per share, on revenues of $667.4 million. TPL's royalty production remained steady at 21.3 thousand barrels of oil equivalent per day. The company also approved a new stock repurchase program worth $250 million and declared a quarterly dividend of $3.25 per share, payable on March 15, 2023. The earnings reflect TPL's robust asset management and strategic growth initiatives.

Texas Pacific Land Corporation (NYSE: TPL) announced on February 10, 2023, that its Board of Directors declared a quarterly cash dividend of $3.25 per share. This dividend is payable on March 15, 2023, to stockholders of record as of March 8, 2023. As one of the largest landowners in Texas, TPL holds approximately 874,000 acres of land, primarily in the Permian Basin, generating revenue through land use payments, royalties from oil and gas, and commercial leases. The company's diverse revenue streams highlight its strong position in the market.

Ozona CCS LLC has entered an agreement with Texas Pacific Land Corporation (NYSE: TPL) to lease approximately 5,173 acres in the Permian Basin for a groundbreaking carbon dioxide (CO₂) sequestration well. This project aims to capture and sequester CO₂, targeting an initial injection rate of up to 25,000 barrels per day and a total capacity of at least 40 million metric tons. The in-service date is projected for Q3 2024. The partnership signifies a commitment to sustainability and resource management, supporting long-term carbon capture projects in the region.