Texas Pacific Land Corporation reports developments tied to its Texas surface and royalty ownership, with most activity concentrated in the Permian Basin. The company is not an oil and gas producer; its land and royalty position generates revenue from well-life-cycle uses, including fixed-fee land access, oil and gas royalty interests, caliche sales, sourced water and treated produced water, saltwater disposal, easements, commercial leases and temporary permits.
TPL news commonly covers quarterly results, segment performance in Land and Resource Management and Water Services and Operations, cash dividends, land sales, infrastructure and utility arrangements, data-center-related land and water projects, shareholder events and board governance changes.
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.
Texas Pacific Land Corporation (NYSE: TPL) will announce its fourth quarter and full year 2022 financial results on February 22, 2023, post-market. A conference call for investors will occur on February 23, 2023 at 7:30 a.m. CT. TPL, owning approximately 880,000 acres in West Texas, primarily in the Permian Basin, generates revenue not only from oil and gas-related activities but also from various land uses such as easements, commercial leases, and materials sales. The financial results and insights will be crucial for stakeholders monitoring TPL's growth and operational effectiveness.
Texas Pacific Land Corporation (NYSE: TPL) has announced the further adjournment of its 2022 annual meeting of stockholders, originally set for February 14, 2023, now rescheduled to May 18, 2023. This decision allows the Delaware Court of Chancery to rule on a dispute regarding voting commitments with Horizon Kinetics and related entities, with a trial scheduled for April 17, 2023. The company advises stockholders not to attend the February meeting, which will be adjourned immediately. The record date remains September 22, 2022, with a revised notice to be sent to stockholders in due course.
Texas Pacific Land Corporation (NYSE: TPL) reported significant financial growth in its Q3 2022 results, with a net income of $129.8 million ($16.83 per share), up 54.9% year-over-year. Total revenues reached $191.1 million, driven by a $51.2 million increase in oil and gas royalties. The company also initiated a stock repurchase program, committing $250 million for future buybacks. Furthermore, TPL declared a quarterly dividend of $3.00 per share, reflecting strong cash flow and operational performance in the Permian Basin.
Texas Pacific Land Corporation (NYSE: TPL) will release its third quarter 2022 financial results after the market closes on November 2, 2022. A conference call for investors will be held on November 3, 2022, at 8:30 a.m. ET. Interested parties can join the call by dialing 1-877-407-4018 domestically or 1-201-689-8471 internationally. A replay will be available until November 17, 2022. As one of Texas's largest landowners with approximately 880,000 acres in the Permian Basin, TPL generates revenue through various land-use agreements.
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Mawson Infrastructure Group (NASDAQ:MIGI) reported strong Q2 2022 financial results with revenue of $19.8 million, a 236% increase from Q2 2021. Non-GAAP EBITDA surged 756% to $13.7 million. The company produced 490 self-mined Bitcoin, up 286% year-over-year. Gross profit remained flat at $5.4 million. Mawson is expanding its mining facilities, including a 230-megawatt expansion in Georgia and a 120-megawatt Texas facility in partnership with Texas Pacific Land Corporation (NASDAQ: TPL), enhancing its operational capacity substantially.
Texas Pacific Land Corporation (TPL) reported strong financial results for Q2 2022, with a net income of $118.9 million ($15.37 per share), a substantial increase of 108.4% year-over-year. Revenues reached $176.3 million, driven by a $63.1 million rise in oil and gas royalties. Average realized price per barrel was $70.36, up from $40.83 in Q2 2021. Year-to-date, net income was $216.8 million and dividends amounted to $201.0 million. The company also expanded its ventures into bitcoin mining and carbon sequestration.
Texas Pacific Land Corporation (NYSE: TPL) will announce its financial results for the second quarter of 2022 on August 3, 2022, after market close. A conference call is scheduled for August 4, 2022, at 8:30 a.m. ET. Investors can access the live broadcast via the company's website and participate in the call using designated phone numbers. TPL holds approximately 880,000 acres of land in Texas, primarily in the Permian Basin, generating revenue through various channels related to oil and gas development, land usage fees, and utility easements.
Texas Pacific Land Corporation (NYSE: TPL) has signed a Letter of Intent with Milestone Carbon for evaluating geological characteristics of 21,000 acres in the Permian Basin for CO2 sequestration. Milestone Carbon specializes in carbon capture technology aimed at reducing industrial emissions. This collaboration aligns with TPL's commitment to sustainability and enhancing shareholder value through innovative land use. TPL has been recognized as a top performer in ESG initiatives, ranking #1 in the U.S. Oil and Gas Producers Industry by Sustainalytics.