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Texas Pacific Land Corporation and Aris Water Solutions, Inc. Announce Expansion of Alliance
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DALLAS & HOUSTON--(BUSINESS WIRE)--
Texas Pacific Land Corporation (NYSE: TPL) (“TPL”) and Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris”, “Aris Water”) announced today an expansion of their ongoing alliance supporting full-cycle water solutions for customers operating in the Permian Basin. This enhanced alliance allows TPL and Aris to coordinate service to customers more efficiently across the core of the Delaware Basin, spanning Loving, Reeves, and Culberson Counties, Texas, while optimizing utilization of their combined asset portfolio. As part of the expanded relationship, Aris will have access across TPL’s Northern Delaware surface acreage to provide a full suite of produced water services, including incremental water recycling for two leading large-cap customers operating on TPL royalty and surface acreage. In addition, Aris will receive key additional shallow interval water handling locations.
“We are pleased to further develop our long-standing and productive relationship with Aris, a premier water infrastructure and solutions provider for upstream operators across the Delaware Basin,” said Tyler Glover, CEO of TPL. Having Aris develop additional strategic infrastructure on TPL’s surface acreage will further expand and enhance our ability to serve operators and customers. By working with Aris, we will drive more water volumes onto TPL’s surface acreage and facilitate further operator development on our oil and gas royalty acreage.”
“TPL is one of the largest landowners in the State of Texas and the Permian Basin,” said Amanda Brock, CEO of Aris Water Solutions. “We have enjoyed a long, productive relationship, combining Aris’s infrastructure expertise with TPL’s leading surface acreage position to promote efficient development and improve water sustainability. Our expanded relationship further aligns us and will help us continue to provide critical water management solutions to operators in the Permian Basin. Today more than ever, customers need water take away and supply assurances, and our expanded relationship with TPL, which now includes recycling and access to additional shallow handling facility permits, will provide us with the optionality we need to efficiently grow our infrastructure and capabilities in key locations.”
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation (NYSE: TPL) is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. The Company is not an oil and gas producer, but its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. The Company also generates revenue from pipeline, power line and utility easements, commercial leases, and seismic and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
About Aris Water Solutions, Inc.
Aris Water Solutions, Inc. (NYSE: ARIS) is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin. Additional information is available on our website, www.ariswater.com.
texas pacific land trust was created in 1888 as a result of a reorganization of the texas and pacific railway company following receivership. holders of texas and pacific railway company bonds received 3.5 million acres of land in texas which had been earned by the railroad and pledged as security against bonds. the bondholders created the trust and converted bonds to shares of proprietary interest in the trust. the trust was created to manage and sell the land. today the trust is one of the largest landowners in texas with around 888,333 acres located in eighteen different counties. texas pacific land trust derives revenue from all avenues of managing the land, i.e. oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales. the trust has a perpetual oil and gas royalty interest in some 459,200 acres.
