Texas Pacific Land (NYSE: TPL) sets Bolt data center campus plan

Rhea-AI Filing Summary

Texas Pacific Land Corporation announced a strategic agreement with Bolt Data & Energy, Inc. to develop and enable large-scale data center campuses and supporting infrastructure on Company-owned property. This positions the Company’s land to host major data center developments rather than just traditional uses.

The Company also disclosed that Horizon Kinetics Asset Management LLC, a subsidiary of Horizon Kinetics Holding Corporation, intends to make a significant equity investment in Bolt through affiliated funds. Because Murray Stahl is both a director of the Company and the Chief Executive Officer, Chairman and Chief Investment Officer of Horizon Kinetics Asset Management, the Company and its Audit Committee reviewed the proposed investment and took steps to alleviate potential conflicts of interest.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 17, 2025

Texas Pacific Land Corporation

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-39804	75-0279735
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
2699 Howell Street, Suite 800
Dallas, Texas		75204
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 214-969-5530

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		TPL		New York Stock Exchange NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 7.01 Regulation FD Disclosure.

On December 17, 2025, Texas Pacific Land Corporation (the “Company”) issued a press release announcing a strategic agreement with Bolt Data & Energy, Inc. (“Bolt”) to develop and enable large-scale data center campuses and supporting infrastructure across Company-owned property. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The Company has been informed that Horizon Kinetics Asset Management LLC (“HKAM”), a wholly owned subsidiary of Horizon Kinetics Holding Corporation, intends to make a significant equity investment in Bolt through various affiliated funds. Murray Stahl, a director of the Company, is also the Chief Executive Officer, Chairman and Chief Investment Officer of HKAM. The Company and the Audit Committee of the Company’s Board of Directors have reviewed HKAM’s proposed investment in Bolt and, along with HKAM, have taken steps to alleviate any potential conflicts of interest that could arise from such investment.

The information included in this Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press release dated December 17, 2025 (furnished pursuant to Item 7.01).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Texas Pacific Land Corporation
Date:    December 17, 2025	By:	/s/ Micheal W. Dobbs
	Name:	Micheal W. Dobbs
	Title:	SVP, General Counsel and Secretary

FAQ

What strategic agreement did Texas Pacific Land (TPL) announce with Bolt Data & Energy?

Texas Pacific Land Corporation announced a strategic agreement with Bolt Data & Energy, Inc. to develop and enable large-scale data center campuses and supporting infrastructure across Company-owned property.

How will Texas Pacific Land's property be used under the Bolt agreement?

Under the agreement, Texas Pacific Land intends to use its Company-owned property for large-scale data center campuses and related supporting infrastructure, rather than solely for traditional land uses.

What role does Horizon Kinetics Asset Management play in the Bolt relationship for TPL?

Horizon Kinetics Asset Management LLC, a wholly owned subsidiary of Horizon Kinetics Holding Corporation, has informed the Company that it intends to make a significant equity investment in Bolt through various affiliated funds.

Why is there a potential conflict of interest mentioned in TPL's agreement with Bolt?

A potential conflict of interest arises because Murray Stahl is both a director of Texas Pacific Land Corporation and the Chief Executive Officer, Chairman and Chief Investment Officer of Horizon Kinetics Asset Management, which plans to invest significantly in Bolt.

How did Texas Pacific Land address potential conflicts related to Horizon Kinetics and Bolt?

The Company stated that Texas Pacific Land, its Audit Committee, and Horizon Kinetics Asset Management have reviewed the proposed investment in Bolt and have taken steps to alleviate any potential conflicts of interest that could arise.

When did Texas Pacific Land announce its strategic agreement with Bolt?

The Company issued a press release on December 17, 2025 announcing its strategic agreement with Bolt Data & Energy, Inc..