Texas Pacific Land Corporation
- Branche
- Energy Infrastructure
- Börse
- USA
- Land / Region
- USA
- Börsengang
- 31. Dezember 1987
- Mitarbeiter
- 114
- Website
- www.texaspacific.com
Zusammengesetzter Bewertungsbereich · konservativ $90–$140 / fair $160–$240 / optimistisch $260–$340. Bei $396.62, Über der optimistischen Obergrenze · künftiges Wachstum vorweggenommen.
Bei Veröffentlichung $406.09 (28. Mai 2026)
Daten von EODHD, dargestellt in der Berichtswährung; nur zu Informationszwecken, keine Anlageberatung.
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The Land and Resource Management segment manages surface acres of land, and oil and gas royalty interest in Permian Basin. This segment also engages in easements, such as transporting oil, gas and related hydrocarbons, power line and utility, and subsurface wellbore easements. In addition, this segment leases its land for processing, storage, and compression facilities and roads; and is involved in sale of materials, such as caliche, sand, and other material, as well as sells land. The Water Services and Operations segment provides full-service water offerings, including water sourcing, produced-water treatment, infrastructure development, and disposal solutions to operators in the Permian Basin. This segment also holds produced water royalties. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 33,000 additional net royalty acres, total of approximately 224,000 NRA located in the Permian Basin. The company was founded in 1888 and is headquartered in Dallas, Texas.
Geschichte
Texas Pacific Land Corporation was founded in 1888, when it acquired its core West Texas land and royalty interests through an 1888 Declaration of Trust; because no fair value was assigned at acquisition, these legacy assets remain carried at zero value on the balance sheet, and as of the end of 2025 the legacy assigned royalty interests still included a 1/16 NPRI over 185,369 NRA and a 1/128 NPRI over 5,308 NRA. The company is headquartered in Dallas, Texas, and went public on December 31, 1987. Its business is organized into two segments, Land and Resource Management and Water Services and Operations, built on surface rights, perpetual oil and gas royalty interests, easements, leases, and water infrastructure rights in the Permian Basin. By the end of 2025 the company held roughly 882,000 surface acres and approximately 224,000 net royalty acres of oil and gas royalty interests, with the underlying NPRI structure comprising a 1/128 interest under about 85,000 acres, a 1/16 interest under about 371,000 acres, and roughly 33,000 additional net royalty acres. Revenue grew from $451 million in 2021 to $798 million in 2025, with 2025 net income of $481 million and company-reported free cash flow of $498 million. In 2025 the company shifted toward more active capital deployment, completing about $454 million of royalty interest acquisitions, including a roughly $450.7 million cash purchase of 17,306 NRA in November 2025, investing $50 million in Bolt Data & Energy, and establishing a $500 million revolving credit facility that remained undrawn through the first quarter of 2026; in the first quarter of 2026 it also completed a $42.5 million land transaction tied to a large data center and gas-fired power project. The company has 114 employees.
Branchenposition
Texas Pacific Land Corporation operates as a land and royalty platform concentrated in the Permian Basin rather than as a driller, earning revenue from oil and gas royalties, water sales, produced-water royalties, easements and other surface-related income, and occasional land sales. In 2025 oil and gas royalty revenue was $412 million while the Water Services and Operations segment generated $307 million, about 38% of total revenue, alongside $170 million of water sales, $124 million of produced-water royalties, and $91.775 million of easements and other surface-related income from the same underlying land. The company has stated in its 10-K that its Land and Resource Management business has few direct peers, and that its roughly 882,000 surface acres give it scale that neighboring landowners rarely match; for water, it has noted that owning both large surface acreage and associated rights lets it offer water sourcing and rights of way that competitors must typically assemble separately from multiple landowners. The royalty model requires no capital expenditure or operating expense burden from the company for well development, supporting a 2025 operating margin of about 74% on $592 million of operating income. Customer concentration is high, with roughly 40% of 2025 revenue coming from three investment-grade customers, reflecting the limited universe of large Permian operators around its assets. The company identifies its water market as highly competitive, and royalty comparables in the sector include Viper Energy, Black Stone Minerals, Kimbell Royalty Partners, and Dorchester Minerals.
Noch keine Analysen zu dieser Aktie in Ihrer Sprache.