Texas Pacific Land Corp. TPL

What this company does

Texas Pacific Land Corporation is not an oil and gas producer; instead it earns revenue throughout the oil and gas development value chain, receiving fixed fee payments for use of its land and revenue from material sales during infrastructure construction, revenue from sourced and treated produced water and sand sales during drilling and completion, and revenue from its oil and gas royalty interests and saltwater disposal during production. It owns approximately 882,000 surface acres of land, principally concentrated in the Permian Basin, and holds oil and gas royalty interests including a 1/128th nonparticipating perpetual royalty interest under approximately 85,000 acres, a 1/16th interest under approximately 371,000 acres, and approximately 33,000 additional net royalty acres, for a collective total of approximately 224,000 net royalty acres. Approximately 40% of its 2025 revenue was derived from only three customers. As of December 31, 2025, it had 114 full-time employees, of which 35 were employees of TPWR. The company operates its business in two reportable segments, Land and Resource Management and Water Services and Operations. The company was originally organized as Texas Pacific Land Trust under a Declaration of Trust dated February 1, 1888, to receive and hold title to tracts of land in Texas previously the property of the Texas and Pacific Railway Company, and on January 11, 2021, the Trust completed its reorganization into Texas Pacific Land Corporation, a corporation formed under the laws of the State of Delaware.

Written from the business description in Texas Pacific Land Corporation's annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.