Texas Pacific Land's quarterly revenue rises on higher royalties

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Texas Pacific Land Corporation

TPL

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- Texas Pacific Land TPL.N reported a rise in first-quarter revenue on Wednesday, helped by higher oil and gas royalties as production volumes increased.

The company generates revenue from fixed fees for land use, oil and gas royalty interests, construction material sales and water sourcing and treatment services.

  • Texas Pacific's total first-quarter revenue stood at $236.8 million, compared with $196 million a year earlier.

  • The company completed a land sale during the quarter linked to a large-scale data center, which resulted in $20.9 million in land sale revenue.

  • Oil and gas royalties revenue was $118.2 million for the quarter, compared with $111.2 million a year earlier.

  • The company said its share of production for the quarter was 37,100 barrels of oil equivalent per day, up from 31,100 barrels of oil equivalent per day a year earlier.

  • The average realized price for each barrel of oil equivalent fell to $37.06 a barrel during the quarter, from $41.58 per barrel a year earlier, primarily due to lower natural gas prices.

  • The Permian-focused land and royalty company posted a quarterly adjusted core profit of $181.4 million, compared with analysts' expectations of $204.5 million, according to data compiled by LSEG.

  • As of December 2025, it counted energy giants including Chevron CVX.N, Occidental Petroleum OXY.N and ConocoPhillips COP.N among its customers.