Welcome to our dedicated page for Texas Pacific Land Corporation news (Ticker: TPL), a resource for investors and traders seeking the latest updates and insights on Texas Pacific Land Corporation stock.
Texas Pacific Land Corporation (TPL) is one of the largest landowners in Texas, holding approximately 888,333 acres across eighteen counties. Established in 1888 as a result of the Texas and Pacific Railway Company's reorganization, TPL has evolved to manage and monetize its vast landholdings through various means, including oil and gas royalties, grazing leases, easements, specialty leases, and land sales.
Texas Pacific Land Corporation operates through two primary business segments: Land and Resource Management and Water Services and Operations. The Land and Resource Management segment is dedicated to managing the company's perpetual oil and gas royalty interests, which cover around 459,200 acres, and the surface acres of land. This segment is the main revenue generator for the corporation.
The Water Services and Operations segment provides a comprehensive range of water services to operators, including produced-water treatment, infrastructure development, and disposal solutions. This segment aims to support the increasing demand for water management solutions in the energy sector.
Recently, Texas Pacific Land Corporation has focused on enhancing its revenue streams through strategic partnerships and the development of new projects within its land and resource management and water services segments. The company's financial condition remains robust, supported by its diversified revenue sources and extensive land assets. TPL's continuous efforts in innovation and sustainable land management practices place it as a significant player in the Texas land and resource market.
Texas Pacific Land Corporation (NYSE: TPL) and Aris Water Solutions, Inc. (NYSE: ARIS) have expanded their alliance to enhance full-cycle water solutions for clients in the Permian Basin. This collaboration will optimize the service delivery across key Texas locations, enabling Aris to utilize TPL's Northern Delaware surface acreage. The partnership aims to improve water recycling capabilities and facilitate operator development on TPL's royalty lands. This strategic enhancement seeks to provide critical water management solutions in the region, addressing the growing demands of energy operators.
Texas Pacific Land Corporation (NYSE: TPL) and Aris Water Solutions, Inc. (NYSE: ARIS) have expanded their alliance to enhance full-cycle water management solutions in the Delaware Basin. This partnership allows Aris to access TPL's Northern Delaware surface acreage, enabling them to offer comprehensive produced water services and water recycling to key customers. Both companies aim to improve water sustainability and operational efficiency for upstream operators, further solidifying their roles in the Permian Basin's water infrastructure.
Texas Pacific Land Corporation (NYSE: TPL) announced a stock repurchase program to buy back up to
Texas Pacific Land Corporation (TPL) reported strong financial results for Q4 and the full year 2021, with a net income of $79.0 million ($10.21 per share) in Q4 and $270.0 million ($34.83 per share) for the year. Revenues surged to $147.2 million in Q4 and $451.0 million for 2021, driven by increased oil and gas royalty revenue. The company achieved record adjusted EBITDA of $130.3 million for Q4. A quarterly dividend of $3.00 per share was declared for Q1 2022. TPL's strong performance reflects robust activity in the Permian Basin amidst rising oil prices.
Texas Pacific Land Corporation (NYSE: TPL) will announce its fourth quarter and full year 2021 financial results post-market on February 23, 2022. A conference call will be held the following day, February 24, 2022, at 7:30 a.m. CT. The call will be accessible via a webcast on the company’s website. TPL is noted for its significant landholdings in Texas, specifically in the Permian Basin, generating revenue from various sources including oil and gas royalties and commercial leases.
Texas Pacific Land Corporation (NYSE: TPL) will hold its Annual Meeting virtually on December 29, 2021, at 2:00 p.m. Central time due to the rise in COVID-19 cases from the Omicron variant. Stockholders can join via a virtual platform, with details available in the revised proxy statement. In-person voting will be available at the Omni Dallas Hotel, though the meeting will not be held in person. The Company plans to provide future opportunities for in-person interactions with its Board of Directors and management when safe. Additional information can be found at SEC.gov.
Gabi Gliksberg, a significant stockholder of Texas Pacific Land Corporation (NYSE: TPL), has issued an open letter to the Board addressing their opposition to his Proposal #7 to declassify the Board, claiming it hinders accountability. He criticizes the Board's refusal to disclose results from an inquiry regarding Mr. McGinnis's stock ownership, arguing for transparency. Gliksberg emphasizes that the Company should prioritize stockholders' interests, not the Board's stability, and questions the Board's integrity in handling stockholder inquiries.
Texas Pacific Land Corporation (NYSE: TPL) urges stockholders to vote ‘FOR’ the election of three qualified directors—Barbara Duganier, Tyler Glover, and Dana McGinnis—at the Annual Meeting on December 29, 2021. The Board also recommends support for Proposals Two, Four, Five, and Six, and suggests a one-year term for Proposal Three while opposing Proposal Seven related to the Board's classified structure. The letter highlights the directors' experience and addresses concerns regarding stockholder Gabi Gliksberg's proposals.
Texas Pacific Land Corporation (NYSE: TPL) reported robust financial results for Q3 2021, achieving net income of $83.8 million ($10.82/share) on revenues of $123.7 million. This represents an 81.2% increase in net income year-over-year. Year-to-date, net income reached $190.9 million, a 45.5% increase from the previous year. The company's royalty production averaged 19.5 thousand barrels of oil equivalent per day. A quarterly cash dividend of $2.75 per share was declared for December 15, 2021. The company also completed a corporate reorganization in January 2021.
Texas Pacific Land Corporation (NYSE: TPL) has postponed its 2021 Annual Meeting of Stockholders from November 16, 2021, to December 29, 2021. The new record date for stockholders entitled to vote will be November 29, 2021. This decision was made to allow additional time for reviewing and responding to stockholder proposals. The Company previously filed a definitive proxy statement and an amendment with the SEC, and will file a second amendment regarding the postponement.
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