Texas Pacific Land Corp Files 2023 10-K, Details Royalty Interests
Ticker: TPL · Form: 10-K · Filed: 2024-02-21T00:00:00.000Z
Sentiment: neutral
Topics: earnings, oil-royalty, real-estate, 10-K
TL;DR
**TPL's 2023 10-K is out, showing their land and oil royalty game is still strong, especially with those 1/16th and 1/128th interests.**
AI Summary
Texas Pacific Land Corp (TPL) filed its 10-K on February 21, 2024, for the fiscal year ending December 31, 2023. The company, primarily involved in oil royalty trading and real estate, reported its financial position as of December 31, 2023, and December 31, 2022. Key assets include land surface rights and royalty interests in acres, with specific disclosures for 1/16th and 1/128th royalty interests.
Why It Matters
This filing provides transparency into Texas Pacific Land Corp's financial health and its significant land and royalty holdings, which are crucial for investors assessing its long-term value and exposure to the energy sector.
Risk Assessment
Risk Level: medium — The company's primary business in oil royalty trading and real estate exposes it to commodity price volatility and real estate market fluctuations.
Key Numbers
- 2023-12-31 — Fiscal Year End (Date for which the financial statements are reported.)
- 2024-02-21 — Filing Date (Date the 10-K was officially filed with the SEC.)
- 001-39804 — SEC File Number (Unique identifier for the company's filings with the SEC.)
Key Players & Entities
- Texas Pacific Land Corp (company) — Filer of the 10-K
- 001-39804 (company) — SEC File Number
- Dallas (company) — Business City
- 2023-12-31 (date) — Conformed Period of Report End Date
- 2024-02-21 (date) — Filed As Of Date
FAQ
What is the primary business of Texas Pacific Land Corp according to the filing?
Texas Pacific Land Corp's primary business is categorized under 'OIL ROYALTY TRADERS [6792]' and 'Real Estate & Construction' based on its Standard Industrial Classification and Organization Name.
When was the 10-K filed and for what period?
The 10-K was filed on February 21, 2024, for the conformed period of report ending December 31, 2023.
What specific types of royalty interests are mentioned in the filing?
The filing specifically mentions 'Royalty Interests In Acres 1/16' and 'Royalty Interests In Acres 1/128'.
What is the company's business address?
The business address for Texas Pacific Land Corp is 1700 Pacific Avenue, Suite 2900, Dallas, TX 75201.
What is the Central Index Key (CIK) for Texas Pacific Land Corp?
The Central Index Key (CIK) for Texas Pacific Land Corp is 0001811074.
From the Filing
0001811074-24-000015.txt : 20240221 0001811074-24-000015.hdr.sgml : 20240221 20240221162338 ACCESSION NUMBER: 0001811074-24-000015 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 112 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240221 DATE AS OF CHANGE: 20240221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Texas Pacific Land Corp CENTRAL INDEX KEY: 0001811074 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 750279735 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39804 FILM NUMBER: 24659921 BUSINESS ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-969-5530 MAIL ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 10-K 1 tpl-20231231.htm 10-K tpl-20231231 0001811074 2023 FY false 0.0625 0.0625 0.0078125 0.0078125 0.0625 0.0078125 0.125 0.0625 0.0625 0.0078125 0.0078125 http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense 0.666666666666667 0.333333333333333 .33 .33 .33 0001811074 2023-01-01 2023-12-31 0001811074 2023-06-30 iso4217:USD 0001811074 2024-02-14 xbrli:shares 0001811074 2023-12-31 0001811074 2022-12-31 0001811074 tpl:LandSurfaceRightsMember 2023-12-31 0001811074 tpl:LandSurfaceRightsMember 2022-12-31 0001811074 tpl:RoyaltyInterestsInAcres116Member 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres116Member 2022-12-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2022-12-31 iso4217:USD xbrli:shares 0001811074 tpl:RoyaltyInterestsInAcres116Member 2023-01-01 2023-12-31 xbrli:pure 0001811074 tpl:RoyaltyInterestsInAcres116Member 2023-01-01 2023-03-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2023-01-01 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2023-01-01 2023-03-31 0001811074 tpl:OilAndGasRoyaltiesMember 2023-01-01 2023-12-31 0001811074 tpl:OilAndGasRoyaltiesMember 2022-01-01 2022-12-31 0001811074 tpl:OilAndGasRoyaltiesMember 2021-01-01 2021-12-31 0001811074 tpl:WaterSalesAndRoyaltiesMember 2023-01-01 2023-12-31 0001811074 tpl:WaterSalesAndRoyaltiesMember 2022-01-01 2022-12-31 0001811074 tpl:WaterSalesAndRoyaltiesMember 2021-01-01 2021-12-31 0001811074 tpl:ProducedWaterRoyaltiesMember 2023-01-01 2023-12-31 0001811074 tpl:ProducedWaterRoyaltiesMember 2022-01-01 2022-12-31 0001811074 tpl:ProducedWaterRoyaltiesMember 2021-01-01 2021-12-31 0001811074 tpl:EasementandSundryMember 2023-01-01 2023-12-31 0001811074 tpl:EasementandSundryMember 2022-01-01 2022-12-31 0001811074 tpl:EasementandSundryMember 2021-01-01 2021-12-31 0001811074 tpl:LandSalesAndOtherRevenueMember 2023-01-01 2023-12-31 0001811074 tpl:LandSalesAndOtherRevenueMember 2022-01-01 2022-12-31 0001811074 tpl:LandSalesAndOtherRevenueMember 2021-01-01 2021-12-31 0001811074 2022-01-01 2022-12-31 0001811074 2021-01-01 2021-12-31 0001811074 tpl:SubShareCertificatesOfProprietaryInterestMember 2020-12-31 0001811074 us-gaap:CommonStockMember 2020-12-31 0001811074 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001811074 us-gaap:TreasuryStockCommonMember 2020-12-31 0001811074 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001811074 us-gaap:RetainedEarningsMember 2020-12-31 0001811074 tpl:NetProceedsFromAllSourcesMember 2020-12-31 0001811074 2020-12-31 0001811074 us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0001811074 tpl:SubShareCertificatesOfProprietaryInterestMember 2021-01-01 2021-12-31 0001811074 us-gaap:CommonStockMember 2021-01-01 2021-12-31 0001811074 tpl:NetProceedsFromAllSourcesMember 2021-01-01 2021-12-31 0001811074 us-gaap:TreasuryStockCommonMember 2021-01-01 2021-12-31 0001811074 us-gaap:DividendPaidMember 2021-01-01 2021-12-31 0001811074 us-gaap:AdditionalPaidInCapitalMember 2021-01