Texas Pacific Land Corp. Q1 2024 10-Q Filed
Ticker: TPL · Form: 10-Q · Filed: 2024-05-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, oil-royalty, land-management
TL;DR
TPL Q1 10-Q is in: Oil royalties and land surface rights remain core business. Check financials for Q1 2024.
AI Summary
Texas Pacific Land Corp. filed its 10-Q for the period ending March 31, 2024. The company's primary business involves oil and gas royalties and land surface rights. Key financial data and operational metrics for the first quarter of 2024 are detailed within the report.
Why It Matters
This filing provides investors with an update on Texas Pacific Land Corp.'s financial performance and operational status for the first quarter of 2024, crucial for understanding its ongoing business in oil royalties and land management.
Risk Assessment
Risk Level: medium — The company operates in the volatile oil and gas sector, which is subject to commodity price fluctuations and regulatory changes.
Key Numbers
- 1700 PACIFIC AVENUE — Business Address (Headquarters location in Dallas, TX)
- 75201 — ZIP Code (Business and mailing address ZIP code)
Key Players & Entities
- Texas Pacific Land Corp. (company) — Filer of the 10-Q
- 20240331 (date) — End of reporting period
- 20240508 (date) — Filing date
FAQ
What is the primary business of Texas Pacific Land Corp. as indicated in this filing?
The filing indicates Texas Pacific Land Corp.'s primary business involves oil royalty traders and land surface rights, with specific segments like Oil and Gas Royalties.
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240331, meaning the filing covers the period ending March 31, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20240508.
What is the company's stated fiscal year end?
The company's fiscal year ends on 1231.
What are the key segments or interests mentioned in relation to the company's assets?
Key segments and interests mentioned include Land Surface Rights, Royalty Interests in Acres (specifically Acres116 and Acres128), and Oil and Gas Royalties.
From the Filing
0001811074-24-000031.txt : 20240508 0001811074-24-000031.hdr.sgml : 20240508 20240508162028 ACCESSION NUMBER: 0001811074-24-000031 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 89 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240508 DATE AS OF CHANGE: 20240508 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-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-39804 FILM NUMBER: 24926491 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-Q 1 tpl-20240331.htm 10-Q tpl-20240331 0001811074 --12-31 2024 Q1 false 0.0625 0.0625 0.0078125 0.0078125 0.0625 0.0078125 0.125 0.0625 0.0625 0.0078125 0.0078125 .33 .33 .33 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure utr:acre tpl:segment utr:Boe tpl:well 0001811074 2024-01-01 2024-03-31 0001811074 2024-04-30 0001811074 2024-03-31 0001811074 2023-12-31 0001811074 tpl:LandSurfaceRightsMember 2024-03-31 0001811074 tpl:LandSurfaceRightsMember 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres116Member 2024-03-31 0001811074 tpl:RoyaltyInterestsInAcres116Member 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2024-03-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2023-12-31 0001811074 srt:ScenarioPreviouslyReportedMember 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres116Member 2024-01-01 2024-03-31 0001811074 tpl:RoyaltyInterestsInAcres116Member 2023-01-01 2023-12-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2024-01-01 2024-03-31 0001811074 tpl:RoyaltyInterestsInAcres128Member 2023-01-01 2023-12-31 0001811074 tpl:OilAndGasRoyaltiesMember 2024-01-01 2024-03-31 0001811074 tpl:OilAndGasRoyaltiesMember 2023-01-01 2023-03-31 0001811074 tpl:WaterSalesAndRoyaltiesMember 2024-01-01 2024-03-31 0001811074 tpl:WaterSalesAndRoyaltiesMember 2023-01-01 2023-03-31 0001811074 tpl:ProducedWaterRoyaltiesMember 2024-01-01 2024-03-31 0001811074 tpl:ProducedWaterRoyaltiesMember 2023-01-01 2023-03-31 0001811074 tpl:EasementandSundryMember 2024-01-01 2024-03-31 0001811074 tpl:EasementandSundryMember 2023-01-01 2023-03-31 0001811074 tpl:LandSalesMember 2024-01-01 2024-03-31 0001811074 tpl:LandSalesMember 2023-01-01 2023-03-31 0001811074 2023-01-01 2023-03-31 0001811074 2022-12-31 0001811074 2023-03-31 0001811074 tpl:WestTexasMember 2024-03-31 0001811074 tpl:A1128thNonparticipatingPerpetualOilAndGasRoyaltyInterestMember tpl:WestTexasMember 2024-03-31 0001811074 tpl:A116thNonparticipatingPerpetualOilAndGasRoyaltyInterestMember tpl:WestTexasMember 2024-03-31 0001811074 tpl:A18thNetRoyaltyAcresMember tpl:WestTexasMember 2024-03-31 0001811074 tpl:NetRoyaltyAcresMember tpl:WestTexasMember 2024-03-31 0001811074 2024-03-01 0001811074 2024-03-26 2024-03-26 0001811074 2024-03-26 0001811074 tpl:A18thNetRoyaltyAcresMember 2024-01-01 2024-03-31 0001811074 tpl:LandSalesMember stpr:TX 2024-01-01 2024-03-31 0001811074 tpl:WaterServicerelatedAssetsMember 2024-03-31 0001811074 tpl:WaterServicerelatedAssetsMember 2023-12-31 0001811074 us-gaap:FurnitureAndFixturesMember 2024-03-31 0001811074 us-gaap:FurnitureAndFixturesMember 2023-12-31 0001811074 us-gaap:PropertyPlantAndEquipmentOtherTypesMember 2024-03-31 0001811074 us-gaap:PropertyPlantAndEquipmentOtherTypesMember 2023-12-31 0001811074 tpl:SaltwaterDisposableEasementMember 2024-03-31 0001811074 tpl:SaltwaterDisposableEasementMember 2023-12-31 0001811074 tpl:GroundwaterRightsMember 2024-03-31 0001811074 tpl:GroundwaterRightsMember 2023-12-31 0001811074 us-gaap:PerformanceSharesMember 2021-01-01 2021-12-31 0001811074 us-gaap:RestrictedStockMember us-gaap:ShareBasedCompensationAwardTrancheThreeMember 2024-01-