Texas Pacific Land Corp: insider trades · United States · SEC (Form 4)

About Texas Pacific Land Corp

Texas Pacific Land Corp. (NYSE: TPL) is a United States-listed company with a highly distinctive business model and a strong link to the energy value chain in the Permian Basin. Rather than operating as a conventional oil and gas producer, TPL is one of the largest landowners in Texas and monetizes a broad portfolio of surface rights and royalty interests. That structure gives the company exposure to energy activity without the same capital intensity, drilling risk, or reserve replacement burden faced by upstream operators. The company’s origins date back to 1888, when it was organized as Texas Pacific Land Trust to hold land inherited from the Texas and Pacific Railway. In January 2021, TPL completed its reorganization from a business trust into Texas Pacific Land Corporation, a Delaware corporation, creating the current corporate structure while preserving the core land-and-royalty model. Headquartered in Dallas, Texas, United States, the company maintains a geographically concentrated footprint, with the majority of its approximately 882,000 surface acres located in the Permian Basin in West Texas. TPL’s competitive position is unusual and, in many respects, difficult to replicate. Its acreage sits in one of North America’s most important hydrocarbon regions, giving the company long-duration exposure to drilling, infrastructure build-out, water handling, and industrial land use across the life cycle of a well. The company’s main revenue streams include oil and gas royalties, produced-water royalties, water sales, easements for pipelines, power lines and utilities, commercial leases, temporary permits, and other surface-related income such as materials sales and saltwater disposal. This creates a diversified set of monetization channels anchored to a scarce land base. From an investor perspective, TPL is typically viewed as a high-quality royalty and surface-rights platform with strong cash-generation characteristics and relatively low operating complexity. At the same time, revenue remains sensitive to commodity prices and to development decisions made by third-party operators in the basin, which means earnings can fluctuate with energy-cycle conditions. Recent disclosures underscore the business momentum. For full-year 2025, TPL reported $798.2 million in revenue and $481.4 million in net income, supported by higher oil and gas royalty revenue, produced-water royalties, water sales, and surface-related income. In February 2026, the board increased the regular quarterly cash dividend to $0.60 per share, a 12.5% sequential increase. In the first quarter of 2026, the company also reported continued growth in net income and adjusted EBITDA, reinforcing the resilience of its asset-heavy, royalty-driven model on the NYSE in the United States.