Business
Texas Pacific Land Corporation Announces First Quarter Results
DALLAS, May 07, 2025--Texas Pacific Land Corporation Announces First Quarter Results
About this update from Texas Pacific Land Corporation
[{"type":"text","content":"Earnings Call to be Held Thursday, May 8, 2025 at 9:30 am CT","length":60,"tagName":"p","attribs":{}},{"type":"text","content":"DALLAS, May 07, 2025--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (the "Company," "TPL," "we," "our" or "us"), one of the largest landowners in the State of Texas with surface and royalty ownership that provide revenue opportunities through the support of energy production, today announced its financial and operating results for the first quarter of 2025.","length":423,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Oil and gas royalty production of 31.1 thousand barrels of oil equivalent ("Boe") per day, a Company record","length":117,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"As of March 31, 2025, TPL’s royalty acreage had an estimated 5.9 net well permits, 12.9 net drilled but uncompleted wells ("DUCs"), and 5.4 net completed but not producing wells ("CUPs"). Net well permits, DUCs, and CUPs total 24.3 net wells(1), which represents a Company record. TPL had 90.2 net producing wells, and net producing wells added during the quarter had an average lateral length of approximately 8,988 feet.","length":442,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Water Services and Operations segment revenues of $69.4 million, a Company record","length":81,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Consolidated net income of $120.7 million, or $5.24 per share (diluted)","length":71,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA(2) of $169.4 million","length":36,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Free cash flow(2) of $126.6 million","length":35,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Quarterly cash dividend of $1.60 per share was paid on March 17, 2025","length":69,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":851,"olType":false},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"text-align:right;list-style-position:inside;padding-left:0.0px;padding-right:0.0px;vertical-align:top;","val":[{"type":"text","co...