Business
Texas Pacific Land Corporation Announces Fourth Quarter and Full Year 2024 Results
DALLAS, February 19, 2025--Texas Pacific Land Corporation Announces Fourth Quarter and Full Year 2024 Results
About this update from Tpl Corp Ltd
[{"type":"text","content":"– Achieved Record Annual Performance From Water Segment","length":55,"tagName":"p","attribs":{}},{"type":"text","content":"– Earnings Call to be Held Thursday, February 20, 2025 at 7:30 am CT","length":68,"tagName":"p","attribs":{}},{"type":"text","content":"DALLAS, February 19, 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 and extraction, today announced its financial and operating results for the fourth quarter and full year of 2024.","length":458,"tagName":"p"},{"type":"text","content":"Fourth Quarter 2024 Highlights","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Acquired mineral interests across 7,490 net royalty acres located primarily in the Midland Basin for a purchase price of $275.2 million, net of post-close adjustments, in an all-cash transaction in October 2024.","length":211,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Royalty production of 29.1 thousand barrels of oil equivalent ("Boe") per day, a company record","length":105,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"As of December 31, 2024, TPL’s royalty acreage had an estimated 6.4 net well permits, 13.2 net drilled but uncompleted wells, 3.0 net completed wells, and 86.8 net producing wells; net producing wells added during the quarter had an average lateral length of approximately 10,100 ft.","length":283,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Consolidated net income of $118.4 million, or $5.14 per share (diluted)","length":71,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA(1) of $161.3 million","length":36,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Free cash flow (1) of $123.7 million","length":36,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Quarterly cash dividend of $1.60 per share was paid on December 16, 2024","length":72,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":814,"olType":false},{"type":"text","content":"Full Year 2024 Highlights","length":25,"tagName":"p"},{"type...