Texas Pacific Land Corporation Reports Record Oil Royalty and Water Revenues in Q1 2025

Texas Pacific Land Corporation (NYSE: TPL) announced strong Q1 2025 results, posting record oil and gas royalty production and water segment revenues. The company reported net income of $120.7 million ($5.24 per diluted share), up from $114.4 million in Q1 2024 and $118.4 million in Q4 2024.

Key Highlights:
• Oil & gas royalty production: 31.1 thousand Boe/day, a company record
• Water Services revenue: $69.4 million, also a record
• Total revenue: $196.0 million, up 12.6% YoY
• Adjusted EBITDA: $169.4 million, up from $152.0 million YoY
• Free cash flow: $126.6 million
• Quarterly dividend: $1.60 per share, payable June 16, 2025

Operational updates showed 90.2 net producing wells and 24.3 net wells in planning or development stages (permits, DUCs, CUPs). The average realized price was $41.58 per Boe, and the company continued to operate debt-free.

CEO Tyler Glover emphasized the company’s resilience, noting high-margin cash flows, strong liquidity, and no debt as advantages amid potential oil market volatility.