TPL · 10-Q · 2026Q2 · Full report

Data Center Power Initiatives

Texas Pacific Land Corp · 2026-08-05 · Importance 90 · Surprise 100

During the six months ended June 30, 2026, Texas Pacific Land acquired $110.2 million of land, including property in Shackelford and Jones Counties, Texas, for data center and power generation initiatives. The Company also entered into a Chevron agreement connected to Project Kilby, a large-scale power generation facility in Reeves County, Texas, intended to support a customer data center. The arrangement provided Chevron with land and brackish water resources for aggregate consideration of $42.5 million, consisting of nominal cash at closing and annual payments through 2046. Texas Pacific Land recognized $20.9 million of land sales revenue at closing and recorded a $20.9 million present-value financing receivable for contractual payments of $42.4 million discounted at 7.5%.