TPL · 10-Q · 2026Q2 · Full report

Liquidity and Capital Allocation

Texas Pacific Land Corp · 2026-08-05 · Importance 64 · Surprise 42 · From source text

Texas Pacific Land maintains a $500 million undrawn revolving credit facility and was in compliance with all covenants as of June 30, 2026. Management established a target cash and cash equivalents balance of approximately $700 million, with cash above that target generally intended for special dividends and/or share repurchases. Cash and cash equivalents were $248.6 million at June 30, 2026, and management expects cash, operating cash flow, and the credit facility to fund capital expenditures, working capital, dividends, repurchases, acquisitions, and other needs for at least the next 12 months. The Company paid $83.2 million of dividends during the six months ended June 30, 2026 and made no common-stock repurchases.

Key facts

• Target cash and cash equivalents balance set at approximately $700 million. source
• Credit Facility is a $500 million revolving credit agreement that remained undrawn as of June 30, 2026. source
• Cash provided by operating activities was $334.9 million for the six months ended June 30, 2026 compared to $277.6 million for the six months ended June 30, 2025. source
• Cash used in financing activities was $92.3 million for the six months ended June 30, 2026 compared to $88.6 million for the six months ended June 30, 2025; dividends paid were $83.2 million in 2026 and $74.2 million in 2025; employees surrendered $9.1 million in shares in 2026 and $14.3 million in 2025 to settle tax withholdings. source
• As of June 30, 2026, cash and cash equivalents were $248.6 million. source
• Free cash flow: $155,532 $130,057 $291,941 $256,613 source

Impact estimates