TPL · 10-Q · 2026Q2 · Full report
Revenue Performance and Mix
Texas Pacific Land Corp · 2026-08-05 · Importance 59 · Surprise 48 · From source text
Six-month revenue increased 25.9% to $482.9 million from $383.5 million, while second-quarter revenue increased 31.2% to $246.1 million from $187.5 million. Land and Resource Management revenue rose 24.4% to $317.4 million, driven by oil and gas royalties of $263.8 million and $20.9 million of land sales, while easements declined $16.1 million to $32.7 million. Water Services and Operations revenue increased 28.8% to $165.5 million, including water sales growth of $22.2 million to $86.6 million and produced water royalties growth of $12.2 million to $70.6 million. Oil and gas royalty growth reflected a 19.3% increase in production to 38.4 thousand Boe per day and a 7.1% increase in realized prices to $39.72 per Boe, while water sales benefited from 16.4% higher volumes and 15.5% higher pricing.
Key facts
- Three months ended June 30, 2026 oil and gas royalty revenue was $145.6 million versus $95.0 million in 2025, an increase of 53.2%; average realized price increased 28.0% to $42.17 per Boe from $32.94; share of production increased to 39.7 thousand Boe per day from 33.2 thousand Boe per day. source
- Total consolidated revenues were $246.1 million for three months ended June 30, 2026 and $187.5 million for three months ended June 30, 2025. source
- Three months ended June 30, 2026 water sales revenue was $39.7 million compared to $25.6 million in 2025; increase principally due to 37.5% increase in water sales volumes and 13.0% increase in average realized pricing. source
- Total consolidated revenues were $482.9 million for six months ended June 30, 2026 and $383.5 million for six months ended June 30, 2025. source
- Three months ended June 30, 2026 realized oil price was $97.55 per Bbl and realized equivalents price was $42.17 per Boe. source
- Own a 1/128th nonparticipating perpetual oil and gas royalty interest under approximately 85,000 acres of land. source
- Own a 1/16th NPRI under approximately 371,000 acres of land. source
- Own approximately 33,000 additional net royalty acres (normalized to 1/8th) for a collective total of approximately 224,000 NRA. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +40.4% | Total consolidated revenues were $482.9 million for six months ended June 30, 2026 and $383.5 million for six months ended June 30, 2025. |
| revenue | positive | realized | +23.8% | Total consolidated revenues were $246.1 million for three months ended June 30, 2026 and $187.5 million for three months ended June 30,… |