TPL · 10-Q · 2026Q2 · Full report

Data Center Water Demand

Texas Pacific Land Corp · 2026-08-05 · Importance 53 · Surprise 60

Chevron entered into an agreement with Texas Pacific Land to obtain land and brackish-water resources for Project Kilby, a large-scale power-generation facility supporting a customer data center in Reeves County, Texas. Texas Pacific Land sold land for aggregate consideration of $42.5 million and obtained the exclusive right to source aquifer-derived water for the power-generation facility and related project activities. The company also entered into a separate agreement to supply water to the project. The arrangement demonstrates emerging demand for the company’s land and water resources from data-center power infrastructure in the Permian Basin.

Key facts

• Six months ended June 30, 2026 water sales revenue was $86.6 million compared to $64.4 million in 2025; increases due to 16.4% increase in water sales volumes and 15.5% increase in average realized pricing. source