TPL · 10-Q · 2026Q3 · Full report

Operating Expense Trends

Texas Pacific Land Corp · 2026-11-04 · Importance 54 · Surprise 48 · From source text

Total operating expenses increased 21.3% to $174.3 million for the nine months ended September 30, 2026 from $143.7 million in 2025. General and administrative expenses rose 56.9% to $27.2 million, including increases in legal and professional fees, office costs, and land operating expenses. Salaries and related employee expenses increased to $47.7 million from $43.0 million, while depreciation, depletion and amortization rose to $53.5 million from $40.6 million, principally due to acquired royalty interests and new water-service assets. Water service-related expenses increased to $39.7 million from $36.0 million, principally with 5.0% higher water sales volumes.

Key facts

• Texas Pacific Land Corp's water service-related expenses increased $3.7 million to $39.7 million in the first nine months of 2026, principally related to a 5.0% increase in water sales volumes. source
• Texas Pacific Land Corp's total operating expenses were $174.3 million in the nine months ended September 30, 2026, compared with $143.7 million in 2025. source
• Texas Pacific Land Corp's general and administrative expenses were $18.0 million in the first nine months of 2026 versus $10.4 million in 2025; increases included $2.6 million in legal and professional fees, $1.4 million in rent and office costs, and $1.3 million in land operating expenses. source
• Texas Pacific Land Corp's WSO depreciation, depletion and amortization was $15.0 million in the first nine months of 2026 versus $13.3 million in 2025, mainly due to depreciation on new water service-related assets placed in service. source

Impact estimates