TPL · 10-Q · 2026Q3 · Full report

Data Center Power Expansion

Texas Pacific Land Corp · 2026-11-04 · Importance 52 · Surprise 42

During the nine months ended September 30, 2026, the Company acquired land in Shackelford and Jones Counties, Texas, in connection with its data center and power generation initiative. In October 2026, it acquired additional land and oil and gas royalty interests in Midland and Glasscock Counties, Texas, for $145.0 million, excluding acquisition costs. Separately, an agreement with Chevron supports Project Kilby, a large-scale power generation facility for a customer data center in Reeves County; the Company sold land for $42.5 million in aggregate consideration and obtained an exclusive right to source aquifer-derived water, with annual payments due through 2046.