TPL · 10-Q · 2026Q3 · Full report

Energy Infrastructure Partnerships

Texas Pacific Land Corp · 2026-11-04 · Importance null · Surprise 64 · In source text

TPL’s surface-related income includes easements for oil and gas exploration and production, renewable energy, and agricultural operations. For the third quarter of 2026, easements and other surface-related income increased to $34.2 million from $12.7 million, principally reflecting increases in pipeline easements and power-line and utility easements. For the first nine months, power-line and utility easements increased $2.5 million year over year, while total easements and other surface-related income rose to $77.2 million from $71.2 million. Easement activity depends on development decisions by companies operating on or near TPL lands and can vary significantly by period.

Key facts

• Under the Chevron Project Kilby agreement, Texas Pacific Land Corp sold land for $42.5 million and received a nominal cash payment at closing, with annual payments due through 2046. source
• Texas Pacific Land Corp agreed to provide land and brackish water resources for Chevron's Project Kilby, a large-scale power generation facility being developed to support a customer data center in Reeves County, Texas. source
• Texas Pacific Land Corp acquired the exclusive right to source aquifer-derived water for the Project Kilby power facility and entered into a separate agreement to supply water to the project. source
• The Project Kilby arrangement includes a developer-held put option and a Texas Pacific Land Corp-held call option to repurchase the land if certain development milestones are not achieved. source

Impact estimates