TPL Crushes Q1 Earnings, Boosts Permian Growth

Texas Pacific Land Corporation smashes first quarter earnings, with record revenue of $237 million, up 12% from last quarter and 21% from last year. Adjusted EBITDA hits $181 million, free cash flow at $136 million, and oil & gas royalties at 37,000 barrels of oil equivalent per day, up 19% year over year. Despite uncertainty, strong operator activity in the Permian Basin drives royalty gains. TPL sells land for $43 million over twenty years and inks a water supply deal, with Phase two B desalination plant nearing completion. Well inventory grows to 20.7 net line-of-sight wells, setting the stage for Permian growth and power deals. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4cd66490aa14a722