WASHINGTON (dpa-AFX) - Texas Pacific Land Corp. (TPL) on Wednesday reported an increase in second-quarter profit, driven by higher revenues, reflecting stronger oil and gas royalty revenue and growth in its water-related business.
Net income for the quarter increased to $153.9 million, or $2.23 per share, from $116.1 million, or $1.68 per share, a year ago. Total revenue rose to a record $246.1 million from $187.5 million last year.
Oil and gas royalty revenue climbed to $145.6 million from $95.0 million a year earlier. Water sales increased to $39.7 million from $25.6 million, while produced water royalty revenue rose to $37.1 million from $30.7 million. Easements and other surface-related income declined to $23.7 million from $36.2 million.
The company generated record oil and gas royalty production of 39.7 thousand barrels of oil equivalent per day and record produced water royalty volumes of 4.9 million barrels per day.
Texas Pacific Land's board declared a quarterly cash dividend of $0.60 per share, payable on September 15 to shareholders of record on September 1.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
