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Sep 30, 2024
Texas Pacific Q3 2024 Earnings Report
Texas Pacific's financial performance was marked by strategic acquisitions and record royalty production.
Key Takeaways
Texas Pacific Land Corporation announced strong Q3 2024 results, highlighted by strategic acquisitions in the Delaware and Midland Basins, record royalty production, and a 37% increase in the regular dividend. The company reported a net income of $106.6 million and adjusted EBITDA of $144.1 million.
Acquired mineral interests across approximately 4,106 net royalty acres in the northern Delaware Basin for $120.3 million.
Acquired approximately 4,120 surface acres in the Midland Basin for $45.0 million.
Royalty production reached 28.3 thousand barrels of oil equivalent per day.
Net income totaled $106.6 million, or $4.63 per share (diluted), with adjusted EBITDA at $144.1 million and free cash flow at $106.9 million.
Texas Pacific
Texas Pacific
Texas Pacific Revenue by Segment
Revenue by Segment
Oil & Gas Royalties Revenue
CapyFin.comWater Sales Revenue
CapyFin.comProduced Water Royalties Revenue
CapyFin.comSurface-Related Income Revenue
CapyFin.com Forward Guidance
Texas Pacific anticipates that its recently announced acquisitions will meaningfully enhance its royalty production going forward and provide a substantial uplift to near-term financial results and strengthen long-term growth outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income