Texas Pacific Land : Fourth Quarter Earnings Release (Unaudited)
January 28, 2016 at 04:32 pm
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Texas Pacific Land Trust (NYSE:TPL):
TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS - UNAUDITED
Three Months Ended
December 31, 2015
December 31, 2014
Oil and gas royalties
$
6,574,701
$
6,532,555
Land sales
300,000
1,704,582
Easements and sundry income
7,716,059
4,904,654
Other income
130,298
153,277
Total income
$
14,721,058
$
13,295,068
Provision for income tax
$
4,350,113
$
3,965,655
Net income
$
8,995,057
$
8,234,892
Net income per sub-share
$
1.10
$
.99
Average sub-shares outstanding during period
8,154,321
8,353,393
Year Ended
December 31, 2015
December 31, 2014
Oil and gas royalties
$
24,860,205
$
29,346,103
Land sales
22,616,635
3,698,312
Easements and sundry income
31,413,158
21,517,232
Other income
552,295
655,106
Total income
$
79,442,293
$
55,216,753
Provision for income tax
$
25,244,515
$
16,666,534
Net income
$
50,038,507
$
34,765,020
Net income per sub-share
$
6.10
$
4.14
Average sub-shares outstanding during period
8,197,632
8,397,314
This news release may contain forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements regarding the Trust's future operations
and prospects, the markets for real estate in the areas in which the
Trust owns real estate, applicable zoning regulations, the markets for
oil and gas, production limits on prorated oil and gas wells authorized
by the Railroad Commission of Texas, expected competition, management's
intent, beliefs or current expectations with respect to the Trust's
future financial performance and other matters. We assume no
responsibility to update any such forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160128006497/en/
Texas Pacific Land Corporation is a landowner in the state of Texas with approximately 868,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. Its segments include Land and Resource Management and Water Services and Operations. Its Land and Resource Management segment encompasses the business of managing its approximately 868,000 surface acres of land and its oil and gas royalty interests in West Texas, principally concentrated in the Permian Basin. This segment consists primarily of royalties from oil and gas, revenues from easements, commercial leases and renewables, and land and material sales. Its Water Services and Operations segment encompasses the business of providing full-service water offerings to operators in the Permian Basin through Texas Pacific Water Resources LLC (TPWR). These full-service water offerings include, but are not limited to, water sourcing, produced-water treatment, infrastructure development, and others.