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Sankey diagram of Texas Pacific Land Corporation. A complete text table follows the diagram.
TPL does not drill wells: its land and royalty interests collect revenue from hydrocarbons, water, surface access and land transactions
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Every displayed flow is an exact reported quarterly amount from the filing's segment table. Oil, natural-gas and NGL royalties are the filing's exact components of oil and gas royalty revenue.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| TPL revenue | 1 | $237M | Revenue without operating oil and gas wells |
| Land & royalty interests | 2 | $154M | 65% of revenue |
| Water services | 2 | $83.3M | 35% of revenue |
| Oil & gas royalties | 3 | $118M | Operators drill; TPL collects |
| Surface access & leases | 3 | $14.4M | Easements, materials, damages and leases |
| Land sale | 3 | $20.9M | Quarterly transaction revenue |
| Water supplied to operators | 3 | $46.9M | Fresh and treated water |
| Produced-water royalties | 3 | $33.5M | Fees when water leaves the well |
| Water-related surface income | 3 | $2.9M | Easements and related access |
| Oil royalties | 4 | $90.6M | 77% of hydrocarbon royalties |
| Natural-gas royalties | 4 | $9.8M | Price-sensitive gas exposure |
| NGL royalties | 4 | $17.7M | Natural-gas liquids |
| From | To | Value |
|---|---|---|
| TPL revenue | Land & royalty interests | $154M |
| TPL revenue | Water services | $83.3M |
| Land & royalty interests | Oil & gas royalties | $118M |
| Land & royalty interests | Surface access & leases | $14.4M |
| Land & royalty interests | Land sale | $20.9M |
| Water services | Water supplied to operators | $46.9M |
| Water services | Produced-water royalties | $33.5M |
| Water services | Water-related surface income | $2.9M |
| Oil & gas royalties | Oil royalties | $90.6M |
| Oil & gas royalties | Natural-gas royalties | $9.8M |
| Oil & gas royalties | NGL royalties | $17.7M |