$TPL
Texas Pacific Land Corp

2021 Q4 Form 10-Q Financial Statement

#000181107421000052 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $147.2M $123.7M $74.38M
YoY Change 98.08% 66.29% -24.51%
Cost Of Revenue $2.734M $3.650M $2.300M
YoY Change -8.87% 58.7% -54.9%
Gross Profit $144.4M $120.0M $72.10M
YoY Change 102.59% 66.5% -22.81%
Gross Profit Margin 98.14% 97.05% 96.93%
Selling, General & Admin $13.89M $12.94M $11.50M
YoY Change 24.0% 12.5% -32.35%
% of Gross Profit 9.61% 10.78% 15.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.695M $3.866M $3.760M
YoY Change 30.42% 2.82% 44.62%
% of Gross Profit 3.25% 3.22% 5.21%
Operating Expenses $18.58M $16.80M $15.30M
YoY Change 15.42% 9.82% -21.94%
Operating Profit $125.9M $103.2M $56.75M
YoY Change 128.01% 81.93% -23.11%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$300.0K $513.0K $1.287M
YoY Change -400.0% -60.14% 43.0%
Pretax Income $125.6M $103.8M $58.04M
YoY Change 126.9% 78.78% -22.37%
Income Tax $19.40M $19.92M $11.76M
% Of Pretax Income 15.45% 19.2% 20.26%
Net Earnings $79.05M $83.84M $46.28M
YoY Change 76.48% 81.17% -22.9%
Net Earnings / Revenue 53.71% 67.78% 62.21%
Basic Earnings Per Share $10.82 $5.97
Diluted Earnings Per Share $10.21M $10.82 $5.97
COMMON SHARES
Basic Shares Outstanding 7.746M shares 7.751M shares 7.756M shares
Diluted Shares Outstanding 7.751M shares 7.756M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $428.2M $372.8M $315.8M
YoY Change 52.4% 18.04% 26.37%
Cash & Equivalents $428.2M $372.8M $315.8M
Short-Term Investments
Other Short-Term Assets $3.054M $2.450M
YoY Change
Inventory
Prepaid Expenses
Receivables $95.22M $82.90M $41.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $526.5M $458.1M $357.0M
YoY Change 58.34% 28.32% 14.17%
LONG-TERM ASSETS
Property, Plant & Equipment $79.72M $79.20M $240.4M
YoY Change 0.57% -67.05% 17.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0%
Total Long-Term Assets $237.6M $237.5M $244.2M
YoY Change -0.65% -2.74% 16.67%
TOTAL ASSETS
Total Short-Term Assets $526.5M $458.1M $357.0M
Total Long-Term Assets $237.6M $237.5M $244.2M
Total Assets $764.1M $695.6M $601.2M
YoY Change 33.66% 15.7% 15.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.01M $18.02M $15.80M
YoY Change 22.5% 14.05% -19.39%
Accrued Expenses $2.056M $6.670M $3.000M
YoY Change -26.57% 122.33% -14.29%
Deferred Revenue $3.809M $3.965M
YoY Change -4.7%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.90M $29.10M $21.50M
YoY Change 138.12% 35.36% -21.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.45M $20.71M $19.70M
YoY Change -21.95% 5.11% 21.6%
Total Long-Term Liabilities $20.45M $20.71M $19.70M
YoY Change -21.95% 5.11% 21.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.90M $29.10M $21.50M
Total Long-Term Liabilities $20.45M $20.71M $19.70M
Total Liabilities $112.4M $94.58M $82.00M
YoY Change 29.96% 15.34% 4.33%
SHAREHOLDERS EQUITY
Retained Earnings $668.0M $614.8M
YoY Change 36.93%
Common Stock $78.00K $78.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.42M $11.19M
YoY Change
Treasury Stock Shares
Shareholders Equity $651.7M $601.0M $519.2M
YoY Change
Total Liabilities & Shareholders Equity $764.1M $695.6M $601.2M
YoY Change 33.66% 15.7% 15.17%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $79.05M $83.84M $46.28M
YoY Change 76.48% 81.17% -22.9%
Depreciation, Depletion And Amortization $4.695M $3.866M $3.760M
YoY Change 30.42% 2.82% 44.62%
Cash From Operating Activities $90.65M $78.02M $60.60M
YoY Change 98.8% 28.75% -5.61%
INVESTING ACTIVITIES
Capital Expenditures -$5.015M $6.587M $353.0K
YoY Change 526.87% 1766.01% -107.06%
Acquisitions
YoY Change
Other Investing Activities $7.000K $1.079M -$2.800M
YoY Change -138.54% -2900.0%
Cash From Investing Activities -$5.008M -$5.518M -$3.200M
YoY Change 526.0% 72.44% -34.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.16M -29.62M 0.000
YoY Change -61.13%
NET CHANGE
Cash From Operating Activities 90.65M 78.02M 60.60M
Cash From Investing Activities -5.008M -5.518M -3.200M
Cash From Financing Activities -30.16M -29.62M 0.000
Net Change In Cash 55.48M 42.88M 57.40M
YoY Change -269.15% -25.29% -3.2%
FREE CASH FLOW
Cash From Operating Activities $90.65M $78.02M $60.60M
Capital Expenditures -$5.015M $6.587M $353.0K
Free Cash Flow $95.67M $71.44M $60.25M
YoY Change 106.18% 18.57% -12.94%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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dei Entity File Number
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dei Entity Registrant Name
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Texas Pacific Land Corporation
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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1700 Pacific Avenue
dei Entity Address Address Line2
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dei Security12b Title
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dei Trading Symbol
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tpl Payments To Acquire Equipment And Other Acquisition Of Real Estate
PaymentsToAcquireEquipmentAndOtherAcquisitionOfRealEstate
11058000 USD
tpl Payments To Acquire Equipment And Other Acquisition Of Real Estate
PaymentsToAcquireEquipmentAndOtherAcquisitionOfRealEstate
4736000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9989000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25647000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10816000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
63970000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
124098000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-74786000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-124098000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
89737000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12114000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
283024000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
303645000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
372761000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
315759000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
44113000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
35719000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
441000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
245000 USD
tpl Stock Repurchase Program Share Repurchases Not Yet Settled
StockRepurchaseProgramShareRepurchasesNotYetSettled
377000 USD
tpl Stock Repurchase Program Share Repurchases Not Yet Settled
StockRepurchaseProgramShareRepurchasesNotYetSettled
0 USD
us-gaap Stock Issued1
StockIssued1
78000 USD
us-gaap Stock Issued1
StockIssued1
0 USD
tpl Land Exchange
LandExchange
0 USD
tpl Land Exchange
LandExchange
1415000 USD
us-gaap Nature Of Operations
NatureOfOperations
Organization and Basis of Presentation<div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Organization</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Texas Pacific Land Corporation (which, together with its subsidiaries as the context requires, may be referred to as “TPL”, the “Company”, “our”, “we” or “us”) is a Delaware corporation and one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of our ownership concentrated in the Permian Basin. Additionally, we own a 1/128th nonparticipating perpetual oil and gas royalty interest (“NPRI”) under approximately 85,000 acres of land, a 1/16th NPRI under approximately 371,000 acres of land, and approximately 4,000 additional net royalty acres (normalized to 1/8th) in the western part of Texas.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TPL’s income is derived primarily from oil, gas and produced water royalties, sales of water and land, easements and commercial leases of the land.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2021, we completed our reorganization from a business trust, organized under a Declaration of Trust dated February 1, 1888 (the “Declaration of Trust”), to a corporation (the “Corporate Reorganization”) and changed our name from Texas Pacific Land Trust (the “Trust”) to Texas Pacific Land Corporation. See further discussion of the Corporate Reorganization and its impact on our equity structure in </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic777b74dc2ac4640aac8da5c32697710_58" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 7, “Changes in Equity.”</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Any references in these condensed consolidated financial statements and notes to the Company, TPL, our, we, or us with respect to periods prior to January 11, 2021 are in reference to the Trust, and references to periods on that date and thereafter are in reference to Texas Pacific Land Corporation or TPL Corporation.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Presentation</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and on the same basis as the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. The condensed consolidated financial statements herein include all adjustments which are, in the opinion of management, necessary to fairly state the financial position of the Company as of September 30, 2021 and the results of its operations for the three and nine months ended September 30, 2021 and 2020, respectively, and its cash flows for the nine months ended September 30, 2021 and 2020, respectively. Such adjustments are of a normal nature and all intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, and accordingly these interim financial statements and footnotes should be read in conjunction with the audited financial statements and footnotes included in our Form 10-K for the year ended December 31, 2020. The results for the interim periods shown in this report are not necessarily indicative of future financial results.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate our business in two segments: Land and Resource Management and Water Services and Operations. Our segments provide management with a comprehensive financial view of our key businesses. The segments enable the alignment of strategies and objectives of TPL and provide a framework for timely and rational allocation of resources within businesses. See </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ic777b74dc2ac4640aac8da5c32697710_64" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 8. “Business Segment Reporting”</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for further information regarding our segments.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates in the Preparation of Financial Statements</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information.</span></div>
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
372761000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
281046000 USD
CY2021Q3 us-gaap Escrow Deposit
EscrowDeposit
0 USD
CY2020Q4 us-gaap Escrow Deposit
EscrowDeposit
1978000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
372761000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
283024000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain financial information on the condensed consolidated statements of income for the three and nine months ended September 30, 2020 have been revised to conform to the current year presentation.
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
114405000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
104422000 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35201000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25155000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79204000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79267000 USD
CY2021Q3 us-gaap Depreciation
Depreciation
3700000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
3500000 USD
us-gaap Depreciation
Depreciation
10900000 USD
us-gaap Depreciation
Depreciation
10300000 USD
CY2021Q3 tpl Surface Rights In Acres
SurfaceRightsInAcres
823452 acre
CY2021Q3 tpl Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
0 USD
CY2020Q4 tpl Surface Rights In Acres
SurfaceRightsInAcres
823482 acre
CY2020Q4 tpl Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
0 USD
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
57049 acre
CY2021Q3 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
108546000 USD
CY2020Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
57041 acre
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
108536000 USD
CY2021Q3 tpl Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
880501 acre
CY2021Q3 tpl Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
108546000 USD
CY2020Q4 tpl Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
880523 acre
CY2020Q4 tpl Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
108536000 USD
tpl Areaof Real Estate Property Sales
AreaofRealEstatePropertySales
30 acre
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
700000 USD
tpl Average Sale Price Price Per Acre
AverageSalePricePricePerAcre
25000
tpl Areaof Real Estate Property Sales
AreaofRealEstatePropertySales
21347 acre
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
14500000 USD
tpl Average Sale Price Price Per Acre
AverageSalePricePricePerAcre
676
tpl Real Estate Reduction In Basis
RealEstateReductionInBasis
2700000 USD
tpl Areaof Real Estate Property Additions
AreaofRealEstatePropertyAdditions
8 acre
us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
100000 USD
tpl Average Purchase Price Price Per Acre
AveragePurchasePricePricePerAcre
1266
tpl Areaof Real Estate Property Additions
AreaofRealEstatePropertyAdditions
756 acre
us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
3900000 USD
tpl Average Purchase Price Price Per Acre
AveragePurchasePricePricePerAcre
5134
CY2021Q3 tpl Royalty Interest Acquired
RoyaltyInterestAcquired
46266000 USD
CY2020Q4 tpl Royalty Interest Acquired
RoyaltyInterestAcquired
46266000 USD
CY2021Q3 tpl Total Royalty Interests Gross
TotalRoyaltyInterestsGross
46266000 USD
CY2020Q4 tpl Total Royalty Interests Gross
TotalRoyaltyInterestsGross
46266000 USD
CY2021Q3 tpl Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
1115000 USD
CY2020Q4 tpl Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
620000 USD
CY2021Q3 tpl Total Royalty Interests
TotalRoyaltyInterests
45151000 USD
CY2020Q4 tpl Total Royalty Interests
TotalRoyaltyInterests
45646000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
103753000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
58035000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
237456000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
164325000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19916000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11760000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46521000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33067000 USD
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.192
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.203
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.196
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.201
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
485184000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
50052000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.75
CY2021Q1 us-gaap Dividends Cash
DividendsCash
21329000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
28000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
513935000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
57046000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.75
CY2021Q2 us-gaap Dividends Cash
DividendsCash
21329000 USD
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2504000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
29000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
547177000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
83837000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.75
CY2021Q3 us-gaap Dividends Cash
DividendsCash
21312000 USD
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
8689000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
29000 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
601042000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
512137000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
57401000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
303780000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
16.00
CY2020Q1 us-gaap Dividends Cash
DividendsCash
124098000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
14000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
445343000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
27583000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
472939000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
46275000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
519227000 USD
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q2 tpl Stock Repurchase Program Shares Authorized To Be Repurchased Amount
StockRepurchaseProgramSharesAuthorizedToBeRepurchasedAmount
20000000 USD
tpl Stock Repurchased During Period Average Per Share Amount
StockRepurchasedDuringPeriodAveragePerShareAmount
1433
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
123693000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
74383000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
228260000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
83837000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
46275000 USD
us-gaap Net Income Loss
NetIncomeLoss
190935000 USD
us-gaap Net Income Loss
NetIncomeLoss
131258000 USD
CY2021Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6587000 USD
CY2020Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
353000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11499000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4326000 USD
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3866000 USD
CY2020Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3760000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11562000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10773000 USD
CY2021Q3 us-gaap Assets
Assets
695617000 USD
CY2020Q4 us-gaap Assets
Assets
571635000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79204000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79267000 USD
CY2021Q3 tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
19500 Boe
CY2020Q3 tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
15700 Boe
tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
17500 Boe
tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
16000.0 Boe
CY2021Q3 tpl Number Of Oil And Gas Wells
NumberOfOilAndGasWells
508 well
CY2020Q4 tpl Number Of Oil And Gas Wells
NumberOfOilAndGasWells
531 well

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