$TPL
Texas Pacific Land Corp

2022 Q3 Form 10-Q Financial Statement

#000181107422000052 Filed on August 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $191.1M $176.3M $147.3M
YoY Change 54.5% 83.74% 75.08%
Cost Of Revenue $6.348M $3.915M $2.782M
YoY Change 73.92% 10.25% -15.7%
Gross Profit $184.8M $172.4M $144.6M
YoY Change 53.91% 86.57% 78.68%
Gross Profit Margin 96.68% 97.78% 98.11%
Selling, General & Admin $18.79M $16.47M $16.11M
YoY Change 45.25% -4.56% 7.43%
% of Gross Profit 10.17% 9.55% 11.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.917M $4.180M $4.126M
YoY Change 1.32% 8.35% 7.5%
% of Gross Profit 2.12% 2.43% 2.85%
Operating Expenses $22.71M $20.65M $20.24M
YoY Change 35.14% -2.2% 7.66%
Operating Profit $162.1M $151.7M $124.3M
YoY Change 56.97% 112.86% 100.43%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.920M $630.0K $76.00K
YoY Change 274.27% 55.17% 1420.0%
Pretax Income $164.0M $152.3M $124.4M
YoY Change 58.04% 112.54% 100.54%
Income Tax $34.14M $33.44M $26.49M
% Of Pretax Income 20.82% 21.95% 21.3%
Net Earnings $129.8M $118.9M $97.90M
YoY Change 54.87% 108.42% 95.6%
Net Earnings / Revenue 67.94% 67.45% 66.45%
Basic Earnings Per Share $16.83 $15.37 $12.65
Diluted Earnings Per Share $16.82 $15.37 $12.64
COMMON SHARES
Basic Shares Outstanding 7.722M shares 7.734M shares 7.741M shares
Diluted Shares Outstanding 7.720M shares 7.737M shares 7.743M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $446.6M $389.8M $507.4M
YoY Change 19.81% 18.43% 63.29%
Cash & Equivalents $446.6M $389.8M $507.4M
Short-Term Investments
Other Short-Term Assets $2.943M $1.732M $2.534M
YoY Change 20.12% 32.01% 40.78%
Inventory
Prepaid Expenses
Receivables $139.7M $132.4M $109.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $589.2M $523.9M $618.8M
YoY Change 28.61% 31.57% 64.65%
LONG-TERM ASSETS
Property, Plant & Equipment $81.56M $83.44M $80.00M
YoY Change 2.97% 8.49% 2.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $239.8M $240.8M $237.7M
YoY Change 0.96% 2.19% -0.09%
TOTAL ASSETS
Total Short-Term Assets $589.2M $523.9M $618.8M
Total Long-Term Assets $239.8M $240.8M $237.7M
Total Assets $829.0M $764.7M $856.6M
YoY Change 19.17% 20.65% 39.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.73M $29.28M $12.64M
YoY Change 70.51% 109.49% 1.97%
Accrued Expenses $4.663M $3.163M $2.572M
YoY Change -30.09% -48.14% -53.24%
Deferred Revenue $4.611M $5.139M $4.655M
YoY Change 16.29% 17.11% -12.14%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.60M $57.07M $67.28M
YoY Change 49.81% 161.68% 98.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $21.43M $21.20M $20.30M
YoY Change 3.51% 3.85% -7.31%
Total Long-Term Liabilities $21.43M $21.20M $20.30M
YoY Change 3.51% 3.85% -7.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.60M $57.07M $67.28M
Total Long-Term Liabilities $21.43M $21.20M $20.30M
Total Liabilities $107.8M $119.4M $128.7M
YoY Change 13.99% 37.8% 28.86%
SHAREHOLDERS EQUITY
Retained Earnings $789.5M $682.8M $741.9M
YoY Change 28.43% 23.65% 43.64%
Common Stock $78.00K $78.00K $78.00K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $72.93M $40.01M $14.62M
YoY Change 551.53% 1497.88%
Treasury Stock Shares
Shareholders Equity $721.2M $645.3M $727.9M
YoY Change
Total Liabilities & Shareholders Equity $829.0M $764.7M $856.6M
YoY Change 19.17% 20.65% 39.55%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $129.8M $118.9M $97.90M
YoY Change 54.87% 108.42% 95.6%
Depreciation, Depletion And Amortization $3.917M $4.180M $4.126M
YoY Change 1.32% 8.35% 7.5%
Cash From Operating Activities $119.2M $87.67M $107.7M
YoY Change 52.83% 98.85% 105.65%
INVESTING ACTIVITIES
Capital Expenditures $1.808M $7.342M $3.005M
YoY Change -72.55% 237.72% 9.75%
Acquisitions
YoY Change
Other Investing Activities $10.00K $0.00 $96.00K
YoY Change -99.07%
Cash From Investing Activities -$6.328M -$3.085M -$5.178M
YoY Change 14.68% 0.46% 257.35%
FINANCING ACTIVITIES
Cash Dividend Paid $23.22M
YoY Change 8.88%
Common Stock Issuance & Retirement, Net $200.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -56.12M -202.1M -$23.44M
YoY Change 89.43% 747.15% 9.91%
NET CHANGE
Cash From Operating Activities 119.2M 87.67M $107.7M
Cash From Investing Activities -6.328M -3.085M -$5.178M
Cash From Financing Activities -56.12M -202.1M -$23.44M
Net Change In Cash 56.79M -117.6M $79.11M
YoY Change 32.45% -785.25% 167.2%
FREE CASH FLOW
Cash From Operating Activities $119.2M $87.67M $107.7M
Capital Expenditures $1.808M $7.342M $3.005M
Free Cash Flow $117.4M $80.33M $104.7M
YoY Change 64.39% 91.64% 110.94%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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0001811074
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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dei Amendment Flag
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dei Document Type
DocumentType
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dei Document Quarterly Report
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true
dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
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 Entity Address City Or Town
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dei Entity Address State Or Province
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dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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dei Security12b Title
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Common Stock(par value $.01 per share)
dei Trading Symbol
TradingSymbol
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IncreaseDecreaseInOtherOperatingLiabilities
814000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-6433000 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-611000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
96489000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
96000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
12000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
10000 usd
us-gaap Payments To Acquire Royalty Interests In Mining Properties
PaymentsToAcquireRoyaltyInterestsInMiningProperties
1662000 usd
us-gaap Payments To Acquire Royalty Interests In Mining Properties
PaymentsToAcquireRoyaltyInterestsInMiningProperties
0 usd
tpl Payments To Acquire Equipment And Other Acquisition Of Real Estate
PaymentsToAcquireEquipmentAndOtherAcquisitionOfRealEstate
6685000 usd
tpl Payments To Acquire Equipment And Other Acquisition Of Real Estate
PaymentsToAcquireEquipmentAndOtherAcquisitionOfRealEstate
4461000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8263000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4471000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
24592000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2504000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
200998000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
42658000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-225590000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-45162000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-38448000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
46856000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
428242000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
283024000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
389794000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
329880000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
67324000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
27613000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
4174000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 usd
tpl Decrease Increase In Accounts Payable Related To Capital Expenditures
DecreaseIncreaseInAccountsPayableRelatedToCapitalExpenditures
3662000 usd
tpl Decrease Increase In Accounts Payable Related To Capital Expenditures
DecreaseIncreaseInAccountsPayableRelatedToCapitalExpenditures
451000 usd
tpl Stock Repurchase Program Share Repurchases Not Yet Settled
StockRepurchaseProgramShareRepurchasesNotYetSettled
1161000 usd
tpl Stock Repurchase Program Share Repurchases Not Yet Settled
StockRepurchaseProgramShareRepurchasesNotYetSettled
0 usd
us-gaap Stock Issued1
StockIssued1
0 usd
us-gaap Stock Issued1
StockIssued1
78000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization and Description of Business Segments<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </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%">Organization </span></div><div style="text-align:justify"><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 surface 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 Note 10, “Changes in Equity.” 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 or after that date are in reference to Texas Pacific Land Corporation or TPL Corporation.</span></div><div style="padding-left:27pt;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%"> </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, 2021. 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 June 30, 2022 and the results of its operations for the three and six months ended June 30, 2022 and 2021, respectively, and its cash flows for the six months ended June 30, 2022 and 2021, 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 Annual Report on Form 10-K for the year ended December 31, 2021. 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"><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 Note 11, “Business Segment Reporting” 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 style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </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>
CY2022Q2 tpl Surface Rights In Acres
SurfaceRightsInAcres
823445 acre
CY2022Q2 tpl Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
0 usd
CY2021Q4 tpl Surface Rights In Acres
SurfaceRightsInAcres
823452 acre
CY2021Q4 tpl Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
0 usd
CY2022Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
57146 acre
CY2022Q2 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
109083000 usd
CY2021Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
57129 acre
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
109071000 usd
CY2022Q2 tpl Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
880591 acre
CY2022Q2 tpl Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
109083000 usd
CY2021Q4 tpl Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
880581 acre
CY2021Q4 tpl Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
109071000 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
127949000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
118401000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
44505000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
38679000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
83444000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79722000 usd
CY2022Q2 us-gaap Depreciation
Depreciation
3900000 usd
CY2021Q2 us-gaap Depreciation
Depreciation
3700000 usd
us-gaap Depreciation
Depreciation
7700000 usd
us-gaap Depreciation
Depreciation
7200000 usd
CY2022Q2 tpl Royalty Interest Acquired
RoyaltyInterestAcquired
47928000 usd
CY2021Q4 tpl Royalty Interest Acquired
RoyaltyInterestAcquired
46266000 usd
CY2022Q2 tpl Total Royalty Interests Gross
TotalRoyaltyInterestsGross
47928000 usd
CY2021Q4 tpl Total Royalty Interests Gross
TotalRoyaltyInterestsGross
46266000 usd
CY2022Q2 tpl Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
2345000 usd
CY2021Q4 tpl Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
1876000 usd
CY2022Q2 tpl Total Royalty Interests
TotalRoyaltyInterests
45583000 usd
CY2021Q4 tpl Total Royalty Interests
TotalRoyaltyInterests
44390000 usd
CY2022Q2 us-gaap Depletion
Depletion
200000 usd
CY2021Q2 us-gaap Depletion
Depletion
200000 usd
us-gaap Depletion
Depletion
500000 usd
us-gaap Depletion
Depletion
400000 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1990000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3495000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
400000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
700000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
9000000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
152338000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
71676000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
276727000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
133703000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33444000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14630000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
59933000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26605000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.204
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.217
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.199
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
118894000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
57046000 usd
us-gaap Net Income Loss
NetIncomeLoss
216794000 usd
us-gaap Net Income Loss
NetIncomeLoss
107098000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7733730 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7755886 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7737527 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7756020 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
15.37
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
28.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
13.81
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7733730 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7755886 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7737527 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7756020 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3382 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2333 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7737112 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7755886 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7739859 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7756020 shares
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
15.37
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
28.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
13.81
CY2022Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
4000000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
651711000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
97900000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.00
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1481000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
2000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
727876000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
118894000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1811000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25534000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
2000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
645281000 usd
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 Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
0 usd
CY2021Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
8000 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 Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2504000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
8000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
29000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
547177000 usd
CY2022Q1 tpl Stock Repurchase Program Shares Authorized To Be Repurchased Amount
StockRepurchaseProgramSharesAuthorizedToBeRepurchasedAmount
100000000 usd
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
17478 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1461
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
176270000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
95932000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
323605000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
180087000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
118894000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
57046000 usd
us-gaap Net Income Loss
NetIncomeLoss
216794000 usd
us-gaap Net Income Loss
NetIncomeLoss
107098000 usd
CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7342000 usd
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2174000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10347000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4912000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4180000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3858000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8306000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7696000 usd
CY2022Q2 us-gaap Assets
Assets
764708000 usd
CY2021Q4 us-gaap Assets
Assets
764064000 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
83444000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79722000 usd
CY2022Q2 tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
19800 boe
CY2021Q2 tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
16400 boe
tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
20300 boe
tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
16400 boe
CY2022Q2 tpl Number Of Oil And Gas Wells
NumberOfOilAndGasWells
574 well
CY2021Q4 tpl Number Of Oil And Gas Wells
NumberOfOilAndGasWells
452 well

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