$TPL
Texas Pacific Land Corp

2024 Q2 Form 10-Q Financial Statement

#000181107424000031 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $172.3M $174.1M
YoY Change 7.3% 18.98%
Cost Of Revenue $14.82M $10.21M
YoY Change 44.1% 80.55%
Gross Profit $157.5M $163.9M
YoY Change 4.78% 16.51%
Gross Profit Margin 91.4% 94.14%
Selling, General & Admin $20.20M $23.80M
YoY Change -22.77% -26.43%
% of Gross Profit 12.82% 14.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.093M $3.840M
YoY Change 5.14% 12.81%
% of Gross Profit 2.6% 2.34%
Operating Expenses $24.29M $27.89M
YoY Change -19.15% -22.0%
Operating Profit $133.2M $136.0M
YoY Change 10.76% 29.62%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $13.22M $9.943M
YoY Change 92.4% 84.51%
Pretax Income $146.4M $146.0M
YoY Change 15.17% 32.3%
Income Tax $31.85M $31.57M
% Of Pretax Income 21.75% 21.62%
Net Earnings $114.6M $114.4M
YoY Change 14.14% 32.17%
Net Earnings / Revenue 66.49% 65.7%
Basic Earnings Per Share $4.99 $4.97
Diluted Earnings Per Share $4.98 $4.97
COMMON SHARES
Basic Shares Outstanding 22.99M shares 7.668M shares
Diluted Shares Outstanding 23.01M shares 23.02M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $894.7M $837.1M
YoY Change 46.85% 41.73%
Cash & Equivalents $894.7M $837.1M
Short-Term Investments
Other Short-Term Assets $3.878M $4.921M
YoY Change -27.0% -35.13%
Inventory
Prepaid Expenses
Receivables $119.1M $121.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.018B $963.8M
YoY Change 38.4% 35.56%
LONG-TERM ASSETS
Property, Plant & Equipment $95.51M $92.20M
YoY Change -63.3% 6.97%
Goodwill
YoY Change
Intangibles $20.46M $20.74M
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $298.1M $295.3M
YoY Change 12.07% 20.92%
TOTAL ASSETS
Total Short-Term Assets $1.018B $963.8M
Total Long-Term Assets $298.1M $295.3M
Total Assets $1.316B $1.259B
YoY Change 31.41% 31.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.66M $23.32M
YoY Change 16.57% -14.46%
Accrued Expenses $887.0K $1.099M
YoY Change -50.0% -42.85%
Deferred Revenue $6.060M $6.766M
YoY Change -2.6% -0.27%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.27M $70.87M
YoY Change -5.12% 16.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $21.09M $22.72M
YoY Change -20.81% 1.44%
Total Long-Term Liabilities $21.09M $22.72M
YoY Change -20.81% 1.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.27M $70.87M
Total Long-Term Liabilities $21.09M $22.72M
Total Liabilities $109.4M $136.7M
YoY Change -3.87% 8.34%
SHAREHOLDERS EQUITY
Retained Earnings $1.347B $1.259B
YoY Change 34.29% 35.76%
Common Stock $231.0K $231.0K
YoY Change 196.15% 196.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $158.3M $152.0M
YoY Change 23.19% 39.67%
Treasury Stock Shares
Shareholders Equity $1.206B $1.122B
YoY Change
Total Liabilities & Shareholders Equity $1.316B $1.259B
YoY Change 31.41% 31.82%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $114.6M $114.4M
YoY Change 14.14% 32.17%
Depreciation, Depletion And Amortization $4.093M $3.840M
YoY Change 5.14% 12.81%
Cash From Operating Activities $98.29M $147.2M
YoY Change 16.33% 28.29%
INVESTING ACTIVITIES
Capital Expenditures $7.410M $2.238M
YoY Change -71.4% -40.68%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$7.410M -$2.238M
YoY Change -71.4% 28.33%
FINANCING ACTIVITIES
Cash Dividend Paid $26.91M
YoY Change 7.37%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.28M -$38.46M
YoY Change -25.24% 17.11%
NET CHANGE
Cash From Operating Activities 98.29M $147.2M
Cash From Investing Activities -7.410M -$2.238M
Cash From Financing Activities -33.28M -$38.46M
Net Change In Cash 57.60M $106.6M
YoY Change 309.38% 32.87%
FREE CASH FLOW
Cash From Operating Activities $98.29M $147.2M
Capital Expenditures $7.410M $2.238M
Free Cash Flow $90.88M $145.0M
YoY Change 55.14% 30.63%

Facts In Submission

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CY2024Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 us-gaap Income Taxes Paid Net
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CY2024Q1 tpl Decrease Increase In Accounts Payable Related To Capital Expenditures
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CY2023Q1 tpl Decrease Increase In Accounts Payable Related To Capital Expenditures
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CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
Organization and Description of Business Segments<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 868,000 surface acres of land in West Texas, principally 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) (“NRA”) for a collective total of approximately 195,000 NRA located 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%">Our revenues are derived from oil and gas royalties, water sales, produced water royalties, easements and other surface-related income and land sales.</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, Texas Pacific Land Trust (the “Trust”), organized under a Declaration of Trust dated February 1, 1888 (the “Declaration of Trust”), into Texas Pacific Land Corporation, a corporation formed and existing under the laws of the state of Delaware (the “Corporate Reorganization”).</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="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:107%">Increase in Authorized Shares of Common Stock</span></div><div style="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%">As of December 31, 2023, the Company had authorized shares consisting of 1,000,000 shares of preferred stock, par value $0.01 per share (“Preferred Stock”), and 7,756,156 shares of common stock, par value $0.01 per share (“Common Stock”). On March 1, 2024, we filed a Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of the Company (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware, pursuant to which the Certificate of Incorporation was amended and restated to provide that the total number of authorized shares of capital stock of the Company be increased to 47,536,936 shares of capital stock, consisting of 1,000,000 shares of Preferred Stock and 46,536,936 shares of Common Stock.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="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:107%">Common Stock Split</span></div><div style="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 March 26, 2024, we effected a three-for-one stock split in the form of a stock dividend of two shares of Common Stock for every share of Common Stock outstanding to stockholders of record as of March 18, 2024. All shares, stock awards, restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance stock units (“PSUs”) and per share information have been retroactively adjusted to reflect the stock split. The three-for-one stock split was not applied to shares held as treasury stock. The shares of Common Stock retain a par value of $0.01 per share. Accordingly, an amount equal to the par value of the increased shares resulting from the stock split was reclassified from “Additional paid-in capital” to “Common Stock.” </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"><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, 2023. 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 March 31, 2024 and the results of its operations and its cash flows for the three months ended March 31, 2024 and 2023, 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, 2023. 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 Note 13, “Business Segment Reporting” for further information regarding our segments.</span></div>
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2024Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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CY2024Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q1 us-gaap Use Of Estimates
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<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 condensed 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>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
837100000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
725169000 usd
CY2024Q1 us-gaap Escrow Deposit
EscrowDeposit
0 usd
CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
5380000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
837100000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
730549000 usd
CY2024Q1 tpl Surface Rights In Acres
SurfaceRightsInAcres
798958 acre
CY2024Q1 tpl Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
0 usd
CY2023Q4 tpl Surface Rights In Acres
SurfaceRightsInAcres
798999 acre
CY2023Q4 tpl Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
0 usd
CY2024Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
69447 acre
CY2024Q1 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
129774000 usd
CY2023Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
69447 acre
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
130024000 usd
CY2024Q1 tpl Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
868405 acre
CY2024Q1 tpl Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
129774000 usd
CY2023Q4 tpl Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
868446 acre
CY2023Q4 tpl Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
130024000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
152402000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
146739000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
60202000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
57152000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
92200000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
89587000 usd
CY2024Q1 us-gaap Depreciation
Depreciation
3100000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
3000000 usd
CY2024Q1 tpl Royalty Interest Acquired
RoyaltyInterestAcquired
51494000 usd
CY2023Q4 tpl Royalty Interest Acquired
RoyaltyInterestAcquired
51494000 usd
CY2024Q1 tpl Total Royalty Interests Gross
TotalRoyaltyInterestsGross
51494000 usd
CY2023Q4 tpl Total Royalty Interests Gross
TotalRoyaltyInterestsGross
51494000 usd
CY2024Q1 tpl Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
5340000 usd
CY2023Q4 tpl Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
4885000 usd
CY2024Q1 tpl Total Royalty Interests
TotalRoyaltyInterests
46154000 usd
CY2023Q4 tpl Total Royalty Interests
TotalRoyaltyInterests
46609000 usd
CY2024Q1 us-gaap Depletion
Depletion
500000 usd
CY2023Q1 us-gaap Depletion
Depletion
300000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
21403000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
21403000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
662000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
378000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20741000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
21025000 usd
CY2024Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P18Y6M
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
900000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
14300000 usd
CY2024Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
3
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3354000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2473000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
700000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
500000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
16600000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
CY2024Q1 tpl Interest On Cash And Cash Equivalents
InterestOnCashAndCashEquivalents
9801000 usd
CY2023Q1 tpl Interest On Cash And Cash Equivalents
InterestOnCashAndCashEquivalents
5258000 usd
CY2024Q1 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
-142000 usd
CY2023Q1 us-gaap Other Postretirement Benefit Expense
OtherPostretirementBenefitExpense
-128000 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 usd
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000 usd
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
9943000 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
5389000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1043196000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
114417000 usd
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3416000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
145984000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
110341000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31567000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23773000 usd
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.216
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.215
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
114417000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
86568000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23003001 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23079251 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.97
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.75
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23003001 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23079251 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
17248 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
15942 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23020249 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23095193 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.97
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.75
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
10445000 usd
CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1207000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
6000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-21000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
1122449000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
772887000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
86568000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2370000 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
6749000 usd
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
939000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
6000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-25000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
829051000 usd
CY2024Q1 tpl Capital Stock Shares Authorized
CapitalStockSharesAuthorized
47536936 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
46536936 shares
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000 usd
CY2024Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10300000 usd
CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6700000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
174142000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
146362000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
114417000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
86568000 usd
CY2024Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
5662000 usd
CY2023Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
3773000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3840000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3404000 usd
CY2024Q1 us-gaap Assets
Assets
1259170000 usd
CY2023Q4 us-gaap Assets
Assets
1156398000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
92200000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
89587000 usd
CY2024Q1 tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
24800 boe
CY2023Q1 tpl Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
20900 boe
CY2024Q1 tpl Number Of Oil And Gas Wells
NumberOfOilAndGasWells
694 well
CY2023Q4 tpl Number Of Oil And Gas Wells
NumberOfOilAndGasWells
675 well
CY2024Q1 tpl Royality Interest Of Oil And Gas Wells Produced
RoyalityInterestOfOilAndGasWellsProduced
10.3
CY2023Q4 tpl Royality Interest Of Oil And Gas Wells Produced
RoyalityInterestOfOilAndGasWellsProduced
9.7

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