Texas Pacific Land beats quarterly core profit estimates on stronger water sales

Texas Pacific Land (Dover)

18/02/2026 22:29

Feb 18 (Reuters) - Texas Pacific Land TPL.N topped Wall Street expectations for fourth-quarter core profit on Wednesday, as higher production and water sales offset weaker oil prices.

The company generates revenue from fixed fees for land use, construction material sales, water sourcing or treatment services and oil and gas royalty interests.

Late last year, the company entered into an agreement with data and energy infrastructure firm Bolt Data & Energy to develop and enable large-scale data center campuses and supporting infrastructure across Texas Pacific's operating territories.

The Permian-focused land and royalty company said its share of production was 37,500 barrels of oil equivalent per day for the quarter ended December 31, up from 29,100 boepd a year earlier. Meanwhile, total revenue for the fourth quarter increased to $211.6 million from $185.8 million a year earlier.

However, the company's average realized price came in at $29.33 per barrel of oil, compared to $37.93 a barrel last year, pressured by a 9% fall in Benchmark Brent crude LCOc1 prices, as concerns about oversupply and tariffs outweighed geopolitical risks.

The landowner reported an adjusted core profit of $178.1 million for the quarter ended December 31, compared with Wall Street estimates of $173.6 million, according to data compiled by LSEG.

 (Reporting by Pranav  Mathur in Bengaluru; Editing by Alan Barona)

 ((Pranav.Mathur@thomsonreuters.com))