Texas Pacific Land TPL Investor Presentation March 2024

Texas Pacific Land Corporation is a Permian Basin pure-play with ~23,700 core net royalty acres and ~868,000 surface acres in Texas. The company generated $541 million in adjusted EBITDA and $415 million in free cash flow in 2023, with no debt and a $725 million cash balance. TPL operates diversified revenue streams including royalties, water services, and surface operations, positioning it to capitalize on upstream development with a robust inventory of 675 drilled uncompleted wells and 368 permits.