Texas Pacific Land Trust Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 29, 2015 at 10:28 pm
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Texas Pacific Land Trust reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $8,234,892 or $0.99 per sub share on rentals, royalties and other income of $11,590,486 against net income of $7,519,106 or $0.88 per sub share on rentals, royalties and other income of $11,623,283 a year ago. Total income was $13,295,068 compared to $12,503,683 a year ago.
For the full year, the company reported net income of $34,765,020 or $4.14 per sub share on rentals, royalties and other income of $51,518,441 against net income of $27,218,508 or $3.16 per sub share on rentals, royalties and other income of $37,707,491 a year ago. Total income was $55,216,753 compared to $44,121,079 a year ago.
Texas Pacific Land Corporation is a landowner in the state of Texas with approximately 868,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. Its segments include Land and Resource Management and Water Services and Operations. Its Land and Resource Management segment encompasses the business of managing its approximately 868,000 surface acres of land and its oil and gas royalty interests in West Texas, principally concentrated in the Permian Basin. This segment consists primarily of royalties from oil and gas, revenues from easements, commercial leases and renewables, and land and material sales. Its Water Services and Operations segment encompasses the business of providing full-service water offerings to operators in the Permian Basin through Texas Pacific Water Resources LLC (TPWR). These full-service water offerings include, but are not limited to, water sourcing, produced-water treatment, infrastructure development, and others.