Texas Pacific Land Corporation operates through two primary business segments: Land and Resource Management, and Water Services and Operations. The Land and Resource Management segment focuses on managing surface acres and oil and gas royalty interests, generating income from fixed-fee payments, easements, commercial leases, and material sales. The Water Services and Operations segment, managed through its subsidiary Texas Pacific Water Resources, provides comprehensive water solutions including sourcing, produced-water treatment, infrastructure development, and disposal for oil and gas operators. Originally formed in 1888 as a land trust following the bankruptcy of the Texas and Pacific Railway, TPL reorganized into a C-corporation in 2021. Its unique business model allows it to benefit significantly from energy production in the Permian Basin without incurring the capital expenditures and operational risks associated with direct oil and gas exploration.
