Texas Pacific Land Corporation (NYSE:TPL) Q4 2024 Earnings Conference Call February 20, 2025 8:30 AM ET Company Participants Shawn Amini - IR Tyler Glover - President, CEO & Trustee Chris Steddum - CFO Robert Crain - EVP, Texas Pacific Water Resources LLC Conference Call Participants Derrick Whitfield - Texas Capital Operator Greetings, and welcome to the Texas Pacific Land Corporation Fourth Quarter 2024 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my p ...

In my previous Texas Pacific Land (NYSE: TPL ) article published in September 2023, I focused on the main issue the company had at the time, which was the governance of the company and theMy passion for financial markets started at a young age, and I have been investing since 2007.Later on, I studied Economics and started as a buy-side equity research analyst. After studying for a Master’s Degree in Economic Analysis and working as an accountant, I assumed the position of CFO for a holding company that oper ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ State or other jurisdiction of incorporation or organization: IRS Employer Identification No.: Delaware 75-0279735 Address of principal executive ...

Financial Performance - Consolidated net income for the fourth quarter of 2024 was $118.4 million, or $5.14 per share, compared to $106.6 million in the third quarter of 2024[9] - Total revenues for the fourth quarter of 2024 reached $185.8 million, an increase from $173.6 million in the third quarter of 2024, driven by a $7.5 million rise in easements and surface-related income[10] - For the full year 2024, total revenues were $705.8 million, a 11.7% increase from $631.6 million in 2023, with water sales contributing a $38.5 million increase[12] - The company achieved a record oil and gas royalty production of 26.8 thousand Boe per day for the full year 2024, compared to 23.5 thousand Boe per day in 2023[15] - Adjusted EBITDA for the full year 2024 was $610.7 million, reflecting strong operational performance[13] - Free cash flow for the full year 2024 was $461.1 million, with total cash dividends paid amounting to $347.3 million[13] - Operating income for the year ended December 31, 2024, was $539.138 million, an increase from $486.053 million in the previous year, representing a growth of 11%[32] - The company reported a diluted net income per share of $5.14 for the three months ended December 31, 2024, compared to $4.63 in the previous quarter, an increase of 11%[27] - The company’s total revenues for the year ended December 31, 2024, were $705.823 million, compared to $631.595 million in the previous year, indicating a growth of 11.7%[32] - Net income for Q4 2024 was $118,360,000, an increase from $106,594,000 in Q3 2024, and up from $405,645,000 in 2023[37] Revenue Breakdown - Oil and gas royalties contributed $96.954 million to total revenues for the three months ended December 31, 2024, up from $94.444 million in the previous quarter, a growth of 3%[27] - Water sales increased to $36.737 million for the three months ended December 31, 2024, compared to $36.211 million in the previous quarter, marking a growth of 1.4%[27] - The Water Service and Operations segment generated total revenues of $265.0 million in 2024, with water sales revenue of $150.7 million and produced water royalties revenue of $104.1 million[5] Production Metrics - Royalty production averaged 29.1 thousand barrels of oil equivalent (Boe) per day in the fourth quarter of 2024, up from 28.3 thousand Boe per day in the previous quarter[10] - Total depreciation, depletion, and amortization for Q4 2024 was $11,467,000, up from $5,762,000 in Q3 2024 and $14,757,000 in 2023[37] Cash Flow and Expenses - Free Cash Flow for Q4 2024 was $123,732,000, compared to $106,865,000 in Q3 2024 and $415,494,000 for the full year 2023[37] - Total operating expenses for the three months ended December 31, 2024, were $43.240 million, a decrease from $46.232 million in the previous quarter, reflecting a reduction of 6.4%[27] - Capital expenditures in Q4 2024 were $7,429,000, down from $9,833,000 in Q3 2024 and $15,431,000 in 2023[37] Shareholder Information - A three-for-one stock split was executed on March 26, 2024, enhancing shareholder value[5] - The weighted average number of diluted shares outstanding was 23,015,530 for the three months ended December 31, 2024, slightly down from 23,012,169 in the previous quarter[27] Other Financial Metrics - Income tax expense for Q4 2024 was $32,618,000, an increase from $28,823,000 in Q3 2024 and $111,916,000 in 2023[37] - Employee share-based compensation for Q4 2024 was $3,509,000, compared to $2,935,000 in Q3 2024 and $9,124,000 in 2023[37] - The company reported a pension curtailment and settlement gain of $(4,616,000) for the full year 2024[37] - Current income tax expense for Q4 2024 was $(30,177,000), compared to $(27,416,000) in Q3 2024 and $(110,517,000) in 2023[37] - EBITDA for Q4 2024 reached $162,445,000, compared to $141,179,000 in Q3 2024 and $532,318,000 for the full year 2023[37] - Adjusted EBITDA for Q4 2024 was $161,338,000, up from $144,114,000 in Q3 2024 and $541,442,000 in 2023[37]

Regulatory Update - Tethys received all ecological and environmental approvals for 2024 on November 18, 2024, and the 2025 ecological permit on December 9, 2024, allowing production of up to 490 tons/day under Contract No 1897 for the Kul Bas field until July 26, 2026 [2] - On January 8, 2025, Kul-Bas LLP submitted an application to transition Contract No 1897 to the Production Period, which would extend production until July 2048 and allow hydrocarbon exports, with a decision expected by February 5, 2025 [3] Operations Update - Oil production is constrained by limitations on associated gas flaring, prompting Tethys to convert gas to electricity to limit emissions [4] - The Central Processing Facility (CPF) at Kul Bas was commissioned on November 19, 2024, and the Gas Utilization Facilities (GUF) on January 17, 2025, marking the completion of Phase 1 work [4] - Phase 1 focused on handling associated gas from the first 3 wells (KBD-2, KBD-6, KBD-7), with plans for a Phase 2 program to increase oil production and bring on additional wells (KBD-3, KBD-4, KBD-8) [4] - Logistics, handled by oil buyers, can limit production due to factors like trucking, rail capacity, and weather conditions, with Tethys currently selling oil primarily to mini-refineries at higher prices [5] - A prohibition on naphtha exports in Kazakhstan has negatively impacted mini-refineries and reduced the price Tethys receives for oil compared to export prices [5] Company Strategy - Tethys remains committed to responsible growth, optimizing operations while meeting regulatory requirements [6] - The company focuses on oil and gas exploration and production in Central Asia and the Caspian Region [7]

Mr. Mavroudis is a professional portfolio manager specializing in institutional and private portfolios. He focuses on risk management, which is accompanied by in-depth financial market analysis (fundamental, macro and technical) to control the risk undertaken by the portfolios. He invests in all financial instruments globally (stocks, bonds, fx, commodities), restructuring investment portfolios based on prevailing conditions and the needs of each client-investor. Mr. Mavroudis has successfully navigated all ...

Texas Pacific Land Corporation (TPL) has been a standout performer in 2024, not only as the best Oil/Energy stock in the S&P 500 but also as the 7th best overall. With a staggering 127.3% year-to-date gain, it has outperformed even high-flying names like Netflix (NFLX) and Tesla (TSLA) . Netflix has gained some 90%, while Zacks Rank #2 (Buy) Tesla has provided an 83% return this year.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.TPL, NFLX, TSLA Year-to-Date Stock Performanc ...

Texas Pacific Land TodayTPLTexas Pacific Land$1,600.09 -36.60 (-2.24%) 52-Week Range$467.62▼$1,769.14Dividend Yield0.29%P/E Ratio82.10Price Target$694.17Add to WatchlistTexas Pacific Land Corporation NYSE: TPL is an organization with roots stretching back to 1888, and the company has witnessed a dramatic surge in its stock price this year. Texas Pacific’s stock price has increased over 200% year to date, and this upward momentum has captivated investors and sparked considerable interest in the company's un ...

Grand Cayman, Cayman Islands--(Newsfile Corp. - November 26, 2024) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") today announced that it has filed its interim results for the three months ended September 30, 2024 with the Canadian securities regulatory authorities comprising its Audited Financial Statements together with Management's Discussion and Analysis and other required forms. Copies of the filed documents may be obtained via SEDAR at www.sedarplus.ca or on Tethys' website at www ...

Previously, I covered TPL on 25th September , and since then, the Texas Pacific Land Corporation (NYSE: TPL ) stock has skyrocketed and surged by around 63% in approx. 2 months. This extraordinary gain is proof that TPL is gettingI am a financial writer with a degree in Finance. In my five-year career, I have worked with two financial companies. I keep a close eye on Energy, Banking, and Tech stocks. My main focus is fundamental analysis and looking at the long-term position of a stock instead of short-term ...