Keeley Comments on Texas Pacific Land

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Jul 28, 2022

Summary

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Texas Pacific Land Corporation (TPL, Financial) (TPL - $1,488.02 — NYSE) owns 880,000 acres of land and mineral rights inWest Texas. It leases this acreage and provides water management services to oil & gas companies operating in the Permian Basin. It was a busy quarter for TPL as it reported strong first quarter results driven by a sharp increase in sourced water sales. The company also declared a special dividend of $20 per share in addition to its $2.75 per share base dividend. Toward the end of the quarter, Texas Pacific also announced an alliance to develop bitcoin mining using previously flared natural gas on its West Texas acreage.

From the Keeley Small-Mid Cap Vlaue Fund's second-quarter 2022 commentary.

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I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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