Permian land and royalties
Texas Pacific Land Corporation
Texas Pacific Land earns royalties, surface-use fees, and water revenue from its Permian Basin land and oil and gas royalty interests. Its water business incurs third-party sourcing, transfer, and treatment costs, while the company is expanding into data-center infrastructure.
TPL Updated Sep 24, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, Texas Pacific Land Corporation is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 8 companies within two hops; the links are backed by 8 dated sources, 5 of them primary filings (as of 2026-09-24).
Financials & Segments
- Total revenue · FY2025 total revenue of $798.19 million (SEC 10-K)
- Segments · Land and Resource Management · Water Services and Operations
Revenue from
- Chevron Corporation High confidence· Contract value $43M · payments through 2046 · Aggregate consideration for the Project Kilby land sale
TPL provides land and brackish-water resources for Chevron's Project Kilby in Reeves County. The land consideration is $42.5 million, and TPL also secured an exclusive right to source aquifer-derived water for the project.Confirms EN SEC EDGAR Published Aug 5, 2026: Texas Pacific Land Corporation Form 10-Q for the Quarter Ended June 30, 2026Confirms KO Maeil Business Newspaper Published Jun 24, 2026: Texas Pacific Land Signs Chevron Agreement for Land and Water Solutions for a Large-Scale Power Project - ExxonMobil High confidence· Market share 45% · 2024 royalty acquisition · ExxonMobil-operated share of net royalty acres acquired in 2024
ExxonMobil operates about 45% of the net royalty acres TPL acquired in 2024. Production on that acreage generates oil and gas royalty revenue for TPL.Confirms EN SEC EDGAR Published Oct 2, 2024: TPL Oil and Gas Mineral and Royalty Interests Acquisition - Diamondback Energy, Inc. High confidence· Market share 21% · 2024 royalty acquisition · Diamondback-operated share of net royalty acres acquired in 2024
Diamondback Energy operates about 21% of the net royalty acres TPL acquired in 2024. Production volumes and realized prices on this acreage feed TPL's royalty revenue.Confirms EN SEC EDGAR Published Oct 2, 2024: TPL Oil and Gas Mineral and Royalty Interests Acquisition
Pays to
- New Mexico State University Medium confidence
TPL works with New Mexico State University on research to analyze water quality and improve its desalination process. TPL discloses aggregate desalination R&D spending but not institution-level payments. - Texas Tech University Medium confidence
TPL works with Texas Tech University on research to analyze water quality and improve its desalination process. TPL discloses aggregate desalination R&D spending but not institution-level payments.
Investments
- Bolt Data & Energy, Inc. High confidence· Amount $50M · December 2025 · Minority investment in Bolt Series A preferred stock
TPL invested $50 million in Bolt's Series A preferred stock in December 2025 to support large-scale data-center campuses and related infrastructure in West Texas. TPL also received a board nomination right and a right of first refusal to supply water to affiliated projects.Confirms EN SEC EDGAR Published Dec 17, 2025: Bolt and TPL Announce Strategic Agreement to Pursue Data Center Development in West TexasConfirms KO Maeil Business Market Published Dec 17, 2025: Texas Pacific Land Announces $50 Million Strategic Investment Agreement with Bolt
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Chubu Electric Power Co. | lead2 | -6.9 | +26.2 | +41.4 | -12.8 | +43.8 | +31.9 |
| West Pharmaceutical Services | lead2 | +65.9 | -49.7 | +50 | -6.8 | -15.7 | +23.8 |
| Linde | lead2 | +33.4 | -4.4 | +27.7 | +3.2 | +3.2 | +14.6 |
| O’Reilly Automotive | lead2 | +56 | +19.5 | +12.6 | +24.8 | +15.4 | -3.6 |
| Tokyo Electric Power Company Holdings, Incorporated | lead2 | -23.7 | +58.5 | +62.5 | -48.1 | +42 | -4.5 |
| Chevron Corporation | lead1 | +46.2 | +58.5 | -13.6 | +1.3 | +10.1 | +40.7 |
| ExxonMobil | lead1 | +57.6 | +87.4 | -6.3 | +11.3 | +16 | +35.2 |
| Diamondback Energy, Inc. | lead1 | +127.5 | +35.3 | +19.7 | +10.3 | -5.6 | +30 |
| Texas Pacific Land Corporation | node | +73.3 | +91.3 | -32.4 | +115.3 | -21.6 | +26.2 |
YTD as of 2026-10-09 · source: Yahoo Finance
Texas Pacific Land Corporation operates across Permian land and royalties. After -21.6% in 2025, it rebounded +26.7% in 2026. The stock (+26.7%) and its demand side (avg +36.9%) are moving in step. Among connected nodes the furthest ahead is Chevron Corporation (+40.7%) and the furthest behind is Diamondback Energy, Inc. (+34.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Its water business incurs third-party sourcing, transfer, and treatment costs, while the company is expanding into data-center infrastructure.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple