Texas Pacific Land Corporation Announces $100 Million Stock Repurchase Program

Key Facts

DALLAS, Texas--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (the “Company”) today announced that the Company’s board of directors approved a stock repurchase program to purchase up to an aggregate of $100 million of our outstanding common stock.
Acquisitions pursuant to the stock repurchase program may be made through a combination of open market repurchases in compliance with Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, privately negotiated transactions, and/or other transactions at the Company’s discretion.
In connection with the stock repurchase program, the Company intends to enter into a Rule 10b5-1 trading plan that would generally permit the Company to repurchase shares at times when it might otherwise be prevented from doing so under securities laws.
These revenue opportunities include fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and/or treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land.