Company History
Texas Pacific Land Trust was created in 1888 as a result of a reorganization of the Texas and Pacific Railway Company following receivership.
The bondholders created the Trust and converted bonds to shares of proprietary interest in the Trust. The Trust was created to manage and sell the land.
Texas Pacific Land Trust derives revenue from all avenues of managing the land, i.e. oil and gas royalties, grazing leases, easements, sundry and specialty leases, and land sales.
OIL & GAS HOLDINGS----
The Trust has a perpetual oil and gas royalty interest in some 459,200 acres including interests in Callahan, Coke, Crane, Culberson, (299,693 acres); Ector, (19,887 acres); El Paso, Fisher, Glasscock, Howard, Hudspeth, (155,405 acres); Jeff Davis, Loving, (73,608 acres); Martin, Midland, (29,0007 acres); Mitchell, Nolan, Palo Pinto, Pecos, (43,407 acres); Presidio, Reagan, Reeves, (185,529 acres); Stephens, Sterling, Taylor, Upton and Winkler Co., TX
TOTAL REVENUES---
The company reported net income of $50 miliion in 2015 compared to $34 million in 2014 on total revenues of $79.44 million. Total revenues in 2015, exclusive of land sales, were $56,825,658 and
consisted of the following:
ROYALTY REVENUE---
---Oil and gas royalty revenue of $24,860,205 compared to $29,346,103 in
2014, a decrease of 15.3%. Crude oil production was up 47.2% and the
average price per barrel was $48.46. Total gas production increased
39.4% and the average price of gas was $3.27 per MCF. It includes interesrs in ~3,509 wells. According to the Trust filings, over 18 (1/128th) royalty wells were drilled in 2015 and 58 (1/16th) royalty wells.
OTHER INCOME---
---Interest on notes receivable was $40,866 and interest on investments was $27,440. This compares to interest on notes receivable of $140,291 and interest on investments of $14,523 in 2014.
---Other revenues totaled $31,897,147, consisting of $483,989 from
grazing lease rentals and $31,413,158 from easements and sundry
income. Grazing lease rental income was down 3.3% compared to 2014.
Easements and sundry income increased 46.0% from 2014.