TPL Texas Pacific Land Corporation

Texas Pacific Land Trust (NYSE:TPL):

  TEXAS PACIFIC LAND TRUST REPORT OF OPERATIONS - UNAUDITED    

 

Three Months Ended

    June 30, 2016 June 30, 2015   Oil and gas royalties $ 6,866,702 $ 5,699,594   Land sales -- 160,000   Easements and sundry income 9,198,970 5,802,945   Other income   130,438   132,595   Total income $ 16,196,110 $ 11,795,134   Provision for income tax $ 4,980,353 $ 3,533,021   Net income $ 10,123,117 $ 7,416,012   Net income per sub-share $ 1.26 $ .90   Average sub-shares outstanding during period 8,048,500 8,244,345  

 

Six Months Ended

  June 30, 2016 June 30, 2015   Oil and gas royalties $ 12,477,453 $ 12,224,859   Land sales 86,000 20,428,000   Easements and sundry income 15,269,943 13,605,939   Other income   260,817   275,689   Total income $ 28,094,213 $ 46,534,487   Provision for income tax $ 8,502,716 $ 15,122,543   Net income $ 17,403,168 $ 29,582,101   Net income per sub-share $ 2.16 $ 3.58   Average sub-shares outstanding during period 8,064,759 8,262,482  

This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the Trust's future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, production limits on prorated oil and gas wells authorized by the Railroad Commission of Texas, expected competition, management's intent, beliefs or current expectations with respect to the Trust's future financial performance and other matters. We assume no responsibility to update any such forward-looking statements.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160728006528/en/

Texas Pacific Land TrustDavid M. Peterson, 214-969-5530General Agent, Chief Executive Officer