Texas Pacific Land reported record quarterly revenue, net income, and free cash flow, driven by record oil and gas and produced water royalty volumes. The company is aggressively pursuing new growth avenues beyond its legacy minerals business, including large-scale data center and power generation projects and produced water desalination, and has acquired land outside the Permian to support this strategy. Record Q2 2026 revenue of $246M, up 31% YoY, and FCF of $156M.
Texas Pacific Land reported record quarterly revenue, net income, and free cash flow, driven by record oil and gas and produced water royalty volumes. The company is aggressively pursuing new growth avenues beyond its legacy minerals business, including large-scale data center and power generation projects and produced water desalination, and has acquired land outside the Permian to support this strategy. Record Q2 2026 revenue of $246M, up 31% YoY, and FCF of $156M.
Texas Pacific Land reported record quarterly revenue, net income, and free cash flow, driven by record oil and gas and produced water royalty volumes. The company is aggressively pursuing new growth avenues beyond its legacy minerals business, including large-scale data center…
Management discussed strong interest from hyperscalers and AI labs in co-location and produced water desalination for data center cooling, with multiple advanced conversations on power and compute projects totaling 25 gigawatts. They are expanding into new regions for data…
Management discussed strong interest from hyperscalers and AI labs in co-location and produced water desalination for data center cooling, with multiple advanced conversations on power and compute projects totaling 25 gigawatts. They are expanding into new regions for data…
Management reaffirmed fiscal year capex guidance of $65-75 million, with second-half spending on co-location cooling and waste-heat capture at the Orla desalination facility. They also acquired over 10,000 acres in Shackleford/Jones County for approximately $100 million to…
Management discussed strong interest from hyperscalers and AI labs in co-location and produced water desalination for data center cooling, with multiple advanced conversations on power and compute projects totaling 25 gigawatts. They are expanding into new regions for data center infrastructure and expect to announce major definitive agreements in the near term.
Management noted 'strong demand' for produced water royalty volumes and reported record volumes. They highlighted multiple advanced conversations with hyperscalers and AI labs on 25 gigawatts of projects, indicating accelerating demand for power and compute infrastructure.
Management reaffirmed fiscal year capex guidance of $65-75 million, with second-half spending on co-location cooling and waste-heat capture at the Orla desalination facility. They also acquired over 10,000 acres in Shackleford/Jones County for approximately $100 million to expand data center and power generation efforts.
Management expressed confidence in growth initiatives, citing record results, strong interest from hyperscalers, and expectations of near-term definitive agreements.
“we acquired over 10,000 acres of land in Shackleford in Jones County, Texas for approximately $100 million. This region is amongst the fastest growing data center regions in the country”
“Our freeze desalination process will generate large volumes of ice and chilled water, which then could potentially be used by data centers for chip cooling.”
“we're in advanced conversations with multiple hyperscalers, AI labs, and power generators on 25 gigawatts of projects right now. I would be disappointed if we don't announce at least one or more major definitive agreements in the near term.”
“we've got price escalators built in our existing contracts, and I think poor space will become more valuable over time.”
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| Capex | FY2026 | $65M–$75M | $70M | MAINTAINED |
Chevron is building a multi-gigawatt power plant on TPL land to serve a data center, validating the Permian as a data center hub and creating a long-term revenue stream for TPL (land lease, water sales, etc.).
“a previously announced land sale and water supply agreement was related to Project Kilby, which is a large-scale power generation facility Chevron is developing to support a customer data center in Reeves County, Texas.”
… new gas pipeline capacity enters service over the next few quarters, and we would expect some mixed shifts towards the Delaware as local in-basin gas price differentials improve. For SLIM, revenues of $24 million, which represents a 37% sequential increase, were driven by strong performance for pipeline and wellbore easements. With respect to our data center and power generation efforts, we disclosed that a previously announced land sale and water supply agreement was related to Project Kilby, which is a large-scale power generation facility Chevron is developing to support a customer data center in Reeves County, Texas. This multi-gigawatt power and data center development represents a substantial commitment by some of the largest energy and technology companies in the world, and this validates the Permian as an attractive data center infrastructure hub capable of accommodating hyperscale facilities. In addition, during the quarter, we acquired over 10,000 acres of land in Shackleford in Jones County, Texas for approximately $100 million. This region is amongst the fastest growing data center regions in the country and this acquisition further expands our strategic data center …