secwatch.observer — SEC 8-K summary
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Issuer:     Texas Pacific Land Corp (TPL)
CIK:        0001811074
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001811074-23-000039
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TPL Q2 net income falls to $100.4M from $118.9M; royalty production hits record 24.9K boe/d
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- Net income $100.4M ($13.06 basic EPS), revenue $160.6M; prior Q2 net income $118.9M, revenue $176.3M.
- Royalty production record 24.9K boe/d (up 26% YoY); avg realized price $38.04/Boe, down 45.9% from $70.36.
- Water sales & produced water royalties up $17.5M; easements & surface income up $4.7M; total op expenses $40.3M (+$15.8M).
- Board declared $3.25/share dividend payable Sept 15; $19.5M in Q2 stock repurchases.
- Six-month net income $187.0M (down 13.8% YoY); includes $8.7M arbitration stipulation for royalty underpayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1811074/000181107423000039/0001811074-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1811074/000181107423000039/tpl-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001811074-23-000039

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer