Texas Pacific Land Trust ( TPL ) 14,000 acres sold

General Mineral Rights Discussion
1

Does anyone have any info on this deal where Texas Pacific Land Trust sold 14,000 acres to an unnamed party? I am wondering if anyone is aware of who purchased such a large section of land.

https://www.sec.gov/Archives/edgar/data/97517/000009751718000028/form8-k112118.htm

Thanks.

2

Note that the sale is for surface only, no minerals. The purchase price is mindblowing though. $100,000,000? That is over $7,000 an acre just for surface? I am guessing this transaction has something to do with water?

Here is a map of the holdings, these are the old Texas Pacific Railroad holdings, they probably sold the checkerboarded area that straddles the Reeves/Loving County line.

TPLT Holdings

3

Thanks.

Your guess is a good one of the location of the sale. As I understand it, the checkerboard squares consist of 640 acres. That would mean they sold 21 squares. That would account for the area you mentioned and a little more probably SW and NE of it.

TPLT has a water company now. I am not sure why they would sell a corridor like that unless a pipeline operator wanted the pathway.

TPLT said the proceeds will go to a land acquisition in another area in the filing.

Thanks for the help.