Texas Pacific Land Trust Announces Formation of Water Resources Company
June 08 2017 - 5:31PM
Business Wire
Texas Pacific Land Trust (NYSE: TPL) (the “Trust”) today
announced the formation of Texas Pacific Water Resources, LLC
(“TPWR”). TPWR, a single-member LLC and wholly owned subsidiary of
the Trust, will focus on providing a full-service water offering to
operators in the Permian Basin. TPWR seeks to develop with
operators integrated water servicing agreements to include brackish
water sourcing, produced water gathering/treatment/recycling,
infrastructure development/construction, disposal, water tracking,
analytical and well testing services. TPWR is committed to
sustainable water development with significant focus on the
large-scale implementation of recycled water operations.
Leading TPWR’s operations will be Robert A. Crain. Mr. Crain
comes to TPWR from EOG Resources where he led the development of
EOG’s water resource programs across multiple divisions including
the Eagle Ford and Permian basins. Mr. Crain and his team bring a
wealth of water resource development experience including large
scale brackish water development as well as extensive water
recycling treatment experience.
Texas Pacific Land Trust is not a
REIT.
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 competitions, 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170608006364/en/
Texas Pacific Land TrustRobert J. Packer, 214-969-5531General
Agent, Chief Financial Officer
Texas Pacific Land (NYSE:TPL)
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