Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)
January 31 2017 - 4:20PM
Business Wire
Texas Pacific Land Trust (NYSE:TPL):
TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS
- UNAUDITED
Three Months
Ended
December 31, 2016 December 31, 2015 Oil and gas
royalties $ 9,064,633
$
6,574,701
Land sales 2,374,000 300,000 Easements and sundry
income* 5,999,978 7,716,059 Other income 134,390
130,298 Total income $ 17,573,001 $ 14,721,058
Provision for income tax $ 5,174,389 $ 4,350,113 Net income
$ 10,906,970 $ 8,995,057 Net income per sub-share $ 1.37 $
1.10 Average sub-shares outstanding during period 7,936,789
8,154,321
Year
Ended
December 31, 2016 December 31, 2015 Oil and gas
royalties $ 29,996,962 $ 24,860,205 Land sales 2,945,505
22,616,635 Easements and sundry income* 26,470,669
31,413,158 Other income 527,331 552,295
Total income $ 59,940,467 $ 79,442,293 Provision for income
tax $ 17,847,370 $ 25,244,515 Net income $ 37,239,550 $
50,038,507 Net income per sub-share $ 4.66 $ 6.10
Average sub-shares outstanding during period 7,989,030 8,197,632
*The Trust deferred $2,083,355 of easement income for the fourth
quarter of 2016 and $7,809,669 for the year ended 2016 due to the
transition to term easements.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170131006367/en/
Texas Pacific Land TrustRobert J. Packer, 214-969-5530General
Agent, Chief Financial Officer
Texas Pacific Land (NYSE:TPL)
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