Texas Pacific Land Trust First Quarter Earnings Release (Unaudited)

DALLAS--(BUSINESS WIRE)-- Texas Pacific Land Trust (NYSE:TPL):






Three Months Ended


March 31, 2014


March 31, 2013

Rentals, royalties and other income $ 11,581,953 $ 6,613,854

Land sales

  --   113,000
Total income $ 11,581,953 $ 6,726,854
Provision for income tax $ 3,389,630 $ 1,705,866
Net income $ 7,249,918 $ 4,137,844
Net income per sub-share $ .86 $ .47
Average sub-shares outstanding during period 8,451,133 8,755,321

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.

Texas Pacific Land Trust
David M. Peterson, 214-969-5530
General Agent

Source: Texas Pacific Land Trust