Texas Pacific Land Trust Third Quarter Earnings Release (Unaudited)

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

         
TEXAS PACIFIC LAND TRUST
 

REPORT OF OPERATIONS - UNAUDITED

 

Three Months Ended

 

September 30, 2015

September 30, 2014

 
Oil and gas royalties $ 6,060,645 $ 7,707,981
 
Land sales 1,888,635 323,125
 
Easements and sundry income 10,091,161 6,581,105
 
Other income   146,307   144,257
 
Total income $ 18,186,748 $ 14,756,468
 
Provision for income tax $ 5,771,859 $ 4,512,504
 
Net income $ 11,461,349 $ 9,366,043
 
Net income per sub-share $ 1.40 $ 1.11
 
Average sub-shares outstanding during period 8,190,757 8,406,403
 

 

Nine Months Ended

 

September 30, 2015

September 30, 2014

 
Oil and gas royalties $ 18,285,504 $ 22,813,548
 
Land sales 22,316,635 1,993,730
 
Easements and sundry income 23,697,100 16,612,578
 
Other income   421,996   501,829
 
Total income $ 64,721,235 $ 41,921,685
 
Provision for income tax $ 20,894,401 $ 12,700,879
 
Net income $ 41,043,450 $ 26,530,128
 
Net income per sub-share $ 4.99 $ 3.15
 
Average sub-shares outstanding during period 8,226,185 8,425,346
 

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, Chief Executive Officer

Source: Texas Pacific Land Trust