Texas Pacific Land Trust First Quarter Earnings Release (Unaudited)

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



Three Months Ended
March 31, 2016 March 31, 2015
Oil and gas royalties $ 5,610,751 $ 6,525,265
Land sales 86,000 20,268,000
Easements and sundry income 6,070,973 7,802,995
Other income   130,379   143,093
Total income $ 11,898,103 $ 34,739,353
Provision for income tax $ 3,522,363 $ 11,589,522
Net income $ 7,280,051 $ 22,166,089
Net income per sub-share $ .90 $ 2.67
Average sub-shares outstanding during period 8,098,106 8,297,581

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