Texas Pacific Land Corporation announced its financial and operating results for the third quarter of 2024, reporting a net income of $106.6 million. The company achieved total revenues of $173.6 million for the quarter. This performance reflects continued activity across its land and resource management segments.
The company's share of oil and gas royalty production averaged 28.3 thousand Boe per day during the third quarter. The average realized price for its production was $38.04 per Boe. Compared to the third quarter of 2023, total revenues increased by 9.9%.
Net income per share for the third quarter of 2024 was $4.63, an increase from $4.59 per share reported in the third quarter of 2023. This growth in earnings per share, alongside rising revenues, demonstrates the company's ability to generate value from its Permian Basin assets.
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