News Press Releases

Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)

TPL | July 28, 2016

Texas Pacific Land Trust (NYSE:TPL):


TEXAS PACIFIC LAND TRUST
REPORT OF OPERATIONS - UNAUDITED

	Three Months Ended

	June 30, 2016		June 30, 2015

Oil and gas royalties	$	6,866,702	$	5,699,594

Land sales		--		160,000

Easements and sundry income		9,198,970		5,802,945

Other income		130,438		132,595

Total income	$	16,196,110	$	11,795,134

Provision for income tax	$	4,980,353	$	3,533,021

Net income	$	10,123,117	$	7,416,012

Net income per sub-share	$	1.26	$	.90

Average sub-shares outstanding during period		8,048,500		8,244,345

	Six Months Ended

	June 30, 2016		June 30, 2015

Oil and gas royalties	$	12,477,453	$	12,224,859

Land sales		86,000		20,428,000

Easements and sundry income		15,269,943		13,605,939

Other income		260,817		275,689

Total income	$	28,094,213	$	46,534,487

Provision for income tax	$	8,502,716	$	15,122,543

Net income	$	17,403,168	$	29,582,101

Net income per sub-share	$	2.16	$	3.58

Average sub-shares outstanding during period		8,064,759		8,262,482

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.