Texas Pacific Land Corporation (TPL)

[couldbebetter]

Aitkenresearch, I am not sure if I exactly understand your question. Any
activity done on TPL's surface lands or roylaty lands is known to TPL as
they subscribe to a service that keeps them aware of such activity.
Regardless, TPL investors never have a very clear understanding of how
much TPL land has been fully developed or how much is left to develop far
into the future. The nature a shale deposits in the Permian is that it is
a deep layer of hydrocarbon bearing shale upon layer which may be drilled
for many years before it is all depleted. Your comment on APA (if it refers to Apache Petroleum) is that they have a prospect they call "Alpine
High" that will take time for them to develop as they need to be able to
have takeaway capacity built out for them to be able to get their product
to market.

The bottom line for TPL is that they should continue to show massive growth
as both oil & gas production increase and as TPL expands its full service
water operations to clients on or around its lands. This will take decades
to play out as the oil companies plan to be there for decades to come.

The further out in time one goes the harder it is to make an accurate
prediction as variables change. However,it is safe to conclude that TPL
will grow as long as producers on its lands increase production. As
near as anyone can tell production should increase for at least the
next 5 years. Where that will place TPL's EPS is anyones guess.