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Enterprising Investor

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Re: Enterprising Investor post# 356

Tuesday, 01/08/2019 5:12:38 PM

Tuesday, January 08, 2019 5:12:38 PM

Post# of 1492
Texas Pacific Land Trust closes land sale for $100 million (1/08/19)

On January 7, 2019, Texas Pacific Land Trust (the “Trust”) consummated the previously announced sale of approximately 14,000 surface acres of land in Loving and Reeves Counties, Texas to WPX Energy Permian, LLC for an aggregate price of $100,000,000 (the “Sale”). The Sale excludes any mineral or royalty interest in the lands to be conveyed and the Trust reserved certain usage, disposal and water rights in approximately 1,280 acres of the lands conveyed.

The Trust intends to use the proceeds from the Sale to acquire like kind properties.

https://www.sec.gov/Archives/edgar/data/97517/000009751719000003/form8-k010719.htm

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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