Texas Pacific Land Corporation (TPL)

[couldbebetter]

TPL is perplexing because there is no way to place a "certain" value on
its assets...especially the "royalty acreage." Much depends on the actual
development of those lands which is dependent upon who is developing those
lands, to what "extent," and over what time frame. There are just too
many variables that can affect TPL from the price of oil to the prospect
of fossil fuels eventually going away. My best guess is that "if" TPL
is undervalued, CVX is in the best position to know that and they also
have the ability to attempt a takeout if that turns out to be the case.

Of course, one could ask if that were the case why hasn't CVX acquired
TPL? Well, maybe they made a proposal and it was rejected by the
2 incumbent trustees. Two oil & gas companies expressed some sort
of interest but shareholders were never given any details.