Texas Pacific Land Corporation (TPL)

[couldbebetter]

The makeup of the BOD consists of the same cast of characters engaged
in the Trustee election fiasco. I'm glad to see Mr. Oliver as a
director. Hopefully, this group can work together going forward
and adopt a strategy that will continue with share buybacks and
keep the issuance of new stock to a minimum (not that I believe that
they will.)

Nobody has opined on the massive number of DUC wells. Once the process
of completion gets underway they could unleash a wall of production
as well as a surge in demand for water services. Whenever that happens
the takeaway capacity should no longer be an issue. As always, the key
will be the price of the underlying commodity that will impact earnings.

I really do not know where the price of TPL will move from here. I was
wrong in my expectation for a price decline to $400 before $600. TPL
may become more of an institutionally driven stock especially when
option trading begins on TPL. (Might be a good candidate to sell
covered calls on.) Sadly, the idea of perpetual share buybacks
with no new shares being issued (except for stock splits) is likely
gone forever. Whatever became of the takeover interest?