If TPL becomes a C Corp. a stock split seems assured as it would increase liquidity. I believe a 20:1 split would be reasonable. As tempting as it may be for taking profits here the lure to stay invested is the prospect of ETFs having to buy into TPL and of course a stock split. I feel like a kid with a wrapped up present under the tree, anxiously waiting to unwrap the present to find out what's inside! Too bad the release of the information did not happen yet while the market is booming and oil stocks have rebounded.
I still wonder who my have wanted to buy TPL more than a year ago and if such interest remains. If it was CVX they would understand the real value of TPL better than TPL itself.