Texas Pacific Land Trust First Quarter Earnings Release (Unaudited)

April 28, 2016

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DALLAS–(BUSINESS WIRE)–Texas Pacific Land Trust (NYSE:TPL):

 
TEXAS PACIFIC LAND TRUST
       

REPORT OF OPERATIONS – UNAUDITED

 
Three Months Ended
 
March 31, 2016 March 31, 2015
 
Oil and gas royalties $ 5,610,751 $ 6,525,265
 
Land sales 86,000 20,268,000
 
Easements and sundry income 6,070,973 7,802,995
 
Other income   130,379   143,093
 
Total income $ 11,898,103 $ 34,739,353
 
Provision for income tax $ 3,522,363 $ 11,589,522
 
Net income $ 7,280,051 $ 22,166,089
 
Net income per sub-share $ .90 $ 2.67
 
Average sub-shares outstanding during period 8,098,106 8,297,581
 

This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the Trust’s future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, production limits on prorated oil and gas wells authorized by the Railroad Commission of Texas, expected competition, management’s intent, beliefs or current expectations with respect to the Trust’s future financial performance and other matters. We assume no responsibility to update any such forward-looking statements.

Category: Oil & Gas