On June 15, 2020, the Trust announced the new corporation will be named Texas Pacific Land Corporation (“TPL Corp”) and the persons selected to serve as directors on the Board of Directors of TPL Corp. Additionally, a draft registration statement on Form 10 has been submitted to the Securities and Exchange Commission for review, on a non-public basis. Weighted average number of Sub-share Certificates outstanding Prices received for crude oil and gas production decreased 19.9% and 34.2%, respectively, in the six months ended June 30, 2020 compared to the same period of 2019. This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Excluding the impact of the 2019 land sale (net of income tax), net income for the six months ended June 30, 2019 was $110.6 million. Data Sources. 2020/07/28 23:38 UTC. This decrease was principally due to a $5.1 million decrease in water royalties for the six months ended June 30, 2020 compared to the same period in 2019. LTD. offers range of components to the technology challenged engineering segments like Valves, Pumps, Oil & Natural Gas, Energy, Aviation, Machine Tools etc.
Pays a high and reliable dividend of 2.91%. The following table presents a reconciliation of net income to EBITDA for the three and six months ended June 30, 2020 and 2019 (in thousands): Its purpose is to highlight earnings without finance, taxes, and depreciation, depletion and amortization expense, and its use is limited to specialized analysis. As previously announced on March 23, 2020, our Trustees approved a plan to reorganize the Trust from its current structure to a corporation formed under the laws of the State of Delaware. In order to expand the industry, oil marketing companies need to invest more in storage, transport and other infrastructure developments. Texas Pacific Land Trust is not a REIT. Rewards. Furthermore, APIs are available so that data can be integrated with 3rd Party systems and real-time notifications via Email and/or SMS and/or Web feed are available around the clock.Has been developed specially for vehicles operating in the oil & gas industry, where conditions can be extremely challenging. For all non-GAAP measurements, neither the SEC nor any other regulatory body has passed judgment on these non-GAAP measurements. On the other hand, Oil & Gas contribute to a majority of Pakistan’s energy mix requirements, meeting over 79% of energy needs. She helps Oil and Gas companies make better and faster decisions, by organizing the collective knowledge within the company and making it effortlessly accessible. Introduction. The decrease in prices received was partially offset by increased crude oil and gas production subject to the Trust’s royalty interests, which increased 10.9% and 30.1%, respectively, in the six months ended June 30, 2020 compared to the same period of 2019. Pioneers in asset tracking, TPL Trakker Ltd. has been providing innovative solutions for the past 19 years. EBITDA is a non-GAAP financial measurement of earnings before interest, taxes, depreciation, depletion and amortization. Water sales and royalty revenue was $35.4 million for the six months ended June 30, 2020, a decrease of 18.5% compared with the six months ended June 30, 2019 when water sales and royalty revenue was $43.4 million. We continue to progress towards the conversion.
Oil and gas royalty revenue was $62.9 million for the six months ended June 30, 2020, compared with $72.9 million for the six months ended June 30, 2019, a decrease of 13.7%. Oil and gas royalty revenue was $20.5 million for the second quarter ended June 30, 2020, compared with $39.6 million for the second quarter ended June 30, 2019, a decrease of 48.3%. Should oil and gas wells be shut in, production be curtailed or the owners and operators of the oil and gas wells to which the Trust’s royalty interests relate decrease investment in response to lower commodity prices and conservation of capital, we would expect the Trust’s royalty income and demand for our water services to decline. The uncertainty surrounding the severity and duration of the COVID-19 pandemic, as well as dramatic declines in crude oil prices due in part to the global spread of COVID-19, continued to cause volatility in the global financial markets during the second quarter of 2020. NYSE:TPL; Texas Pacific Land Trust. Land sales revenue for the six months ended June 30, 2019, included a $100 million land sale consummated in January 2019. The Trust recognized land sales revenue of $1.7 million for the six months ended June 30, 2020 and $108.4 million for the comparable period of 2019. Visit a Top Oil Location Today to Win Free Fuel for a Year Promotion Details This summer, starting 20 July 2020 and ending 30 September 2020, when you make a minimum €15 fuel or in-store purchase at one of our Top Oil locations, you have a chance to win Free Fuel for a Year or a Top Oil gift voucher. Texas Pacific Land Trust holds title to tracts of land in the state of Texas. Earnings are forecast to grow 7.14% per year . US$4.3b. In addition to amounts presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we also present certain supplemental non-GAAP measurements. 27th May 2020. These measurements are not to be considered more relevant or accurate than the measurements presented in accordance with GAAP. Net income per Sub-share Certificate - basic and diluted Water sales and royalty revenue was $8.4 million for the second quarter ended June 30, 2020, a decrease of 58.8% compared with the second quarter ended June 30, 2019 when water sales and royalty revenue was $20.4 million. On the other hand, Oil & Gas contribute to a majority of Pakistan’s energy mix requirements, meeting over 79% of energy needs.
Easements and other surface-related income was $24.8 million for the second quarter ended June 30, 2020, an increase of 10.8% compared with the second quarter ended June 30, 2019 when easements and other surface-related income was $22.4 million. Tethys Petroleum Limited is an oil and gas exploration and production company with operations currently focused in Central Asia. Our expertise ranges from …
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