Texas Pacific Land Trust (TPL) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Texas Pacific Land Trust
CIK: 97517

Exhibit 99.1



	TEXAS PACIFIC LAND TRUST

	1700 Pacific Avenue
	Suite 2770
	Dallas, Texas 75201
	______

TRUSTEES:	Telephone (214) 969-5530	OFFICERS:
MAURICE MEYER III		TYLER GLOVER
JOHN R. NORRIS III		ROBERT J. PACKER
DAVID E. BARRY

Texas Pacific Land Trust Announces Third Quarter 2018 Financial Results

DALLAS, TX (October 31, 2018) – Texas Pacific Land Trust (NYSE: TPL) today announced financial results for the third quarter ended September 30, 2018.

Results for the third quarter of 2018:


•	Net income of $50.8 million, or $6.52 per Sub-share Certificate, for the third quarter of 2018, compared with $33.0 million, or $4.20 per Sub-share Certificate, for the third quarter of 2017.


•	Revenues of $73.2 million for the third quarter of 2018, compared with $52.0 million for the third quarter of 2017.


•	Increases of 129.6% in water sales and royalty revenue and 52.6% in oil and gas royalty revenue (144.7% excluding the arbitration settlement with Chevron U.S.A., Inc. (the "Chevron Settlement") in the third quarter of 2017), partially offset by a decrease of 5.9% in easements and sundry income for the third quarter of 2018, compared with the third quarter of 2017.

Results for the nine months ended September 30, 2018:


•	Net income of $147.1 million, or $18.86 per Sub-share Certificate, for the nine months ended September 30, 2018, compared with $72.6 million, or $9.22 per Sub-share Certificate, for the nine months ended September 30, 2017.


•	Revenues of $207.0 million for the nine months ended September 30, 2018, compared with $114.7 million for the nine months ended September 30, 2017.


•	Increases of 142.2% in water sales and royalty revenue, 103.6% in oil and gas royalty revenue (147.8% excluding the Chevron Settlement in 2017), and 30.4% in easements and sundry income for the nine months ended September 30, 2018, compared with the nine months ended September 30, 2017.

Further details for the third quarter of 2018:

Oil and gas royalty revenue was $31.3 million for the third quarter of 2018, compared with $20.5 million for the third quarter of 2017, an increase of 52.6% (144.7% excluding the $7.7 million Chevron Settlement received in September 2017). Crude oil and gas production subject to the Trust’s royalty interests increased 98.9% and 174.7%, respectively, in the third quarter of 2018

The following information was filed by Texas Pacific Land Trust on Wednesday, October 31, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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