Texas Pacific Land Trust (TPL) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

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:

MAURICE MEYER III

JOHN R. NORRIS III

DAVID E. BARRY

Telephone (214) 969-5530

OFFICERS:

TYLER GLOVER

ROBERT J. PACKER

Texas Pacific Land Trust Announces Third Quarter 2017 Financial Results

DALLAS, TX (October 30, 2017) – Texas Pacific Land Trust (NYSE: TPL) today announced financial results for the third quarter of fiscal 2017, which ended September 30, 2017.

Results for third quarter 2017:

	●	Net income of $26.4 million, or $3.36 per sub-share, for third quarter 2017, compared with $8.9 million, or $1.12 per sub-share, for third quarter 2016.

	●	Revenues of $42.5 million for third quarter 2017, compared with $14.3 million for third quarter 2016.

	●	Increases of 351.5% in easements and sundry income, 248.4% in water sales and royalty revenue, and 150.9% in oil and gas royalty revenue (59.7% excluding the announced Chevron settlement) for third quarter 2017, compared with third quarter 2016.

Results for nine months ended September 30, 2017:

	●	Net income of $58.0 million, or $7.37 per sub-share, for the first nine months of 2017, compared with $26.3 million, or $3.28 per sub-share, for the first nine months of 2016.

	●	Revenues of $94.1 million for the first nine months of 2017, compared with $42.4 million for the first nine months of 2016.

	●	Increases of 230.0% in water sales and royalty revenue, 96.7% in easements and sundry income, and 116.4% in oil and gas royalty revenue (79.5% excluding the announced Chevron settlement) for the first nine months of 2017, compared with the first nine months of 2016.

Further Details for third quarter 2017:

Easements and sundry income was $13,221,548 for the third quarter of 2017, an increase of 351.5% compared with the third quarter of 2016 when easements and sundry income was $2,928,095. This increase resulted primarily from increases in pipeline easement income and, to a lesser extent, sundry lease rental income, temporary permit income, and material sales (caliche). Pipeline easement income increased 235.9% to $14,490,663 (before deferral of term easements) for the third quarter of 2017 compared to the third quarter of 2016.

The following information was filed by Texas Pacific Land Trust on Tuesday, October 31, 2017 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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