The 10K has the surface acres in a county listed and royalty acres in a county listed but the royalty acres are less than the surface acres so I was looking for something that would indicate where the royalty acres are in a county.
TPL has in their annual report a list of counties with the acres of landholdings and royalty holdings and a map of their landholdings. Is there anyway to tell where the royalty holdings are as they do not own the royalty acres under all the surface acres?
$100/shr is now imminent, so a very good call. Best regards to all TPL long-term holders. I for one will be slowly accumulating more TPL shares over the next year or so.
Sentiment: Strong Buy
I think you mean Pioneer Natural Resources which is claiming that the Spraberry/Wolfcamp could be the second largest oilfield in the world. TPL's land holdings in that area are only about 50,000-80,000 acres if I read the map and data in their annual report correctly. The Delaware Basin and Bone Springs where they own much more land is not that prolific but should do pretty well.
Yes, royalties for oil and gas increased about 30%, and Devon's huge success should drive TPL upward. However, the softening of oil and gas prices are somewhat of a restraint on royalty growth, I would imagine. It also may quell some drilling fever, which also gets us extra money on sundry income, which increased but the company sez can be volatile.
Still, I calculate that over the next thirty years several hundreds of dollars per share of royalties will come out of that area, which Devon claims may be as bountiful as Saudi Arabia!!
Also may be reflecting the good news coming out of the Delaware Basin and Bone Springs. Two years ago these areas were not productive. Now companies like Devon are reporting great drilling results. TPL has a lot of land in this area.