Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)

Texas Pacific Land Trust (NYSE:TPL):
 
TEXAS PACIFIC LAND TRUST
   

REPORT OF OPERATIONS - UNAUDITED
 

Three Months Ended
 

December 31, 2015

December 31, 2014
 
Oil and gas royalties $ 6,574,701 $ 6,532,555
 
Land sales 300,000 1,704,582
 
Easements and sundry income 7,716,059 4,904,654
 
Other income   130,298   153,277
 
Total income $ 14,721,058 $ 13,295,068
 
Provision for income tax $ 4,350,113 $ 3,965,655
 
Net income $ 8,995,057 $ 8,234,892
 
Net income per sub-share $ 1.10 $ .99
 
Average sub-shares outstanding during period

8,154,321

8,353,393
 

Year Ended
 

December 31, 2015

December 31, 2014
 
Oil and gas royalties $ 24,860,205 $ 29,346,103
 
Land sales 22,616,635 3,698,312
 
Easements and sundry income 31,413,158 21,517,232
 
Other income   552,295   655,106
 
Total income $ 79,442,293 $ 55,216,753
 
Provision for income tax $ 25,244,515 $ 16,666,534
 
Net income $ 50,038,507 $ 34,765,020
 
Net income per sub-share $ 6.10 $ 4.14
 
Average sub-shares outstanding during period 8,197,632 8,397,314
 

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.

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