Texas Pacific Land (TPL) Operating Expenses (2020 - 2026)
Texas Pacific Land (TPL) posted quarterly Operating Expenses of $54.5 million for Q1 2026, up 18.69% year-over-year from $45.9 million in Q1 2025, and down 12.58% quarter-over-quarter from $62.3 million in Q4 2025.
Texas Pacific Land (TPL) Operating Expenses (2020 - 2026) Analysis & Trends
Texas Pacific Land (TPL) has reported Operating Expenses for 7 consecutive years, with $54.5 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 18.69% year-over-year to $54.5 million; the TTM figure through Mar 2026 stood at $214.6 million (up 22.99% YoY), while the FY2025 annual figure was $206.0 million, up 23.6% from the prior year.
- Operating Expenses eased to $54.5 million in Q1 2026 per TPL's latest filing, from $62.3 million in the prior quarter.
- Across five years, Operating Expenses topped out at $62.3 million in Q4 2025 and bottomed at $23.0 million in Q1 2022.
- Historically, Operating Expenses has averaged $39.9 million across 5 years, with a median of $40.3 million in 2023.
- Annual changes were most pronounced in 2023 — Operating Expenses surged 79.87% — and 2024, when it dropped 7.99%.
- Texas Pacific Land's Operating Expenses stood at $28.5 million in 2022, then gained by 15.17% to $32.8 million in 2023, then jumped by 31.85% to $43.2 million in 2024, then jumped by 44.16% to $62.3 million in 2025, then retreated by 12.58% to $54.5 million in 2026.
- Business Quant data shows TPL's Operating Expenses at $54.5 million in Q1 2026, $62.3 million in Q4 2025, and $54.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 2.43 Bn |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | 114.95 Mn |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | 5.09 Bn |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 3.05 Bn |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 5.03 Bn |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | - |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 4.55 Bn |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 1.42 Bn |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | 54.24 Mn |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 2.30 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 54.24 Mn |
| Mar 31, 2026 | 54.49 Mn |
| Dec 31, 2025 | 62.33 Mn |
| Sep 30, 2025 | 53.99 Mn |
| Jun 30, 2025 | 43.79 Mn |
| Mar 31, 2025 | 45.91 Mn |
| Dec 31, 2024 | 43.24 Mn |
| Sep 30, 2024 | 46.23 Mn |
| Jun 30, 2024 | 39.11 Mn |
| Mar 31, 2024 | 38.10 Mn |
| Dec 31, 2023 | 32.79 Mn |
| Sep 30, 2023 | 31.01 Mn |
| Jun 30, 2023 | 40.33 Mn |
| Mar 31, 2023 | 41.41 Mn |
| Dec 31, 2022 | 28.48 Mn |
| Sep 30, 2022 | 29.06 Mn |
| Jun 30, 2022 | 24.56 Mn |
| Mar 31, 2022 | 23.02 Mn |
| Dec 31, 2021 | 21.32 Mn |
| Sep 30, 2021 | 20.45 Mn |