Oil & Gas Royalties was Texas Pacific Land’s largest product and service line in fiscal 2025, bringing in $411.68M of $582.50M (71%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Oil & Gas Royalties | $452.43M | $357.39M | $373.33M | $411.68M | ||||
| Water Sales | — | $112.20M | $150.72M | — | ||||
| Water Sales & Royalties | — | — | — | — | ||||
| Easements & Other Surface-Related Income | $3.49M | $67.91M | $63.07M | $170.01M | ||||
| Produced Water Royalties | — | $84.26M | $104.12M | — | ||||
| Land Sales & Other Operating Revenue | — | — | — | — | ||||
| Sale Of Oil & Gas Royalty Interests | — | — | — | — | ||||
| Land Sales | — | $6.81M | $4.39M | $819.00K | ||||
| Other Operating Revenue | — | — | — | — | ||||
| Total | $455.92M | $628.57M | $695.64M | $582.50M |
Texas Pacific Land brought in $582.50M from its three product and service lines in fiscal 2025, the year ended December 31, 2025. Texas Pacific Land regrouped these lines after fiscal 2024, so the total does not compare directly with that year's $695.64M. Oil & Gas Royalties was the largest at $411.68M (70.7%), ahead of Easements & Other Surface-Related Income at $170.01M (29.2%) and Land Sales at $819.00K (0.1%).
Compared with fiscal 2024, Easements & Other Surface-Related Income grew 169.5% to $170.01M and Oil & Gas Royalties grew 10.3% to $411.68M.
Texas Pacific Land stopped reporting Water Sales ($150.72M in fiscal 2024) and Produced Water Royalties ($104.12M in fiscal 2024) as separate lines.
Lrm was Texas Pacific Land’s largest segment in fiscal 2025, bringing in $490.73M of $504.27M (97%).
| Segment | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Lrm | $452.43M | $357.39M | $373.33M | $490.73M | ||||
| Land & Resource Management | — | — | — | — | ||||
| Wso | $3.49M | $112.20M | $150.72M | $13.55M | ||||
| Water Services & Operations | — | — | — | — | ||||
| Total | $455.92M | $469.60M | $524.06M | $504.27M |
Texas Pacific Land brought in $504.27M from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $582.50M it reports by product and service, so these segments do not cover all of its revenue. Lrm was the largest at $490.73M (97.3%), ahead of Wso at $13.55M (2.7%).
Compared with fiscal 2024, Lrm grew 31.4% to $490.73M, while Wso fell 91.0% to $13.55M.
Texas Pacific Land (TPL) reports its revenue by product and service and by segment. In fiscal 2025, Oil & Gas Royalties was its largest product and service line, bringing in $411.68M (70.7% of the total), followed by Easements & Other Surface-Related Income at $170.01M (29.2%).
Oil & Gas Royalties was Texas Pacific Land's largest product and service line in fiscal 2025, bringing in $411.68M, or 70.7% of the $582.50M total across its three product and service lines.
Lrm was Texas Pacific Land's largest segment in fiscal 2025, bringing in $490.73M, or 97.3% of the $504.27M total across its two segments.
Lrm grew faster than Wso in fiscal 2025, up 31.4% from $373.33M to $490.73M. Wso fell 91.0% to $13.55M.
Every figure comes from Texas Pacific Land's annual financial filings, as reported. Each line keeps the name Texas Pacific Land gives it, and years follow its fiscal calendar.
Texas Pacific Land's revenue by product and service goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.