Texas Pacific Land Trust - TPL- Profile

Texas Pacific Land Trust. The Group's principal activity is to manage, sell and lease land, retain oil and gas royalties and also has temporary cash investments. It is organized under a Declaration of Trust dated February 1, 1888, to receive and hold title to extensive tracts of land in the State of Texas, previously the property of the Texas and Pacific Railway Company. The Trustees are empowered under the Declaration of Trust to manage the lands with all the powers of an absolute owner, and to use the lands and the proceeds of sale of the lands, either to pay dividends to the Certificate holders or to buy in and cancel outstanding Certificates. Manages, sells and leases land, retains oil and gas royalties and also has temporary cash investments