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TEXAS PACIFIC LAN, (TPL) Stock Research Free Stock Rating
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Texas Pacific Land Trust holds title to tracts of land in Texas, which were previously the property of the Texas and Pacific Railway Company. It issues transferable certificates of proprietary interest pro rata to the holders of certain debt securities of the Texas and Pacific Railway. As of December 31, 2003, the trust owned the surface estate in 1,004,725 acres of land located in 20 counties in the western part of Texas. It also owned a 1/128 nonparticipating perpetual oil and gas royalty interest under 85,414 acres of land and a 1/16 nonparticipating perpetual oil and gas royalty interest under 386,988 acres of land, as of the above date. Texas Pacific Land Trust was formed in 1888 and is based in Dallas, Texas.
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