Note 1 - Organization and Description of Business Segments |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2017 | |||
| Notes to Financial Statements | 听 | ||
| Nature of Operations [Text Block] |
听 Texas Pacific Land Trust (which, together with its subsidiary as the context requires, may be referred to as 鈥淭exas Pacific鈥, the 鈥淭rust鈥, 鈥渙ur鈥, 鈥渨e鈥 or 鈥渦s鈥) is one of the largest landowners in the State of Texas with approximately 890,000 acres of land in West Texas. Texas Pacific was 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, and to issue transferable Certificates of Proprietary Interest pro rata to the original holders of certain debt securities of the Texas and Pacific Railway Company. 听 The Trust announced the formation of Texas Pacific Water Resources LLC (鈥淭PWR鈥) in
June 2017. TPWR, a single member LLC and wholly owned subsidiary of the Trust, focuses on providing a full-service water offering to operators in the Permian Basin. These services include brackish water sourcing, produced-water gathering/treatment/recycling, infrastructure development/construction, disposal, water tracking, analytics and well testing services. 听 The Trust is organized to manage land, including royalty interests, for the benefit of its owners. The Trust 鈥檚 income is derived primarily from oil, gas and water royalties, sales of water and land, easements and leases of the land.
听 We operate our business in
two segments: Land and Resource Management and Water Service and Operations. Our segments provide management with a comprehensive financial view of our key businesses. The segments enable the alignment of strategies and objectives of the Trust and provide a framework for timely and rational allocation of resources within businesses. See Note 9, 鈥淏usiness Segment Reporting鈥 for further information regarding our segments. |