Texas Pacific Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Royalty Interests

Oil and Gas Royalty Interests

9 Months Ended

Sep. 30, 2022

Oil and Gas Royalty InterestsAs of September 30, 2022 and December 31, 2021, we owned the following oil and gas royalty interests (in thousands):


	Net Book Value
	September 30, 2022		December 31, 2021
1/16th nonparticipating perpetual royalty interests	$	—	$	—
1/128th nonparticipating perpetual royalty interests	—		—
Royalty interests acquired	47,928		46,266
Total royalty interests, gross	47,928		46,266
Less: accumulated depletion	(2,597)		(1,876)
Total royalty interests, net	$	45,331	$	44,390

Acquisition

For the nine months ended September 30, 2022, we acquired oil and gas royalty interests in 92 net royalty acres (normalized to 1/8th) for an aggregate purchase price of approximately $1.7 million. There were no oil and gas royalty interest transactions for the nine months ended September 30, 2021.

Depletion expense was $0.3 million and $0.1 million for the three months ended September 30, 2022 and 2021, respectively. Depletion expense was $0.7 million and $0.5 million for the nine months ended September 30, 2022 and 2021, respectively.