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

Quarterly report pursuant to Section 13 or 15(d)

Note 1

Note 1

3 Months Ended

Mar. 31, 2017

(1)

In the opinion of management, the accompanying unaudited financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position of Texas Pacific Land Trust (the “Trust”) as of

March

31,

2017

and the results of its operations for the

three

month periods ended

March

31,

2017

and

2016,

respectively, and its cash flows for the

three

month periods ended

March

31,

2017

and

2016,

respectively. The financial statements and footnotes included herein should be read in conjunction with the Trust’s annual financial statements as of

December

31,

2016

and

2015

and for each of the years in the

three

year period ended

December

31,

2016

included in the Trust’s Annual Report on Form

-K for the year ended

December

31,

2016.

Beginning with the

second

quarter of

2015,

the Trust updated the format of the revenue section in the Statements of Income and Total Comprehensive Income to provide more detail regarding revenue sources.