TPL Q1 revenue +21% to $236.8M on $20.9M land sale, higher royalties; Iran conflict drove oil >$90

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~1 min read

Key Changes

• high

  Iran conflict disrupted Strait of Hormuz in Feb-Mar 2026, spiking oil prices above $90/bbl; future impact uncertain and depends on conflict duration and infrastructure damage.

  MD&A: Iran conflict verify on EDGAR →
• high

  Sold land for $42.5M to data-center power developer, structured as nominal upfront payment plus annual installments through 2046; recognized $20.9M revenue at closing (present value at 7.5% discount rate).

  MD&A: Land sale with financing verify on EDGAR →
• high

  Oil/gas royalty revenue rose 6.2% to $118.2M as production jumped 19.3% to 37.1 MBoe/d, offsetting 10.9% realized price decline to $37.06/Boe.

  MD&A: Oil and gas royalty revenue verify on EDGAR →