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Get filing alertsTPL lands Chevron deal for land, water supply to power West Texas data center project
Filed June 23, 2026 · Period ending June 23, 2026 · ~1 min read
Key Changes
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TPL contributed surface acreage to Chevron's Project Kilby in exchange for cash and secured exclusive rights to supply aquifer-derived water for a large-scale power generation facility supporting a data center in Reeves County, Texas.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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The agreement positions TPL to generate revenue from both the land transaction and ongoing water supply services, representing a new commercial relationship with a major energy company for infrastructure supporting power generation.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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TPL will supply brackish groundwater rather than freshwater, reducing demand on shared freshwater resources and reinforcing the company's commitment to responsible water development in the Permian Basin.
Exhibit 99.1 view on EDGAR →
Summary
Texas Pacific Land announced an agreement with Chevron to support Project Kilby, a large-scale power generation facility for a data center in Reeves County, Texas. TPL contributed surface acreage in exchange for cash consideration and secured exclusive rights to supply aquifer-derived water for the facility.
This represents a significant expansion of TPL's business model beyond traditional oil and gas surface rights, positioning the company to participate in the growing demand for data center infrastructure in West Texas. For retail investors, the deal demonstrates TPL's ability to monetize its extensive land holdings and water resources in new ways as the Permian Basin attracts technology infrastructure investment.
The agreement creates both immediate revenue from the land transaction and a potential recurring revenue stream from water supply services. CEO Ty Glover characterized West Texas as a "premier location for compute infrastructure" due to its energy resources, skilled workforce, and regulatory environment, suggesting TPL sees this as the first of potentially multiple such opportunities. The filing does not disclose financial terms, project timeline, or specific acreage involved, limiting the ability to quantify near-term financial impact.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Texas Pacific Land Corporation (the “Company”) issued a press release announcing its agreement to provide land and water solutions to Chevron U.S.A. Inc. for a large-scale power project in West Texas.
TPL has entered into an agreement with Chevron U.S.A. Inc. to provide land and water solutions for a large-scale power project in West Texas. The filing does not disclose financial terms, project timeline, or specific acreage involved, but the arrangement represents a new commercial relationship with a major energy company for infrastructure supporting power generation in TPL's core operating region.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
“This advancement of giga-watt scale power generation and data centers developed by the industry’s leading technology, energy, and industrial companies validates West Texas as a premier location for compute infrastructure,” said Ty Glover, CEO of TPL. “As the world’s largest supplier of conventional energy and a leading source of renewable energy, the Permian Basin combines critical resources with skilled talent and a supportive regulatory environment. We believe these virtues position the region to become a major hub for compute services, and TPL is well positioned to support that growth through our leading surface footprint, industry relationships, and access to energy and water resources.”
TPL's CEO highlighted the company's strategic positioning to support the emerging data center and compute infrastructure market in West Texas. The agreement demonstrates TPL's ability to leverage its land holdings, water resources, and industry relationships to participate in the growing demand for large-scale power generation supporting technology infrastructure. This represents a potential new revenue stream beyond traditional oil and gas-related activities.
Added in current filing · view on EDGAR →
TPL intends to supply brackish groundwater, helping reduce demand for shared freshwater resources and reinforcing its ongoing commitment to responsible water development in the Permian Basin. TPL also continues to advance solutions for reuse of desalinated produced water from oil and gas operations.
TPL will supply brackish (non-potable) groundwater for the project, which reduces pressure on freshwater resources. The company is also developing solutions for reusing desalinated produced water from oil and gas operations. This approach aligns with water stewardship priorities and may enhance TPL's competitive position for future infrastructure projects requiring sustainable water solutions.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 24, 2026 · How we verify