TPL 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

• high

  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 →
• high

  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 →
• medium

  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 verify on EDGAR →