The Texas Pacific Land Corporation is a publicly traded real estate operating company with its administrative office in Dallas, Texas. Owning well over 880,000 acres in 20 West Texas counties, TPL is among the largest private landowners in the state of Texas. It was previously organized as an unusual legal entity, a publicly traded trust taxed as a corporation, and operated under the name Texas Pacific Land Trust. TPL has two business lines: royalties from oil and gas, its main business segment, and selling water. Wikipedia